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SPS Commerce SPSC Q3 2025 earnings

Reported October 30, 2025 · After market close

Revenue$189.9MMiss by $3.7M
EPS$1.13Beat by $0.14
Revenue estimate$193.6M
EPS estimate$0.99

Next report

Oct 29, 2026 (in a month)
Revenue estimate$197.5M
EPS estimate$1.22

Financials

Q3 2025

Income statement

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Revenue$189.9M+16.0%
Gross profit$132.0M+17.8%
Operating income$31.2M+22.0%
Net income$25.6M+9.0%
EPS (diluted)$0.67+8.1%

Balance sheet

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Cash & equivalents$133.7M-32.7%
Total debt$9.6M-26.8%
Total equity$958.9M+15.6%
Total assets$1.2B+15.5%

Cash flow

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Operating cash flow$60.6M+13.7%
CapEx$6.1M+15.6%
Free cash flow$54.6M+13.4%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$3.95B-45.2%
Enterprise value$3.82B-45.5%
P/E46.4×-45.3×
P/S5.4×-6.4×

Profitability

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Gross margin68.4%+1.8pp
Operating margin14.8%+0.6pp
Net margin11.7%-1.2pp
FCF margin20.3%-1.2pp

Returns & leverage

See full
Return on equity9.5%-1.3pp
Debt / equity0×0.0×
Current ratio2×-0.4×

Segments

By product

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Fulfillment$161.8M+19.6%
Analytics$14.1M+2.2%
Other$6.0M+12.8%

FAQ

When did SPS Commerce report Q3 2025 earnings?
SPS Commerce (SPSC) reported Q3 2025 earnings on October 30, 2025 after market close.
What were SPS Commerce's Q3 2025 revenue and EPS?
SPS Commerce reported revenue of $189.9M and eps of $1.13 for Q3 2025.
Did SPS Commerce beat estimates in Q3 2025?
Revenue missed the consensus estimate of $193.6M by $3.7M. EPS beat the consensus estimate of $0.99 by $0.14.
How did SPS Commerce's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 16.0% from $163.7M a year earlier and eps grew 22.8% from $0.92.
Where can I find SPS Commerce's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001092699-25-000062) and the 10-Q periodic report (0001092699-25-000064) directly on SEC EDGAR. The filing index links above go to sec.gov.