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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and PAMT CORP (PAMT). Click either name above to swap in a different company.
PAMT CORP is the larger business by last-quarter revenue ($141.3M vs $89.5M, roughly 1.6× Commerce.com, Inc.). Commerce.com, Inc. runs the higher net margin — -9.3% vs -20.7%, a 11.4% gap on every dollar of revenue. On growth, Commerce.com, Inc. posted the faster year-over-year revenue change (2.9% vs -15.1%). Commerce.com, Inc. produced more free cash flow last quarter ($-2.2M vs $-25.0M). Over the past eight quarters, Commerce.com, Inc.'s revenue compounded faster (5.5% CAGR vs -12.0%).
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.
CMRC vs PAMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $141.3M |
| Net Profit | $-8.4M | $-29.3M |
| Gross Margin | 78.3% | — |
| Operating Margin | -7.4% | -27.0% |
| Net Margin | -9.3% | -20.7% |
| Revenue YoY | 2.9% | -15.1% |
| Net Profit YoY | -250.0% | 7.4% |
| EPS (diluted) | $-0.11 | $-1.38 |
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.
| Q4 25 | $89.5M | $141.3M | ||
| Q3 25 | $86.0M | $150.3M | ||
| Q2 25 | $84.4M | $151.1M | ||
| Q1 25 | $82.4M | $155.3M | ||
| Q4 24 | $87.0M | $166.5M | ||
| Q3 24 | $83.7M | $182.6M | ||
| Q2 24 | $81.8M | $182.9M | ||
| Q1 24 | $80.4M | $182.6M |
| Q4 25 | $-8.4M | $-29.3M | ||
| Q3 25 | $-2.2M | $-5.6M | ||
| Q2 25 | $-8.4M | $-9.6M | ||
| Q1 25 | $-353.0K | $-8.1M | ||
| Q4 24 | $-2.4M | $-31.6M | ||
| Q3 24 | $-7.0M | $2.4M | ||
| Q2 24 | $-11.3M | $-2.9M | ||
| Q1 24 | $-6.4M | $281.0K |
| Q4 25 | 78.3% | — | ||
| Q3 25 | 78.4% | — | ||
| Q2 25 | 79.0% | — | ||
| Q1 25 | 79.4% | — | ||
| Q4 24 | 77.6% | — | ||
| Q3 24 | 76.3% | — | ||
| Q2 24 | 75.8% | — | ||
| Q1 24 | 77.1% | — |
| Q4 25 | -7.4% | -27.0% | ||
| Q3 25 | -0.5% | -3.8% | ||
| Q2 25 | -8.0% | -7.3% | ||
| Q1 25 | -2.9% | -5.9% | ||
| Q4 24 | -0.9% | -22.6% | ||
| Q3 24 | -23.0% | 1.3% | ||
| Q2 24 | -16.5% | -0.4% | ||
| Q1 24 | -10.2% | -0.4% |
| Q4 25 | -9.3% | -20.7% | ||
| Q3 25 | -2.6% | -3.7% | ||
| Q2 25 | -9.9% | -6.4% | ||
| Q1 25 | -0.4% | -5.2% | ||
| Q4 24 | -2.7% | -19.0% | ||
| Q3 24 | -8.4% | 1.3% | ||
| Q2 24 | -13.8% | -1.6% | ||
| Q1 24 | -8.0% | 0.2% |
| Q4 25 | $-0.11 | $-1.38 | ||
| Q3 25 | $-0.03 | $-0.27 | ||
| Q2 25 | $-0.10 | $-0.46 | ||
| Q1 25 | $0.00 | $-0.37 | ||
| Q4 24 | $-0.03 | $-1.44 | ||
| Q3 24 | $-0.09 | $0.11 | ||
| Q2 24 | $-0.15 | $-0.13 | ||
| Q1 24 | $-0.08 | $0.01 |
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 | $83.7M |
| Total DebtLower is stronger | $157.0M | $333.9M |
| Stockholders' EquityBook value | $39.4M | $210.5M |
| Total Assets | $308.8M | $697.9M |
| Debt / EquityLower = less leverage | 3.99× | 1.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $141.1M | $83.7M | ||
| Q3 25 | $142.0M | $115.6M | ||
| Q2 25 | $134.5M | $117.3M | ||
| Q1 25 | $120.7M | $102.7M | ||
| Q4 24 | $178.2M | $110.7M | ||
| Q3 24 | $168.4M | $92.3M | ||
| Q2 24 | $275.8M | $114.0M | ||
| Q1 24 | $265.2M | $125.8M |
| Q4 25 | $157.0M | $333.9M | ||
| Q3 25 | $157.3M | — | ||
| Q2 25 | $157.5M | — | ||
| Q1 25 | $157.8M | — | ||
| Q4 24 | $216.5M | $325.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | $340.9M | — | ||
| Q1 24 | $340.5M | — |
| Q4 25 | $39.4M | $210.5M | ||
| Q3 25 | $42.8M | $239.5M | ||
| Q2 25 | $38.8M | $244.9M | ||
| Q1 25 | $38.1M | $269.6M | ||
| Q4 24 | $33.4M | $277.5M | ||
| Q3 24 | $29.0M | $308.9M | ||
| Q2 24 | $26.1M | $306.7M | ||
| Q1 24 | $26.9M | $314.6M |
| Q4 25 | $308.8M | $697.9M | ||
| Q3 25 | $309.5M | $715.2M | ||
| Q2 25 | $302.5M | $707.9M | ||
| Q1 25 | $286.3M | $712.6M | ||
| Q4 24 | $340.3M | $741.7M | ||
| Q3 24 | $335.1M | $756.7M | ||
| Q2 24 | $452.5M | $733.5M | ||
| Q1 24 | $442.5M | $746.4M |
| Q4 25 | 3.99× | 1.59× | ||
| Q3 25 | 3.67× | — | ||
| Q2 25 | 4.06× | — | ||
| Q1 25 | 4.14× | — | ||
| Q4 24 | 6.49× | 1.17× | ||
| Q3 24 | — | — | ||
| Q2 24 | 13.06× | — | ||
| Q1 24 | 12.65× | — |
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 | $-5.8M |
| Free Cash FlowOCF − Capex | $-2.2M | $-25.0M |
| FCF MarginFCF / Revenue | -2.4% | -17.7% |
| Capex IntensityCapex / Revenue | 3.5% | 13.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | $-23.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $980.0K | $-5.8M | ||
| Q3 25 | $10.6M | $5.9M | ||
| Q2 25 | $13.6M | $12.2M | ||
| Q1 25 | $401.0K | $5.0M | ||
| Q4 24 | $12.4M | $15.2M | ||
| Q3 24 | $5.6M | $15.5M | ||
| Q2 24 | $11.7M | $18.7M | ||
| Q1 24 | $-3.4M | $9.6M |
| Q4 25 | $-2.2M | $-25.0M | ||
| Q3 25 | $7.6M | $2.5M | ||
| Q2 25 | $11.9M | $5.9M | ||
| Q1 25 | $-424.0K | $-6.8M | ||
| Q4 24 | $11.6M | $-39.9M | ||
| Q3 24 | $4.5M | $-33.6M | ||
| Q2 24 | $10.7M | $4.1M | ||
| Q1 24 | $-4.2M | $-12.2M |
| Q4 25 | -2.4% | -17.7% | ||
| Q3 25 | 8.8% | 1.7% | ||
| Q2 25 | 14.1% | 3.9% | ||
| Q1 25 | -0.5% | -4.4% | ||
| Q4 24 | 13.3% | -24.0% | ||
| Q3 24 | 5.4% | -18.4% | ||
| Q2 24 | 13.0% | 2.2% | ||
| Q1 24 | -5.3% | -6.7% |
| Q4 25 | 3.5% | 13.6% | ||
| Q3 25 | 3.4% | 2.3% | ||
| Q2 25 | 2.0% | 4.2% | ||
| Q1 25 | 1.0% | 7.6% | ||
| Q4 24 | 0.9% | 33.1% | ||
| Q3 24 | 1.3% | 26.9% | ||
| Q2 24 | 1.3% | 8.0% | ||
| Q1 24 | 1.0% | 12.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.44× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 34.11× |
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% |
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
