What does shares withheld for net share settlement mean?

Reflects the number of shares withheld by the company to satisfy tax withholding obligations arising from the vesting of equity awards. This activity effectively reduces the net number of shares issued to employees. It provides insight into the company's management of tax obligations related to stock-based compensation.

SPS Commerce SPSC Shares withheld for net share settlement

Shares withheld for net share settlement at other companies

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$479K-20.2%

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-$666K—

First BanCorpFBP

225.1K+23.5%

Western Alliance BancorporationWAL

193.8K+59.5%

Rush Street InteractiveRSI

$90.75K-80.1%

CBIZCBZ

100K0.0%

Other financials

Income statement

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Revenue$192.1M+5.8%

Gross profit$132.9M+6.6%

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$2.04B-58.8%

Enterprise value$1.89B-61.1%

P/E22.4×-38.4×

P/S2.7×-4.7×

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

Reported directly by SPS Commerce in its filing.

Tagged under the XBRL concept spsc:ShareBasedPaymentArrangementDecreaseForSharesWithheldForNetShareSettlement.

The official record: SPS Commerce’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SPS Commerce's shares withheld for net share settlement?: SPS Commerce (SPSC) reported shares withheld for net share settlement of -$210.75K in Q4 2025.
What does shares withheld for net share settlement mean?: Reflects the number of shares withheld by the company to satisfy tax withholding obligations arising from the vesting of equity awards. This activity effectively reduces the net number of shares issued to employees. It provides insight into the company's management of tax obligations related to stock-based compensation.