Commerce.com Inc., formerly BigCommerce Holdings, reported modest revenue growth in its fiscal Q4 and full-year 2025, while narrowing its annual net loss and continuing a shift toward larger enterprise customers and AI-enabled commerce tools.
For its Q4 ending Dec. 31, 2025, Commerce.com revenue increased to $89.5 million. That’s up from $87.0 million in the same period of 2024 — a gain of $2.5 million, or 2.9%.
Subscription revenue rose to $65.2 million from $62.3 million, up $2.9 million, or 4.6%. Meanwhile, partner and services revenue edged down to $24.4 million from $24.7 million, a decline of 1.5%.
Commerce posted a net loss of $8.4 million in the quarter, compared with a $2.4 million net loss a year earlier. Operating loss widened to $6.6 million, from $751,000 in Q4 2024.
Gross profit in the quarter increased to $70.1 million from $67.6 million, as gross margin held steady at 78%.
Geographically, U.S. revenue rose to $67.1 million from $66.1 million, up 1.5%. Revenue in Europe, the Middle East and Africa (EMEA) climbed to $12.0 million from $10.0 million, an increase of 20.4%. Asia-Pacific revenue declined to $6.4 million from $6.7 million, down 5.4%.
Currently, 112 of the Top 2000 online retailers in North America use BigCommerce (powered by Commerce.com) as their ecommerce platform, according to Digital Commerce 360 data. The Top 2000 Database ranks North America’s largest online retailers based on their annual ecommerce sales and more.
Commerce.com (formerly BigCommerce) revenue in 2025
For its full-year fiscal 2025, Commerce reported total revenue of $342.3 million. That’s up from $332.9 million in 2024 — an increase of $9.4 million, or 2.8%.
Subscription revenue grew to $255.6 million from $247.9 million, up $7.8 million, or 3.1%. Partner and services revenue rose slightly to $86.7 million from $85.1 million, up 1.9%.
The company’s full-year net loss narrowed to $19.3 million, compared with $27.0 million in 2024. That was an improvement of $7.7 million, or 28.4%. Operating loss improved to $16.2 million, from $41.7 million the prior year.
Gross profit for the year totaled $269.6 million, up from $255.3 million, as gross margin improved to 79% from 77%.
Commerce said annual revenue run-rate, or ARR, reached $359.1 million as of Dec. 31, up 3% from a year earlier. ARR from accounts with at least one enterprise plan totaled $287.2 million, up 10%, and represented 80% of total ARR, compared with 75% at the end of 2024.
The number of enterprise accounts increased to 6,648, up 13% year over year. Average revenue per enterprise account declined 3% to $43,200.
Gross merchandise volume (GMV) — the total dollar value of transactions processed on the platform — was $8.9 billion in the fourth quarter and $31.7 billion for the full year, with annual GMV up 12.3% from $28.2 billion in 2024.
CEO Travis Hess said 2025 was “a year of material business transformation,” citing efforts to streamline operations, expand margins and reposition the company around AI-enabled “agentic commerce.” During the year, Commerce expanded integrations with payment providers including PayPal and Stripe and was named as a partner in Google’s Universal Commerce Protocol initiative.
Looking ahead, Commerce said it expects first-quarter 2026 revenue of $82.5 million to $83.5 million. For the full year, it projected revenue of $347.5 million to $369.5 million and non-GAAP operating income of $34 million to $53 million.
Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports. Here’s last quarter’s update on BigCommerce revenue.
Sign up
Sign up for a complimentary subscription to Digital Commerce 360 B2B News. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at mark@digitalcommerce360.com. Follow him on Twitter @markbrohan. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube.