SPS Commerce, Inc. (SPSC) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
333 SOUTH SEVENTH STREET MINNEAPOLIS, MN 55402 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7372 - Prepackaged Software (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 214,305 | 257,310 | 187,478 | 213,536 | 178,396 | 163,319 | |||
| Cash and cash equivalents | 162,893 | 207,552 | 149,692 | 179,252 | 133,859 | 123,127 | |||
| Short-term investments | 51,412 | 49,758 | 37,786 | 34,284 | 44,537 | 40,192 | |||
| Receivables | 39,435 | 34,562 | 33,578 | 31,532 | 27,488 | 24,897 | |||
| Deferred costs | 52,755 | 44,529 | 37,988 | 35,274 | 34,502 | 25,091 | |||
| Other current assets | 16,319 | 16,042 | 12,312 | 11,279 | 9,229 | 6,149 | |||
| Total current assets: | 322,814 | 352,443 | 271,356 | 291,621 | 249,615 | 219,456 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 9,170 | 10,851 | 15,581 | 15,744 | ✕ | ✕ | |||
| Property, plant and equipment | 35,458 | 31,901 | 26,432 | 23,752 | 20,957 | 16,856 | |||
| Long-term investments and receivables | 2,500 | 5,206 | |||||||
| Long-term investments | 2,500 | 5,206 | |||||||
| Intangible assets, net (including goodwill) | 285,636 | 202,250 | 195,083 | 99,513 | 92,399 | 68,142 | |||
| Goodwill | 197,284 | 143,663 | 134,853 | 76,845 | 69,658 | 51,613 | |||
| Intangible assets, net (excluding goodwill) | 88,352 | 58,587 | 60,230 | 22,668 | 22,741 | 16,529 | |||
| Deferred costs | 17,424 | 15,191 | 12,607 | 11,667 | 10,973 | 6,770 | |||
| Deferred income tax assets | 227 | 182 | 194 | 1,437 | ✕ | ✕ | |||
| Other noncurrent assets | 2,185 | 3,028 | 2,705 | 2,513 | 1,723 | 1,539 | |||
| Other undisclosed noncurrent assets | 1,193 | 10,456 | 17,551 | ||||||
| Total noncurrent assets: | 350,100 | 263,403 | 255,102 | 155,819 | 136,508 | 116,064 | |||
| TOTAL ASSETS: | 672,914 | 615,846 | 526,458 | 447,440 | 386,123 | 335,520 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 18,707 | 48,336 | 39,387 | 32,784 | 29,413 | 25,061 | |||
| Employee-related liabilities | ✕ | ✕ | 31,661 | 22,872 | 22,303 | 20,415 | 15,886 | ||
| Accounts payable | 11,256 | 8,330 | 5,354 | 4,274 | 4,440 | 4,463 | |||
| Accrued liabilities | 7,451 | 8,345 | 11,161 | 6,207 | 4,558 | 4,712 | |||
| Deferred revenue | 57,423 | 50,428 | 37,947 | 31,463 | ✕ | ✕ | |||
| Debt | 3,783 | ||||||||
| Deferred rent credit | 1,781 | ✕ | |||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 18,086 | ||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 25,328 | ✕ | ||
| Other undisclosed current liabilities | 34,512 | 4,108 | 2,798 | ||||||
| Total current liabilities: | 110,642 | 102,872 | 80,132 | 68,030 | 56,522 | 43,147 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation: | 16,426 | 19,672 | 20,085 | ||||||
| Liabilities, other than long-term debt | 25,199 | 12,289 | 5,933 | 3,256 | 10,627 | 15,553 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 13,666 | ||
| Deferred revenue | 4,771 | 5,144 | 2,996 | 2,851 | ✕ | ✕ | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 2,512 | ✕ | ||
| Deferred rent credit | 5,371 | ✕ | |||||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 1,376 | 1,887 | ||
| Deferred income tax liabilities | 7,419 | 7,145 | 2,937 | ✕ | ✕ | ||||
| Other liabilities | 405 | 1,368 | |||||||
| Operating lease, liability | 13,009 | 16,426 | 19,672 | 20,085 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 1,193 | ||||||||
| Total noncurrent liabilities: | 25,199 | 28,715 | 25,605 | 24,534 | 10,627 | 15,553 | |||
| Total liabilities: | 135,841 | 131,587 | 105,737 | 92,564 | 67,149 | 58,700 | |||
| Equity | |||||||||
| Equity, attributable to parent | 537,073 | 484,259 | 420,721 | 354,876 | 318,974 | 276,820 | |||
| Common stock | 38 | 38 | 37 | 36 | 18 | 17 | |||
| Treasury stock, value | (128,892) | (85,677) | (65,247) | (46,297) | (25,679) | (5,815) | |||
| Additional paid in capital | 476,117 | 433,258 | 393,462 | 354,115 | 332,592 | 301,863 | |||
| Accumulated other comprehensive income (loss) | (3,411) | (1,447) | (1,021) | (1,951) | (3,218) | 657 | |||
| Retained earnings (accumulated deficit) | 193,221 | 138,087 | 93,490 | 48,973 | 15,261 | (19,902) | |||
| Total equity: | 537,073 | 484,259 | 420,721 | 354,876 | 318,974 | 276,820 | |||
| TOTAL LIABILITIES AND EQUITY: | 672,914 | 615,846 | 526,458 | 447,440 | 386,123 | 335,520 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 450,875 | 385,276 | 312,630 | 279,124 | 248,240 | 220,566 | ||
| Cost of revenue | (153,065) | (131,678) | (99,836) | (92,239) | (81,748) | (73,625) | ||
| Gross profit: | 297,810 | 253,598 | 212,794 | 186,885 | 166,492 | 146,941 | ||
| Operating expenses | (226,628) | (198,513) | (162,636) | (148,479) | (139,761) | (138,513) | ||
| Operating income: | 71,182 | 55,085 | 50,158 | 38,406 | 26,731 | 8,428 | ||
| Nonoperating income (expense) | 142 | (1,544) | 2,522 | 3,664 | 1,609 | 712 | ||
| Investment income, nonoperating | 1,670 | 278 | ||||||
| Gain (loss), foreign currency transaction, before tax | (1,026) | (1,456) | ||||||
| Other nonoperating income (expense) | (502) | (366) | 1,334 | 272 | (720) | (320) | ||
| Income from continuing operations before income taxes: | 71,324 | 53,541 | 52,680 | 42,070 | 28,340 | 9,140 | ||
| Income tax expense | (16,190) | (8,944) | (7,094) | (8,358) | (4,468) | (11,580) | ||
| Income (loss) from continuing operations: | 55,134 | 44,597 | 45,586 | 33,712 | 23,872 | (2,440) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 44,597 | 45,586 | 33,712 | 23,872 | (2,440) | |
| Net income (loss) available to common stockholders, diluted: | 55,134 | 44,597 | 45,586 | 33,712 | 23,872 | (2,440) | ||
Comprehensive Income ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 55,134 | 44,597 | 45,586 | 33,712 | 23,872 | (2,440) | ||
| Other comprehensive income (loss) | (2,240) | (514) | 1,097 | 1,290 | (3,999) | 3,944 | ||
| Comprehensive income: | 52,894 | 44,083 | 46,683 | 35,002 | 19,873 | 1,504 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 276 | 88 | (167) | (31) | 124 | 39 | ||
| Comprehensive income, net of tax, attributable to parent: | 53,170 | 44,171 | 46,516 | 34,971 | 19,997 | 1,543 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.