SPS Commerce, Inc. (SPSC)

NASDAQ: SPSC · Real-Time Price · USD

83.03

+0.35 (0.42%)

At close: Sep 14, 2026, 4:00 PM EDT

81.87

-1.16 (-1.40%)

After-hours: Sep 14, 2026, 5:05 PM EDT

SPS Commerce Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	772.49	751.51	637.77	536.91	450.88	385.28
Revenue Growth	9.80%	17.83%	18.78%	19.08%	17.03%	23.24%
Gross Profit	539.36	519.88	427.05	354.84	297.81	253.6
Operating Income	122.3	118.3	88.88	77.25	71.18	55.09
Net Income	78	93.34	77.05	65.82	55.13	44.6
Earnings Per Share	2.09	2.46	2.04	1.76	1.49	1.21
EPS Growth	-4.23%	20.59%	15.91%	18.12%	23.14%	-3.97%

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Fulfillment	660.31	637.65	523.7	436.7	364.15	306.85
Analytics	56.64	56.02	55.72	51.7	46.89	42.67
Other Recurring	24.51	24.31	20.67	13.61	8.01	5.48
One-Time	31.03	33.53	37.68	34.9	31.83	30.27
Revenue (Total)	772.49	751.51	637.77	536.91	450.88	385.28

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	173.17	151.36	241.02	275.44	214.31	257.31
Total Debt	6.31	7.19	12.47	14.03	17.29	20.53
Net Cash (Debt)	166.86	144.16	228.55	261.41	197.02	236.78
Net Cash Growth	72.37%	-36.92%	-12.57%	32.68%	-16.79%	43.49%
Net Cash Per Share	4.46	3.79	6.04	6.98	5.33	6.41

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	228.14	178.79	157.4	132.3	100.05	112.89
Capital Expenditures	-29.45	-26.52	-20.05	-19.76	-19.88	-19.59
Free Cash Flow	198.7	152.27	137.35	112.54	80.17	93.31
Free Cash Flow Growth	40.00%	10.86%	22.05%	40.37%	-14.07%	29.42%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	69.82%	69.18%	66.96%	66.09%	66.05%	65.82%
Operating Margin	15.83%	15.74%	13.94%	14.39%	15.79%	14.30%
Pretax Margin	13.57%	16.48%	15.60%	15.94%	15.82%	13.90%
Profit Margin	10.10%	12.42%	12.08%	12.26%	12.23%	11.58%
FCF Margin	25.72%	20.26%	21.54%	20.96%	17.78%	24.22%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 14, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	39.78	36.01	89.71	108.07	83.96	114.80
Forward PE	16.30	20.47	49.10	64.15	54.83	74.79
P/FCF Ratio	15.05	22.07	50.32	63.21	57.74	54.87
PS Ratio	3.87	4.47	10.84	13.25	10.27	13.29