SPS Commerce Inc（SPSC）の財務SPSCSPS Commerce Inc

SPS Commerce, Inc. (SPSC) generates its revenue through a diversified portfolio of business segments. Currently, the largest contributor to its top-line growth is Fulfillment, accounting for 85.9% of total sales, equivalent to $169.98M. Other significant revenue streams include Analytics and One-time revenues. Understanding this composition is critical for investors evaluating how SPSC navigates market cycles within the Software industry.

Evaluating the bottom line, SPS Commerce, Inc. maintains a gross margin of 64.88%. This metric reflects the company's pricing power and manufacturing efficiency. Further down the income statement, the operating margin stands at 16.11%, while the net margin is 6.82%. These profitability ratios, combined with a Return on Equity (ROE) of 8.26%, provide a clear picture of how effectively SPSC converts its operational activities into shareholder value.

In the context of the broader market, SPSC competes directly with industry leaders such as AGYS and AVPT. With a market capitalization of $3.07B, it holds a significant position in the sector. When comparing efficiency, SPSC's gross margin of 64.88% stands against AGYS's 60.91% and AVPT's 73.10%. Such benchmarking helps identify whether SPS Commerce, Inc. is trading at a premium or discount relative to its financial performance.

SPS Commerce has shown fluctuating financial performance, with Q2 2026 net income dropping to $6.86 million and a net margin of only 3.47%. The gross margin remains strong at 65.42%, but the revenue growth has decelerated, indicating potential challenges ahead.