SPS Commerce Inc. (SPSC) Financial Statements (2025 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)

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments275,440214,305257,310187,478213,536178,396
Cash and cash equivalents219,081162,893207,552149,692179,252133,859
Short-term investments56,35951,41249,75837,78634,28444,537
Receivables46,84039,43534,56233,57831,53227,488
Deferred costs62,40352,75544,52937,98835,27434,502
Other current assets16,75816,31916,04212,31211,2799,229
Total current assets:401,441322,814352,443271,356291,621249,615
Noncurrent Assets
Operating lease, right-of-use asset7,8629,17010,85115,58115,744
Property, plant and equipment36,04335,45831,90126,43223,75220,957
Long-term investments and receivables    2,500  
Long-term investments    2,500  
Intangible assets, net (including goodwill)356,520285,636202,250195,08399,51392,399
Goodwill249,176197,284143,663134,85376,84569,658
Intangible assets, net (excluding goodwill)107,34488,35258,58760,23022,66822,741
Deferred costs20,34717,42415,19112,60711,66710,973
Deferred income tax assets5052271821941,437
Other noncurrent assets1,1262,1853,0282,7052,5131,723
Other undisclosed noncurrent assets     1,19310,456
Total noncurrent assets:422,403350,100263,403255,102155,819136,508
TOTAL ASSETS:823,844672,914615,846526,458447,440386,123
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities15,43418,70748,33639,38732,78429,413
Employee-related liabilities31,66122,87222,30320,415
Accounts payable7,42011,2568,3305,3544,2744,440
Accrued liabilities8,0147,4518,34511,1616,2074,558
Deferred revenue69,18757,42350,42837,94731,463
Debt     3,783 
Deferred rent credit      1,781
Contract with customer, liability25,328
Other undisclosed current liabilities46,04834,5124,1082,798  
Total current liabilities:130,669110,642102,87280,13268,03056,522
Noncurrent Liabilities
Long-term debt and lease obligation:   16,42619,67220,085 
Liabilities, other than long-term debt25,70025,19912,2895,9333,25610,627
Deferred revenue6,9304,7715,1442,9962,851
Contract with customer, liability2,512
Deferred rent credit      5,371
Deferred tax liabilities, net1,376
Deferred income tax liabilities8,9727,4197,1452,937 
Other liabilities229   4051,368
Operating lease, liability9,56913,00916,42619,67220,085
Other undisclosed noncurrent liabilities     1,193 
Total noncurrent liabilities:25,70025,19928,71525,60524,53410,627
Total liabilities:156,369135,841131,587105,73792,56467,149
Equity
Equity, attributable to parent667,475537,073484,259420,721354,876318,974
Common stock393838373618
Treasury stock, value(128,892)(128,892)(85,677)(65,247)(46,297)(25,679)
Additional paid in capital537,061476,117433,258393,462354,115332,592
Accumulated other comprehensive income (loss)222(3,411)(1,447)(1,021)(1,951)(3,218)
Retained earnings259,045193,221138,08793,49048,97315,261
Total equity:667,475537,073484,259420,721354,876318,974
TOTAL LIABILITIES AND EQUITY:823,844672,914615,846526,458447,440386,123

Income Statement (P&L) ($ in thousands)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues536,910450,875385,276312,630279,124248,240
Cost of revenue(182,069)(153,065)(131,678)(99,836)(92,239)(81,748)
Gross profit:354,841297,810253,598212,794186,885166,492
Operating expenses(277,593)(226,628)(198,513)(162,636)(148,479)(139,761)
Operating income:77,24871,18255,08550,15838,40626,731
Nonoperating income (expense)8,315142(1,544)2,5223,6641,609
Investment income, nonoperating7,6601,670278   
Gain (loss), foreign currency transaction, before tax1,726(1,026)(1,456)   
Other nonoperating income (expense)(1,071)(502)(366)1,334272(720)
Income from continuing operations before income taxes:85,56371,32453,54152,68042,07028,340
Income tax expense(19,739)(16,190)(8,944)(7,094)(8,358)(4,468)
Income from continuing operations:65,82455,13444,59745,58633,71223,872
Income before gain (loss) on sale of properties:44,59745,58633,71223,872
Net income available to common stockholders, diluted:65,82455,13444,59745,58633,71223,872

Comprehensive Income ($ in thousands)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:65,82455,13444,59745,58633,71223,872
Other comprehensive income (loss)3,393(2,240)(514)1,0971,290(3,999)
Comprehensive income:69,21752,89444,08346,68335,00219,873
Other undisclosed comprehensive income (loss), net of tax, attributable to parent24027688(167)(31)124
Comprehensive income, net of tax, attributable to parent:69,45753,17044,17146,51634,97119,997

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.

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