SPS COMMERCE INC

For the period ended Dec 31, 2025. Filed Feb 19, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 19, 2026

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 exhibits

Contents

Consolidated Statements of Comprehensive Income

	Year Ended December 31,
(in thousands, except per share amounts)	2025	2024	2023
Revenues	$751,505	$637,765	$536,910
Cost of revenues	231,629	210,714	182,069
Gross profit	519,876	427,051	354,841
Operating expenses
Sales and marketing	169,130	148,920	122,936
Research and development	68,680	62,809	53,654
General and administrative	126,594	102,929	84,887
Amortization of intangible assets	37,169	23,510	16,116
Total operating expenses	401,573	338,168	277,593
Income from operations	118,303	88,883	77,248
Other income, net	5,532	10,593	8,315
Income before income taxes	123,835	99,476	85,563
Income tax expense	30,496	22,422	19,739
Net income	$93,339	$77,054	$65,824
Other comprehensive income (expense)
Foreign currency translation adjustments	9,310	(9,384)	3,393
Unrealized gain on investments, net of tax of $—, $363, and $644, respectively	—	1,089	1,932
Reclassification of gain on investments into earnings, net of tax of $—, $(537), and $(564), respectively	—	(1,610)	(1,692)
Total other comprehensive income (expense)	9,310	(9,905)	3,633
Comprehensive income	$102,649	$67,149	$69,457
Net income per share
Basic	$2.46	$2.07	$1.80
Diluted	$2.46	$2.04	$1.76
Weighted average common shares used to compute net income per share
Basic	37,881	37,306	36,646
Diluted	37,992	37,856	37,475

ContentsView on SEC.gov

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