SPS Commerce, Inc. (SPSC)

SPS Commerce Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	93.34	77.05	65.82	55.13	44.6
Depreciation & Amortization	58.26	42.23	34.75	28.19	24.91
Stock-Based Compensation	53.73	54.56	45.51	33.4	27.57
Provision & Write-off of Bad Debts	9.92	7.68	5.71	3.36	4.72
Other Operating Activities	17.82	-9.21	-7.66	-3.51	4.2
Change in Accounts Receivable	-20.3	-9.65	-11.95	-6.44	-4.96
Change in Accounts Payable	4.72	0.8	-3.95	0.14	2.26
Change in Unearned Revenue	-0.79	0.73	6.46	5.97	14.48
Change in Other Net Operating Assets	-37.91	-6.79	-2.39	-16.19	-4.9
Operating Cash Flow	178.79	157.4	132.3	100.05	112.89
Operating Cash Flow Growth	13.59%	18.97%	32.23%	-11.37%	27.47%
Capital Expenditures	-26.52	-20.05	-19.76	-19.88	-19.59
Cash Acquisitions	-142.63	-147.92	-70.22	-91.42	-17.07
Investment in Securities	-	57.52	-2.66	-1.49	-10.05
Investing Cash Flow	-169.15	-110.45	-92.64	-112.79	-46.7
Issuance of Common Stock	13.45	14.54	17.97	11.58	14.11
Repurchase of Common Stock	-114.28	-37.57	-	-43.22	-20.43
Other Financing Activities	-	-	-2	-	-2.04
Financing Cash Flow	-100.83	-23.03	15.97	-31.63	-8.36
Foreign Exchange Rate Adjustments	1.53	-1.98	0.56	-0.29	0.03
Net Cash Flow	-89.66	21.94	56.19	-44.66	57.86
Free Cash Flow	152.27	137.35	112.54	80.17	93.31
Free Cash Flow Growth	10.86%	22.05%	40.37%	-14.07%	29.42%
Free Cash Flow Margin	20.26%	21.54%	20.96%	17.78%	24.22%
Free Cash Flow Per Share	4.01	3.63	3.00	2.17	2.52
Cash Income Tax Paid	-	27.1	29.21	16.08	9.98
Levered Free Cash Flow	124.24	133.3	111.13	80.42	77.5
Unlevered Free Cash Flow	124.24	133.3	111.13	80.42	77.5
Change in Working Capital	-54.28	-14.92	-11.82	-16.52	6.89

Updated Feb 12, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q