SPS Commerce, Inc. delivers cloud-based supply chain management solutions across the United States. Its core offering, the SPS Commerce platform, connects retailers, brands, distributors, manufacturers, and logistics providers through a unified cloud-based network.

• CEO Statement- SPS Commerce, Inc. continued expanding its retail network in late 2025, onboarding new customers and deepening integrations with existing partners, strengthening its position as a leading cloud-based supply chain connectivity platform across global trading ecosystems.

• During Q4 2025, SPS Commerce, Inc. faced moderation in its revenue recovery segment due to shifting e-commerce dynamics and retailer policy changes, highlighting increased seasonality and evolving demand patterns within its customer base.

• SPS Commerce reported fourth quarter 2025 revenue of $192.7 million, up 13% year-over-year, with strong recurring revenue growth of 14%, reflecting continued demand for its cloud-based platform and consistent expansion across its supply chain network. 

• Gross profit remained robust in Q4 2025, supported by high-margin recurring revenue streams and scalable operations, contributing to overall profitability as the company sustained efficient cost management and strong margins typical of its cloud-based business model. 

• Net income for the fourth quarter of 2025 reached $25.8 million, increasing from $17.6 million in the prior year period, demonstrating improved profitability alongside revenue growth and continued operational leverage. 

• Adjusted EBITDA increased 22% year-over-year to $60.5 million in Q4 2025, reflecting strong gross profit performance, disciplined expense control, and ongoing investment in technology and customer expansion initiatives. 

• Earnings per share for Q4 2025 came in at $1.14 on a non-GAAP basis, beating expectations, as revenue growth, expanding gross profit, and higher net income underscored SPS Commerce’s sustained financial momentum and long-term scalability.