CMRC Q4 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 July 31, 2025, and November 6, 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* ($3M) $3M Non-GAAP Operating Income/(Loss)* ($9M) $7M 4Q22 4Q25 79%BigCommerce at 12/31/2025. ARR $359M 4Q25 Enterprise ARR 80% *See the Appendix to this presentation for a reconciliation of non-GAAP ﬁnancial measures to their nearest GAAP equivalent. 4Q22 4Q25 *Note: Enterprise account metrics will no longer be disclosed starting Q1 2026

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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. 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 – YoYTotal ARR – CAGR 23 3Q20 (IPO) $167M 4Q25 $359M 4Q24 1Q25 2Q25 $351M 3Q25 +4% 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, investing in growth. FINANCIALS $350M $355M $356M 4Q25 $359M Y/Y +3% +3% +3%+3%

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© Commerce. All rights reserved. Conﬁdential. Enterprise ARR – CAGR Enterprise ARR – YoY 24 3Q20 (IPO) $90M 4Q25 $287M 4Q24 1Q25 $262M 2Q25 $264M 3Q25 $269M Enterprise % of Total ARR 3Q20 (IPO) 54% 4Q25 46% 80% 20% Enterprise ARR Non Enterprise ARR Note: Enterprise account metrics will no longer be disclosed starting in Q1 2026 Note: Enterprise accounts represent any account with at least one BigCommerce enterprise plan FINANCIALS Enterprise: High value customers, long term growth path. $269M 4Q25 $287M+7% +6% +6% +5% +10% 25% CAGR Y/Y

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© Commerce. All rights reserved. Conﬁdential. $82 Total Revenue Annual CAGR Total Revenue Quarter YoY 25 $62M 4Q24 1Q25 2Q25 3Q25 $62M $62M $64M Total Revenue Annual YoY 2022 Subscription Services Partner and Services 2023 2024 $206M $229M $248M Total Revenue Quarter CAGR 20252020 (IPO) $104M $256M $49M $152M $87M $342M 4Q253Q20 (IPO) $27M $65M$13M $24M $90M $73M $80M $85M$279M $333M$309M $25M $20M $21M $87M $84M $82M FINANCIALS Our focus: accelerating revenue growth efﬁciently. $65M $21M $86M $256M $87M $342M 2025 4Q25 $65M $24M $90M +3% +3% +3% +3% +3% +27% +11% +8% +3% 17% CAGR 18% CAGR $40M Y/Y Y/Y

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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% 2025 38% 30% 18% 19% 15% Non-GAAP Operating Margin (18%) 8% 3Q20 (IPO) 49% 4Q25 38% 29% 19% 19% 14% Non-GAAP Operating Margin (18%) 8% S&M R&D G&A S&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 4Q24 1Q25 2Q25 3Q25 5.9k 5.8k 5.8k 5.8k Number of Enterprise Accounts – CAGR 4Q253Q20 (IPO) $28.4k $43.2k 4Q253Q20 (IPO) 3.2k 6.6k Enterprise Account ARPA – YoY 4Q24 1Q25 2Q25 $44.5k $45.3k $46.4k Note: Enterprise account metrics will no longer be disclosed starting in Q1 2026 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 Average revenue per account over time. 3Q25 $46.8k 4Q25 6.6k 4Q25 $43.2k +9% +9% +9% +7% -3% -2% -2% -3% -2% +13% 8% CAGR 15% CAGR Y/Y Y/Y

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© Commerce. All rights reserved. Conﬁdential. 29 FINANCIALS GMV: broad base, consistent growth. Note: Gross Merchandise Volume (“GMV”) represents the total dollar value of completed checkout transactions facilitated through the Commerce platform during the reporting period, including shipping and taxes. GMV is reported on a gross basis before deducting refunds or discounts. GMV is not a measure of revenue. GMV - Quarter 1Q25 2Q25 $7.2B $7.7B 3Q25 $7.9B 4Q25 $8.9B GMV - Annual 2023 2024 2025 $25.4B $28.2B $31.7B +11% +12% Y/Y

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© Commerce. All rights reserved. Conﬁdential. Total NRR % - Quarter 30 FINANCIALS Total NRR: stable retention, investing to drive expansion. Note: Net Revenue Retention (“NRR”) measures our ability to retain and expand revenue from existing customers over time. NRR is calculated by dividing total billings and allocated partner revenue from a cohort of customers during the trailing twelve-month period by the total billings and allocated partner revenue from the same customer cohort in the corresponding prior-year period. NRR reﬂects the impact of customer expansion and contraction and excludes revenue from customers added after the prior twelve-month period.

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© Commerce. All rights reserved. Conﬁdential. 31 FINANCIALS Non-GAAP disclosure updates Metric Disclosure Update Gross Merchandise Volume (GMV) New disclosure beginning Q4 2025 earnings, and quarterly thereafter. Net Revenue Retention (NRR) New disclosure beginning Q4 2025 earnings, and quarterly thereafter. Annual Revenue Run-Rate (ARR) Disclosure will continue. Number of Enterprise Accounts Disclosed through Q4 2025 earnings; discontinued beginning Q1 2026. ARR Attributable to Enterprise Accounts (Enterprise ARR) Disclosed through Q4 2025 earnings; discontinued beginning Q1 2026. Average Revenue per Enterprise Account (Enterprise ARPA) Disclosed through Q4 2025 earnings; discontinued beginning Q1 2026. Enterprise Net Revenue Retention (Enterprise NRR) Disclosed through Q4 2025 earnings; discontinued beginning Q1 2026.

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© Commerce. All rights reserved. Conﬁdential. 32 FINANCIALS Q1 and FY 2026 guidance Q1 2026 YoY Midpoint FY 2026 YoY Midpoint Total revenue $82.5M - $83.5M 1% $347.5M - $369.5M 5% Non-GAAP operating income $9.3M - $10.3M $34.0M - $53.0M Non-GAAP operating margin 11% - 12% 10% - 14% Note: We do not provide guidance for loss from operations, the most directly comparable GAAP measure to Non-GAAP operating income, and therefore cannot provide a reconciliation between our forecasted Non-GAAP operating income and the comparable GAAP measures without unreasonable effort due to the unavailability of reliable estimates for certain items. These items are not within our control and may vary greatly between periods and could signiﬁcantly impact future ﬁnancial results.

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© Commerce. All rights reserved. Conﬁdential. 34 GAAP income statement. FINANCIALS Three Months Ended December 31 Unaudited) 2025 2024 Revenue $89,517 $87,028 Cost of Revenue1 19,434 19,476 Gross Profit 70,083 67,552 Operating Expenses: Sales & Marketing1 35,250 29,605 Research & Development1 18,041 19,763 General & Administrative1 14,223 14,994 Acquisition Related Costs - 333 Restructuring Charges 7,434 1,225 Amortization of Intangible Assets 1,720 2,383 Total Operating Expenses 76,668 68,303 Loss from Operations 6,585 751 Interest Income 1,163 1,761 Interest Expense 2,484 2,703 Other Expenses 249 373 Loss Before Provision for Income Taxes 8,155 2,066 Provision for Income Taxes 209 324 Net Loss $8,364 $2,390 1 Amounts include stock-based compensation expense and associated payroll tax costs. Figures in thousands

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© Commerce. All rights reserved. Conﬁdential. 35 GAAP balance sheet. FINANCIALS Figures in thousands As of December 31 Unaudited) As of December 31 Audited) 2025 2024 Assets Current assets Cash and cash equivalents $44,258 $88,877 Restricted cash 1,905 1,479 Marketable securities 96,838 89,283 Accounts receivable, net 49,967 48,117 Prepaid expenses and other assets, net 15,349 14,641 Deferred commissions 6,045 8,822 Total current assets 214,362 251,219 Property and equipment, net 13,983 9,128 Operating lease, right-of-use-assets 7,090 1,993 Prepaid expenses and other assets, net of current portion 6,677 3,146 Deferred commissions, net of current portion 3,466 5,559 Intangible assets, net 11,286 17,317 Goodwill 51,927 51,927 Total assets $308,791 $340,289 Liabilities and stockholdersʼ equity Current liabilities Accounts payable $9,870 $7,018 Accrued liabilities 4,787 3,194 Deferred revenue 59,576 46,590 Convertible notes 4,037 - Operating lease liabilities 1,576 2,438 Other liabilities 28,340 28,766 Total current liabilities 108,186 88,006 Convertible Notes, net of current portion 153,012 216,466 Operating lease liabilities, net of current portion 6,892 1,680 Other liabilities, net of current portion 1,347 768 Total liabilities 269,437 306,920 Stockholdersʼ equity Common stock 7 7 Additional paid-in capital 680,153 654,905 Accumulated other comprehensive loss 224 145 Accumulated deficit 641,030 621,688 Total stockholdersʼ equity 39,354 33,369 Total liabilities and stockholdersʼ equity $308,791 $340,289

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© Commerce. All rights reserved. Conﬁdential. 36 GAAP cash ﬂow statement. FINANCIALS Figures in thousands Three Months Ended December 31 Unaudited) 2025 2024 Cash flows from operating activities Net loss $8,364 $2,390 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization expense 2,811 3,329 Amortization of discount on convertible note 171 244 Amortization of premium on convertible note 421 396 Stock-based compensation expense 4,807 6,821 Provision for expected credit losses 1,567 206 Real estate and internal-use software charges 218 502 Other - 6 Changes in operating assets and liabilities: Accounts receivable 3,299 5,273 Prepaid expenses and other assets 1,654 5,477 Deferred commissions 1,030 757 Accounts payable 112 672 Accrued and other liabilities 2,206 3,511 Deferred revenue 397 238 Net cash provided by operating activities 2,889 12,360 Cash flows from investing activities: Purchase of property, equipment, leasehold improvements and capitalized internal-use software 3,155 787 Maturity of marketable securities 5,197 53,603 Purchase of marketable securities 9,906 10,167 Net cash provided by (used in) investing activities 7,864 42,649 Cash flows from financing activities: Proceeds from exercise of stock options 117 225 Taxes paid related to net share settlement of stock options 55 38 Holdback payments related to business combination - 1,000 Payment of convertible note issuance costs - 656 Repayment of convertible notes and financing obligation - 139 Net cash provided by (used in) financing activities 62 1,608 Net change in cash and cash equivalents and restricted cash 4,913 53,401 Cash and cash equivalents and restricted cash, beginning of period 51,076 36,955 Cash and cash equivalents and restricted cash, end of period $46,163 90,356

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© Commerce. All rights reserved. Conﬁdential. 37 Non-GAAP reconciliation. FINANCIALS 1 Amounts include stock-based compensation expense and associated payroll tax costs. Figures in thousands Three Months Ended December 31 Unaudited) Gross Profit 2025 2024 GAAP Gross Profit $70,083 $67,552 Stock-based Compensation1 515 735 Non-GAAP Gross Profit $70,598 $68,287 Non-GAAP Gross Margin 79% 78% Sales & Marketing GAAP S&M Expense $35,250 $29,605 Stock-based Compensation1 1,205 920 Non-GAAP S&M Expense $34,045 $28,685 Non-GAAP S&M as % of Revenue 38.0% 33.0% Research & Development GAAP R&D Expense $18,041 $19,763 Stock-based Compensation1 1,510 3,099 Non-GAAP R&D Expense $16,531 $16,664 Non-GAAP R&D as a % of Revenue 18.5% 19.1% General & Administrative GAAP G&A Expense $14,223 $14,994 Stock-based Compensation1 1,620 2,141 Non-GAAP G&A Expense $12,603 $12,853 Non-GAAP G&A as % of Revenue 14.1% 14.8% Operating Income Loss GAAP Loss from Operations $6,585 $751 Stock-based Compensation1 4,850 6,895 Acquisition Related Costs 0 333 Restructuring Charges 7,434 1,225 Amortization of Intangible Assets 1,720 2,383 Non-GAAP Operating Income $7,419 $10,085 Non-GAAP Operating Margin % 8.3% 11.6%

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© Commerce. All rights reserved. Conﬁdential. 38 Adjusted EBITDA reconciliation. FINANCIALS 1 Amounts include stock-based compensation expense and associated payroll tax costs. Figures in thousands Three Months Ended December 31 Unaudited) 2025 2024 Net Loss $8,364 $2,390 Stock-based Compensation1 4,850 6,895 Acquisition Related Costs 0 333 Depreciation 918 946 Amortization of Intangible Assets 1,720 2,383 Interest Income 1,163 1,761 Interest Expense 2,484 2,703 Provision for Income Taxes 209 324 Restructuring Charges 7,434 1,225 Other Expenses 249 373 Adjusted EBITDA $8,337 $11,031

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© Commerce. All rights reserved. Conﬁdential. 39 Non-GAAP net income reconciliation. FINANCIALS 1 Amounts include stock-based compensation expense and associated payroll tax costs. Figures in thousands Three Months Ended December 31 Unaudited) 2025 2024 Net Loss $8,364 $2,390 Stock-based Compensation1 4,850 6,895 Acquisition Related Costs 0 333 Amortization of Intangible Assets 1,720 2,383 Restructuring Charges 7,434 1,225 Non-GAAP Net Income $5,640 $8,446

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© Commerce. All rights reserved. Conﬁdential. 40 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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