SPS Commerce, Inc.SPSCNASDAQ

Revenue (LTM)

$752M

+17.8% YoY

Net Income (LTM)

$93M

+21.1% YoY

Free Cash Flow

$152M

Revenue CAGR (5Y)

+19.2%

—Marginsstable

FCF$0.2B

Profitable

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	385	451↑17.0%	537↑19.1%	638↑18.8%	752↑17.8%
Gross Profit	254	298↑17.4%	355↑19.2%	427↑20.3%	483↑13.0%
Operating Income	55	71↑29.2%	77↑8.5%	89↑15.1%	118↑33.1%
Net Income	45	55↑23.6%	66↑19.4%	77↑17.1%	93↑21.1%
EBITDA	78	99↑26.7%	112↑12.7%	131↑17.1%	182↑38.9%
EPS Diluted	1.21	1.49↑23.1%	1.76↑18.1%	2.04↑15.9%	2.46↑20.6%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	208	163↓21.5%	219↑34.5%	241↑10.0%	151↓37.2%
Total Current Assets	352	323↓8.4%	401↑24.4%	382↓4.9%	269↓29.7%
Total Assets	616	673↑9.3%	824↑22.4%	1,031↑25.2%	1,170↑13.4%
Total Current Liabilities	103	111↑7.6%	131↑18.1%	147↑12.3%	154↑5.2%
Total Liabilities	132	136↑3.2%	156↑15.1%	177↑12.9%	196↑11.0%
Total Equity	484	537↑10.9%	667↑24.3%	855↑28.0%	974↑13.9%
Total Debt	21	17↓15.8%	14↓18.8%	12↓11.1%	10↓19.5%
Net Debt	-187	-146↑22.1%	-205↓40.8%	-229↓11.5%	-141↑38.2%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	113	100↓11.4%	132↑32.2%	157↑19.0%	179↑13.6%
Capital Expenditure	-20	-20↓1.5%	-20↑0.6%	-20↓1.4%	-27↓32.3%
Free Cash Flow	93	80↓14.1%	113↑40.4%	137↑22.1%	152↑10.9%
Stock-Based Comp	28	33↑21.1%	46↑36.3%	55↑19.9%	54↓1.5%
Net Change in Cash	58	-45↓177.2%	56↑225.8%	22↓61.0%	-90↓508.7%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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