The financials
SPS Commerce, Inc. by the numbers
SPS Commerce, Inc. (SPSC) reported revenue of $192M in Q1 2026 (quarter ended March 31, 2026), up 5.8% from the same quarter a year earlier. That came with a gross margin of 69% and net income of $20M (10% of revenue). For the full year FY2025, revenue was $752M (+18% year on year) and net income $93M. Its largest product in 2026-Q1 was Fulfillment at $164M, 89% of the disclosed total, just ahead of Analytics at 7.7%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $192M | $182M | +5.8% |
| Gross profit | $133M | $125M | +6.6% |
| Operating income | $25M | $26M | −5.4% |
| Net income | $20M | $22M | −11% |
| Diluted EPS | $0.53 | $0.58 | −8.6% |
| Product | Revenue | Share |
|---|---|---|
| Fulfillment | $164M | 89% |
| Analytics | $14M | 7.7% |
| Other | $6.1M | 3.3% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $184.5M (+1.4%)
Fulfillment grew +7.7% year on yearOther +1.4% year on year
Segment Latestquarter on quarteryear on year
- Fulfillment$164.3M$164.3MQoQ +1.5%year on year +7.7%+1.5%+7.7%
- Analytics$14.1M$14.1MQoQ -0.07%year on year +3.1%-0.07%+3.1%
- Other$6.1M$6.1MQoQ +1.1%year on year +1.4%+1.1%+1.4%
Software - Application
Ranks #56 of 90 by Smart Score