Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $193M | $220M | $248M | $279M | $313M | $385M | $451M | $537M | $638M | $752M |
| Revenue growth | — | 13.9% | 12.8% | 12.4% | 12.0% | 23.2% | 17.0% | 19.1% | 18.8% | 17.8% |
| Gross profit | $129M | $146M | $166M | $187M | $213M | $254M | $298M | $355M | $427M | $520M |
| Gross margin | 66.7% | 66.5% | 67.1% | 67.0% | 68.1% | 65.8% | 66.1% | 66.1% | 67.0% | 69.2% |
| Operating income | $6.38M | $9.98M | $26.7M | $38.4M | $50.2M | $55.1M | $71.2M | $77.2M | $88.9M | $118M |
| Operating margin | 3.3% | 4.5% | 10.8% | 13.8% | 16.0% | 14.3% | 15.8% | 14.4% | 13.9% | 15.7% |
| Net income | $4.96M | $351K | $23.9M | $33.7M | $45.6M | $44.6M | $55.1M | $65.8M | $77.1M | $93.3M |
| Net margin | 2.6% | 0.2% | 9.6% | 12.1% | 14.6% | 11.6% | 12.2% | 12.3% | 12.1% | 12.4% |
| EPS (diluted) | $0.29 | $0.01 | $0.68 | $0.94 | $1.26 | $1.21 | $1.49 | $1.76 | $2.04 | $2.46 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $18.8M | $31.1M | $55.0M | $71.8M | $88.6M | $113M | $100M | $132M | $157M | $179M |
| Capital expenditures | $8.01M | $7.27M | $13.8M | $13.6M | $16.5M | $19.6M | $19.9M | $19.8M | $20.0M | $26.5M |
| Free cash flow | $10.8M | $23.8M | $41.3M | $58.2M | $72.1M | $93.3M | $80.2M | $113M | $137M | $152M |
| Share buybacks | — | $5.82M | $19.9M | $20.6M | $18.9M | $20.4M | $43.2M | $0.00 | $37.6M | $114M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $116M | $123M | $134M | $179M | $150M | $208M | $163M | $219M | $241M | $151M |
| Total assets | $298M | $340M | $386M | $447M | $526M | $616M | $673M | $824M | $1.03B | $1.17B |
| Total liabilities | $49.1M | $51.6M | $67.1M | $92.6M | $106M | $132M | $136M | $156M | $177M | $196M |
| Shareholders' equity | $258M | $288M | $319M | $355M | $421M | $484M | $537M | $667M | $855M | $974M |
| Retained earnings | -$33.7M | -$8.61M | $15.3M | $49.0M | $93.5M | $138M | $193M | $259M | $336M | $429M |
| Shares (wtd avg diluted) | 17.2M | 34.7M | 35.2M | 36.0M | 36.3M | 37.0M | 37.0M | 37.5M | 37.9M | 38.0M |
Every figure is extracted from SPS COMMERCE INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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