SPSC
$87.99+3.01%
SPS Commerce Inc.Stock · TechnologyRussell 2000 · 0.07% of IWMNasdaq Composite · 0.007% of ONEQRussell 3000 · 0.003% of IWVUS Stock Market · 0.003% of VTI
SPSC financial statements
The full income statement, balance sheet, and cash-flow statement for SPS Commerce Inc. (SPSC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 37.1M2024-09 37.6M2024-12 37.8M2025-03 38.0M2025-06 37.9M2025-09 37.7M2025-12 37.4M2026-03 36.7M2026-06 36.0M-3.0% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 752M+17.8% | 638M+18.8% | 537M+19.1% | 451M+17.0% | 385M+23.2% | |
| 520M+21.7% | 427M+20.3% | 355M+19.2% | 298M+17.4% | 254M+19.2% | ||
| Cost of revenue | 232M+9.9% | 211M+15.7% | 182M+18.9% | 153M+16.2% | 132M+31.9% | |
| 402M+18.7% | 338M+21.8% | 278M+22.5% | 227M+14.2% | 199M+22.1% | ||
| Research & development | 68.7M+9.3% | 62.8M+17.1% | 53.7M+17.3% | 45.7M+17.2% | 39.0M+25.8% | |
| Selling, general & administrative | 127M+23.0% | 103M+21.3% | 84.9M+26.1% | 67.3M+9.8% | 61.3M+22.3% | |
| General & administrative | 127M+23.0% | 103M+21.3% | 84.9M+26.1% | 67.3M+9.8% | 61.3M+22.3% | |
| Selling & marketing | 169M+13.6% | 149M+21.1% | 123M+20.8% | 102M+15.6% | 88.0M+15.9% | |
| Amortization of intangibles | 37.2M+58.1% | 23.5M+45.9% | 16.1M+36.9% | 11.8M+16.2% | 10.1M+82.8% | |
| Provision for credit losses | 9.92M+29.1% | 7.68M+34.6% | 5.71M+69.9% | 3.36M-28.8% | 4.72M-16.7% | |
| Operating income | 118M+33.1% | 88.9M+15.1% | 77.2M+8.5% | 71.2M+29.2% | 55.1M+9.8% | |
| Other non-operating income | 495K+576.0% | -104K+90.3% | -1.07M-113.3% | -502K-37.2% | -366K-3.4% | |
| Pre-tax income | 124M+24.5% | 99.5M+16.3% | 85.6M+20.0% | 71.3M+33.2% | 53.5M+1.6% | |
| Income tax | 30.5M+36.0% | 22.4M+13.6% | 19.7M+21.9% | 16.2M+81.0% | 8.94M+26.1% | |
| Net income | 93.3M+21.1% | 77.1M+17.1% | 65.8M+19.4% | 55.1M+23.6% | 44.6M-2.2% | |
| $2.46+20.6% | $2.04+15.9% | $1.76+18.1% | $1.49+23.1% | $1.21-4.0% | ||
| EPS (basic) | $2.46+18.8% | $2.07+15.0% | $1.80+17.6% | $1.53+23.4% | $1.24-3.9% | |
| Weighted-avg shares (basic) | 37.9M+1.5% | 37.3M+1.8% | 36.6M+1.5% | 36.1M+0.5% | 35.9M+2.0% | |
| Weighted-avg shares (diluted) | 38.0M+0.4% | 37.9M+1.0% | 37.5M+1.4% | 37.0M-0.0% | 37.0M+1.9% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 335M-12.2% | 382M-4.9% | 401M+24.4% | 323M-8.4% | 352M+29.9% | ||
| Cash & equivalents | 151M-37.2% | 241M+10.0% | 219M+34.5% | 163M-21.5% | 208M+38.7% | |
| Short-term investments | — | 0.00-100.0% | 56.4M+9.6% | 51.4M+3.3% | 49.8M+31.7% | |
| Accounts receivable | 68.2M+31.0% | 52.0M+11.1% | 46.8M+18.8% | 39.4M+14.1% | 34.6M+2.9% | |
| Other current assets | 49.1M+108.8% | 23.5M+40.3% | 16.8M+2.7% | 16.3M+1.7% | 16.0M+30.3% | |
| 1.17B+13.4% | 1.03B+25.2% | 824M+22.4% | 673M+9.3% | 616M+17.0% | ||
| Property, plant & equipment | 43.1M+14.8% | 37.5M+4.2% | 36.0M+1.6% | 35.5M+11.2% | 31.9M+20.7% | |
| Operating lease right-of-use | 5.03M-38.7% | 8.19M+4.2% | 7.86M-14.3% | 9.17M-15.5% | 10.9M-30.4% | |
| Goodwill | 542M+35.7% | 399M+60.2% | 249M+26.3% | 197M+37.3% | 144M+6.5% | |
| Intangible assets | 216M+19.0% | 181M+68.9% | 107M+21.5% | 88.4M+50.8% | 58.6M-2.7% | |
| Deferred tax assets | 493K-2.4% | 505K+0.0% | 505K+122.5% | 227K+24.7% | 182K-6.2% | |
| Other non-current assets | 7.67M+277.1% | 2.03M+80.6% | 1.13M-48.5% | 2.19M-27.8% | 3.03M+11.9% | |
| 154M+5.2% | 147M+12.3% | 131M+18.1% | 111M+7.6% | 103M+28.4% | ||
| Accounts payable | 13.8M+60.4% | 8.58M+15.6% | 7.42M-34.1% | 11.3M+35.1% | 8.33M+55.6% | |
| Accrued liabilities | 13.1M+8.0% | 12.1M+51.1% | 8.01M+7.6% | 7.45M-10.7% | 8.35M-25.2% | |
| Deferred revenue | 75.6M+1.8% | 74.3M+7.3% | 69.2M+20.5% | 57.4M+13.9% | 50.4M+32.9% | |
| Current lease liability | 4.35M-5.0% | 4.58M+2.8% | 4.46M+4.3% | 4.28M+4.1% | 4.11M+46.8% | |
| 196M+11.0% | 177M+12.9% | 156M+15.1% | 136M+3.2% | 132M+24.4% | ||
| Deferred revenue (non-current) | 5.29M-14.6% | 6.19M-10.7% | 6.93M+45.3% | 4.77M-7.3% | 5.14M+71.7% | |
| Non-current lease liability | 2.84M-64.0% | 7.88M-17.6% | 9.57M-26.4% | 13.0M-20.8% | 16.4M-16.5% | |
| Operating lease liability (total) | 7.19M-42.3% | 12.5M-11.1% | 14.0M-18.8% | 17.3M-15.8% | 20.5M-8.6% | |
| Deferred tax liabilities | 33.2M+113.6% | 15.5M+73.2% | 8.97M+20.9% | 7.42M+3.8% | 7.14M+143.3% | |
| Other non-current liabilities | 287K+19.1% | 241K+5.2% | 229K | 0.00 | — | |
| 974M+13.9% | 855M+28.0% | 667M+24.3% | 537M+10.9% | 484M+15.1% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 40.0K+0.0% | 40.0K+2.6% | 39.0K+2.6% | 38.0K+0.0% | 38.0K+2.7% | |
| Additional paid-in capital | 723M+15.1% | 628M+16.9% | 537M+12.8% | 476M+9.9% | 433M+10.1% | |
| Retained earnings | 429M+27.8% | 336M+29.7% | 259M+34.1% | 193M+39.9% | 138M+47.7% | |
| Treasury stock | 178M+78.4% | 99.7M-22.6% | 129M+0.0% | 129M+50.4% | 85.7M+31.3% | |
| Accumulated other comprehensive income | -373K+96.1% | -9.68M-4461.7% | 222K+106.5% | -3.41M-135.7% | -1.45M-41.7% | |
| Total liabilities & equity | 1.17B+13.4% | 1.03B+25.2% | 824M+22.4% | 673M+9.3% | 616M+17.0% | |
| Common shares issued | 40.0M+1.2% | 39.6M+1.6% | 39.0M+1.7% | 38.3M+1.4% | 37.8M+1.9% | |
| Common shares outstanding | 37.5M-0.4% | 37.7M+2.3% | 36.8M+1.8% | 36.2M+0.4% | 36.0M+1.5% | |
| Shares outstanding (cover) | 37.4M-1.0% | 37.8M+2.2% | 37.0M+1.8% | 36.3M+0.9% | 36.0M+1.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 179M+13.6% | 157M+19.0% | 132M+32.2% | 100M-11.4% | 113M+27.5% | ||
| Depreciation & amortization | 21.1M+12.6% | 18.7M+0.5% | 18.6M+13.5% | 16.4M+11.0% | 14.8M+12.7% | |
| Intangible amortization | 37.2M+58.1% | 23.5M+45.9% | 16.1M+36.9% | 11.8M+16.2% | 10.1M+82.8% | |
| Share-based compensation | 53.7M-1.5% | 54.6M+19.9% | 45.5M+36.3% | 33.4M+21.1% | 27.6M+45.6% | |
| Deferred income taxes | 18.9M+293.2% | -9.79M+2.9% | -10.1M-170.1% | -3.73M-196.2% | 3.88M-8.5% | |
| Change in receivables | 20.3M+110.3% | 9.65M-19.2% | 11.9M+85.7% | 6.43M+29.8% | 4.96M-16.3% | |
| Change in payables | 4.71M+492.3% | 796K+120.2% | -3.95M-2841.0% | 144K-93.6% | 2.26M+86.1% | |
| -169M-53.1% | -110M-19.2% | -92.6M+17.9% | -113M-141.5% | -46.7M+61.2% | ||
| Capital expenditure | 26.5M+32.3% | 20.0M+1.4% | 19.8M-0.6% | 19.9M+1.5% | 19.6M+19.0% | |
| Free cash flow | 152M+10.9% | 137M+22.1% | 113M+40.4% | 80.2M-14.1% | 93.3M+29.4% | |
| Acquisitions | 143M-3.6% | 148M+110.7% | 70.2M-23.2% | 91.4M+435.7% | 17.1M | |
| -101M-337.9% | -23.0M-244.2% | 16.0M+150.5% | -31.6M-278.3% | -8.36M-459.1% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 114M+204.2% | 37.6M | 0.00-100.0% | 43.2M+111.5% | 20.4M+7.8% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | -89.7M-508.7% | 21.9M-61.0% | 56.2M+225.8% | -44.7M-177.2% | 57.9M+295.7% | |
| Income taxes paid | 28.9M+6.6% | 27.1M-7.2% | 29.2M+81.7% | 16.1M+61.1% | 9.98M+502.6% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.33B-52.0% | 6.95B-2.3% | 7.11B+53.7% | 4.63B-9.7% | 5.13B+32.6% | |
| P/E | 35.7×-60.4% | 90.2×-20.5% | 113.4×+27.4% | 89.0×-22.5% | 114.9×+35.6% | |
| P/S | 4.4×-59.3% | 10.9×-21.3% | 13.8×+29.1% | 10.7×-19.4% | 13.3×+7.6% | |
| P/B | 3.4×-57.9% | 8.1×-28.3% | 11.3×+24.5% | 9.1×-13.9% | 10.6×+15.2% | |
| P/FCF | 21.9×-56.7% | 50.6×-27.7% | 70.0×+35.9% | 51.5×-6.3% | 54.9×+2.5% | |
| Earnings yield | 2.8%+152.6% | 1.1%+25.7% | 0.88%-21.5% | 1.1%+29.1% | 0.87%-26.2% | |
| FCF yield | 4.6%+131.2% | 2.0%+38.3% | 1.4%-26.4% | 1.9%+6.7% | 1.8%-2.4% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: SPSC’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SPSC filings on SEC EDGAR → Not investment advice.