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SPS Commerce SPSC Operating Income

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Other financials

Income statement

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Revenue$192.1M+5.8%
Gross profit$132.9M+6.6%
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$2.59B-38.1%
Enterprise value$2.44B-40.2%
P/E28.5×-21.9×
P/S3.4×-2.5×

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×
Current ratio2.1×+0.5×

Where this comes from

Reported directly by SPS Commerce in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: SPS Commerce’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 4:20 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001092699-26-000043
(in thousands, except per share amounts) (unaudited)Three Months Ended March 31, 2026Three Months Ended March 31, 2025
General and administrative36,37431,018
Amortization of intangible assets9,3208,588
Total operating expenses108,34598,679
Income from operations24,55925,956
Other income, net1,4052,207
Income before income taxes25,96428,163
Income tax expense6,2355,967
Net income$19,729$22,196

Item 1. Financial Statements (unaudited)

FAQ

What is SPS Commerce's operating income?
SPS Commerce (SPSC) reported operating income of $24.56M in Q1 2026.
How has SPS Commerce's operating income changed year-over-year?
SPS Commerce's operating income decreased by 5.4% year-over-year, from $25.96M to $24.56M.
What is the long-term trend for SPS Commerce's operating income?
Over 4 years (2021 to 2025), SPS Commerce's operating income has grown at a 21.1% compound annual growth rate (CAGR), from $55.09M to $118.3M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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