Commerce.com Inc at Barclays Global Technology Conference Transcript

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

Question: Raimo Lenschow - Barclays Services Corp - Analyst : <_ALACRA_META_ABSTRACT>Let's start kind of big picture a little bit like -- we had cyber week. Like how did that play out for you guys? Like just more in-demand question.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : And then the -- what do you -- are there any kind of new trends or things you see in terms of industry, not so much about you now, but like what your customers are saying, seeing.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. I can imagine, yeah. Is that, by the way, like it's slightly off topic, but is that something for you as well? Like, if you look search optimization was kind of and I don't know how much of your kind of prospect customers you get from that sort of stuff, but is that something that you guys have to think about (multiple speakers)-- ?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, no, it's a fascinating world, and let's talk about commerce a little bit. The one big thing for you guys is besides a new name (laughter) is kind of the big transformation plan. Just to get everyone on the same page, like, can you kind of frame a little bit like what you're trying to do?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : So going back to your point in terms of sales led growth, so if I look at the market or other pieces like basically you have like one new module after another coming and then you go back and you cross sell, you engage the customer, that's kind of the motion that was -- the notion -- the motion that was missing. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 5:50PM, CMRC.OQ - Commerce.com Inc at Barclays Global Technology Conference

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. Okay, perfect. And then, how do you think about when you start on this journey of looking how you can change your organization. What was the envelope you used in terms of the growth that I kind of -- I'm kind of working towards? Like what was it like the bigger thinking like, okay, and maybe start like the growth rates now versus like where it should be or where you want to see it eventually.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, so then product is one thing, and I'm going to ask about payment in a second. The other thing is like is the organization in terms of like tracking renewals, see like is the customer happy, et cetera. Are you doing any changes there on that side as well?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, okay. And if you think about it like, so now let's go -- I don't know if you can or want to talk about payment, but they, you and I've been talking for years now, and that was all -- that was always like one of those, why not, right. (laughter)

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Which makes sense, yeah.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : And if you think about it, like the -- there are certain aspects on broadening out where you think like do you do need to do fulfillment like debatable, like, and probably for you not like, but if you think about like Feedonomics is one and you got that for the acquisitions payment, an obvious one, how do you think about like that kind of going broader versus deeper.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : I mean not necessarily because you could develop it as well (multiple speakers)--

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. And then on that development side, like the world is changing with AI. We have AI commerce now, et cetera. Like how do you think about that what you need to deliver through the platform versus actually it's more on the kind of marketing kind of agency side because they need to kind of do the path towards buying differently like, talk me through that dynamic (multiple speakers) the market is changing there a lot.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Okay, perfect (multiple speakers)-- LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 5:50PM, CMRC.OQ - Commerce.com Inc at Barclays Global Technology Conference

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, okay. And the other question on that subject is like, do you think that your market in terms of competition will fundamentally change, because yeah you have a couple of big posts, but like this is like a new world and that changeover usually causes disruption. So how do you think about that kind of (multiple speakers)--

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, okay. The last few minutes I wanted to talk about like margins, like -- and I think a lot of that is your achievement like, you guys turned it from kind of cash burning negative margins kind of around very quickly, and it was -- it's tough to do, and there was, I'm sure there were like tradeoffs. Like how do you think about that journey and where do you go from here?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : I mean, like, that's how I enjoy our conversation like listening to you like it seems like you're very metric driven. It's not like you're kind of cutting for the sake of it. You kind of know -- you talk magic numbers, which is kind of music to my ear (multiple speakers)--

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. That's a good closing statement as well.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Hey Daniel, good to see you again.