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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
Limbach Holdings, Inc. is the larger business by last-quarter revenue ($138.9M vs $89.5M, roughly 1.6× Commerce.com, Inc.). Limbach Holdings, Inc. runs the higher net margin — 3.2% vs -9.3%, a 12.5% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (4.3% vs 2.9%). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (6.6% CAGR vs 5.5%).
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
CMRC vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $138.9M |
| Net Profit | $-8.4M | $4.4M |
| Gross Margin | 78.3% | 22.4% |
| Operating Margin | -7.4% | 0.8% |
| Net Margin | -9.3% | 3.2% |
| Revenue YoY | 2.9% | 4.3% |
| Net Profit YoY | -250.0% | — |
| EPS (diluted) | $-0.11 | $0.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $138.9M | ||
| Q4 25 | $89.5M | $186.9M | ||
| Q3 25 | $86.0M | $184.6M | ||
| Q2 25 | $84.4M | $142.2M | ||
| Q1 25 | $82.4M | $133.1M | ||
| Q4 24 | $87.0M | $143.7M | ||
| Q3 24 | $83.7M | $133.9M | ||
| Q2 24 | $81.8M | $122.2M |
| Q1 26 | — | $4.4M | ||
| Q4 25 | $-8.4M | $12.3M | ||
| Q3 25 | $-2.2M | $8.8M | ||
| Q2 25 | $-8.4M | $7.8M | ||
| Q1 25 | $-353.0K | $10.2M | ||
| Q4 24 | $-2.4M | $9.8M | ||
| Q3 24 | $-7.0M | $7.5M | ||
| Q2 24 | $-11.3M | $6.0M |
| Q1 26 | — | 22.4% | ||
| Q4 25 | 78.3% | 25.7% | ||
| Q3 25 | 78.4% | 24.2% | ||
| Q2 25 | 79.0% | 28.0% | ||
| Q1 25 | 79.4% | 27.6% | ||
| Q4 24 | 77.6% | 30.3% | ||
| Q3 24 | 76.3% | 27.0% | ||
| Q2 24 | 75.8% | 27.4% |
| Q1 26 | — | 0.8% | ||
| Q4 25 | -7.4% | 9.4% | ||
| Q3 25 | -0.5% | 7.2% | ||
| Q2 25 | -8.0% | 7.5% | ||
| Q1 25 | -2.9% | 5.9% | ||
| Q4 24 | -0.9% | 9.1% | ||
| Q3 24 | -23.0% | 8.1% | ||
| Q2 24 | -16.5% | 6.7% |
| Q1 26 | — | 3.2% | ||
| Q4 25 | -9.3% | 6.6% | ||
| Q3 25 | -2.6% | 4.8% | ||
| Q2 25 | -9.9% | 5.5% | ||
| Q1 25 | -0.4% | 7.7% | ||
| Q4 24 | -2.7% | 6.9% | ||
| Q3 24 | -8.4% | 5.6% | ||
| Q2 24 | -13.8% | 4.9% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $-0.11 | $1.01 | ||
| Q3 25 | $-0.03 | $0.73 | ||
| Q2 25 | $-0.10 | $0.64 | ||
| Q1 25 | $0.00 | $0.85 | ||
| Q4 24 | $-0.03 | $0.81 | ||
| Q3 24 | $-0.09 | $0.62 | ||
| Q2 24 | $-0.15 | $0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $141.1M | $15.8M |
| Total DebtLower is stronger | $157.0M | $56.6M |
| Stockholders' EquityBook value | $39.4M | $196.3M |
| Total Assets | $308.8M | $377.0M |
| Debt / EquityLower = less leverage | 3.99× | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $15.8M | ||
| Q4 25 | $141.1M | $11.3M | ||
| Q3 25 | $142.0M | $9.8M | ||
| Q2 25 | $134.5M | $38.9M | ||
| Q1 25 | $120.7M | $38.1M | ||
| Q4 24 | $178.2M | $44.9M | ||
| Q3 24 | $168.4M | $51.2M | ||
| Q2 24 | $275.8M | $59.5M |
| Q1 26 | — | $56.6M | ||
| Q4 25 | $157.0M | $30.5M | ||
| Q3 25 | $157.3M | $56.3M | ||
| Q2 25 | $157.5M | $28.4M | ||
| Q1 25 | $157.8M | $23.7M | ||
| Q4 24 | $216.5M | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | $340.9M | $19.7M |
| Q1 26 | — | $196.3M | ||
| Q4 25 | $39.4M | $195.7M | ||
| Q3 25 | $42.8M | $181.6M | ||
| Q2 25 | $38.8M | $170.5M | ||
| Q1 25 | $38.1M | $161.1M | ||
| Q4 24 | $33.4M | $153.5M | ||
| Q3 24 | $29.0M | $142.2M | ||
| Q2 24 | $26.1M | $133.0M |
| Q1 26 | — | $377.0M | ||
| Q4 25 | $308.8M | $381.1M | ||
| Q3 25 | $309.5M | $409.1M | ||
| Q2 25 | $302.5M | $343.0M | ||
| Q1 25 | $286.3M | $336.4M | ||
| Q4 24 | $340.3M | $352.1M | ||
| Q3 24 | $335.1M | $324.4M | ||
| Q2 24 | $452.5M | $303.9M |
| Q1 26 | — | 0.29× | ||
| Q4 25 | 3.99× | 0.16× | ||
| Q3 25 | 3.67× | 0.31× | ||
| Q2 25 | 4.06× | 0.17× | ||
| Q1 25 | 4.14× | 0.15× | ||
| Q4 24 | 6.49× | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | 13.06× | 0.15× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $980.0K | — |
| Free Cash FlowOCF − Capex | $-2.2M | — |
| FCF MarginFCF / Revenue | -2.4% | — |
| Capex IntensityCapex / Revenue | 3.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $980.0K | $28.1M | ||
| Q3 25 | $10.6M | $13.3M | ||
| Q2 25 | $13.6M | $2.0M | ||
| Q1 25 | $401.0K | $2.2M | ||
| Q4 24 | $12.4M | $19.3M | ||
| Q3 24 | $5.6M | $4.9M | ||
| Q2 24 | $11.7M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.2M | $27.9M | ||
| Q3 25 | $7.6M | $12.8M | ||
| Q2 25 | $11.9M | $1.2M | ||
| Q1 25 | $-424.0K | $11.0K | ||
| Q4 24 | $11.6M | $18.0M | ||
| Q3 24 | $4.5M | $4.6M | ||
| Q2 24 | $10.7M | $13.2M |
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | 14.9% | ||
| Q3 25 | 8.8% | 7.0% | ||
| Q2 25 | 14.1% | 0.8% | ||
| Q1 25 | -0.5% | 0.0% | ||
| Q4 24 | 13.3% | 12.5% | ||
| Q3 24 | 5.4% | 3.4% | ||
| Q2 24 | 13.0% | 10.8% |
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 0.1% | ||
| Q3 25 | 3.4% | 0.3% | ||
| Q2 25 | 2.0% | 0.6% | ||
| Q1 25 | 1.0% | 1.7% | ||
| Q4 24 | 0.9% | 0.9% | ||
| Q3 24 | 1.3% | 0.3% | ||
| Q2 24 | 1.3% | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.29× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.22× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 2.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
LMB
| ODR | $99.8M | 72% |
| GCR | $39.0M | 28% |
