SPS COMMERCE INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
SPSC$80.92-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands, except per share amounts) | 2023 | 2022 | 2021 |
| Revenues | $536,910 | $450,875 | $385,276 |
| Cost of revenues | 182,069 | 153,065 | 131,678 |
| Gross profit | 354,841 | 297,810 | 253,598 |
| Operating expenses | |||
| Sales and marketing | 122,936 | 101,772 | 88,044 |
| Research and development | 53,654 | 45,748 | 39,038 |
| General and administrative | 84,887 | 67,340 | 61,305 |
| Amortization of intangible assets | 16,116 | 11,768 | 10,126 |
| Total operating expenses | 277,593 | 226,628 | 198,513 |
| Income from operations | 77,248 | 71,182 | 55,085 |
| Other income (expense), net | 8,315 | 142 | (1,544) |
| Income before income taxes | 85,563 | 71,324 | 53,541 |
| Income tax expense | 19,739 | 16,190 | 8,944 |
| Net income | $65,824 | $55,134 | $44,597 |
| Other comprehensive income (expense) | |||
| Foreign currency translation adjustments | 3,393 | (2,240) | (514) |
| Unrealized gain (loss) on investments, net of tax of $644, $147, and $(34), respectively | 1,932 | 441 | (102) |
| Reclassification of (gain) loss on investments into earnings, net of tax of $(564), $(55), and $63, respectively | (1,692) | (165) | 190 |
| Total other comprehensive income (expense) | 3,633 | (1,964) | (426) |
| Comprehensive income | $69,457 | $53,170 | $44,171 |
| Net income per share | |||
| Basic | $1.80 | $1.53 | $1.24 |
| Diluted | $1.76 | $1.49 | $1.21 |
| Weighted average common shares used to compute net income per share | |||
| Basic | 36,646 | 36,117 | 35,928 |
| Diluted | 37,475 | 36,953 | 36,962 |
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