Commerce Q3 revenue falls 2.1% to $84.2 million as CFO Daniel Lentz steps down
Commerce reported third-quarter 2026 revenue of $84.2 million, down 2.1% from a year earlier, and a GAAP net loss of $3.2 million, wider than the $2.2 million loss a year earlier. The company also said CFO and COO Daniel Lentz will leave effective November 13, 2026, and Tyler Duncan will serve as interim CFO while the board searches for a permanent successor.
Key points
- Q3 revenue was $84.2 million, down 2.1%; non-GAAP operating income was $8.0 million, flat year over year.
- GAAP net loss was $3.2 million, compared with $2.2 million a year earlier; non-GAAP net income rose to $6.6 million from $6.2 million.
- Full-year 2026 revenue outlook is $339.0 million to $342.0 million; fourth-quarter revenue outlook is $83.4 million to $86.4 million.
- Lentz departs effective November 13, 2026; Duncan becomes interim CFO, and Chuck Cassidy received a $150,000 retention bonus and 25,000 RSUs.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.