Chief Financial Officer and Chief Operating Officer - Daniel Lentz Operator: Welcome to Commerce's Second Quarter 2026 Earnings Call. The call is being recorded. [Operator Instructions] Tyler Duncan: Thank you. Good morning, and welcome to Commerce's second quarter of 2026 earnings call.
We will be discussing the results announced in our press release issued before today's market open. With me are Commerce's Chief Executive Officer, Travis Hess, and Chief Financial Officer and Chief Operating Officer, Daniel Lentz. Today's call will contain certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning financial and business trends, as well as our expected future business and financial performance, financial condition, and our guidance for both the third quarter of 2026 and the full year 2026. These statements can be identified by words such as expect, anticipate, intend, plan, believe, seek, committed, will, or similar words. These statements reflect our views as of today only and should not be relied upon as representing our views at any subsequent date, and we do not undertake any duty to update these statements.
Forward-looking statements, by their nature, address matters that are subject to risks and uncertainties that could cause actual results to differ materially from expectations. For a discussion of the material risks and other important factors that could affect our actual results, please refer to the risks and other disclosures contained in our filings with the Securities and Exchange Commission. During the call, we will also discuss certain non-GAAP financial measures which are not prepared in accordance with generally accepted accounting principles.
A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure, as well as how we define these metrics and other metrics, is included in our earnings press release, which has been furnished to the SEC and is also available on our website at investors.commerce.com. With that, let me turn the call over to Travis. Christopher Hess: Q2 2026 was another quarter of steady execution for Commerce.
We delivered revenue of $84.5 million, within our guidance range, and non-GAAP operating income of $8.1 million, above the high end of our guidance range of $4 million to $5 million. GMV grew 14% year-over-year to $8.8 billion. We generated positive GAAP net income for the second consecutive quarter, and net revenue retention improved sequentially for the third consecutive quarter to 95.8%.
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