0001092699-26-000012
SEC filingSPS Commerce, Inc. (SPSC) reported strong financial results for fiscal year 2025, ending December 31, 2025. The company achieved total revenues of $751.5 million, generating a gross profit of $519.9 million and net income of $93.3 million. Operating income stood at $118.3 million, with comprehensive income reaching $102.6 million. The company maintained robust cash generation with $178.8 million in net cash provided by operating activities, though net cash decreased by $89.7 million due to significant investing and financing activities including business acquisitions and stock repurchases. The balance sheet shows total assets of $1.17 billion with stockholders' equity of $973.9 million, indicating a strong financial position. Earnings per share were $2.00 both basic and diluted.
SPS Commerce, Inc. delivered solid financial performance for fiscal year 2025 with total revenues of $751.5 million. The company achieved gross profit of $519.9 million and net income of $93.3 million. Operating income was $118.3 million, representing an operating margin of 15.7%. Comprehensive income totaled $102.6 million, including $9.3 million in foreign currency translation adjustments. The company reported earnings per share of $2.00 for both basic and diluted calculations. Weighted average shares outstanding were 37.9 million basic and 38.0 million diluted. The financial results demonstrate the company's ability to generate substantial profitability from its operations.
The company reported total revenues of $751.5 million for fiscal year 2025. Cost of revenues was $231.6 million, resulting in a gross profit of $519.9 million and a gross margin of 69.2%. The document does not provide segment breakdown or geographic mix information. Operating expenses totaled $401.6 million, consisting of sales and marketing ($169.1 million), research and development ($68.7 million), general and administrative ($126.6 million), and amortization of intangible assets ($37.2 million). Other income contributed $5.5 million to pre-tax income.
The company maintained strong profitability metrics with a gross margin of 69.2% on $751.5 million in revenue. Operating margin was 15.7% based on operating income of $118.3 million. The cost structure shows significant investment in sales and marketing ($169.1 million) and research and development ($68.7 million). General and administrative expenses were $126.6 million. Income tax expense was $30.5 million, resulting in an effective tax rate of approximately 24.6% on pre-tax income of $123.8 million. The company's profitability demonstrates efficient operations despite substantial investments in growth initiatives.
The company generated $178.8 million in net cash from operating activities, primarily driven by net income of $93.3 million adjusted for non-cash items including depreciation and amortization ($58.3 million total), stock-based compensation ($53.7 million), and deferred income taxes ($18.9 million). Investing activities used $169.2 million, including $142.6 million for business acquisitions and $26.5 million for property and equipment purchases. Financing activities used $100.8 million, mainly for $114.3 million in common stock repurchases. The balance sheet shows total assets of $1.17 billion, including $151.4 million in cash and cash equivalents, $541.7 million in goodwill, and $215.8 million in intangible assets. Total liabilities were $196.0 million with stockholders' equity of $973.9 million.
The document does not provide specific management guidance, strategic priorities, or forward-looking statements regarding future performance. The filing includes standard risk factors typical for SEC filings but does not disclose specific quantitative guidance for future periods. Investors should refer to subsequent filings and company communications for updated outlook information. The company's strong cash generation and solid balance sheet position it well for continued operations and potential strategic initiatives.