SPS Commerce Inc (SPSC) Financial Statements
Industry: Prepackaged Software (Services)
In fiscal 2025, SPS Commerce reported revenue of $751.5M, up 17.8% from $637.8M the year before. Net income was $93.3M (a 12.4% net margin), or $2.46 per diluted share. Gross margin was 69.2% and operating margin was 15.7%. Operating activities generated $178.8M of cash, leaving $152.3M of free cash flow. At fiscal year end, SPS Commerce held $1.17B in total assets against $196.0M in total liabilities, including $151.4M of cash and equivalents.
Open the full interactive SPS Commerce financials → Quarterly statements, key ratios, valuation history and price charts.
SPS Commerce Key Stats
| Share Price | $83.76 |
|---|---|
| Market Cap | $3.06B |
| P/E Ratio | 34.0 |
| Revenue YoY Growth | +17.8% |
| 52-Week Range | $49.91 – $113.04 |
| Shares Outstanding | 36.5 million (basic, 2026 Q2) |
SPS Commerce Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $312.6M | $385.3M | $450.9M | $536.9M | $637.8M | $751.5M |
| Gross Profit | $212.8M | $253.6M | $297.8M | $354.8M | $427.1M | $519.9M |
| Operating Income | $50.2M | $55.1M | $71.2M | $77.2M | $88.9M | $118.3M |
| Pre-Tax Income | $52.7M | $53.5M | $71.3M | $85.6M | $99.5M | $123.8M |
| Income Tax | $7.1M | $8.9M | $16.2M | $19.7M | $22.4M | $30.5M |
| Net Income | $45.6M | $44.6M | $55.1M | $65.8M | $77.1M | $93.3M |
| Diluted EPS | $1.26 | $1.21 | $1.49 | $1.76 | $2.04 | $2.46 |
SPS Commerce Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $189.9M | $192.7M | $192.1M | $197.8M |
| Net Income | $25.6M | $25.8M | $19.7M | $6.9M |
| Diluted EPS | $0.67 | $0.68 | $0.53 | $0.19 |
SPS Commerce Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $149.7M | $207.6M | $162.9M | $219.1M | $241.0M | $151.4M |
| Current Assets | $271.4M | $352.4M | $322.8M | $401.4M | $381.9M | $335.3M |
| Total Assets | $526.5M | $615.8M | $672.9M | $823.8M | $1.03B | $1.17B |
| Current Liabilities | $80.1M | $102.9M | $110.6M | $130.7M | $146.7M | $154.4M |
| Total Liabilities | $105.7M | $131.6M | $135.8M | $156.4M | $176.5M | $196.0M |
| Shareholders' Equity | $420.7M | $484.3M | $537.1M | $667.5M | $854.7M | $973.9M |
SPS Commerce Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $88.6M | $112.9M | $100.1M | $132.3M | $157.4M | $178.8M |
| Cash From Investing | -$120.5M | -$46.7M | -$112.8M | -$92.6M | -$110.5M | -$169.2M |
| Cash From Financing | $2.3M | -$8.4M | -$31.6M | $16.0M | -$23.0M | -$100.8M |
| Free Cash Flow | $72.1M | $93.3M | $80.2M | $112.5M | $137.4M | $152.3M |
Figures from SPS Commerce's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full SPS Commerce financials page for every line item.
SPS Commerce Company Profile
| Ticker | SPSC |
|---|---|
| Exchange | Nasdaq |
| Industry | Prepackaged Software (Services) |
| Headquarters | Minneapolis, Minnesota |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001092699 |
Frequently Asked Questions
What was SPS Commerce's revenue in fiscal 2025?
SPS Commerce (SPSC) reported revenue of $751.5M for fiscal 2025.
What is SPS Commerce's annual revenue history?
SPS Commerce's annual revenue by fiscal year: 2020: $312.6M; 2021: $385.3M; 2022: $450.9M; 2023: $536.9M; 2024: $637.8M; 2025: $751.5M.
What was SPS Commerce's net income in fiscal 2025?
SPS Commerce reported net income of $93.3M for fiscal 2025.
What was SPS Commerce's earnings per share (EPS) in fiscal 2025?
SPS Commerce's diluted EPS was $2.46 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did SPS Commerce generate in fiscal 2025?
SPS Commerce generated $152.3M of free cash flow in fiscal 2025.
What was SPS Commerce's revenue last quarter?
In its most recent reported quarter (2026 Q2), SPS Commerce reported revenue of $197.8M.
How many shares of SPS Commerce are outstanding?
SPS Commerce reported a weighted average of 36.5 million basic shares outstanding in 2026 Q2.
What is SPS Commerce's market cap?
Based on its latest closing price, SPS Commerce (SPSC) has a market capitalization of about $3.06B.
When does SPS Commerce's fiscal year end?
SPS Commerce's fiscal year end, as registered with the SEC, is December 31.
Where is SPS Commerce headquartered?
SPS Commerce lists its business address in Minneapolis, Minnesota in its SEC filings.