CMRC Q3 2025 Earnings Presentation

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© Commerce. All rights reserved. Conﬁdential. 2 DISCLAIMER This presentation has been prepared by Commerce.com, Inc. (“we,” “us,” “our,” “Commerce,” “Commerce.com” or the “Company”). This presentation may contain forward-looking statements which constitute the views of the Company with respect to future events which can be identiﬁed by the use of forward-looking terminology such as “anticipate,” “believe,” “budget,” “can,” “continue,” “commit,” “control,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “target” and similar words or phrases. However, not all forward-looking statements contain these identifying words. These statements may relate to our market size and growth strategy, our estimated and projected costs, margins, revenue, expenditures and customer and ﬁnancial growth rates, our ability to effectively develop and expand our marketing and sales capabilities, our ﬁnancial outlook, our plans and objectives for future operations, initiatives or strategies. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the forward-looking statements. These assumptions, uncertainties and risks include that, among others, our business would be harmed by any decline in new customers, renewals or upgrades, our limited operating history makes it difﬁcult to evaluate our prospects and future results of operations, we operate in competitive markets, we may not be able to sustain or improve our revenue growth rate in the future, our business would be harmed by any signiﬁcant interruptions, delays or outages in services from our platform or certain social media platforms, and a cybersecurity-related attack, signiﬁcant data breach or disruption of the information technology systems or networks could negatively affect our business, our ability to successfully execute our rebranding initiative, our increased focus on AI enablement, market size and growth strategy, and such other risks and uncertainties described more fully in our documents ﬁled with or furnished to the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 as ﬁled with the SEC on February 27, 2025, our Quarterly Reports on Form 10-Q ﬁled with the SEC on May 8, 2025 and July 31, 2025 and the future annual, quarterly and current reports that we ﬁle with the SEC. The statements are made based upon management’s beliefs and assumptions and on information available to management as of the date of this presentation. Forward-looking statements involve both known and unknown risks, and there is no assurance that such statements are correct or will prove, with the passage of time, to be correct. Actual events, results, achievements or performance may differ materially from those reﬂected, implied or contemplated by such forward looking statements. All forward-looking statements attributable to us are expressly qualiﬁed by these cautionary statements. Any past performance information presented herein is not a guarantee or indication of future results and should not be relied upon for such reason. The information contained herein may change at any time without notice, and we undertake no duty to update this information except as required by law. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such data and estimates. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Neither we nor our afﬁliates, advisors or representatives makes any representation as to the accuracy or completeness of that data or undertake to update such data after the date of this presentation. In addition to ﬁnancial information prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), we use certain non-GAAP ﬁnancial measures to clarify and enhance our understanding, and aid in the period-to-period comparison, of our performance. We believe that these non-GAAP ﬁnancial measures provide supplemental information that is meaningful when assessing our operating performance because they exclude the impact of certain amounts that our management and board of directors do not consider part of core operating results when assessing our operational performance, allocating resources, preparing annual budgets, and determining compensation. The non-GAAP measures have limitations, including that they may not be directly comparable to other companies, and you should not consider them in isolation or as a substitute for or superior to our GAAP ﬁnancial information. See the Appendix to this presentation for a reconciliation of non-GAAP ﬁnancial measures to their nearest GAAP equivalent.

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© Commerce. All rights reserved. Conﬁdential. Powering an open, intelligent ecosystem for next-generation commerce. Our vision We empower businesses to innovate, grow, and thrive by providing an open, AI-driven commerce ecosystem. We connect the tools and systems that power growth, enabling businesses to unlock the full potential of their data, deliver seamless and personalized experiences across every channel, and adapt swiftly to an ever-changing market. Our mission

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© Commerce. All rights reserved. Conﬁdential. 5 Solving the commerce problems of today. Powering the agents of tomorrow. Traditional commerce problems we solve ● Fragmented discovery and loss of buyer visibility Shoppers and buyers are using more channels than ever, making it harder for brands to be seen and to excite and track engagement across platforms. ● Slow digital adoption and outdated buying experiences Commerce helps manufacturers and distributors accelerate their digital maturity without heavy IT overhead. ● Complex, rigid tech stacks that can’t move fast enough Commerce simpliﬁes tech architectures with modular and industry-speciﬁc solutions without integration overhead, empowering and accelerating business teams. Agentic commerce challenges we solve ● AI search engines are skipping storefronts New requirements for visibility: To surface in AI-driven buying journeys (Perplexity, Microsoft Co-Pilot, Google Gemini), Commerce powers structured & unstructured product data, ﬂexible storefronts, and extensible APIs for brands. ● Brands are losing control of the experience Our visual and modular stack helps brands create, control, and optimize experiences across every surface. ● AI agents will soon handle transactions Our architecture is ready for agentic commerce — enabling ﬂexible APIs, Model Context Protocols (MCP), pricing logic, and real-time decisioning. A NEW ERA OF AI-LED COMMERCE Refer to the AI glossary on Slide 36.

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© Commerce. All rights reserved. Conﬁdential. From product data to conversion: An end-to-end AI-optimized commerce stack. 6 OVERVIEW Commerce engine BIGCOMMERCE B2C / B2B commerce Product catalog Orders Cart Promotions Personalization Normalization Optimization Syndication Data orchestration Enrichment Storefront MAKESWIFT BigCommerce storefront Intelligent storefront Agentic search and discovery Agentic commerce Agentic checkout FEEDONOMICS Platform agnostic intelligence FEEDONOMICS

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© Commerce. All rights reserved. Conﬁdential. 7 B2C COMMERCE $ $$ B2B OMNICHANNEL AGENTIC COMMERCE $$$ Medium complex operational needs Highly complex operational needs Extremely complex operational needs AI driven shopping & buying powered by agents WHO WE SERVE $$$$ Agentic Search Agentic Checkout

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© Commerce. All rights reserved. Conﬁdential. 8 OMNICHANNEL ERA Moving forward into the agentic era. OVERVIEW Mid-Market Expansion COMPOSABLE ERA Acquires Feedonomics Acquires B2B Ninja AGENTIC ERA With API-centric architecture Leading data management platform Unifying B2B & B2C on single platform Acquires Makeswift Builds Catalyst AI Partnerships Composable visual editor Flexible integrated architecture Industry leading partnerships for data and payments to top agentic commerce platforms Commerce Family Announces brand family, unifying data, platform, and content needs for agentic AI future Platform Needs Data Needs Content Needs

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© Commerce. All rights reserved. Conﬁdential. 9 OVERVIEW Non-GAAP Gross Margin* Operating Cash Flow* ($51M) $11M Non-GAAP Operating Income/(Loss)* ($11M) $8M 3Q22 3Q25 79%BigCommerce at 9/30/2025. ARR $356M 3Q25 Enterprise ARR 76% *See the Appendix to this presentation for a reconciliation of non-GAAP ﬁnancial measures to their nearest GAAP equivalent. 3Q22 3Q25

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© Commerce. All rights reserved. Conﬁdential. 10 Commerce: Built for businesses. Ready for agents. OVERVIEW Commerce gives businesses unmatched control over their product, data, and brand experience across both traditional and emerging digital channels. In a world where search is changing, buying decisions are guided by AI, and commerce surfaces are fragmenting, businesses face a new imperative: be discoverable, be relevant, and be fast. Data Enrich, structure, and syndicate product data to discovery platforms and agentic engines. Engine Power transactions with enterprise-grade B2C / B2B infrastructure. Experience Create AI-optimized, no-code customer journeys at the speed of change. Where traditional and agentic commerce converge Only Commerce gives you the stack to compete — no matter who (or what) is doing the buying.

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© Commerce. All rights reserved. Conﬁdential. AD CHANNELS CHECKOUT, FRAUD, LENDING POINT OF SALE Item PAYMENTS MARKETPLACES AGENTIC SEARCH CMS ERP MARTECH SHIPPING AND FULFILLMENT TAX SALES AND MERCH PIMOMS A global ecosystem of best-of-breed partner solutions. 90 + PREFERRED & ELITE PARTNERS

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© Commerce. All rights reserved. Conﬁdential. 13 Execution and vision leadership Strong mid-market and enterprise execution. Vision aligned to emerging AI, B2B, and composable commerce trends. 2024 Trusted by users BigCommerce seen as trusted partner. Feedonomics seen as reliable, transparent, and easy to integrate. 2025 G2 grid leader in key performance BigCommerce top in ROI, ease of use, and multichannel. Feedonomics in catalog management and automation. 2024 Top rated for B2B and automation BigCommerce praised for B2B features and pricing ﬂexibility. Feedonomics for UI, automation, and support. 2024 Best-in-class B2B capabilities 24 medals across Paradigm B2B Combine (MM & ENT). #1 in vision, modularity, ecosystem support, and customer ﬁt. 2025 Strong performer in B2C and B2B reports Second overall in B2C report. High scores for product vision, partner strategy, and commerce ecosystem readiness. 2024 Multichannel commerce leader Leader in B2C, B2B, and Headless commerce platforms. Scalable architecture, seamless integration and fast onboarding. 2024 AI readiness Strategic partnerships and integrations into Perplexity, Microsoft Co-Pilot, and Google Shopping. 2025 INDUSTRY AND ANALYST AWARDS & ACCOLADES

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© Commerce. All rights reserved. Conﬁdential. 15 Investment highlights. Multi-billion dollar TAM expansion Combines strengths across core commerce (BigCommerce), product syndication and AI channel distribution (Feedonomics), and low-code experience orchestration (Makeswift). Extends reach into marketplaces, retail media, agentic search, and personalization. A uniﬁed platform — built for the AI era A differentiated, modular architecture that combines best-in-class commerce, feed management, and visual experience design — positioned for agentic commerce and the rise of AI-discovery platforms. Rebuilt to execute: SaaS veteran leadership, clear brand identity, GTM at scale Strong leadership, new GTM focus, and uniﬁed branding position. Commerce to lead in enterprise, B2B and AI-powered commerce. High-quality relationships that scale Tens of thousands of customers, strategic alliances across Google, Microsoft, Meta, OpenAI, Perplexity, and a curated ISV and agency ecosystem. High gross margins, expanding cash ﬂow, disciplined growth High gross margins, expanding proﬁtability, and improving cash ﬂow demonstrate a disciplined model built to scale efﬁciently. Market leadership in modern B2B commerce Commerce is cementing its leadership in mid-market and enterprise B2B ecommerce. Our capabilities address complex quoting, hierarchy, and integration needs, earning us the highest medal count in Paradigm B2B Combine for three years running.

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© Commerce. All rights reserved. Conﬁdential. 16 Accelerate growth and launch faster $20M+ Additional net revenue per year per 100 unique customers 13% Increase in AOV 19% Average increase in return on ad spend Streamline operations 24% More efﬁcient sales teams 50% More productive digital platform managers 25% Quicker business transaction execution Lower overall technology costs 391% ROI in three years 7 months To positive ROI $10K+ IT cost avoidance per 1,000 customers Manufacturers, distributors, and wholesalers look to Commerce to solve these business challenges: WHY 12,000+ LEADING B2B BRANDS TRUST COMMERCE

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© Commerce. All rights reserved. Conﬁdential. B2B functionality out-of-the-box 17 And much more, supporting complex B2B workﬂows online, driving operational efﬁciency. Multi-company hierarchy Conﬁgure-price-quote Invoice portal Supporting enterprise B2B scale Operational efﬁciency and scalability for diverse selling models. +17K Data feeds +30M Products +20M Product conﬁgurations Driving business agility Peace of mind, easier compliance, and a future-ready tech stack. Composable-led architecture Flexible payments Multi-storefront Why B2Bs choose Commerce: COMMERCE DIFFERENTIATION IN MARKET

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© Commerce. All rights reserved. Conﬁdential. 18 Accelerate growth and launch faster 61.9% Average checkout conversion rate 130+ Leading payments providers 100% Google Lighthouse scores out-of-the-box Streamline operations $180k+ Average savings on integrations development 15% Average increase in channel revenue 19% Average increase in return on ad spend Lower overall technology costs 211% ROI in less than eight months $700k+ to cost savings by retiring legacy solution 90% developer time savings by year three B2C brands and retailers look to Commerce to solve these business challenges: WHY LEADING B2C BRANDS TRUST COMMERCE

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© Commerce. All rights reserved. Conﬁdential. Customization capabilities 19 Why B2Cs choose Commerce: COMMERCE DIFFERENTIATION IN MARKET Better conversion rates, ﬂexible control and real-time data orchestration. Custom checkout and composable led architecture Real-time visual page editing Dynamic feed-based personalization Supports complex business models Operational efﬁciency and scalability for diverse selling models. Multi-storefront and ﬂexible pricing Component-based site ﬂexibility Automated channel syndication Uniﬁed ecommerce infrastructure Peace of mind, easier compliance, and a future-ready tech stack. Pre-integrated composable-led architecture Low-code visual development AI-optimized product data management

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© Commerce. All rights reserved. Conﬁdential. Discoverability in the AI era 20 Ensure visibility in Perplexity, Copilot, ChatGPT, Gemini and next-gen search surfaces. Structured and unstructured product data AI-optimized storefronts Extensible APIs and MCPs* Merchant control and brand integrity Prevent disintermediation and maintain brand narrative across AI agents. Dynamic and customizable storefronts Own your data and representation Composable infrastructure Intelligent and agentic commerce Win at the edge: Real-time relevance, conversion, and competitive advantage. Agentic search and checkout Syndicated data for AI consumption AI-personalized experiences Why we win in the agentic commerce era: COMMERCE DIFFERENTIATION IN MARKET *MCP (Model Context Protocol): A framework for delivering structured, contextual product data to AI models, enabling accurate, real-time responses in agentic commerce experiences.

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© Commerce. All rights reserved. Conﬁdential. Revenue model Sales-led motions Self-serve motions SaaS software subscription Direct sales to mid-market and larger customers Self-serve to small businesses SaaS software subscription that scales with growth in AI Direct sales to mid-market and larger customers Freemium and self-serve for small business BigCommerce customers. Coming late 2025. SaaS software subscription Limited direct sales to mid-market and larger customers Freemium and self-serve for all BigCommerce customers. Coming early 2026. Take-rate or variable rate fee on referral volume to technology partners Co-sell motion with technology partners Expanding to self-serve adoption with future branded payments solution. Commerce revenue model. 22 FINANCIALS Partner & Services Revenue

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© Commerce. All rights reserved. Conﬁdential. Total ARR – CAGR Total ARR – YoY 23 3Q20 (IPO) $167M 3Q25 $356M 3Q24 4Q24 1Q25 2Q25 $351M 3Q25 +5% YoY +4% YoY +3% YoY +3% YoY 16% CAGR Note: Annual revenue run-rate (“ARR”) is calculated as the sum of: (1) contractual monthly recurring revenue at the end of the period, which includes platform subscription fees, invoiced growth adjustments, feed management subscription fees, recurring professional services revenue, and other recurring revenue, multiplied by twelve to prospectively annualize recurring revenue, and (2) the sum of the trailing twelve-month non-recurring and variable revenue, which includes one-time partner integrations, one-time fees, payments revenue share, and any other revenue that is non-recurring and variable. Executing with discipline, building for momentum. FINANCIALS $348M $350M $355M $356M +2% YoY

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© Commerce. All rights reserved. Conﬁdential. Enterprise ARR – CAGR Enterprise ARR – YoY 24 3Q20 (IPO) $90M 3Q25 $269M 3Q24 4Q24 $257M 1Q25 $262M 2Q25 $264M 3Q25 $269M+7% YoY +7% YoY +6% YoY +6% YoY Enterprise % of Total ARR 3Q20 (IPO) 54% 3Q25 25% CAGR 46% 76% 24% Enterprise ARR Non Enterprise ARR Note: Enterprise accounts represent any account with at least one BigCommerce enterprise plan FINANCIALS Enterprise: High value customers, long term growth path. $269M +5% YoY

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© Commerce. All rights reserved. Conﬁdential. $82 Total Revenue Annual CAGR Total Revenue Quarter YoY 25 3Q24 $62M 4Q24 1Q25 2Q25 3Q25 $63M $62M $62M $64M Total Revenue Annual YoY 2022 Subscription Services Partner and Services 2021 $155M 2023 2024 +44% YoY $206M $229M $248M Total Revenue Quarter CAGR 20242020 (IPO) $104M $248 $49M $152M $85M $333M 3Q253Q20 (IPO) $27M $65M $13M $40M $21M $86M 17% CAGR 22% CAGR $65M $73M $80M $85M$220M $279M $333M $309M+27% YoY +11% YoY +8% YoY $21M $25M $20M $21M $84M $87M $84M +7% YoY +3% YoY +3% YoY +3% YoY $82M FINANCIALS Our focus: accelerating revenue growth efﬁciently. $65M $21M $86M +3% YoY

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© Commerce. All rights reserved. Conﬁdential. Non-GAAP Operating Expense as % of Revenue – Annual Non-GAAP Operating Expense as % of Revenue – Quarter 26 2020 (IPO) 48% 2024 36% 30% 18% 20% 16% Non-GAAP Operating Margin (18%) 6% 3Q20 (IPO) 49% 3Q25 40% 29% 19% 18% 12% Non-GAAP Operating Margin (18%) 9% S&M R&D G&AS&M R&D G&A Note: Non-GAAP gross proﬁt and gross margin exclude the effect of stock-based compensation and related payroll tax expense. See appendix for reconciliation of Non-GAAP measures to GAAP. FINANCIALS Operating discipline drives sustained margin expansion.

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© Commerce. All rights reserved. Conﬁdential. Enterprise Account ARPA – CAGR Number of Enterprise Accounts – YoY 27 3Q24 4Q24 1Q25 2Q25 5.9k 5.9k 5.8k 5.8k Number of Enterprise Accounts – CAGR 3Q253Q20 (IPO) $28.4k $46.8k 3Q253Q20 (IPO) 3.2k 5.8k11% CAGR -1% YoY -2% YoY -2% YoY -3% YoY Enterprise Account ARPA – YoY 3Q24 4Q24 1Q25 2Q25 $43.6k $44.5k $45.3k $46.4k +8% YoY +9% YoY +9% YoY +9% YoY 13% CAGR Note: Average revenue per account (“ARPA”) for enterprise accounts is calculated at the end of a period by including customer-billed revenue and an allocation of partner and services revenue, where applicable. Enterprise accounts represent any account with at least one BigCommerce enterprise plan. Year-over-year growth rates may not compute due to rounding. FINANCIALS Growing average revenue per account. 3Q25 $46.8k +7% YoY 3Q25 5.8k -2% YoY

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© Commerce. All rights reserved. Conﬁdential. 30 GAAP income statement. FINANCIALS Three Months Ended September 30 Unaudited) 2025 2024 Revenue $86,029 $83,710 Cost of Revenue1 18,595 19,863 Gross Profit 67,434 63,847 Operating Expenses: Sales & Marketing1 36,281 33,140 Research & Development1 17,464 20,841 General & Administrative1 12,141 16,435 Acquisition Related Costs - 334 Restructuring Charges 83 9,880 Amortization of Intangible Assets 1,900 2,434 Total Operating Expenses 67,869 83,064 Loss from Operations 435 19,217 Gain on Convertible Note Extinguishment - 12,110 Interest Income 1,184 2,433 Interest Expense 2,478 1,908 Other Expenses 302 142 Loss Before Provision for Income Taxes 2,031 6,724 Benefit Provision) for Income Taxes 212 269 Net Loss $2,243 $6,993 1 Amounts include stock-based compensation expense and associated payroll tax costs. Figures in thousands

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© Commerce. All rights reserved. Conﬁdential. 31 GAAP balance sheet. FINANCIALS Figures in thousands As of September 30 Unaudited) As of December 31 Unaudited) 2025 2024 Assets Current assets Cash and cash equivalents $49,912 $88,877 Restricted cash 1,164 1,479 Marketable securities 92,114 89,283 Accounts receivable, net 48,234 48,117 Prepaid expenses and other assets, net 17,720 14,641 Deferred commissions 6,808 8,822 Total current assets 215,952 251,219 Property and equipment, net 11,196 9,128 Operating lease, right-of-use-assets 7,470 1,993 Prepaid expenses and other assets, net of current portion 6,181 3,146 Deferred commissions, net of current portion 3,733 5,559 Intangible assets, net 13,006 17,317 Goodwill 51,927 51,927 Total assets $309,465 $340,289 Liabilities and stockholdersʼ equity Current liabilities Accounts payable $9,530 $7,018 Accrued liabilities 4,485 3,194 Deferred revenue 59,179 46,590 Operating lease liabilities 1,540 2,438 Other current liabilities 26,258 28,766 Total current liabilities 100,992 88,006 Convertible Notes 157,298 216,466 Operating lease liabilities, net of current portion 7,047 1,680 Other long-term liabilities, net of current portion 1,293 768 Total liabilities 266,630 306,920 Stockholdersʼ equity Common stock 7 7 Additional paid-in capital 675,285 654,905 Accumulated other comprehensive loss 209 145 Accumulated deficit 632,666 621,688 Total stockholdersʼ equity 42,835 33,369 Total liabilities and stockholdersʼ equity $309,465 $340,289

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© Commerce. All rights reserved. Conﬁdential. 32 GAAP cash ﬂow statement. FINANCIALS Figures in thousands Three Months Ended September 30 Unaudited) 2025 2024 Cash flows from operating activities Net loss $2,243 $6,993 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization expense 2,725 3,484 Amortization of discount on convertible note 167 344 Amortization of premium on convertible note 414 240 Stock-based compensation expense 6,327 10,159 Provision for expected credit losses 229 1,289 Real estate and internal-use software charges - 3,031 Gain on lease modification - 988 Gain on convertible note extinguishment - 12,110 Other - - Changes in operating assets and liabilities: Accounts receivable 3,740 445 Prepaid expenses 3,359 2,041 Deferred commissions 1,158 389 Accounts payable 1,012 1,022 Accrued and other liabilities 1,772 235 Deferred revenue 3,441 3,935 Net cash provided by (used in) operating activities 10,553 5,573 Cash flows from investing activities: Cash paid for website domain name - - Cash paid for acquisition - - Purchase of property, equipment, leasehold improvements and capitalized internal-use software 2,967 1,064 Maturity of marketable securities 40,500 59,670 Purchase of marketable securities 44,329 49,355 Net cash provided by (used in) investing activities 6,796 9,251 Cash flows from financing activities: Proceeds from exercise of stock options 440 238 Taxes paid related to net share settlement of stock options 550 1,086 Payment of convertible note issuance costs - 2,520 Repayment of convertible notes and financing obligation - 108,709 Net cash provided by (used in) financing activities 110 112,077 Net change in cash and cash equivalents and restricted cash 3,647 97,253 Cash and cash equivalents and restricted cash, beginning of period 47,429 134,208 Cash and cash equivalents and restricted cash, end of period $51,076 $36,955

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© Commerce. All rights reserved. Conﬁdential. 33 Non-GAAP reconciliation. FINANCIALS 1 Amounts include stock-based compensation expense and associated payroll tax costs. Figures in thousands Three Months Ended September 30 Unaudited) Gross Profit 2025 2024 GAAP Gross Profit $67,434 $63,847 Stock-based Compensation1 577 1,114 Non-GAAP Gross Profit $68,011 $64,961 Non-GAAP Gross Margin 79% 78% Sales & Marketing GAAP S&M Expense $36,281 $33,140 Stock-based Compensation1 1,718 3,327 Non-GAAP S&M Expense $34,563 $29,813 Non-GAAP S&M as % of Revenue 40.2% 35.6% Research & Development GAAP R&D Expense $17,464 $20,841 Stock-based Compensation1 2,046 3,766 Non-GAAP R&D Expense $15,418 $17,075 Non-GAAP R&D as a % of Revenue 17.9% 20.4% General & Administrative GAAP G&A Expense $12,141 $16,435 Stock-based Compensation1 2,104 2,685 Non-GAAP G&A Expense $10,037 $13,750 Non-GAAP G&A as % of Revenue 11.7% 16.4% Operating Income Loss GAAP Loss from Operations $435 $19,217 Stock-based Compensation1 6,445 10,892 Acquisition Related Costs 0 334 Restructuring Charges 83 9,880 Amortization of Intangible Assets 1,900 2,434 Non-GAAP Operating Income $7,993 $4,323 Non-GAAP Operating Margin % 9.3% 5.2%

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© Commerce. All rights reserved. Conﬁdential. 34 Adjusted EBITDA reconciliation. FINANCIALS 1 Amounts include stock-based compensation expense and associated payroll tax costs. Figures in thousands Three Months Ended September 30 Unaudited) 2025 2024 Net Loss $2,243 $6,993 Stock-based Compensation1 6,445 10,892 Acquisition Related Costs 0 334 Depreciation 825 1,050 Amortization of Intangible Assets 1,900 2,434 Gain on Convertible Note Extinguishment 0 12,110 Interest Income 1,184 2,433 Interest Expense 2,478 1,908 Provision for Income Taxes 212 269 Restructuring Charges 83 9,880 Other Expenses 302 142 Adjusted EBITDA $8,818 $5,373

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© Commerce. All rights reserved. Conﬁdential. 35 Non-GAAP net income (loss) reconciliation. FINANCIALS 1 Amounts include stock-based compensation expense and associated payroll tax costs. Figures in thousands Three Months Ended September 30 Unaudited) 2025 2024 Net Loss $2,243 $6,993 Stock-based Compensation1 6,445 10,892 Acquisition Related Costs 0 334 Amortization of Intangible Assets 1,900 2,434 Restructuring Charges 83 9,880 Gain on Convertible Note Extinguishment 0 12,110 Non-GAAP Net Income $6,185 $4,437

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© Commerce. All rights reserved. Conﬁdential. 36 AI GLOSSARY Term Definition Application Agent An autonomous or semi-autonomous software entity that can perceive its environment, make decisions, and act to achieve specific goals. Agents interact with users or systems on behalf of shoppers, merchants, or businesses (e.g., assisting in purchasing, customer support, or product curation). Agentic Checkout A checkout experience initiated, managed, and completed by an AI agent without requiring the shopper to manually fill forms or complete traditional flows. Agent interacts with payment systems (e.g., PayPal), confirms orders, selects shipping preferences — all seamlessly from an AI interface. Agentic Discovery The proactive, contextual surfacing of products and content by AI agents based on user behavior, context, or anticipated needs. Agents push products to users before they search — via messages, AI search engines, or assistant platforms — based on predicted intent or timing. Agentic Search AI-driven search where agents proactively retrieve, summarize, and recommend products or information based on inferred or explicit user intent. Shoppers don’t just type keywords — they ask questions or make requests, and agents (e.g., Copilot, Perplexity) deliver personalized, intent-based product results. Buyer Agent A specialized agent used in B2B commerce to automate and optimize procurement tasks. Scans vendor catalogs, validates compliance, negotiates contracts, places replenishment orders, and reduces procurement overhead. Data Syndication The process of distributing product data across marketplaces, ad networks, and now LLM/AI agents. Essential for agentic search and discovery to surface accurate, brand-compliant product info on AI-powered platforms. LLMs (Large Language Models) AI models trained on vast corpora of text to understand, generate, and reason in natural language. Power the intelligence behind shopper/merchant agents, conversational interfaces, search summarization, product Q&A, and more. Merchant Agent An AI that acts on behalf of the retailer or brand. Optimizes merchandising, surfaces relevant products in agentic environments, adjusts pricing or promotion dynamically, and handles queries at scale. Product Data Enrichment Enhancing raw product data with structured attributes, optimized titles/descriptions, or AI-generated content. Improves visibility in AI search results, agentic discovery, and marketplace compliance. Shopper Agent A personal AI assistant acting on behalf of a consumer. Finds products, compares options, checks reviews, completes purchases, and negotiates prices or delivery — all personalized to the shopper’s intent.

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