vs
Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $89.5M, roughly 1.6× Commerce.com, Inc.). Purple Innovation, Inc. runs the higher net margin — -2.3% vs -9.3%, a 7.1% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 2.9%). Commerce.com, Inc. produced more free cash flow last quarter ($-2.2M vs $-7.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% 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.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
CMRC vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $140.7M |
| Net Profit | $-8.4M | $-3.2M |
| Gross Margin | 78.3% | 41.9% |
| Operating Margin | -7.4% | -1.6% |
| Net Margin | -9.3% | -2.3% |
| Revenue YoY | 2.9% | 9.1% |
| Net Profit YoY | -250.0% | 62.1% |
| EPS (diluted) | $-0.11 | $0.03 |
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 | $140.7M | ||
| Q3 25 | $86.0M | $118.8M | ||
| Q2 25 | $84.4M | $105.1M | ||
| Q1 25 | $82.4M | $104.2M | ||
| Q4 24 | $87.0M | $129.0M | ||
| Q3 24 | $83.7M | $118.6M | ||
| Q2 24 | $81.8M | $120.3M | ||
| Q1 24 | $80.4M | $120.0M |
| Q4 25 | $-8.4M | $-3.2M | ||
| Q3 25 | $-2.2M | $-11.7M | ||
| Q2 25 | $-8.4M | $-17.3M | ||
| Q1 25 | $-353.0K | $-19.1M | ||
| Q4 24 | $-2.4M | $-8.5M | ||
| Q3 24 | $-7.0M | $-39.2M | ||
| Q2 24 | $-11.3M | $27.0K | ||
| Q1 24 | $-6.4M | $-50.2M |
| Q4 25 | 78.3% | 41.9% | ||
| Q3 25 | 78.4% | 42.8% | ||
| Q2 25 | 79.0% | 35.9% | ||
| Q1 25 | 79.4% | 39.4% | ||
| Q4 24 | 77.6% | 42.9% | ||
| Q3 24 | 76.3% | 29.7% | ||
| Q2 24 | 75.8% | 40.7% | ||
| Q1 24 | 77.1% | 34.8% |
| Q4 25 | -7.4% | -1.6% | ||
| Q3 25 | -0.5% | -10.2% | ||
| Q2 25 | -8.0% | -13.5% | ||
| Q1 25 | -2.9% | -13.9% | ||
| Q4 24 | -0.9% | -6.0% | ||
| Q3 24 | -23.0% | -39.5% | ||
| Q2 24 | -16.5% | -12.1% | ||
| Q1 24 | -10.2% | -19.3% |
| Q4 25 | -9.3% | -2.3% | ||
| Q3 25 | -2.6% | -9.9% | ||
| Q2 25 | -9.9% | -16.5% | ||
| Q1 25 | -0.4% | -18.4% | ||
| Q4 24 | -2.7% | -6.6% | ||
| Q3 24 | -8.4% | -33.1% | ||
| Q2 24 | -13.8% | 0.0% | ||
| Q1 24 | -8.0% | -41.8% |
| Q4 25 | $-0.11 | $0.03 | ||
| Q3 25 | $-0.03 | $0.11 | ||
| Q2 25 | $-0.10 | $0.16 | ||
| Q1 25 | $0.00 | $0.18 | ||
| Q4 24 | $-0.03 | $0.08 | ||
| Q3 24 | $-0.09 | $0.36 | ||
| Q2 24 | $-0.15 | $0.00 | ||
| Q1 24 | $-0.08 | $0.47 |
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 | $24.3M |
| Total DebtLower is stronger | $157.0M | $126.7M |
| Stockholders' EquityBook value | $39.4M | $-29.7M |
| Total Assets | $308.8M | $296.3M |
| Debt / EquityLower = less leverage | 3.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $141.1M | $24.3M | ||
| Q3 25 | $142.0M | $32.4M | ||
| Q2 25 | $134.5M | $34.2M | ||
| Q1 25 | $120.7M | $21.6M | ||
| Q4 24 | $178.2M | $29.0M | ||
| Q3 24 | $168.4M | $23.4M | ||
| Q2 24 | $275.8M | $23.4M | ||
| Q1 24 | $265.2M | $34.5M |
| Q4 25 | $157.0M | $126.7M | ||
| Q3 25 | $157.3M | — | ||
| Q2 25 | $157.5M | — | ||
| Q1 25 | $157.8M | — | ||
| Q4 24 | $216.5M | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | $340.9M | — | ||
| Q1 24 | $340.5M | — |
| Q4 25 | $39.4M | $-29.7M | ||
| Q3 25 | $42.8M | $-26.9M | ||
| Q2 25 | $38.8M | $-15.6M | ||
| Q1 25 | $38.1M | $1.3M | ||
| Q4 24 | $33.4M | $20.2M | ||
| Q3 24 | $29.0M | $28.0M | ||
| Q2 24 | $26.1M | $66.4M | ||
| Q1 24 | $26.9M | $65.5M |
| Q4 25 | $308.8M | $296.3M | ||
| Q3 25 | $309.5M | $302.1M | ||
| Q2 25 | $302.5M | $303.8M | ||
| Q1 25 | $286.3M | $293.8M | ||
| Q4 24 | $340.3M | $307.8M | ||
| Q3 24 | $335.1M | $309.3M | ||
| Q2 24 | $452.5M | $362.1M | ||
| Q1 24 | $442.5M | $382.1M |
| Q4 25 | 3.99× | — | ||
| Q3 25 | 3.67× | — | ||
| Q2 25 | 4.06× | — | ||
| Q1 25 | 4.14× | — | ||
| Q4 24 | 6.49× | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| 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 | $-7.8M |
| FCF MarginFCF / Revenue | -2.4% | -5.5% |
| Capex IntensityCapex / Revenue | 3.5% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $980.0K | $-5.8M | ||
| Q3 25 | $10.6M | $-968.0K | ||
| Q2 25 | $13.6M | $-4.0M | ||
| Q1 25 | $401.0K | $-23.1M | ||
| Q4 24 | $12.4M | $6.8M | ||
| Q3 24 | $5.6M | $1.1M | ||
| Q2 24 | $11.7M | $-8.9M | ||
| Q1 24 | $-3.4M | $-16.8M |
| Q4 25 | $-2.2M | $-7.8M | ||
| Q3 25 | $7.6M | $-1.8M | ||
| Q2 25 | $11.9M | $-7.0M | ||
| Q1 25 | $-424.0K | $-25.3M | ||
| Q4 24 | $11.6M | $5.7M | ||
| Q3 24 | $4.5M | $101.0K | ||
| Q2 24 | $10.7M | $-11.0M | ||
| Q1 24 | $-4.2M | $-19.9M |
| Q4 25 | -2.4% | -5.5% | ||
| Q3 25 | 8.8% | -1.5% | ||
| Q2 25 | 14.1% | -6.6% | ||
| Q1 25 | -0.5% | -24.3% | ||
| Q4 24 | 13.3% | 4.4% | ||
| Q3 24 | 5.4% | 0.1% | ||
| Q2 24 | 13.0% | -9.2% | ||
| Q1 24 | -5.3% | -16.5% |
| Q4 25 | 3.5% | 1.4% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 2.0% | 2.8% | ||
| Q1 25 | 1.0% | 2.2% | ||
| Q4 24 | 0.9% | 0.8% | ||
| Q3 24 | 1.3% | 0.9% | ||
| Q2 24 | 1.3% | 1.7% | ||
| Q1 24 | 1.0% | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -330.22× | ||
| Q1 24 | — | — |
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% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
