SPS Commerce, Inc. (SPSC) financial statements (2022 and earlier)

Company profile

Business Address 333 SOUTH SEVENTH STREET
MINNEAPOLIS, MN 55402
State of Incorp. DE
Fiscal Year End December 31
SIC 7372 - Prepackaged Software (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments257,310187,478213,536178,396163,319138,953
Cash and cash equivalents207,552149,692179,252133,859123,127115,877
Short-term investments49,75837,78634,28444,53740,19223,076
Receivables34,56233,57831,53227,48824,89720,746
Deferred costs44,52937,98835,27434,50225,09119,224
Other current assets16,04212,31211,2799,2296,1497,010
Total current assets:352,443271,356291,621249,615219,456185,933
Noncurrent Assets
Operating lease, right-of-use asset10,85115,58115,744
Property, plant and equipment31,90126,43223,75220,95716,85615,314
Long-term investments and receivables 2,500  5,2067,494
Long-term investments 2,500  5,2067,494
Intangible assets, net (including goodwill)202,250195,08399,51392,39968,14269,565
Goodwill143,663134,85376,84569,65851,61349,777
Intangible assets, net (excluding goodwill)58,58760,23022,66822,74116,52919,788
Deferred costs15,19112,60711,66710,9736,7706,086
Deferred income tax assets1821941,437
Other noncurrent assets3,0282,7052,5131,7231,5391,527
Other undisclosed noncurrent assets  1,19310,45617,55112,446
Total noncurrent assets:263,403255,102155,819136,508116,064112,432
TOTAL ASSETS:615,846526,458447,440386,123335,520298,365
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities48,33639,38732,78429,41325,06119,550
Accounts payable8,3305,3544,2744,4404,4632,302
Accrued liabilities8,34511,1616,2074,5584,7123,508
Employee-related liabilities31,66122,87222,30320,41515,88613,740
Deferred revenue50,42837,94731,463
Debt  3,783   
Deferred rent credit   1,781
Deferred revenue and credits18,08612,611
Contract with customer, liability25,328
Other undisclosed current liabilities4,1082,798    
Total current liabilities:102,87280,13268,03056,52243,14732,161
Noncurrent Liabilities
Long-term debt and lease obligation16,42619,67220,085   
Operating lease, liability16,42619,67220,085
Liabilities, other than long-term debt12,2895,9333,25610,62715,55316,937
Deferred revenue and credits13,66615,026
Deferred revenue5,1442,9962,851
Contract with customer, liability2,512
Deferred rent credit   5,371
Deferred tax liabilities, net1,3761,8871,911
Deferred income tax liabilities7,1452,937 
Other liabilities  4051,368  
Other undisclosed noncurrent liabilities  1,193   
Total noncurrent liabilities:28,71525,60524,53410,62715,55316,937
Total liabilities:131,587105,73792,56467,14958,70049,098
Stockholders' equity
Stockholders' equity attributable to parent484,259420,721354,876318,974276,820249,267
Common stock383736181717
Treasury stock, value(85,677)(65,247)(46,297)(25,679)(5,815) 
Additional paid in capital433,258393,462354,115332,592301,863286,315
Accumulated other comprehensive income (loss)(1,447)(1,021)(1,951)(3,218)657(3,326)
Retained earnings (accumulated deficit)138,08793,49048,97315,261(19,902)(33,739)
Total stockholders' equity:484,259420,721354,876318,974276,820249,267
TOTAL LIABILITIES AND EQUITY:615,846526,458447,440386,123335,520298,365

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues385,276312,630279,124248,240220,566193,295
Cost of revenue(131,678)(99,836)(92,239)(81,748)(73,625)(64,346)
Gross profit:253,598212,794186,885166,492146,941128,949
Operating expenses(198,513)(162,636)(148,479)(139,761)(138,513)(121,432)
Operating income:55,08550,15838,40626,7318,4287,517
Nonoperating income (expense)(1,544)2,5223,6641,6097121,333
Investment income, nonoperating278     
Foreign currency transaction loss, before tax(1,456)     
Other nonoperating income (expense)(366)1,334272(720)(320)732
Income from continuing operations before income taxes:53,54152,68042,07028,3409,1408,850
Income tax expense(8,944)(7,094)(8,358)(4,468)(11,580)(3,140)
Net income (loss) available to common stockholders, diluted:44,59745,58633,71223,872(2,440)5,710

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):44,59745,58633,71223,872(2,440)5,710
Other comprehensive income (loss)(514)1,0971,290(3,999)3,944 
Comprehensive income:44,08346,68335,00219,8731,5045,710
Other undisclosed comprehensive income (loss), net of tax, attributable to parent88(167)(31)12439 
Comprehensive income, net of tax, attributable to parent:44,17146,51634,97119,9971,5435,710

Statements sources

The financial statements are based on the company's filings with the 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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