# SPS Commerce Inc: overview

SPSC · Nasdaq · CIK 1092699 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/spsc.md) · [Financials](/companies/spsc/financials.md) · [Filings](/companies/spsc/filings.md) · [Insiders](/companies/spsc/insiders.md)

Latest reported revenue: [$197.6m](/filings/0001092699-26-000075.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 29, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001092699-26-000075).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [171 d](/filings/0001092699-26-000012.md) | [182](/filings/0001092699-26-000043.md) | [187](/filings/0001092699-26-000066.md) | [190](/filings/0001092699-26-000075.md) | [193 d](/filings/0001092699-26-000012.md) | [192](/filings/0001092699-26-000043.md) | [198](/filings/0001092699-26-000066.md) | [198](/filings/0001092699-26-000075.md) |
| Gross margin | % | [67.5% d](/filings/0001092699-26-000012.md) | [68.7%](/filings/0001092699-26-000043.md) | [68.1%](/filings/0001092699-26-000066.md) | [69.5%](/filings/0001092699-26-000075.md) | [70.4% d](/filings/0001092699-26-000012.md) | [69.2%](/filings/0001092699-26-000043.md) | [70.2%](/filings/0001092699-26-000066.md) | [71.1%](/filings/0001092699-26-000075.md) |
| Operating margin | % | [14.5% d](/filings/0001092699-26-000012.md) | [14.3%](/filings/0001092699-26-000043.md) | [14.1%](/filings/0001092699-26-000066.md) | [16.4%](/filings/0001092699-26-000075.md) | [18.0% d](/filings/0001092699-26-000012.md) | [12.8%](/filings/0001092699-26-000043.md) | [4.3%](/filings/0001092699-26-000066.md) | [20.2%](/filings/0001092699-26-000075.md) |
| Net margin | % | [10.3% d](/filings/0001092699-26-000012.md) | [12.2%](/filings/0001092699-26-000043.md) | [10.5%](/filings/0001092699-26-000066.md) | [13.5%](/filings/0001092699-26-000075.md) | [13.4% d](/filings/0001092699-26-000012.md) | [10.3%](/filings/0001092699-26-000043.md) | [3.5%](/filings/0001092699-26-000066.md) | [15.5%](/filings/0001092699-26-000075.md) |
| Diluted EPS | $ per share | not reported | [0.58](/filings/0001092699-26-000043.md) | [0.52](/filings/0001092699-26-000066.md) | [0.67](/filings/0001092699-26-000075.md) | not reported | [0.53](/filings/0001092699-26-000043.md) | [0.19](/filings/0001092699-26-000066.md) | [0.85](/filings/0001092699-26-000075.md) |
| Free cash flow | $m | [34.3 d](/filings/0001092699-26-000012.md) | [33.8](/filings/0001092699-26-000043.md) | [25.7 d](/filings/0001092699-26-000066.md) | [54.6 d](/filings/0001092699-26-000075.md) | [38.2 d](/filings/0001092699-26-000012.md) | [48.5](/filings/0001092699-26-000043.md) | [57.4 d](/filings/0001092699-26-000066.md) | [58.5 d](/filings/0001092699-26-000075.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [385](/filings/0001092699-24-000012.md) | [451](/filings/0001092699-25-000011.md) | [537](/filings/0001092699-26-000012.md) | [638](/filings/0001092699-26-000012.md) | [752](/filings/0001092699-26-000012.md) |
| Gross margin | % | [65.8%](/filings/0001092699-24-000012.md) | [66.1%](/filings/0001092699-25-000011.md) | [66.1%](/filings/0001092699-26-000012.md) | [67.0%](/filings/0001092699-26-000012.md) | [69.2%](/filings/0001092699-26-000012.md) |
| Operating margin | % | [14.3%](/filings/0001092699-24-000012.md) | [15.8%](/filings/0001092699-25-000011.md) | [14.4%](/filings/0001092699-26-000012.md) | [13.9%](/filings/0001092699-26-000012.md) | [15.7%](/filings/0001092699-26-000012.md) |
| Net margin | % | [11.6%](/filings/0001092699-24-000012.md) | [12.2%](/filings/0001092699-25-000011.md) | [12.3%](/filings/0001092699-26-000012.md) | [12.1%](/filings/0001092699-26-000012.md) | [12.4%](/filings/0001092699-26-000012.md) |
| Diluted EPS | $ per share | [1.21](/filings/0001092699-24-000012.md) | [1.49](/filings/0001092699-25-000011.md) | [1.76](/filings/0001092699-26-000012.md) | [2.04](/filings/0001092699-26-000012.md) | [2.46](/filings/0001092699-26-000012.md) |
| Free cash flow | $m | [93.3](/filings/0001092699-24-000012.md) | [80.2](/filings/0001092699-25-000011.md) | [113](/filings/0001092699-26-000012.md) | [137](/filings/0001092699-26-000012.md) | [152](/filings/0001092699-26-000012.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/spsc/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $339.3m | 5,934,211 |  | Added +105,575 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $166.6m | 2,914,709 |  | Reduced −44,130 |
| [DISCIPLINED GROWTH INVESTORS INC /MN](/funds/1050442.md) | 2026-06-30 | $121.4m | 2,123,881 |  | Added +1,312,943 |
| [NEUBERGER BERMAN GROUP LLC](/funds/1465109.md) | 2026-06-30 | $101.8m | 1,780,876 |  | Reduced −9,422 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $91.4m | 1,598,383 |  | Reduced −99,740 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $88.4m | 1,545,696 |  | Added +45,886 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $72.4m | 1,266,247 |  | Added +268,288 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $63.3m | 1,107,434 |  | Added +38,218 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $57.1m | 997,970 |  | Added +37,090 |
| [Jupiter Topco LLC](/funds/2146052.md) | 2026-06-30 | $56.3m | 984,427 |  | Not compared |

## Recent filings

[All 1,009 filings](/companies/spsc/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-29 | 16:10 ET | [10-Q](/filings/0001092699-26-000075.md) | Quarterly report, period 2026-09-30 | 0001092699-26-000075 |
| 2026-10-29 | 16:09 ET | [8-K](/filings/0001092699-26-000074.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001092699-26-000074 |
| 2026-07-30 | 16:13 ET | [10-Q](/filings/0001092699-26-000066.md) | Quarterly report, period 2026-06-30 | 0001092699-26-000066 |
| 2026-07-30 | 16:08 ET | [8-K](/filings/0001092699-26-000063.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001092699-26-000063 |
| 2026-07-21 | 17:08 ET | [10-Q/A](/filings/0001092699-26-000059.md) | Quarterly report, amended, period 2026-03-31 | 0001092699-26-000059 |
| 2026-05-28 | 17:00 ET | [8-K](/filings/0001092699-26-000054.md) | 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001092699-26-000054 |
| 2026-05-21 | 16:05 ET | [8-K](/filings/0001092699-26-000051.md) | 5.02 Departure or appointment of officers or directors | 0001092699-26-000051 |
| 2026-04-30 | 16:20 ET | [10-Q](/filings/0001092699-26-000043.md) | Quarterly report, period 2026-03-31 | 0001092699-26-000043 |
| 2026-04-30 | 16:17 ET | [8-K](/filings/0001092699-26-000042.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001092699-26-000042 |
| 2026-04-14 | 16:17 ET | [DEF 14A](/filings/0001092699-26-000029.md) | Proxy statement, period 2025-12-31 | 0001092699-26-000029 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001092699-26-000012.md), filed Feb 19, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, has been scored from the reported figures. [See the target](/leagues/2026q3/targets/06491ab8-0e00-4e2e-a1f4-559416849ae5)

## About the filer

- CIK: 1092699
- Tickers: SPSC
- Exchange: Nasdaq
- SIC code: 7372 Services-Prepackaged Software
- State of incorporation: not reported
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 17:33 ET. No prices; not investment advice.