SPSC
SPS Commerce, Inc.88.15
+1.91+2.21%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details Revenue Recovery pivot
Q&A unpacked Q4 revenue landing at guidance's low end from persistent macro scrutiny and Revenue Recovery take rates missing expectations amid Amazon policy shifts, while EBITDA hit the high end. Management detailed a pivot to 1P sellers in Revenue Recovery—aligning with ideal profiles—expecting to lap headwinds and down-sells by H2 2026 as enablement campaigns skew back-half. MAX AI's beta features (chat, monitor, agent-to-agent) promise differentiation; monetization to follow usage patterns. Delays proved consistent across verticals. Headwinds fade mid-year.
Key Stats
Market Cap
3.34BP/E (TTM)
39.35Basic EPS (TTM)
2.24Dividend Yield
0%Recent Filings
10-K
FY2025 results
SPS Commerce delivered FY2025 revenue of $751.5M, up 18% y/y, with recurring revenues hitting 96% of total and marking the 100th straight growth quarter. Q4 drove the momentum, fueled by ARPU climbing 8% to $14,350 amid higher Fulfillment usage, while recurring customers surged 20% to 54,600—powered by Carbon6's 8,500 additions. Acquisitions like SupplyPike and Carbon6 boosted goodwill to $541.7M, yet operating income rose 33% to $118.3M. Cash from operations hit $178.8M; $115M went to buybacks. Q4 accelerated growth. Solid liquidity persists. Economic weakness could slow retail spending.
8-K
Appoints two new directors
SPS Commerce expanded its board to ten and appointed Michael McConnell to the Finance & Strategy Committee and Funmibi Chima to the Audit Committee, effective February 12, 2026, via a cooperation agreement with Anson Funds. Anson, owning 535,000 shares, commits to standstill curbs and board support through 2026. Board shrinks to nine post-2026 meeting as Sven Wehrwein retires.
8-K
Q4 results, CFO change, buybacks
SPS Commerce reported Q4 revenue of $192.7M, up 13% YoY, with full-year revenue hitting $751.5M, up 18%, and Adjusted EBITDA rising 24% to $231.4M. CFO Kimberly Nelson retires after 10 years; Joseph Del Preto joins March 16 with $475K base, $10M equity package. Board added $200M to buybacks, totaling $300M through 2027. Leadership shift brings fresh finance expertise.
10-Q
Q3 FY2025 results
SPS Commerce posted Q3 revenue of $189.9M, up 16% y/y, with recurring revenue climbing 18% to $182.0M on fulfillment strength. Gross margin edged to 69% while operating income rose 22% y/y to $31.2M; diluted EPS held at $0.67 despite anti-dilution from 604K shares. Acquisitions drove growth—Carbon6 closed Feb 2025 for $210.2M (cash/stock), SupplyPike July 2024 for $205.8M (cash/stock), recognizing $272M goodwill and customer relationships/developed tech amortized over 8-9 years. Cash fell to $133.7M after $132.9M operating cash flow and $142.6M M&A spend, no debt. Repurchases consumed $90M YTD. Competition shadows customer adds.
8-K
Q3 beats, leadership shift, buybacks
SPS Commerce posted Q3 revenue of $189.9 million, up 16% year-over-year, with recurring revenue surging 18% and Adjusted EBITDA climbing 25% to $60.5 million. The firm named Eduardo Rosini as EVP & Chief Commercial Officer effective December 1, succeeding retiring CRO Dan Juckniess by year-end, while authorizing a $100 million share repurchase program starting same date through 2027. Leadership transitions smoothly. Q4 revenue guidance: $192.7-$194.7 million.
IPO
Website
Employees
Sector
Industry
CMRC
Commerce.com, Inc. - Series 1
4.30-0.04
CRM
Salesforce, Inc.
254.91+0.33
CXM
Sprinklr, Inc.
7.85+0.14
HUBS
HubSpot, Inc.
370.35+5.50
LSPD
Lightspeed Commerce Inc. Subord
11.93+0.25
SAP
SAP SE
243.66-0.83
SPT
Sprout Social, Inc
11.03+0.51
TRAK
ReposiTrak, Inc.
13.25+0.26
VTEX
VTEX
3.82+0.05
YAAS
Youxin Technology Ltd
1.61+0.03