SPS COMMERCE INC
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
View on SEC.govAbout 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 exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2023 |
| Cash flows from operating activities | |||
| Net income | $93,339 | $77,054 | $65,824 |
| Reconciliation of net income to net cash provided by operating activities | |||
| Deferred income taxes | 18,909 | (9,786) | (10,079) |
| Depreciation and amortization of property and equipment | 21,089 | 18,721 | 18,631 |
| Amortization of intangible assets | 37,169 | 23,510 | 16,116 |
| Provision for credit losses | 9,918 | 7,683 | 5,707 |
| Stock-based compensation | 53,728 | 54,557 | 45,508 |
| Other, net | (1,087) | 577 | 2,415 |
| Changes in assets and liabilities, net of effects of acquisitions | |||
| Accounts receivable | (20,297) | (9,653) | (11,949) |
| Deferred costs | 157 | (3,120) | (10,724) |
| Other assets and liabilities | (28,686) | (7,313) | 1,834 |
| Accounts payable | 4,715 | 796 | (3,947) |
| Accrued compensation | (3,721) | 1,434 | 7,143 |
| Accrued expenses | (3,568) | 4,115 | 1,302 |
| Deferred revenue | (787) | 728 | 6,464 |
| Operating leases | (2,088) | (1,905) | (1,947) |
| Net cash provided by operating activities | 178,790 | 157,398 | 132,298 |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (26,524) | (20,046) | (19,761) |
| Purchases of investments | — | (85,759) | (133,994) |
| Maturities of investments | — | 143,275 | 131,331 |
| Acquisition of business, net | (142,628) | (147,924) | (70,218) |
| Net cash used in investing activities | (169,152) | (110,454) | (92,642) |
| Cash flows from financing activities | |||
| Repurchases of common stock | (114,277) | (37,567) | — |
| Net proceeds from exercise of options to purchase common stock | 3,861 | 4,714 | 9,856 |
| Net proceeds from employee stock purchase plan activity | 9,584 | 9,827 | 8,114 |
| Payments for contingent consideration | — | — | (2,000) |
| Net cash provided by (used in) financing activities | (100,832) | (23,026) | 15,970 |
| Effect of foreign currency exchange rate changes | 1,532 | (1,982) | 562 |
| Net increase (decrease) in cash and cash equivalents | (89,662) | 21,936 | 56,188 |
| Cash and cash equivalents at beginning of period | 241,017 | 219,081 | 162,893 |
| Cash and cash equivalents at end of period | $151,355 | $241,017 | $219,081 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for income taxes | $28,892 | $27,097 | $29,207 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.