SPS COMMERCE INC

SPS Commerce, Inc. (NASDAQ: SPSC) operates a global supply chain network that connects retailers, brands, distributors, manufacturers, and logistics providers through shared cloud-based infrastructure. The company's website is www.spscommerce.com.

The company provides cloud-based supply chain management solutions designed to streamline commerce operations across wholesale, eCommerce, marketplace, and direct-to-consumer channels. SPS Commerce's core products include Fulfillment, which enables automated order data exchange and execution; Analytics, which simplifies management of sell-through data through pre-built dashboards and custom reporting; Assortment, which automates communication of item data across sales channels; and Relationship Management, which facilitates supplier onboarding and collaboration. The company also offers professional services, testing, and certification capabilities.

SPS Commerce operates a multi-tenant cloud service model that treats customers as logically separate tenants within shared virtual infrastructure, enabling the company to spread delivery costs across its customer base and scale efficiently. The company's network effect creates significant value as each new participant gains immediate access to transact with thousands of existing connections, while existing participants benefit from expanded transaction opportunities.

As of December 31, 2025, SPS Commerce employed 2,948 people globally, with 78 percent of its workforce based in North America. The company maintains development operations in the United States, Australia, Canada, the Netherlands, Poland, and Ukraine, with infrastructure provisioned across North America, Europe, and Australia through third-party data centers and cloud providers.

The company generated revenues of $751.5 million in 2025, representing its 100th consecutive quarter of revenue growth. Recurring revenues from recurring revenue customers accounted for 96 percent of total revenues. The company serves a diversified customer base with no single customer representing more than one percent of total revenues. SPS Commerce competes in the fragmented cloud-based supply chain management market against traditional on-premise software providers, managed service providers, and other cloud-service vendors, differentiating itself through its extensive pre-built network connections, full-service operational model, and comprehensive product suite.