SPS COMMERCE INC

For the period ended Sep 30, 2025. Filed Oct 30, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 30, 2025

SPSC$81.04-1.1%Stored close · as of Nov 9, 2026

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Contents

Condensed Consolidated Balance Sheets

(in thousands, except shares)	September 30,2025	December 31,2024
ASSETS · (unaudited)
Current assets
Cash and cash equivalents	$133,725	$241,017
Accounts receivable	73,339	56,214
Allowance for credit losses	(5,900)	(4,179)
Accounts receivable, net	67,439	52,035
Deferred costs	66,510	65,342
Other assets	47,947	23,513
Total current assets	315,621	381,907
Property and equipment, net	41,448	37,547
Operating lease right-of-use assets	6,723	8,192
Goodwill	543,035	399,180
Intangible assets, net	225,262	181,294
Other assets
Deferred costs, non-current	20,769	20,572
Deferred income tax assets	463	505
Other assets, non-current	5,359	2,033
Total assets	$1,158,680	$1,031,230
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$12,745	$8,577
Accrued compensation	51,795	47,160
Accrued expenses	12,318	12,108
Deferred revenue	77,566	74,256
Operating lease liabilities	5,623	4,583
Total current liabilities	160,047	146,684
Other liabilities
Deferred revenue, non-current	5,150	6,189
Operating lease liabilities, non-current	4,021	7,885
Deferred income tax liabilities	30,223	15,541
Other liabilities, non-current	299	241
Total liabilities	199,740	176,540
Commitments and contingencies (Note I)
Stockholders' equity
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding	—	—
Common stock, $0.001 par value; 110,000,000 shares authorized; 39,969,060 and 39,590,276 shares issued; and 37,732,760 and 37,661,308 shares outstanding, respectively	40	40
Treasury stock, at cost; 2,236,300 and 1,928,968 shares, respectively	(152,096)	(99,748)
Additional paid-in capital	708,318	627,982
Retained earnings	403,597	336,099
Accumulated other comprehensive loss	(919)	(9,683)
Total stockholders’ equity	958,940	854,690
Total liabilities and stockholders’ equity	$1,158,680	$1,031,230

SPS COMMERCE, INC.	3	Form 10-Q for the Quarterly Period ended September 30, 2025

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.