Commerce’s third-quarter revenue fell 2.1% from a year earlier to $84.2 million, even though GMV on its platforms rose 14% to $9 billion. Commerce’s early planning assumes 2027 revenue will be roughly flat with 2026, with formal guidance due on its Q4 call. Cost cuts pushed non-GAAP operating income to $8 million, above Commerce’s $3.3 million to $5.3 million guidance, so it raised its full-year forecast for that metric to $35.3 million to $37.3 million. But $4 million in restructuring charges left a GAAP net loss of $3.2 million, and Commerce now expects to lose money on a GAAP basis for 2026. CFO and COO Daniel Lentz is leaving November 13 to become CFO of another public tech company, and finance SVP Tyler Duncan will serve as interim CFO.
