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, Inc. (Nasdaq: SPSC) is a prominent leader in cloud-based supply chain management solutions. Headquartered in Minneapolis, SPS Commerce perfects the power of trading partner relationships through its industry-leading retail cloud services platform. The company provides proven integrations and comprehensive retail performance analytics, serving thousands of customers worldwide, from retailers and grocers to distributors, suppliers, and logistics firms.
SPS Commerce's core offerings include Fulfillment, Analytics, Assortment, and Community, along with professional services, testing, and certification. These solutions collectively enhance supply chain performance, optimize inventory levels, improve order visibility, and reduce operational costs, while ensuring a seamless omnichannel experience for consumers.
With a track record of 93 consecutive quarters of revenue growth, SPS Commerce is not only a robust and reliable partner but also a significant player in the retail supply chain landscape. Recent achievements include the pending acquisition of TIE Kinetix, furthering their market reach and capabilities. Financial highlights for the second quarter of 2023 underscored ongoing investments across the retail industry, presenting tremendous opportunities for SPS to expand its competitive edge.
SPS Commerce is the world's largest retail network, connecting over 120,000 companies across retail, grocery, distribution, supply, and logistics sectors. This extensive network supports data-driven partnerships with innovative cloud technology, customer-obsessed service, and accessible expertise, enabling customers to focus on their core business operations while benefiting from optimized supply chain efficiency.
For more information, please contact SPS Commerce at 866-245-8100 or visit www.spscommerce.com.
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.
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