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SPS Commerce SPSC Variable Lease Cost

Variable Lease Cost at other companies

International Business Machines logo
International Business MachinesIBM
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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$2.01B-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

Reported directly by SPS Commerce in its filing.

Tagged under the XBRL concept us-gaap:VariableLeaseCost.

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 variable lease cost?
SPS Commerce (SPSC) reported variable lease cost of $895K in Q1 2026.
How has SPS Commerce's variable lease cost changed year-over-year?
SPS Commerce's variable lease cost increased by 1.5% year-over-year, from $882K to $895K.
What is the long-term trend for SPS Commerce's variable lease cost?
Over 4 years (2021 to 2025), SPS Commerce's variable lease cost has grown at a -6.8% compound annual growth rate (CAGR), from $3.66M to $2.77M.
What does variable lease cost mean?
Includes lease payments that are not fixed in nature but vary based on an index, rate, or usage-based criteria. This metric helps distinguish between fixed contractual obligations and operational costs that fluctuate with business activity levels. It provides transparency into the flexibility of the company's cost structure regarding real estate or equipment leases.