Welcome to our dedicated page for Sps Commerce news (Ticker: SPSC), a resource for investors and traders seeking the latest updates and insights on Sps Commerce stock.
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.
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SPS Commerce reported a robust financial performance for Q1 2023, marking the 89th consecutive quarter of topline growth. Revenue reached $125.9 million, a 20% increase from $105.2 million in Q1 2022. Recurring revenue also grew by 20%. Net income was $15.3 million or $0.41 per diluted share, up from $12.6 million or $0.34 in the previous year. Non-GAAP income per diluted share rose to $0.67 from $0.55. Adjusted EBITDA improved 16% to $37.0 million. Looking ahead, the company expects Q2 2023 revenue between $128.0 million and $128.8 million, with net income per diluted share projected to be in the range of $0.30 to $0.31.
SPS Commerce, a leader in retail cloud services, has announced the release of its financial results for Q1 2023 on April 26, 2023, after market close. The results will be discussed in a conference call at 3:30 p.m. CT (4:30 p.m. ET) the same day. Investors can access the call by dialing 1-833-816-1382 (or 1-412-317-0475 for international callers) at least 15 minutes prior to the start time. A live webcast will also be available on their investor relations website, along with a replay afterwards. SPS Commerce has demonstrated impressive performance, showcasing 88 consecutive quarters of revenue growth, a significant achievement indicating long-term stability and success in the retail technology sector.
Archie Black Transitioning to Executive Chair
On March 2, 2023, SPS Commerce (Nasdaq: SPSC) announced that CEO Archie Black will retire, transitioning to Executive Chair after a successor is appointed. The Board has initiated the search for a new CEO to ensure leadership continuity and maintain the company’s strategy. Under Black's leadership for 22 years, SPS has grown to serve over 115,000 customers and achieved 88 consecutive quarters of revenue growth. He will assist the new CEO with strategic initiatives in his new role. The company emphasizes its commitment to consistent execution within the retail network.