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Companies / Information Technology / SPS Commerce, Inc.
SPSC

SPS Commerce, Inc.

Information TechnologyPrepackaged Software
Ticker SPSCMINNEAPOLIS, MNFiscal year ends DecemberBook value per share $25.39Diluted shares 36.7M

SPS Commerce, Inc. (Nasdaq: SPSC) operates a cloud-based supply chain network that connects retailers, grocers, brands, distributors, manufacturers, suppliers and logistics providers so they can exchange data and transact with trading partners. Its full-service offerings manage connections, compliance rules,… From the company’s description.

Over the twelve months to Sep 30, 2026, SPS Commerce, Inc. reported revenue of $780.24M, up 6.9% from a year earlier, and net income of $83.12M. Its operating margin was 13.8%, and operations generated $231.53M in cash. In fiscal 2025, it reported revenue of $751.50M, up 17.8% from fiscal 2024, and net income of $93.34M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$751.50MFY2025
+17.8% year over year
Last 12 mo $780.24M
15.74%FY2025
+1.8 percentage points
Last 12 mo 13.79%
$93.34MFY2025
+21.1% year over year
Last 12 mo $83.12M
9.58%FY2025
+0.6 percentage points
Last 12 mo 8.91%
Cash & financing
$178.79MFY2025
+13.6% year over year
Last 12 mo $231.53M
$152.27MFY2025
+10.9% year over year
Last 12 mo $202.64M
—
38.0MFY2025
+0.4% year over year
Last 12 mo 36.7M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What SPS Commerce, Inc. does

In the company’s own words

SPS Commerce, Inc. (Nasdaq: SPSC) operates a cloud-based supply chain network that connects retailers, grocers, brands, distributors, manufacturers, suppliers and logistics providers so they can exchange data and transact with trading partners. Its full-service offerings manage connections, compliance rules, onboarding and transaction monitoring, helping customers automate supply chain processes across wholesale, e-commerce, marketplace and direct-to-consumer channels. Products include Fulfillment for order-to-invoice processes, Analytics for sell-through data and reporting, Assortment for item information, and Relationship Management for supplier onboarding and collaboration; the company also provides professional, testing and certification services. SPS Commerce serves customers through recurring subscriptions and operates as a global network rather than describing separate reportable business segments. Revenue was $751.5 million for fiscal 2025, and the company had 2,948 employees worldwide at year-end. In 2025, it acquired Carbon6 Technologies, whose software tools for Amazon sellers added revenue-recovery capabilities and customers. Its website is www.spscommerce.com.

Company details
Sector
Information Technology
Industry (SIC)
Prepackaged Software
Headquarters
MINNEAPOLIS, MN
Fiscal year end
December
CIK
1092699
SIC
7372

Financial performance, year by year

Fiscal 2011–2025 · USD
$-80.71M$154.09M$388.90M$623.70M$858.50M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns SPS Commerce, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

281
funds hold it
0 of 35
superinvestors hold it
$927.12M
held by funds, at market
46.0%
of shares held by funds

Largest fund holders · SPS Commerce, Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.11%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
Neuberger Genesis Fund
NBGNX · NEUBERGER BERMAN EQUITY FUNDS
—of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.07%of fund net assets
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do SPS Commerce, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of SPS Commerce, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in SPS Commerce, Inc.'s last four quarterly filings that the numbers alone won't show?”
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