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.
SPS Commerce, a leader in retail cloud services, has announced its participation in the JMP Securities Technology Conference on March 7, 2023, at 9:00 AM P.T. The presentation will be accessible via a webcast on the company’s investor relations website. SPS Commerce connects trading partners globally to enhance supply chain operations, utilizing innovative cloud technology and customer-focused service.
With over 115,000 clients in retail and logistics, SPS has sustained 88 consecutive quarters of revenue growth. The company is based in Minneapolis and continues to provide robust support for data-driven partnerships.
SPS Commerce reported its fourth quarter and fiscal year 2022 results, marking the 88th consecutive quarter of revenue growth. Fourth quarter revenue was $122.0 million, a 19% increase from Q4 2021, while recurring revenue rose 20%. Net income for the quarter grew to $15.9 million ($0.43 per diluted share), up 25% year-over-year.
For the full year, revenue reached $450.9 million, a 17% increase, with net income at $55.1 million ($1.49 per diluted share), reflecting 24% growth. The company expects Q1 2023 revenue between $123.3 million and $124.3 million, and 2023 revenue guidance between $523.0 million and $526.0 million, representing 16% to 17% growth.
SPS Commerce, Inc. (NASDAQ: SPSC) will release its financial results for Q4 and the year ended December 31, 2022, on February 9, 2023, after market close. A conference call to discuss these results will take place at 3:30 p.m. CT (4:30 p.m. ET) on the same day. Investors can join the call by dialing 1-833-816-1382 or 1-412-317-0475 for international access. A live webcast will be available on the company's investor relations website, and a replay will also be provided thereafter. SPS Commerce specializes in retail cloud services, boasting over 105,000 companies in its network and achieving 87 consecutive quarters of revenue growth.
SPS Commerce, a leader in retail cloud services, announced its participation in the 25th Annual Needham Growth Conference on January 11, 2023, at 11:45 AM E.T. The event will be accessible via a webcast on the company’s investor relations website. SPS Commerce connects over 105,000 companies globally to enhance supply chain operations through innovative cloud technology. The company boasts an impressive record of 87 consecutive quarters of revenue growth, underscoring its strong position in the retail sector.
Graco Inc. (NYSE:GGG) has appointed Archie C. Black to its Board of Directors, effective February 20, 2023. Black brings over two decades of experience as CEO of SPS Commerce, where he transformed the company into a successful global entity. His expertise in leveraging technology for improved business processes is expected to contribute positively to Graco. Black will also serve on the Audit Committee and the Management Organization and Compensation Committee.