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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $50.3M, roughly 1.8× READING INTERNATIONAL INC). READING INTERNATIONAL INC runs the higher net margin — -5.1% vs -9.3%, a 4.2% gap on every dollar of revenue. On growth, Commerce.com, Inc. posted the faster year-over-year revenue change (2.9% vs -14.2%). READING INTERNATIONAL INC produced more free cash flow last quarter ($4.1M vs $-2.2M). Over the past eight quarters, READING INTERNATIONAL INC's revenue compounded faster (5.6% 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.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
CMRC vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $50.3M |
| Net Profit | $-8.4M | $-2.6M |
| Gross Margin | 78.3% | — |
| Operating Margin | -7.4% | -1.9% |
| Net Margin | -9.3% | -5.1% |
| Revenue YoY | 2.9% | -14.2% |
| Net Profit YoY | -250.0% | -14.5% |
| EPS (diluted) | $-0.11 | $-0.11 |
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 | $50.3M | ||
| Q3 25 | $86.0M | $52.2M | ||
| Q2 25 | $84.4M | $60.4M | ||
| Q1 25 | $82.4M | $40.2M | ||
| Q4 24 | $87.0M | $58.6M | ||
| Q3 24 | $83.7M | $60.1M | ||
| Q2 24 | $81.8M | $46.8M | ||
| Q1 24 | $80.4M | $45.1M |
| Q4 25 | $-8.4M | $-2.6M | ||
| Q3 25 | $-2.2M | $-4.2M | ||
| Q2 25 | $-8.4M | $-2.7M | ||
| Q1 25 | $-353.0K | $-4.8M | ||
| Q4 24 | $-2.4M | $-2.2M | ||
| Q3 24 | $-7.0M | $-7.0M | ||
| Q2 24 | $-11.3M | $-12.8M | ||
| Q1 24 | $-6.4M | $-13.2M |
| 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% | -1.9% | ||
| Q3 25 | -0.5% | -0.6% | ||
| Q2 25 | -8.0% | 4.8% | ||
| Q1 25 | -2.9% | -17.2% | ||
| Q4 24 | -0.9% | 2.6% | ||
| Q3 24 | -23.0% | -0.6% | ||
| Q2 24 | -16.5% | -16.4% | ||
| Q1 24 | -10.2% | -16.7% |
| Q4 25 | -9.3% | -5.1% | ||
| Q3 25 | -2.6% | -8.0% | ||
| Q2 25 | -9.9% | -4.4% | ||
| Q1 25 | -0.4% | -11.8% | ||
| Q4 24 | -2.7% | -3.8% | ||
| Q3 24 | -8.4% | -11.7% | ||
| Q2 24 | -13.8% | -27.4% | ||
| Q1 24 | -8.0% | -29.4% |
| Q4 25 | $-0.11 | $-0.11 | ||
| Q3 25 | $-0.03 | $-0.18 | ||
| Q2 25 | $-0.10 | $-0.12 | ||
| Q1 25 | $0.00 | $-0.21 | ||
| Q4 24 | $-0.03 | $-0.11 | ||
| Q3 24 | $-0.09 | $-0.31 | ||
| Q2 24 | $-0.15 | $-0.57 | ||
| Q1 24 | $-0.08 | $-0.59 |
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 | $10.5M |
| Total DebtLower is stronger | $157.0M | $185.1M |
| Stockholders' EquityBook value | $39.4M | $-18.2M |
| Total Assets | $308.8M | $434.9M |
| Debt / EquityLower = less leverage | 3.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $141.1M | $10.5M | ||
| Q3 25 | $142.0M | $8.1M | ||
| Q2 25 | $134.5M | $9.1M | ||
| Q1 25 | $120.7M | $5.9M | ||
| Q4 24 | $178.2M | $12.4M | ||
| Q3 24 | $168.4M | $10.1M | ||
| Q2 24 | $275.8M | $9.3M | ||
| Q1 24 | $265.2M | $7.5M |
| Q4 25 | $157.0M | $185.1M | ||
| Q3 25 | $157.3M | — | ||
| Q2 25 | $157.5M | — | ||
| Q1 25 | $157.8M | — | ||
| Q4 24 | $216.5M | $202.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | $340.9M | — | ||
| Q1 24 | $340.5M | — |
| Q4 25 | $39.4M | $-18.2M | ||
| Q3 25 | $42.8M | $-12.1M | ||
| Q2 25 | $38.8M | $-7.7M | ||
| Q1 25 | $38.1M | $-8.1M | ||
| Q4 24 | $33.4M | $-4.4M | ||
| Q3 24 | $29.0M | $1.6M | ||
| Q2 24 | $26.1M | $6.5M | ||
| Q1 24 | $26.9M | $18.0M |
| Q4 25 | $308.8M | $434.9M | ||
| Q3 25 | $309.5M | $435.2M | ||
| Q2 25 | $302.5M | $438.1M | ||
| Q1 25 | $286.3M | $441.0M | ||
| Q4 24 | $340.3M | $471.0M | ||
| Q3 24 | $335.1M | $495.7M | ||
| Q2 24 | $452.5M | $494.9M | ||
| Q1 24 | $442.5M | $494.9M |
| Q4 25 | 3.99× | — | ||
| Q3 25 | 3.67× | — | ||
| Q2 25 | 4.06× | — | ||
| Q1 25 | 4.14× | — | ||
| Q4 24 | 6.49× | — | ||
| 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 | $4.3M |
| Free Cash FlowOCF − Capex | $-2.2M | $4.1M |
| FCF MarginFCF / Revenue | -2.4% | 8.2% |
| Capex IntensityCapex / Revenue | 3.5% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $980.0K | $4.3M | ||
| Q3 25 | $10.6M | $295.0K | ||
| Q2 25 | $13.6M | $1.6M | ||
| Q1 25 | $401.0K | $-7.7M | ||
| Q4 24 | $12.4M | $8.0M | ||
| Q3 24 | $5.6M | $1.3M | ||
| Q2 24 | $11.7M | $-10.4M | ||
| Q1 24 | $-3.4M | $-2.8M |
| Q4 25 | $-2.2M | $4.1M | ||
| Q3 25 | $7.6M | $-246.0K | ||
| Q2 25 | $11.9M | $1.2M | ||
| Q1 25 | $-424.0K | $-8.0M | ||
| Q4 24 | $11.6M | $7.0M | ||
| Q3 24 | $4.5M | $-1.1M | ||
| Q2 24 | $10.7M | $-10.6M | ||
| Q1 24 | $-4.2M | $-4.7M |
| Q4 25 | -2.4% | 8.2% | ||
| Q3 25 | 8.8% | -0.5% | ||
| Q2 25 | 14.1% | 1.9% | ||
| Q1 25 | -0.5% | -19.8% | ||
| Q4 24 | 13.3% | 12.0% | ||
| Q3 24 | 5.4% | -1.8% | ||
| Q2 24 | 13.0% | -22.7% | ||
| Q1 24 | -5.3% | -10.4% |
| Q4 25 | 3.5% | 0.3% | ||
| Q3 25 | 3.4% | 1.0% | ||
| Q2 25 | 2.0% | 0.6% | ||
| Q1 25 | 1.0% | 0.6% | ||
| Q4 24 | 0.9% | 1.7% | ||
| Q3 24 | 1.3% | 4.0% | ||
| Q2 24 | 1.3% | 0.5% | ||
| Q1 24 | 1.0% | 4.3% |
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% |
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
