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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and SMARTFINANCIAL INC. (SMBK). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $53.8M, roughly 1.7× SMARTFINANCIAL INC.). SMARTFINANCIAL INC. runs the higher net margin — 25.4% vs -9.3%, a 34.8% gap on every dollar of revenue. Over the past eight quarters, SMARTFINANCIAL INC.'s revenue compounded faster (15.4% 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.
SmartFinancial Inc. is a U.S.-based bank holding company that operates its wholly owned subsidiary SmartBank. It offers a full range of retail and commercial banking products including deposit accounts, personal and business loans, mortgage services, and wealth management solutions, primarily serving individual customers and small-to-medium enterprises across the Southeastern United States.
CMRC vs SMBK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $53.8M |
| Net Profit | $-8.4M | $13.7M |
| Gross Margin | 78.3% | — |
| Operating Margin | -7.4% | — |
| Net Margin | -9.3% | 25.4% |
| Revenue YoY | 2.9% | — |
| Net Profit YoY | -250.0% | 21.6% |
| EPS (diluted) | $-0.11 | $0.81 |
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 | — | $53.8M | ||
| Q4 25 | $89.5M | $53.3M | ||
| Q3 25 | $86.0M | $51.1M | ||
| Q2 25 | $84.4M | $49.2M | ||
| Q1 25 | $82.4M | $46.8M | ||
| Q4 24 | $87.0M | $46.8M | ||
| Q3 24 | $83.7M | $44.2M | ||
| Q2 24 | $81.8M | $40.4M |
| Q1 26 | — | $13.7M | ||
| Q4 25 | $-8.4M | $13.7M | ||
| Q3 25 | $-2.2M | $13.7M | ||
| Q2 25 | $-8.4M | $11.7M | ||
| Q1 25 | $-353.0K | $11.3M | ||
| Q4 24 | $-2.4M | $9.6M | ||
| Q3 24 | $-7.0M | $9.1M | ||
| Q2 24 | $-11.3M | $8.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -7.4% | 31.3% | ||
| Q3 25 | -0.5% | 33.2% | ||
| Q2 25 | -8.0% | 29.0% | ||
| Q1 25 | -2.9% | 29.0% | ||
| Q4 24 | -0.9% | 26.5% | ||
| Q3 24 | -23.0% | 24.3% | ||
| Q2 24 | -16.5% | 25.6% |
| Q1 26 | — | 25.4% | ||
| Q4 25 | -9.3% | 25.7% | ||
| Q3 25 | -2.6% | 26.8% | ||
| Q2 25 | -9.9% | 23.8% | ||
| Q1 25 | -0.4% | 24.0% | ||
| Q4 24 | -2.7% | 20.6% | ||
| Q3 24 | -8.4% | 20.7% | ||
| Q2 24 | -13.8% | 19.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | $-0.11 | $0.81 | ||
| Q3 25 | $-0.03 | $0.81 | ||
| Q2 25 | $-0.10 | $0.69 | ||
| Q1 25 | $0.00 | $0.67 | ||
| Q4 24 | $-0.03 | $0.57 | ||
| Q3 24 | $-0.09 | $0.54 | ||
| Q2 24 | $-0.15 | $0.48 |
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 | $346.1M |
| Total DebtLower is stronger | $157.0M | — |
| Stockholders' EquityBook value | $39.4M | $562.2M |
| Total Assets | $308.8M | $5.9B |
| Debt / EquityLower = less leverage | 3.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $346.1M | ||
| Q4 25 | $141.1M | $464.4M | ||
| Q3 25 | $142.0M | $557.1M | ||
| Q2 25 | $134.5M | $365.1M | ||
| Q1 25 | $120.7M | $423.0M | ||
| Q4 24 | $178.2M | $387.6M | ||
| Q3 24 | $168.4M | $192.9M | ||
| Q2 24 | $275.8M | $342.8M |
| Q1 26 | — | — | ||
| Q4 25 | $157.0M | — | ||
| Q3 25 | $157.3M | $1.3M | ||
| Q2 25 | $157.5M | $7.0M | ||
| Q1 25 | $157.8M | $7.6M | ||
| Q4 24 | $216.5M | $8.1M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | $340.9M | $12.7M |
| Q1 26 | — | $562.2M | ||
| Q4 25 | $39.4M | $552.4M | ||
| Q3 25 | $42.8M | $538.4M | ||
| Q2 25 | $38.8M | $519.0M | ||
| Q1 25 | $38.1M | $505.8M | ||
| Q4 24 | $33.4M | $491.3M | ||
| Q3 24 | $29.0M | $489.0M | ||
| Q2 24 | $26.1M | $472.5M |
| Q1 26 | — | $5.9B | ||
| Q4 25 | $308.8M | $5.9B | ||
| Q3 25 | $309.5M | $5.8B | ||
| Q2 25 | $302.5M | $5.5B | ||
| Q1 25 | $286.3M | $5.4B | ||
| Q4 24 | $340.3M | $5.3B | ||
| Q3 24 | $335.1M | $4.9B | ||
| Q2 24 | $452.5M | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | 3.99× | — | ||
| Q3 25 | 3.67× | 0.00× | ||
| Q2 25 | 4.06× | 0.01× | ||
| Q1 25 | 4.14× | 0.02× | ||
| Q4 24 | 6.49× | 0.02× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | 13.06× | 0.03× |
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 | $61.7M | ||
| Q3 25 | $10.6M | $16.9M | ||
| Q2 25 | $13.6M | $14.0M | ||
| Q1 25 | $401.0K | $14.3M | ||
| Q4 24 | $12.4M | $52.7M | ||
| Q3 24 | $5.6M | $12.4M | ||
| Q2 24 | $11.7M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.2M | $59.3M | ||
| Q3 25 | $7.6M | $16.6M | ||
| Q2 25 | $11.9M | $13.2M | ||
| Q1 25 | $-424.0K | $13.4M | ||
| Q4 24 | $11.6M | $46.3M | ||
| Q3 24 | $4.5M | $11.3M | ||
| Q2 24 | $10.7M | $15.4M |
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | 111.3% | ||
| Q3 25 | 8.8% | 32.4% | ||
| Q2 25 | 14.1% | 26.9% | ||
| Q1 25 | -0.5% | 28.5% | ||
| Q4 24 | 13.3% | 98.9% | ||
| Q3 24 | 5.4% | 25.7% | ||
| Q2 24 | 13.0% | 38.2% |
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 4.5% | ||
| Q3 25 | 3.4% | 0.6% | ||
| Q2 25 | 2.0% | 1.6% | ||
| Q1 25 | 1.0% | 2.0% | ||
| Q4 24 | 0.9% | 13.7% | ||
| Q3 24 | 1.3% | 2.4% | ||
| Q2 24 | 1.3% | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.50× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | — | 5.47× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 2.07× |
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% |
SMBK
| Net Interest Income | $45.9M | 85% |
| Noninterest Income | $7.9M | 15% |
