Metrics
The numbers behind SPS Commerce, Inc.: as-reported financial statements and company metrics for FY2021–FY2025, traced to the source filings, opened with the share-price history those statements have to justify. Every linked figure opens the exact page of the filing it was printed on, with the statement row highlighted. Amounts in US$ thousands unless noted.
Reading notes: All figures are in thousands of U.S. dollars as printed in SPS Commerce's Form 10-K and Form 10-Q filings (per-share amounts in dollars). Fiscal year ends December 31. FY2021-FY2025 statement figures are verified against, and cited to, each year's own Form 10-K (the income statement and cash-flow statement each present three years; the balance sheet two years). FY2016-FY2020 long-term-record figures are taken from the standardized data feed (SEC XBRL) and shown without page links. The corpus index describes the FY2021 10-K as covering 'the fiscal year ended December 31, 2020'; this is an index error - the filing itself reports fiscal year ended December 31, 2021 (revenues of $385.3 million), consistent with the feed and the FY2022 comparative column.
Share Price — Full Available History — 16 Years
The stock closed at $73.39 on Jul 31, 2026 — up 2,059% over the window shown (+20.8% a year), trading between $2.15 and $215.42. At that close the stock trades at 30× FY2025 diluted EPS as reported below.
Source: market price feed, monthly closes, sampled from 4,095 source observations, Apr 2010–Jul 2026. Price return only, excludes dividends. Prices are split-adjusted (1:2 on Aug 23, 2019).
Market capitalization $2.8bn.
Market cap = 38.0M shares outstanding × the Jul 31, 2026 close of $73.39. Market-derived, shown without filing links.
FY2025 at a Glance
Revenue (US$ thousands)
Net income (US$ thousands)
Diluted EPS
Source: FY2025 consolidated statements [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Revenue by Product
| Revenue by Product | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Fulfillment | 306,851 | 364,148 | 436,702 | 523,704 | 637,648 |
| Analytics | 42,674 | 46,894 | 51,703 | 55,717 | 56,017 |
| Other | 5,481 | 8,005 | 13,608 | 20,668 | 24,310 |
| Recurring revenues | 355,006 | 419,047 | 502,013 | 600,089 | 717,975 |
| One-time revenues | 30,270 | 31,828 | 34,897 | 37,676 | 33,530 |
| Total revenue | 385,276 | 450,875 | 536,910 | 637,765 | 751,505 |
| Total revenue growth, derived | — | +17.0% | +19.1% | +18.8% | +17.8% |
Source: Note C - Revenue (revenue disaggregation by stream) [5] [6] [7] [8]. Click any linked figure to open the filing page with the row highlighted.
Income Statement
Source: Consolidated Statements of Comprehensive Income [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Columns marked E are consensus analyst estimates from S&P Capital IQ (CapIQ), shown alongside reported results for direct comparison; they are not company guidance.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-08-02. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Balance Sheet
Source: Consolidated Balance Sheets [9] [10] [11] [12]. Click any linked figure to open the filing page with the row highlighted.
Cash Flow
Source: Consolidated Statements of Cash Flows [13] [14] [15] [16]. Click any linked figure to open the filing page with the row highlighted.
Long-Term Record
| Fiscal year | Total revenue | Income from operations | Net income | Diluted EPS | Operating cash flow | Capital expenditures |
|---|---|---|---|---|---|---|
| FY2016 | 193,153 | 6,385 | 4,963 | 0.29 | 18,765 | (8,008) |
| FY2017 | 220,085 | 9,981 | 351 | 0.01 | 31,050 | (7,271) |
| FY2018 | 248,240 | 26,731 | 23,872 | 0.68 | 55,015 | (13,750) |
| FY2019 | 279,124 | 38,406 | 33,712 | 0.94 | 71,794 | (13,585) |
| FY2020 | 312,630 | 50,158 | 45,586 | 1.26 | 88,562 | (16,467) |
| FY2021 | 385,276 | 55,085 | 44,597 | 1.21 | 112,893 | (19,588) |
| FY2022 | 450,875 | 71,182 | 55,134 | 1.49 | 100,052 | (19,880) |
| FY2023 | 536,910 | 77,248 | 65,824 | 1.76 | 132,298 | (19,761) |
| FY2024 | 637,765 | 88,883 | 77,054 | 2.04 | 157,398 | (20,046) |
| FY2025 | 751,505 | 118,303 | 93,339 | 2.46 | 178,790 | (26,524) |
Source: consolidated statements across filings; older years from the standardized feed [13] [1] [14] [2]. Click any linked figure to open the filing page with the row highlighted.
Analyst Consensus
Mean target
Median target
High target
Low target
Street ratings: 2 strong buy, 1 buy, 8 hold, 1 strong sell. Consensus: Hold.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-08-02. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Traceability
304 of 334 figures on this page (91%) link to the filing page where they are printed — click a linked figure to open the source PDF at that page with the row highlighted. Unlinked figures come from standardized data feeds or pre-filing years.
All figures are in thousands of U.S. dollars as printed in SPS Commerce's Form 10-K and Form 10-Q filings (per-share amounts in dollars). Fiscal year ends December 31.
FY2021-FY2025 statement figures are verified against, and cited to, each year's own Form 10-K (the income statement and cash-flow statement each present three years; the balance sheet two years).
FY2016-FY2020 long-term-record figures are taken from the standardized data feed (SEC XBRL) and shown without page links.
The corpus index describes the FY2021 10-K as covering 'the fiscal year ended December 31, 2020'; this is an index error - the filing itself reports fiscal year ended December 31, 2021 (revenues of $385.3 million), consistent with the feed and the FY2022 comparative column.
Revenue is disaggregated in Note C into recurring streams (Fulfillment, Analytics, Other) and One-time revenues; recurring revenue was 95-96% of total across FY2021-FY2025.
Cash-flow line label 'Acquisition of businesses, net' varies slightly by filing (e.g. 'Acquisition of business and intangible assets, net' in the FY2021 10-K, 'Acquisitions of businesses, net' in FY2022); each citation quotes the verbatim label from that filing.
Quarterly: Q1 FY25-Q1 FY26. Single-quarter income and point-in-time balance sheets are as printed in each 10-Q. The Q4 FY25 income column is derived from the FY2025 10-K full-year statement less the Q3 nine-month figure (reconciles exactly). Single-quarter operating cash flow and capex are derived from the printed year-to-date statements. No stock split occurred in the window (eps_split_adjusted=false).