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SPS Commerce (SPSC)

SPS Commerce is the world's leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. The company supports data-driven partnerships with innovative cloud technology, customer-obsessed service and accessible experts so its customers can focus on what they do best. To date, more than 95,000 companies in retail, distribution, grocery and e-commerce have chosen SPS as their retail network. SPS has achieved 80 consecutive quarters of revenue growth and is headquartered in Minneapolis.

Company profile

Ticker
SPSC
Exchange
CEO
Archie Black
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
SPS Commerce Australia Pty Ltd • SPS Commerce Canada, Ltd. • SPS Commerce Hong Kong Limited • SPS Commerce Netherlands B.V. • SPS Europe Limited • SPS International, Inc. • SPS Ukraine LLC • D Masons Software, LLC • Genius Central Systems, Inc. ...
IRS number
411593154

SPSC stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

27 Jul 22
2 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Aug 22 Sven Wehrwein Common Stock Sell Dispose S No No 132.99 1,000 132.99K 17,684
15 Aug 22 Sven Wehrwein Common Stock Option exercise Acquire M No No 51.8 1,000 51.8K 18,684
15 Aug 22 Sven Wehrwein Stock Option Common Stock Option exercise Dispose M No No 51.8 1,000 51.8K 1,732
5 Aug 22 Reaume Marty M Common Stock Sell Dispose S No No 131.25 3,593 471.58K 6,680
5 Aug 22 Reaume Marty M Common Stock Sell Dispose S No No 130.6885 1,973 257.85K 10,273
5 Aug 22 Reaume Marty M Common Stock Sell Dispose S No No 129.3493 1,756 227.14K 12,246
5 Aug 22 Reaume Marty M Common Stock Sell Dispose S No No 128.2577 1,611 206.62K 14,002
5 Aug 22 Reaume Marty M Common Stock Sell Dispose S No No 127.3735 889 113.24K 15,613
5 Aug 22 Reaume Marty M Common Stock Option exercise Acquire M No No 35.79 9,822 351.53K 16,502
5 Aug 22 Reaume Marty M Stock Option Common Stock Option exercise Dispose M No No 35.79 9,822 351.53K 0
13F holders Current Prev Q Change
Total holders 305 321 -5.0%
Opened positions 33 41 -19.5%
Closed positions 49 45 +8.9%
Increased positions 105 117 -10.3%
Reduced positions 122 115 +6.1%
13F shares Current Prev Q Change
Total value 4B 4.62B -13.3%
Total shares 35.45M 35.21M +0.7%
Total puts 2K 0 NEW
Total calls 4.6K 19.6K -76.5%
Total put/call ratio 0.4
Largest owners Shares Value Change
BLK Blackrock 5.73M $647.4M -0.2%
Vanguard 3.98M $449.4M +0.4%
ATAC Neuberger Berman 2.03M $229.73M -2.1%
Conestoga Capital Advisors 1.82M $205.7M -0.7%
STT State Street 1.22M $137.59M +1.6%
Fred Alger Management 1.16M $131.57M -9.6%
Kayne Anderson Rudnick Investment Management 1.16M $131.25M -5.1%
Congress Asset Management 955.27K $107.99M -5.5%
Riverbridge Partners 926.44K $104.73M -4.6%
Granahan Investment Management 889.02K $100.5M -7.1%
Largest transactions Shares Bought/sold Change
APG Asset Management 599.85K +599.85K NEW
Eaton Vance Management 415.3K +288.87K +228.5%
Parametric Portfolio Associates 0 -176.3K EXIT
MS Morgan Stanley 324.49K +152.41K +88.6%
MNGPF Man 0 -133.74K EXIT
Fred Alger Management 1.16M -123.69K -9.6%
MCQEF Macquarie 120.89K +119.65K +9625.8%
WFC Wells Fargo & Co. 151.22K -114.09K -43.0%
SEIC SEI Investments 107.23K +83.66K +355.0%
Millennium Management 98.78K +79.37K +408.8%

Financial report summary

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Competition
Open Text
Risks
  • If we are unable to attract new customers, or sell additional products to existing customers, or if our customers do not increase their use of our products, our revenue growth and profitability will be adversely affected.
  • We do not have long-term contracts with most of our recurring revenue customers, and therefore a lack of success in maintaining or improving forecasted renewal rates will have adverse effects on revenue and financial results.
  • Economic weakness and uncertainty could adversely affect our revenue, lengthen our sales cycles, and make it more difficult for us to forecast operating results accurately.
  • If we fail to attract, retain, and train members of our senior management team, including our Chief Executive Officer and other key personnel, our business plan would be impacted, and we might not be able to implement our plan successfully.
  • The market for cloud-based supply chain management products is at a relatively early stage of development and acceptance. If this market does not develop or develops more slowly than we expect, our revenues may decline or fail to grow and we may incur operating losses.
  • We may not be able to successfully integrate or otherwise operate newly acquired companies or businesses, which could adversely affect our financial results.
  • Any new products and changes to existing products we pursue could fail to attract or retain customers or generate expected revenues.
  • Our business is dependent on our ability to maintain and scale our technical infrastructure, and any failure to effectively maintain or scale such infrastructure could damage our reputation, result in a potential loss of revenue, and adversely affect our financial results.
  • Our inability to adapt to rapid technological change could impair our ability to remain competitive.
  • We rely on third-party infrastructure, software and services that could take a significant time, and involve a complex transition, to replace or upgrade.
  • Interruptions or delays from third-party data centers or to the telecommunications infrastructure we use or rely on could impair the delivery of our products and our business could suffer.
  • A failure to protect the integrity and security of our customers’ information and prevent cyber-attacks, could materially damage our reputation, expose us to claims and litigation, and lead to service disruptions and harm our business. Additionally, the growing costs to avoid or reduce the risks of such a failure could adversely affect our results of operations.
  • We may experience service failures or interruptions due to defects in the hardware, software, infrastructure, third-party components or processes that comprise our existing or new products, any of which could adversely affect our business.
  • If open source, or other no-cost products and services, expand into enterprise application and supply chain software or products, our prices, revenues, and operating results may decline.
  • The use of open source software in our products may expose us to additional risks and harm our intellectual property.
  • If we fail to protect our intellectual property and proprietary rights adequately, our business could suffer material adverse effects.
  • Privacy concerns and laws, evolving regulation of cloud computing, cross-border data transfer restrictions and other domestic or foreign regulations may limit the use and adoption of our products and adversely affect our business.
  • Evolving regulation of the internet may increase our expenditures related to compliance efforts, which may adversely affect our financial condition.
  • Industry-specific regulation is evolving, and unfavorable or burdensome industry-specific laws, regulations or interpretive positions could harm our business.
  • Our results of operations may fluctuate in the future, which could result in volatility in our stock price.
  • Our charter documents and Delaware law may delay, discourage, or inhibit a takeover that stockholders consider favorable.
  • We do not intend to declare dividends on our stock in the foreseeable future.
  • Our failure to raise additional capital or generate cash flows necessary to expand our operations and invest in new technologies could reduce our ability to compete successfully and adversely affect our results of operations.
  • Unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our operating results and financial condition.
Management Discussion
  • Revenues - Revenues increased for the 86th consecutive quarter. The increase in revenue resulted from two primary factors: the increase in recurring revenue customers, which is driven primarily by continued business growth and by business acquisitions, and the increase in average recurring revenues per recurring revenue customer, which we also refer to as wallet share.
  • •The number of recurring revenue customers increased 12% to 38,650 at June 30, 2022 from 34,550 at June 30, 2021 primarily due to sales and marketing efforts to acquire new customers and due to recent acquisitions.
  • •Wallet share increased 4% to $10,550 for the three months ended June 30, 2022 from $10,150 for the same period in 2021. This was primarily attributable to increased usage of our products by our recurring revenue customers.

Content analysis

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