SPS Commerce reports developments for a cloud-based retail supply chain network that connects retailers, grocers, distributors, suppliers, manufacturers and logistics firms through the SPS Commerce platform. Its news commonly covers quarterly results, recurring subscription revenue, operating leverage, share repurchases and cross-selling activity within its Supply Chain Management Solutions business.
Company updates also address product innovation for supply chain collaboration, including AI-enabled Fulfillment capabilities, Billable Overages and MAX, a set of AI capabilities embedded in existing supply chain workflows. Governance-related announcements include board refreshment, committee assignments and cooperation agreements tied to shareholder engagement.
SPS Commerce (NASDAQ: SPSC) announced the acquisition of Data Masons, enhancing its position in Fulfillment System Automation for Microsoft solutions. The deal is valued at approximately $100 million in cash. SPS expects the acquisition to contribute about $20 million in revenue and $3 million in adjusted EBITDA for fiscal 2021, with an anticipated $5 million contribution in fiscal 2022. This expansion allows Data Masons' customers access to a global network of over 90,000 trading partners in 80 countries.
Summary not available.
SPS Commerce (NASDAQ: SPSC) announced the appointment of Anne Sempowski Ward to its board of directors, bringing over 28 years of experience in retail and consumer goods. Currently the CEO of CURiO Brands, Ward has held executive positions at major companies like The Coca-Cola Company and Procter & Gamble. Her addition aims to enhance the company's strategy in the evolving retail landscape. SPS Commerce has achieved significant growth with 79 consecutive quarters of revenue increases and supports over 90,000 companies globally.
SPS Commerce (SPSC) reported its financial results for Q3 2020, marking the 79th consecutive quarter of topline growth. Revenue reached $79.6 million, up 12% year-over-year from $70.9 million in Q3 2019. Recurring revenue grew 13% compared to last year. Net income was $11.4 million ($0.31 per diluted share), an increase from $8.9 million ($0.25) in 2019. The company's guidance for Q4 expects revenue between $80.0-$80.5 million and full-year revenue of approximately $309.3-$309.8 million.
SPS Commerce, Inc. (NASDAQ: SPSC) will release its third-quarter financial results on October 28, 2020, after market close. The company will discuss the results during a conference call at 3:30 p.m. Central Time, accessible by dialing (877) 312-7508. As a leader in retail cloud services, SPS has experienced 78 consecutive quarters of revenue growth, serving over 90,000 clients globally across various sectors, including retail and e-commerce. For further details, visit their investor relations page.
SPS Commerce has launched a new automated order fulfillment service for Intuit QuickBooks, enhancing its EDI offerings. This solution is designed for omnichannel retail businesses, allowing suppliers to process orders automatically, which can lead to faster shipping times—often under an hour. The integration with Right Networks provides a seamless cloud-based environment for QuickBooks users, streamlining operations and improving efficiency. SPS Commerce has seen consistent revenue growth for 78 quarters, cementing its position in the retail networking space.
SPS Commerce reported a strong second quarter of 2020, with revenue of $75.6 million, reflecting a 10% year-over-year growth from $68.5 million in Q2 2019. Net income increased to $11.2 million or $0.31 per diluted share, up from $8.8 million or $0.24 in the prior year. The company also saw an 11% growth in recurring revenue. Adjusted EBITDA rose by 25% to $20.4 million. For Q3 2020, SPS expects revenue between $76.6 million and $77.1 million.
SPS Commerce (NASDAQ: SPSC) will release its second-quarter financial results after market close on July 30, 2020. A conference call to discuss the results is scheduled for 3:30 p.m. Central Time on the same day. Participants can join by dialing (877) 312-7508 in the U.S. or (253) 237-1184 internationally, using Conference ID # 3793818. SPS Commerce specializes in retail cloud services, connecting over 90,000 companies in retail, distribution, and e-commerce to enhance supply chain operations, with a remarkable achievement of 77 consecutive quarters of revenue growth.
SPS Commerce (NASDAQ: SPSC), a leader in retail cloud services, will present at the Stifel 2020 Virtual Cross Sector Insight Conference on June 9, 2020, at 12:40 PM E.T. The event will be accessible via a webcast on the company's investor relations website. SPS Commerce connects trading partners worldwide to enhance supply chain operations, boasting over 90,000 customers across retail and e-commerce sectors. The company has achieved 77 consecutive quarters of revenue growth and is based in Minneapolis.
SPS Commerce (Nasdaq: SPSC) has shifted its 2020 Annual Meeting of Stockholders to an online-only format, due to the COVID-19 pandemic. Scheduled for May 18, 2020, at 1:00 p.m. CT, stockholders can participate using a 16-digit control number from proxy materials. The company assures that all voting and question submission opportunities remain available. Despite the format change, stockholders are encouraged to vote in advance. SPS Commerce, a leader in retail cloud services with over 90,000 clients, continues to demonstrate strong performance with 77 consecutive quarters of revenue growth.