SPSC
SPS Commerce Inc
NASDAQ: SPSC · TECHNOLOGY · SOFTWARE - APPLICATION
$56.12
+1.70% today
Updated 2026-04-30
Market cap
$2.07B
P/E ratio
22.48
P/S ratio
2.75x
EPS (TTM)
$2.46
Dividend yield
—
52W range
$51 – $153
Volume
0.7M
SPS Commerce Inc (SPSC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.20M | $30.70M | $37.75M | $44.60M | $57.97M | $77.11M | $104.39M | $127.95M | $158.52M | $193.29M | $220.57M | $248.24M | $279.12M | $312.63M | $385.28M | $450.88M | $536.91M | $637.76M | $751.50M |
| Revenue growth (YoY) | — | +21.8% | +23.0% | +18.2% | +30.0% | +33.0% | +35.4% | +22.6% | +23.9% | +21.9% | +14.1% | +12.5% | +12.4% | +12.0% | +23.2% | +17.0% | +19.1% | +18.8% | +17.8% |
| Cost of revenue | $6.38M | $9.21M | $11.71M | $12.63M | $15.37M | $22.04M | $31.78M | $39.99M | $50.04M | $64.35M | $73.63M | $81.75M | $92.24M | $99.84M | $131.68M | $153.06M | $182.07M | $210.71M | $268.80M |
| Gross profit | $18.82M | $21.49M | $26.03M | $31.97M | $42.60M | $55.07M | $72.61M | $87.96M | $108.47M | $128.95M | $146.94M | $166.49M | $186.88M | $212.79M | $253.60M | $297.81M | $354.84M | $427.05M | $482.71M |
| Gross margin | 74.7% | 70.0% | 69.0% | 71.7% | 73.5% | 71.4% | 69.6% | 68.7% | 68.4% | 66.7% | 66.6% | 67.1% | 67.0% | 68.1% | 65.8% | 66.1% | 66.1% | 67.0% | 64.2% |
| R&D | $3.55M | $3.64M | $4.30M | $4.35M | $5.84M | $8.17M | $10.87M | $13.49M | $17.95M | $21.98M | $23.18M | $22.09M | $28.30M | $31.02M | $39.04M | $45.75M | $53.65M | $62.81M | $68.68M |
| SG&A | $5.46M | $6.72M | $6.34M | $7.99M | $11.15M | $13.52M | $17.19M | $20.23M | $24.82M | $28.83M | $37.46M | $41.86M | $44.72M | $50.12M | $61.30M | $67.34M | $84.89M | $102.93M | $126.59M |
| Operating income | $-1.82M | $-1.41M | $1.88M | $3.04M | $1.14M | $1.57M | $1.77M | $4.38M | $7.02M | $7.52M | $8.43M | $26.73M | $38.41M | $50.16M | $55.09M | $71.18M | $77.25M | $88.88M | $118.30M |
| Operating margin | -7.2% | -4.6% | 5.0% | 6.8% | 2.0% | 2.0% | 1.7% | 3.4% | 4.4% | 3.9% | 3.8% | 10.8% | 13.8% | 16.0% | 14.3% | 15.8% | 14.4% | 13.9% | 15.7% |
| EBITDA | $28000.00 | $581000.00 | $2.97M | $4.58M | $3.73M | $6.29M | $9.82M | $12.95M | $16.59M | $18.85M | $21.76M | $39.42M | $54.84M | $68.82M | $78.45M | $99.37M | $110.60M | $131.11M | $182.09M |
| EBITDA margin | 0.1% | 1.9% | 7.9% | 10.3% | 6.4% | 8.2% | 9.4% | 10.1% | 10.5% | 9.8% | 9.9% | 15.9% | 19.6% | 22.0% | 20.4% | 22.0% | 20.6% | 20.6% | 24.2% |
| EBIT | $-1.70M | $-1.38M | $1.52M | $3.05M | $1.08M | $1.37M | $1.77M | $4.38M | $7.02M | $7.52M | $9.98M | $26.73M | $38.41M | $50.16M | $53.54M | $71.18M | $77.25M | $88.88M | $123.83M |
| Interest expense | $439000.00 | $419000.00 | $270000.00 | $74000.00 | $0.00 | $27000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.11M | $2.61M | $1.54M | $142000.00 | — | — | — |
| Income tax | $16000.00 | $94000.00 | $91000.00 | $92000.00 | $-12.62M | $121000.00 | $686000.00 | $1.41M | $2.44M | $3.14M | $11.58M | $4.47M | $8.36M | $7.09M | $8.94M | $16.19M | $19.74M | $22.42M | $30.50M |
| Effective tax rate | -0.7% | -5.2% | 7.3% | 3.1% | -1164.1% | 9.0% | 39.5% | 34.2% | 34.4% | 35.5% | 126.7% | 15.8% | 19.9% | 13.5% | 16.7% | 22.7% | 23.1% | 22.5% | 24.6% |
| Net income | $-2.16M | $-1.90M | $1.16M | $2.88M | $13.70M | $1.22M | $1.05M | $2.70M | $4.64M | $5.71M | $-2.44M | $23.87M | $33.71M | $45.59M | $44.60M | $55.13M | $65.82M | $77.05M | $93.34M |
| Net income growth (YoY) | — | +12.1% | +161.3% | +148.2% | +375.1% | -91.1% | -14.0% | +157.3% | +71.6% | +23.1% | -142.7% | +1078.4% | +41.2% | +35.2% | -2.2% | +23.6% | +19.4% | +17.1% | +21.1% |
| Profit margin | -8.6% | -6.2% | 3.1% | 6.5% | 23.6% | 1.6% | 1.0% | 2.1% | 2.9% | 3.0% | -1.1% | 9.6% | 12.1% | 14.6% | 11.6% | 12.2% | 12.3% | 12.1% | 12.4% |