Seco d qua te 2026 eve ue a d Adjusted EBITDA exceed high e d of guida ce a ge Compa y p ovides updated full yea 2026 guida ce followi g ece tly completed divestitu e
MINNEAPOLIS, July 30, 2026 (GLOBE NEWSWIRE) — SPS Comme ce, I c. (NASDAQ: SPSC), the leadi g i tellige t supply chai etwo k, today a ou ced fi a cial esults fo the seco d qua te e ded Ju e 30, 2026.
- Reve ue was $197.8 millio i the seco d qua te of 2026, compa ed to $187.4 millio i the seco d qua te of 2025, eflecti g 6% g owth.
- Recu i g eve ue g ew 6% f om the seco d qua te of 2025.
- Net i come was $6.9 millio o $0.19 pe diluted sha e, compa ed to et i come of $19.7 millio o $0.52 pe diluted sha e i the seco d qua te of 2025.
- No -GAAP i come was $46.4 millio o $1.27 pe diluted sha e, compa ed to o -GAAP i come of $38.0 millio o $1.00 pe diluted sha e i the seco d qua te of 2025.
- Adjusted EBITDA fo the seco d qua te of 2026 i c eased 19% to $66.6 millio compa ed to the seco d qua te of 2025.
- Sha e epu chases i the seco d qua te of 2026 totaled $51.2 millio .
“SPS Comme ce is executi g its g owth a d i ovatio oadmap. MAX, ou age tic capabilities embedded withi SPS’ supply chai etwo k, has al eady delive ed ta gible value to beta use s, equati g to hu d eds of thousa ds of dolla s i savi gs to i dividual custome s i just a matte of th ee mo ths. We a e excited about MAX’s lau ch to all SPS Fulfillme t custome s late this summe ,” said Chad Colli s, CEO of SPS Comme ce. “No othe compa y ca match the u ique combi atio of AI capabilities, 25 yea s of p op ieta y data, deep domai expe tise, a d expa sive etwo k access to d ive this ki d of ta gible value, collabo atio , a d ope atio al efficie cies that SPS offe s today.”
“Solid seco d-qua te pe fo ma ce eflects up-sell a d c oss-sell mome tum ac oss ou co e busi ess,” said Joe Del P eto, CFO of SPS Comme ce. “We co ti ue to demo st ate ope atio al igo , exceedi g ou ma gi expa sio goals while simulta eously olli g out ou AI st ategy ac oss the SPS etwo k.”
As a esult of the divestitu e of the 3P Reve ue Recove y busi ess o Ju e 30, 2026, guida ce facto s i a eductio of app oximately $10.5 millio i eve ue to the seco d half of 2026. The divestitu e is expected to be eut al to Adjusted EBITDA i the seco d half of 2026.
- Reve ue is expected to be i the a ge of $196.3 millio to $198.3 millio .
- Net i come pe diluted sha e is expected to be i the a ge of $0.72 to $0.76, with fully diluted weighted ave age sha es outsta di g of 36.8 millio sha es.
- No -GAAP i come pe diluted sha e is expected to be i the a ge of $1.20 to $1.23.
- Adjusted EBITDA is expected to be i the a ge of $67.4 millio to $69.4 millio .
- No -cash, sha e-based compe satio expe se is expected to be $16.4 millio , dep eciatio expe se is expected to be $5.4 millio , a d amo tizatio expe se is expected to be $8.5 millio .
- Reve ue is expected to be i the a ge of $788.4 millio to $793.4 millio , ep ese ti g 5% to 6% g owth ove 2025.
- Net i come pe diluted sha e is expected to be i the a ge of $2.24 to $2.33, with fully diluted weighted ave age sha es outsta di g of 36.9 millio sha es.
- No -GAAP i come pe diluted sha e is expected to be i the a ge of $4.84 to $4.93.
- Adjusted EBITDA is expected to be i the a ge of $264.6 millio to $269.1 millio , eflecti g a Adjusted EBITDA ma gi of 34% at the midpoi t, a i c ease of app oximately 300 basis poi ts compa ed to full yea 2025.
- No -cash, sha e-based compe satio expe se is expected to be $69.8 millio , dep eciatio expe se is expected to be $23.4 millio , a d amo tizatio expe se is expected to be $35.6 millio .
The fo wa d-looki g measu es a d the u de lyi g assumptio s i volve sig ifica t k ow a d u k ow isks a d u ce tai ties, a d actual esults may va y mate ially. The Compa y does ot p ese t a eco ciliatio of the fo wa d-looki g o -GAAP fi a cial measu es, i cludi g Adjusted EBITDA, Adjusted EBITDA ma gi , a d o -GAAP i come pe sha e, to the most di ectly compa able GAAP fi a cial measu es because it is imp actical to fo ecast ce tai items without u easo able effo ts due to the u ce tai ty a d i he e t difficulty of p edicti g, withi a easo able a ge, the occu e ce a d fi a cial impact of a d the pe iods i which such items may be ecog ized.
SPS COMMERCE, SPS, SPS logo a d INFINITE RETAIL POWER a e ma ks of SPS Comme ce, I c. a d egiste ed i the U.S. Pate t a d T adema k Office, alo g with othe SPS ma ks. Such ma ks may also be egiste ed o othe wise p otected i othe cou t ies.
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To suppleme t ou co de sed co solidated fi a cial stateme ts, we p ovide i vesto s with Adjusted EBITDA, Adjusted EBITDA Ma gi , a d o -GAAP i come pe sha e, all of which a e o -GAAP fi a cial measu es. We believe that these o -GAAP fi a cial measu es p ovide useful i fo matio to ou ma ageme t, Boa d of Di ecto s, a d i vesto s ega di g ce tai fi a cial a d busi ess t e ds elati g to ou fi a cial co ditio a d esults of ope atio s.
Ou ma ageme t uses these o -GAAP fi a cial measu es to compa e ou pe fo ma ce to that of p io pe iods fo t e d a alyses a d pla i g pu poses. Adjusted EBITDA is also used fo pu poses of dete mi i g executive a d se io ma ageme t i ce tive compe satio . We believe these o -GAAP fi a cial measu es a e useful to a i vesto as they a e widely used i evaluati g ope ati g pe fo ma ce. Adjusted EBITDA a d Adjusted EBITDA Ma gi a e used to measu e ope ati g pe fo ma ce without ega d to items such as dep eciatio a d amo tizatio , which ca va y depe di g upo accou ti g methods a d the book value of assets, a d to p ese t a mea i gful measu e of co po ate pe fo ma ce exclusive of capital st uctu e a d the method by which assets we e acqui ed.
These o -GAAP fi a cial measu es should ot be co side ed a substitute fo , o supe io to, fi a cial measu es calculated i acco da ce with GAAP. These o -GAAP fi a cial measu es exclude sig ifica t expe ses a d i come that a e equi ed by GAAP to be eco ded i ou co de sed co solidated fi a cial stateme ts a d a e subject to i he e t limitatio s. I vesto s should eview the eco ciliatio s of o -GAAP fi a cial measu es to the compa able GAAP fi a cial measu es that a e i cluded i this p ess elease.
Adjusted EBITDA co sists of et i come adjusted fo i come tax expe se, dep eciatio a d amo tizatio expe se, stock-based compe satio expe se, ealized gai f om i vestme ts a d fo eig cu e cy t a sactio s, i vestme t i come, loss o sale of busi ess, a d othe adjustme ts as ecessa y fo a fai p ese tatio . Othe adjustme ts fo the th ee a d six mo ths e ded Ju e 30, 2026, i cluded the expe se impact f om disposals of othe equipme t, emeasu eme t of a acqui ed ea -out liability, a d o e-time divestitu e exit a d disposal costs. Net i come is the most di ectly compa able GAAP measu e of fi a cial pe fo ma ce.
Adjusted EBITDA Ma gi co sists of Adjusted EBITDA divided by eve ue. Ma gi , the compa able GAAP measu e of fi a cial pe fo ma ce, co sists of et i come divided by eve ue.
No -GAAP i come pe sha e co sists of et i come adjusted fo stock-based compe satio expe se, amo tizatio expe se elated to i ta gible assets, ealized gai f om i vestme ts a d fo eig cu e cy t a sactio s, loss o sale of busi ess, a d othe adjustme ts as ecessa y fo a fai p ese tatio , i cludi g fo the th ee a d six mo ths e ded Ju e 30, 2026, the expe se impact f om disposals of othe equipme t, emeasu eme t of a acqui ed ea -out liability, a d o e-time divestitu e exit a d disposal costs, a d the co espo di g tax impacts of the adjustme ts to et i come, divided by the weighted ave age umbe of sha es of commo a d diluted stock outsta di g du i g each pe iod. Net i come pe sha e, the most di ectly compa able GAAP measu e of fi a cial pe fo ma ce, co sists of et i come divided by the weighted ave age umbe of sha es of commo a d diluted stock outsta di g du i g each pe iod. To qua tify the tax effects, we ecalculated i come tax expe se excludi g the di ect book a d tax effects of the specific items co stituti g the o -GAAP adjustme ts. The diffe e ce betwee this ecalculated i come tax expe se a d GAAP i come tax expe se is p ese ted as the i come tax effect of the o -GAAP adjustme ts.
This p ess elease may co tai fo wa d-looki g stateme ts, i cludi g i fo matio about ma ageme t’s view of SPS Comme ce’s futu e expectatio s, pla s a d p ospects, i cludi g ou views ega di g futu e executio withi ou busi ess, the oppo tu ity we see i the etail supply chai wo ld a d ou pe fo ma ce fo the thi d qua te a d full yea of 2026, withi the safe ha bo p ovisio s u de The P ivate Secu ities Litigatio Refo m Act of 1995. These stateme ts i volve k ow a d u k ow isks, u ce tai ties a d othe facto s which may cause the esults of SPS Comme ce to be mate ially diffe e t tha those exp essed o implied i such stateme ts. Ce tai of these isk facto s a d othe s a e i cluded i docume ts SPS Comme ce files with the Secu ities a d Excha ge Commissio , i cludi g but ot limited to, SPS Comme ce’s A ual Repo t o Fo m 10-K fo the yea e ded Decembe 31, 2025, as well as subseque t epo ts filed with the Secu ities a d Excha ge Commissio . Othe u k ow o u p edictable facto s also could have mate ial adve se effects o SPS Comme ce’s futu e esults. The fo wa d-looki g stateme ts i cluded i this p ess elease a e made o ly as of the date he eof. SPS Comme ce ca ot gua a tee futu e esults, levels of activity, pe fo ma ce o achieveme ts. Acco di gly, you should ot place u due elia ce o these fo wa d-looki g stateme ts. Fi ally, SPS Comme ce exp essly disclaims a y i te t o obligatio to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts, o othe wise.
| Cu e t assets | Cash a d cash equivale ts | $ | 173,167 | $ | 151,355 | Accou ts eceivable | 71,681 | 75,295 | Allowa ce fo c edit losses | (7,994 | ) | (7,129 | ) | Accou ts eceivable, et | 63,687 | 68,166 | Defe ed costs | 64,001 | 66,693 | Othe assets | 29,541 | 49,090 | Total cu e t assets | 330,396 | 335,304 | P ope ty a d equipme t, et | 44,142 | 43,117 | Ope ati g lease ight-of-use assets | 4,985 | 5,025 | Goodwill | 539,411 | 541,719 | I ta gible assets, et | 172,446 | 215,815 | Othe assets | Defe ed costs, o -cu e t | 20,296 | 20,719 | Defe ed i come tax assets | 514 | 493 | Othe assets, o -cu e t | 13,239 | 7,667 | Total assets | $ | 1,125,429 | $ | 1,169,859 | Cu e t liabilities | Accou ts payable | $ | 9,484 | $ | 13,757 | Acc ued compe satio | 39,470 | 47,577 | Acc ued expe ses | 14,901 | 13,074 | Defe ed eve ue | 80,867 | 75,590 | Ope ati g lease liabilities | 1,540 | 4,353 | Total cu e t liabilities | 146,262 | 154,351 | Othe liabilities | Defe ed eve ue, o -cu e t | 4,720 | 5,288 | Ope ati g lease liabilities, o -cu e t | 4,766 | 2,839 | Defe ed i come tax liabilities | 30,928 | 33,201 | Othe liabilities, o -cu e t | 271 | 287 | Total liabilities | 186,947 | 195,966 | Commitme ts a d co ti ge cies | Stockholde s’ equity | Commo stock | 40 | 40 | T easu y stock | (276,922 | ) | (177,949 | ) | Additio al paid-i capital | 763,354 | 722,737 | Retai ed ea i gs | 456,031 | 429,438 | Accumulated othe comp ehe sive loss | (4,021 | ) | (373 | ) | Total stockholde s’ equity | 938,482 | 973,893 | Total liabilities a d stockholde s’ equity | $ | 1,125,429 | $ | 1,169,859 |
| Reve ues | $ | 197,815 | $ | 187,400 | $ | 389,936 | $ | 368,949 | Cost of eve ues | 59,028 | 59,826 | 118,245 | 116,740 | G oss p ofit | 138,787 | 127,574 | 271,691 | 252,209 | Ope ati g expe ses | Sales a d ma keti g | 43,936 | 43,434 | 88,670 | 85,068 | Resea ch a d developme t | 16,957 | 17,271 | 34,874 | 34,710 | Ge e al a d admi ist ative | 36,646 | 30,890 | 73,020 | 61,908 | Amo tizatio of i ta gible assets | 9,381 | 9,509 | 18,701 | 18,097 | Loss o sale of busi ess | 23,454 | — | 23,454 | — | Total ope ati g expe ses | 130,374 | 101,104 | 238,719 | 199,783 | I come f om ope atio s | 8,413 | 26,470 | 32,972 | 52,426 | Othe i come, et | 1,997 | 773 | 3,402 | 2,980 | I come befo e i come taxes | 10,410 | 27,243 | 36,374 | 55,406 | I come tax expe se | 3,546 | 7,510 | 9,781 | 13,477 | Net i come | $ | 6,864 | $ | 19,733 | $ | 26,593 | $ | 41,929 | Net i come pe sha e | Basic | $ | 0.19 | $ | 0.52 | $ | 0.72 | $ | 1.10 | Diluted | $ | 0.19 | $ | 0.52 | $ | 0.72 | $ | 1.10 | Weighted ave age commo sha es used to compute et i come pe sha e | Basic | 36,533 | 37,965 | 36,953 | 37,978 | Diluted | 36,577 | 38,099 | 37,026 | 38,132 |
| Cash flows f om ope ati g activities | Net i come | $ | 26,593 | $ | 41,929 | Reco ciliatio of et i come to et cash p ovided by ope ati g activities | Defe ed i come taxes | (4,412 | ) | (5,914 | ) | Dep eciatio a d amo tizatio of p ope ty a d equipme t | 11,984 | 9,948 | Amo tizatio of i ta gible assets | 18,701 | 18,097 | P ovisio fo c edit losses | 4,621 | 4,111 | Stock-based compe satio | 36,769 | 28,865 | Loss o sale of busi ess | 23,454 | — | Othe , et | (1,445 | ) | 274 | Cha ges i assets a d liabilities, et of effects of acquisitio s | Accou ts eceivable | (2,139 | ) | (13,713 | ) | Defe ed costs | 2,797 | (412 | ) | Othe assets a d liabilities | 11,871 | (2,258 | ) | Accou ts payable | (3,236 | ) | 2,082 | Acc ued compe satio | (9,551 | ) | (11,006 | ) | Acc ued expe ses | 1,419 | (1,833 | ) | Defe ed eve ue | 5,087 | 3,012 | Ope ati g leases | (854 | ) | (876 | ) | Net cash p ovided by ope ati g activities | 121,659 | 72,306 | Cash flows f om i vesti g activities | Pu chases of p ope ty a d equipme t | (15,738 | ) | (12,815 | ) | P oceeds f om sale, et | 8,768 | — | Acquisitio of busi ess, et | — | (142,628 | ) | Net cash used i i vesti g activities | (6,970 | ) | (155,443 | ) | Cash flows f om fi a ci g activities | Repu chases of commo stock | (98,358 | ) | (59,558 | ) | Net p oceeds f om exe cise of optio s to pu chase commo stock | 866 | 2,406 | Net p oceeds f om employee stock pu chase pla activity | 4,321 | 5,426 | Net cash used i fi a ci g activities | (93,171 | ) | (51,726 | ) | Effect of fo eig cu e cy excha ge ate cha ges | 294 | 1,449 | Net i c ease (dec ease) i cash a d cash equivale ts | 21,812 | (133,414 | ) | Cash a d cash equivale ts at begi i g of pe iod | 151,355 | 241,017 | Cash a d cash equivale ts at e d of pe iod | $ | 173,167 | $ | 107,603 |
| Net i come | $ | 6,864 | $ | 19,733 | $ | 26,593 | $ | 41,929 | I come tax expe se | 3,546 | 7,510 | 9,781 | 13,477 | Dep eciatio a d amo tizatio of p ope ty a d equipme t | 6,150 | 4,991 | 11,984 | 9,948 | Amo tizatio of i ta gible assets | 9,381 | 9,509 | 18,701 | 18,097 | Stock-based compe satio expe se | 18,696 | 14,998 | 36,769 | 28,865 | Realized gai f om i vestme ts a d fo eig cu e cy t a sactio s | (402 | ) | (107 | ) | (522 | ) | (473 | ) | I vestme t i come | (1,211 | ) | (688 | ) | (2,362 | ) | (2,537 | ) | Loss o sale of busi ess | 23,454 | — | 23,454 | — | Othe | 154 | 106 | 165 | 1,119 | Adjusted EBITDA | $ | 66,632 | $ | 56,052 | $ | 124,563 | $ | 110,425 |
| Reve ue | $ | 197,815 | $ | 187,400 | $ | 389,936 | $ | 368,949 | Net i come | 6,864 | 19,733 | 26,593 | 41,929 | Ma gi | 3 | % | 11 | % | 7 | % | 11 | % | Adjusted EBITDA | 66,632 | 56,052 | 124,563 | 110,425 | Adjusted EBITDA Ma gi | 34 | % | 30 | % | 32 | % | 30 | % |
| Net i come | $ | 6,864 | $ | 19,733 | $ | 26,593 | $ | 41,929 | Stock-based compe satio expe se | 18,696 | 14,998 | 36,769 | 28,865 | Amo tizatio of i ta gible assets | 9,381 | 9,509 | 18,701 | 18,097 | Realized gai f om i vestme ts a d fo eig cu e cy t a sactio s | (402 | ) | (107 | ) | (522 | ) | (473 | ) | Loss o sale of busi ess | 23,454 | — | 23,454 | — | Othe | 154 | 106 | 165 | 1,119 | I come tax effects of adjustme ts | (11,770 | ) | (6,285 | ) | (17,649 | ) | (13,570 | ) | No -GAAP i come | $ | 46,377 | $ | 37,954 | $ | 87,511 | $ | 75,967 | Sha es used to compute et i come a d o -GAAP i come pe sha e | Basic | 36,533 | 37,965 | 36,953 | 37,978 | Diluted | 36,577 | 38,099 | 37,026 | 38,132 | Net i come pe sha e, basic | $ | 0.19 | $ | 0.52 | $ | 0.72 | $ | 1.10 | No -GAAP adjustme ts to et i come pe sha e, basic | 1.08 | 0.48 | 1.65 | 0.90 | No -GAAP i come pe sha e, basic | $ | 1.27 | $ | 1.00 | $ | 2.37 | $ | 2.00 | Net i come pe sha e, diluted | $ | 0.19 | $ | 0.52 | $ | 0.72 | $ | 1.10 | No -GAAP adjustme ts to et i come pe sha e, diluted | 1.08 | 0.48 | 1.65 | 0.89 | No -GAAP i come pe sha e, diluted | $ | 1.27 | $ | 1.00 | $ | 2.36 | $ | 1.99 |
The a ual pe sha e amou ts may ot c oss-sum due to ou di g.
Co tact:I vesto Relatio sThe Blueshi t G oupI mi a BlaszczykSPSC@blueshi tg oup.com
