Can SPS Commerce cover its short-term obligations?

Its current ratio is 2.12 — current assets exceed current liabilities.

Where does SPS Commerce's balance sheet data come from?

Every line is extracted from SPS Commerce's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.

SPS Commerce SPSC Balance Sheet Statement

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Cash and cash equivalents	$151.36M-37.2%	$241.02M+10.0%	$219.08M+34.5%	$162.89M-21.5%
Accounts receivable, net	$75.3M+33.9%	$56.21M+12.1%	$50.16M+18.0%	$42.5M+9.5%
Prepaid expenses and other current assets	$66.69M+2.1%	$65.34M+4.7%	$62.4M+18.3%	$52.76M+18.5%
Total current assets	$335.3M-12.2%	$381.91M-4.9%	$401.44M+24.4%	$322.81M-8.4%
Property and equipment, net	$43.12M+14.8%	$37.55M+4.2%	$36.04M+1.6%	$35.46M+11.2%
Accumulated depreciation	$101.41M+15.6%	$87.76M+3.1%	$85.11M+17.6%	$72.36M+3.3%
Operating lease right-of-use assets	6%-819,199,994%	819,200,000%+33,000,000%	786,200,000%-130,800,000%	917,000,000%-168,100,000%
Goodwill	$541.72M+35.7%	$399.18M+60.2%	$249.18M+26.3%	$197.28M+37.3%
Intangible assets, net	$215.82M+19.0%	$181.29M+68.9%	$107.34M+21.5%	$88.35M+50.8%
Deferred tax assets	$33.2M+114%	$15.54M+73.2%	$8.97M+20.9%	$7.42M+3.8%
Other non-current assets	$7.67M+277%	$2.03M+80.6%	$1.13M-48.5%	$2.19M-27.8%
Total assets	$1.17B+13.4%	$1.03B+25.2%	$823.84M+22.4%	$672.91M+9.3%
Accounts payable	$13.76M+60.4%	$8.58M+15.6%	$7.42M-34.1%	$11.26M+35.1%
Accrued expenses	$47.58M+0.9%	$47.16M+13.4%	$41.59M+37.5%	$30.24M-4.5%
Deferred revenue	$75.59M+1.8%	$74.26M+7.3%	$69.19M+20.5%	$57.42M+13.9%
Operating lease liabilities, current	$4.35M-5.0%	$4.58M+2.8%	$4.46M+4.3%	$4.28M+4.1%
Contract liabilities	$5.29M-14.6%	$6.19M-10.7%	$6.93M+45.3%	$4.77M-7.3%
Total current liabilities	$154.35M+5.2%	$146.68M+12.3%	$130.67M+18.1%	$110.64M+7.6%
Operating lease liabilities, non-current	$2.84M-64.0%	$7.89M-17.6%	$9.57M-26.4%	$13.01M-20.8%
Operating Lease Liabilities (Total)	$7.19M-42.3%	$12.47M-11.1%	$14.03M-18.8%	$17.29M-15.8%
Other non-current liabilities	$287K+19.1%	$241K+5.2%	$229K—	$0—
Total liabilities	$195.97M+11.0%	$176.54M+12.9%	$156.37M+15.1%	$135.84M+3.2%
Preferred stock	$0—	$0—	$0—	$0—
Common stock	110M+274,900%	40K+2.6%	39K+2.6%	38K0.0%
Additional paid-in capital	$722.74M+15.1%	$627.98M+16.9%	$537.06M+12.8%	$476.12M+9.9%
Retained earnings	$429.44M+27.8%	$336.1M+29.7%	$259.05M+34.1%	$193.22M+39.9%
Accumulated other comprehensive income (loss)	-$373K+96.1%	-$9.68M-4,462%	$222K+107%	-$3.41M-136%
Treasury stock	$177.95M+78.4%	$99.75M-22.6%	$128.89M0.0%	$128.89M+50.4%
Total stockholders' equity	$973.89M+13.9%	$854.69M+28.0%	$667.48M+24.3%	$537.07M+10.9%
Total liabilities and stockholders' equity	$1.17B+13.4%	$1.03B+25.2%	$823.84M+22.4%	$672.91M+9.3%
Allowance for Doubtful Accounts	$7.13M+70.6%	$4.18M+25.9%	$3.32M+8.3%	$3.07M-27.8%
Allowance for Doubtful Accounts Receivable (Current)	$7.13M+70.6%	$4.18M+25.9%	$3.32M+8.3%	$3.07M-27.8%
Total Cash, Cash Equivalents, and Restricted Cash (Inclusive)	$151.36M-37.2%	$241.02M+10.0%	$219.08M+34.5%	$162.89M-21.5%
Other current assets	$49.09M+109%	$23.51M+40.3%	$16.76M+2.7%	$16.32M+1.7%
Deferred Tax Assets and Other Non-Current Assets	$7.67M+277%	$2.03M+80.6%	$1.13M-48.5%	$2.19M-27.8%
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)	——	——	——	——
Finite Lived Intangible Assets - Gross	$320.05M+25.4%	$255.26M+65.7%	$154.07M+27.6%	$120.71M+25.0%
Net Investment in Lease	$5.03M-38.7%	$8.19M+4.2%	$7.86M-14.3%	$9.17M-15.5%
Deferred contract costs	$20.72M+0.7%	$20.57M+1.1%	$20.35M+16.8%	$17.42M+14.7%
Deferred tax assets	$493K-2.4%	$505K0.0%	$505K+122%	$227K+24.7%
Intangible assets — net	$215.82M+19.0%	$181.29M+68.9%	$107.34M+21.5%	$88.35M+50.8%
Operating lease right-of-use assets	$5.03M-38.7%	$8.19M+4.2%	$7.86M-14.3%	$9.17M-15.5%
Other non-current assets	$7.67M+277%	$2.03M+80.6%	$1.13M-48.5%	$2.19M-27.8%
Property, plant and equipment at cost	$144.52M+15.3%	$125.3M+3.4%	$121.15M+12.4%	$107.82M+5.7%
Operating Lease Right-of-Use Assets in Other Assets	$5.03M-38.7%	$8.19M+4.2%	$7.86M-14.3%	$9.17M-15.5%
Software and Technology Licenses, Net	$7.67M+277%	$2.03M+80.6%	$1.13M-48.5%	$2.19M-27.8%
Accrued Manufacturing Costs	$47.58M+0.9%	$47.16M+13.4%	$41.59M+37.5%	$30.24M-4.5%
Accrued Progress Collections and Price Adjustments	$5.29M-14.6%	$6.19M-10.7%	$6.93M+45.3%	$4.77M-7.3%
Other Commercial Liabilities	$13.07M+8.0%	$12.11M+51.1%	$8.01M+7.6%	$7.45M-10.7%
Accrued Liabilities, Current	$13.07M+8.0%	$12.11M+51.1%	$8.01M+7.6%	$7.45M-10.7%
Compensation and benefits	$47.58M+0.9%	$47.16M+13.4%	$41.59M+37.5%	$30.24M-4.5%
Lease Liability Payments - 2020 (Remaining Three Months)	——	——	——	——
Operating Lease Liability Payments - 2024 (Lessee)	——	——	——	——
Operating Lease Liability Payments - 2025 (Lessee)	——	——	——	——
Lease Liability Payments - Due Year Two	——	——	——	——
Lease Liability Payments - Due Year Three	——	——	——	——
Lease Liability Payments - Due Year Four	——	——	——	——
Lease Liability Payments - Remainder of Fiscal Year	——	——	——	——
Operating Lease Liability Payments Due	——	——	——	——
Operating Lease Liability - Undiscounted Excess Amount	——	——	——	——
Contract Liabilities, Non-Current	$5.29M-14.6%	$6.19M-10.7%	$6.93M+45.3%	$4.77M-7.3%
Debt Maturity - 2025	——	——	——	——
Debt Maturity - 2027	——	——	——	——
Operating Lease Liability Payments - 2026 (Lessee)	——	——	——	——
Operating Lease Liability Payments - 2027 (Lessee)	——	——	——	——
Operating Lease Liability Payments - 2028 (Lessee)	——	——	——	——
Deferred revenue, net of current portion	$5.29M-14.6%	$6.19M-10.7%	$6.93M+45.3%	$4.77M-7.3%
Total debt	$7.19M-42.3%	$12.47M-11.1%	$14.03M-18.8%	$17.29M-15.8%
Common Stock Par Value Per Share	$0.000.0%	$0.000.0%	$0.000.0%	$0.000.0%
Common Stock Shares Issued	40M+1.2%	39.6M+1.6%	39M+1.7%	38.3M+1.4%
Convertible Preferred Stock Authorized Shares	5M0.0%	5M0.0%	5M0.0%	5M0.0%
Convertible Preferred Stock Issued Shares	0—	0—	0—	0—
Convertible Preferred Stock Outstanding Shares	0—	0—	0—	0—
Additional paid-in capital	$722.74M+15.1%	$627.98M+16.9%	$537.06M+12.8%	$476.12M+9.9%
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	$40K0.0%	$40K+2.6%	$39K+2.6%	$38K0.0%
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding	$0—	$0—	$0—	$0—
Preferred Stock Par Value Per Share	$0.000.0%	$0.000.0%	$0.000.0%	$0.000.0%
Share-Based Payment Award Options Outstanding - Number	261.4K-9.7%	289.4K-16.6%	346.8K-38.4%	562.7K-17.1%
Share-Based Payment - Unrecognized Cost of Nonvested Awards	——	——	——	——
Share Repurchase Authorization Limit	$100M—	——	——	——
Shares Reserved for Future Issuance Under Stock Plans	——	——	——	——
Weighted Average Exercise Price of Outstanding Options	$121.47+15.8%	$104.86+31.0%	$80.02+42.3%	$56.24+25.6%
Cumulative Cost Basis	$144.52M+15.3%	$125.3M-42.2%	$216.9M+74.3%	$124.41M-33.8%
Deferred Costs, Current and Non-Current	$87.41M+1.7%	$85.91M+3.8%	$82.75M+17.9%	$70.18M+17.5%
Allowance for doubtful accounts	$7.13M+70.6%	$4.18M+25.9%	$3.32M+8.3%	$3.07M-27.8%
Cash and cash equivalents, end of period	$151.36M-37.2%	$241.02M+10.0%	$219.08M+34.5%	$162.89M-21.5%
Common stock, par value (in dollars per share)	$00.0%	$00.0%	$00.0%	$00.0%
Common stock, shares authorized (in shares)	$110M0.0%	$110M0.0%	$110M0.0%	$110M0.0%
Common stock, shares issued (in shares)	$40.05M+1.2%	$39.59M+1.6%	$38.97M+1.7%	$38.31M+1.4%
Common Stock, Shares, Outstanding	$37.52M-0.4%	$37.66M+2.3%	$36.82M+1.8%	$36.16M+0.4%
Other contract costs	$66.69M+2.1%	$65.34M+4.7%	$62.4M+18.3%	$52.76M+18.5%
Deferred income taxes	$33.2M+114%	$15.54M+73.2%	$8.97M+20.9%	$7.42M+3.8%
Unrecognized compensation cost related to non-vested awards	——	——	——	——
Thereafter	——	——	——	——
Finite-Lived Intangible Assets, Accumulated Amortization	$107.25M+49.9%	$71.54M+49.8%	$47.77M+48.4%	$32.19M-12.1%
Foreign Currency Translation	$3.01M+225%	-$2.42M-333%	$1.04M+711%	-$170K+87.8%
2028	——	——	——	——
2030	——	——	——	——
Remainder of 2026	——	——	——	——
2027	——	——	——	——
2029	——	——	——	——
Gross Carrying Amount	$320.05M+25.4%	$255.26M+65.7%	$154.07M+27.6%	$120.71M+25.0%
Lease incentives	——	——	——	——
Operating lease, leased area	——	——	——	——
Lessee Operating Lease Liability Payments Due	——	——	——	——
Thereafter	——	——	——	——
Lessee Operating Lease Liability Undiscounted Excess Amount	——	——	——	——
Operating Lease Weighted Average Discount Rate Percent	$0.06+39.5%	$0.04+7.5%	$0.040.0%	$0.040.0%
Preferred Stock, Par or Stated Value Per Share	$00.0%	$00.0%	$00.0%	$00.0%
Preferred Stock, Shares Authorized	$5M0.0%	$5M0.0%	$5M0.0%	$5M0.0%
Preferred Stock, Shares Issued	$0—	$0—	$0—	$0—
Preferred Stock, Shares Outstanding	$0—	$0—	$0—	$0—
Purchase Obligation	——	——	——	——
Remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied	——	——	——	——
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	$261.4K-9.7%	$289.37K-16.6%	$346.82K-38.4%	$562.7K-17.1%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$121.47+15.8%	$104.86+31.0%	$80.02+42.3%	$56.24+25.6%
Incentive stock program, shares reserved for future grants (in shares)	——	——	——	——
Share repurchase program, additional authorized amount	——	——	——	——
Share Repurchase Program, Authorized, Amount	$100M—	——	——	——
Treasury stock, shares (in shares)	$2.53M+31.2%	$1.93M-10.3%	$2.15M0.0%	$2.15M+20.2%
Purchase Commitments - Due Next Year	——	——	——	——
Purchase Obligation	——	——	——	——
Remainder of Fiscal Year 2024	——	——	——	——
Remainder of Fiscal Year 2025	——	——	——	——
Unrecorded Unconditional Purchase Obligation	——	——	——	——

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Questions, answered.

Can SPS Commerce cover its short-term obligations?: Its current ratio is 2.12 — current assets exceed current liabilities.
Where does SPS Commerce's balance sheet data come from?: Every line is extracted from SPS Commerce's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.