What is SPS Commerce's gross profit?

SPS Commerce (SPSC) reported gross profit of $132.9M in Q1 2026.

How has SPS Commerce's gross profit changed year-over-year?

SPS Commerce's gross profit increased by 6.6% year-over-year, from $124.64M to $132.9M.

What is the long-term trend for SPS Commerce's gross profit?

Over 4 years (2021 to 2025), SPS Commerce's gross profit has grown at a 19.7% compound annual growth rate (CAGR), from $253.6M to $519.88M.

What does gross profit mean?

Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

SPS Commerce SPSC Gross Profit

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Other financials

Income statement

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Revenue$192.1M+5.8%

Operating income$24.6M-5.4%

Net income$19.7M-11.1%

EPS (diluted)$0.53-8.6%

Balance sheet

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Cash & equivalents$154.3M+62.5%

Total debt$6.6M-46.0%

Total equity$962.2M+4.5%

Total assets$1.2B+4.7%

Cash flow

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Operating cash flow$55.6M+39.1%

CapEx$7.1M+16.1%

Free cash flow$48.5M+43.3%

Valuation

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Market cap$2.01B-58.8%

Enterprise value$1.86B-61.1%

P/E22.1×-37.9×

P/S2.6×-4.6×

Profitability

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Gross margin69.3%+1.6pp

Operating margin15.3%+0.5pp

Net margin11.9%-0.2pp

FCF margin21.9%+0.9pp

Returns & leverage

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Return on equity9.7%-0.5pp

Debt / equity0×0.0×

Current ratio2.1×+0.5×

Where this comes from

Calculated from SPS Commerce’s reported figures.

$192.1Mtotal revenue−$59.2Mtotal cost of revenue=$132.9M

The official record: SPS Commerce’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SPS Commerce's gross profit?: SPS Commerce (SPSC) reported gross profit of $132.9M in Q1 2026.
How has SPS Commerce's gross profit changed year-over-year?: SPS Commerce's gross profit increased by 6.6% year-over-year, from $124.64M to $132.9M.
What is the long-term trend for SPS Commerce's gross profit?: Over 4 years (2021 to 2025), SPS Commerce's gross profit has grown at a 19.7% compound annual growth rate (CAGR), from $253.6M to $519.88M.
What does gross profit mean?: Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.