Commerce.Com Inc To Host Sell-side Analyst Q&A Session Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : Hey, Travis. Thanks for the introspection, the reintroduction to Commerce earlier today on the stage. Maybe starting with that particular topic, can you talk about how much executive bandwidth might have gone into that rebranding, having the parent company? As we look ahead, how are you thinking the time allocation might free up priorities going forward from here?

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : And then just a quick follow up. You talked about the big changes with agentic. Obviously, that's still very early days, but I couldn't help but notice, and I've gotten a lot of feedback from investors as well, that under the new Commerce branding, it does seem like maybe [Feedonomics] maybe REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : Travis, one final follow up before you run off. You talk about the urgency for all things data right now. I know we harp on you guys for maybe decelerating growth enterprise broadly, but have you seen an uptick on the Feedo business? Is there any color you might be able to share with us in terms of how that business has progressed since you guys acquired it? I think the last update from Daniel was maybe $35 million in ARR three years ago or something like that. So any sense of how that business might be shaping up would be great.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : Thanks for doing this, Al and Lance. Ken Wong from Oppenheimer. This question isn't intended to kind of pit you two against each other, but there is sort of an external industry perception and maybe some investor perception that perhaps commerce would be better operated as more of a niche product, maybe just B2B, maybe just B2C, whatever it might be typically lends more B2B. But I guess, what is the value of having both sides of the coin here? Yes, we'd just kind of love for you guys to elaborate on where there might be synergies between your two organizations.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : And then one for you, Al. So obviously, kind of before you got here, there was sort of a de-emphasis on the low end of the B2C market. Just wondering, as you look ahead, how are you potentially looking to kind of revive the B2C brand as obviously moving into some self-service stuff, which seems to suggest maybe going back into the low end of the market. Just love your view on kind of what the path is going forward.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : Hey, thanks for taking the questions. Ken Wong from Oppenheimer. You guys being in front and center with all the kind of the AI stuff, I guess would just love to hear from you guys and know what you guys are hearing from customers in terms of what is particularly urgent for them? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : And then a quick follow-up, and there's been a lot of focus on Feedonomics today that obviously serves as a kind of single source of truth on the data side and there does seem to be an urgency there. Now, do you see a path for customers that perhaps adopt Feedonomics first to then maybe get pulled into BigCommerce? Is there a value there, especially when kind of the corporate strategy is we're open and Feedonomics is not technically supposed to play nicer with BigCommerce? Yeah, I just love your feedback there.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : Building on that question, Vipul, especially since you have kind of history at PayPal, just wondering kind of how we should think about when commerce platforms going to take that payment opportunity in-house versus third party, on a, I guess from a kind of platform value perspective and help us understand kind of how that's more or less favorable to big commerce and then the potential new opportunities that could present once that is an in-house product.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : Happy to get Daniel's take, but perhaps maybe from your perspective, maybe you flip it instead of answering on kind of behalf of BigCommerce since you're still digesting that, but maybe from a PayPal perspective, like how was that relationship when it was either kind of a PayPal branded product versus like, hey now like that payment transactional dynamic is going through something like a BigCommerce, right? It's like PayPal, like a BigCommerce branded PayPal, right? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : Ken Wong from Oppenheimer, somewhat building on this growth trajectory narrative. You guys have run into a few speed bumps over the years as I think about things that have been headwinds and tailwinds. We'd love to get your sense on which ones are like you like you characterize stable, which ones may be starting to improve, some of the things that I'd highlight would be customer growth, churn downsizing, expansion, ARPU? Would just love your take on kind of where we should be looking for kind of directionally how those things should be trending.

Question: Ken Wong - Oppenheimer & Co Inc - Analyst : Great. And then just one on the cost side. So now that you guys have gone through this full rebranding, like we obviously have guide for the back half and kind of what that implies for maybe spend, is that the right run rate or as you guys emerge from this new branding like there's going to be incremental costs associated with this, shift to product led growth or incremental marketing just to support the new commerce brand?