SPS Commerce Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	729.76	637.77	536.91	450.88	385.28	312.63
Revenue Growth (YoY)	19.28%	18.78%	19.08%	17.03%	23.24%	12.00%
Cost of Revenue	230.26	210.71	182.07	153.07	131.68	99.84
Gross Profit	499.5	427.05	354.84	297.81	253.6	212.79
Selling, General & Admin	286.56	251.85	207.82	169.11	149.35	126.07
Research & Development	69.13	62.81	53.65	45.75	39.04	31.02
Amortization of Goodwill & Intangibles	35.45	23.51	16.12	11.77	10.13	5.54
Operating Expenses	391.14	338.17	277.59	226.63	198.51	162.64
Operating Income	108.36	88.88	77.25	71.18	55.09	50.16
Interest & Investment Income	5.82	10.58	7.66	1.67	0.28	1.21
Currency Exchange Gain (Loss)	-	-	-	-	-1.46	1.54
Other Non Operating Income (Expenses)	-0.11	-0.1	-1.07	-0.5	-0.37	-0.35
EBT Excluding Unusual Items	114.07	99.36	83.84	72.35	53.54	52.56
Gain (Loss) on Sale of Investments	-1.84	0.12	1.73	-1.03	-	0.21
Other Unusual Items	-	-	-	-	-	-0.09
Pretax Income	112.23	99.48	85.56	71.32	53.54	52.68
Income Tax Expense	27.17	22.42	19.74	16.19	8.94	7.09
Net Income	85.06	77.05	65.82	55.13	44.6	45.59
Net Income to Common	85.06	77.05	65.82	55.13	44.6	45.59
Net Income Growth	8.34%	17.06%	19.39%	23.63%	-2.17%	35.22%
Shares Outstanding (Basic)	38	37	37	36	36	35
Shares Outstanding (Diluted)	38	38	37	37	37	36
Shares Change (YoY)	0.84%	1.02%	1.41%	-0.02%	1.87%	0.79%
EPS (Basic)	2.25	2.07	1.80	1.53	1.24	1.29
EPS (Diluted)	2.24	2.04	1.76	1.49	1.21	1.26
EPS Growth	7.73%	15.91%	18.12%	23.14%	-3.97%	34.04%
Free Cash Flow	148.39	137.35	112.54	80.17	93.31	72.1
Free Cash Flow Per Share	3.90	3.63	3.00	2.17	2.52	1.99
Gross Margin	68.45%	66.96%	66.09%	66.05%	65.82%	68.07%
Operating Margin	14.85%	13.94%	14.39%	15.79%	14.30%	16.04%
Profit Margin	11.65%	12.08%	12.26%	12.23%	11.58%	14.58%
Free Cash Flow Margin	20.34%	21.54%	20.96%	17.78%	24.22%	23.06%
EBITDA	163.83	131.11	112	99.37	80	68.82
EBITDA Margin	22.45%	20.56%	20.86%	22.04%	20.76%	22.01%
D&A For EBITDA	55.47	42.23	34.75	28.19	24.91	18.67
EBIT	108.36	88.88	77.25	71.18	55.09	50.16
EBIT Margin	14.85%	13.94%	14.39%	15.79%	14.30%	16.04%
Effective Tax Rate	24.21%	22.54%	23.07%	22.70%	16.71%	13.47%

Updated Oct 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q