SPS Commerce, Inc. (SPSC) Revenue History
Annual and quarterly revenue from 2007 to present
SPSC Revenue Over Time (2007–2025)
SPSC Revenue Growth History
18 of 18 years with positive growth- FY2007 revenue growth
- N/A
- FY2008 revenue growth
- +21.8%
- FY2009 revenue growth
- +23.0%
- FY2010 revenue growth
- +18.2%
- FY2011 revenue growth
- +30.0%
- FY2012 revenue growth
- +33.0%
- FY2013 revenue growth
- +35.4%
- FY2014 revenue growth
- +22.6%
- FY2015 revenue growth
- +23.9%
- FY2016 revenue growth
- +21.9%
- FY2017 revenue growth
- +14.1%
- FY2018 revenue growth
- +12.5%
- FY2019 revenue growth
- +12.4%
- FY2020 revenue growth
- +12.0%
- FY2021 revenue growth
- +23.2%
- FY2022 revenue growth
- +17.0%
- FY2023 revenue growth
- +19.1%
- FY2024 revenue growth
- +18.8%
- FY2025 revenue growth
- +17.8%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $192.1M | +5.8% |
| Q4 2025 | $192.7M | +12.7% |
| Q3 2025 | $189.9M | +16.0% |
| Q2 2025 | $187.4M | +22.0% |
| Q1 2025 | $181.5M | +21.4% |
| Q4 2024 | $170.9M | +17.9% |
| Q3 2024 | $163.7M | +20.7% |
| Q2 2024 | $153.6M | +17.8% |
Multi-year avg. share of annual revenue by fiscal quarter
SPSC Revenue Analysis (2007–2025)
Current Revenue & Growth
As of June 22, 2026, SPS Commerce, Inc. (SPSC) generated trailing twelve-month (TTM) revenue of $762.1 million, reflecting solid growth of +5.8% year-over-year. The most recent quarter (Q1 2026) recorded $192.1 million in revenue, down 0.3% sequentially.
Historical Growth Trajectory
SPSC's 5-year compound annual growth rate (CAGR) stands at +19.2%, indicating consistent double-digit revenue growth. The 3-year CAGR of +18.6% is below the 5-year average, signalling a growth deceleration in recent years. SPS Commerce, Inc.'s highest annual revenue of $751.5 million was recorded in 2025, an all-time high.
Peer Comparison
Compared to Technology sector peers — including GDDY (+7.8% YoY), CWAN (+73.5% YoY), and ALKT (+32.7% YoY) — SPSC has underperformed the peer group in revenue growth. Compare SPSC vs GDDY →
SPSC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SPSCCurrent | $762M | +5.8% | +19.2% | 15.7% | |
 GDDY | $5.0B | +7.8% | +8.3% | 22.9% | |
 CWAN | $731M | +73.5% | +29.2% | 3.8% | |
 ALKT | $444M | +32.7% | +31.7% | -12.1% | |
 APPF | $951M | +20.7% | +25.1% | 16.1% | |
 PCTY | $1.6B | +14.7% | +23.2% | 19.1% |
SPSC Historical Revenue Data (2007–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $751.5M | +17.8% | $482.7M | 64.2% | $118.3M | 15.7% |
| 2024 | $637.8M | +18.8% | $427.1M | 67.0% | $88.9M | 13.9% |
| 2023 | $536.9M | +19.1% | $354.8M | 66.1% | $77.2M | 14.4% |
| 2022 | $450.9M | +17.0% | $297.8M | 66.1% | $71.2M | 15.8% |
| 2021 | $385.3M | +23.2% | $253.6M | 65.8% | $55.1M | 14.3% |
| 2020 | $312.6M | +12.0% | $212.8M | 68.1% | $50.2M | 16.0% |
| 2019 | $279.1M | +12.4% | $186.9M | 67.0% | $38.4M | 13.8% |
| 2018 | $248.2M | +12.5% | $166.5M | 67.1% | $26.7M | 10.8% |
| 2017 | $220.6M | +14.1% | $146.9M | 66.6% | $8.4M | 3.8% |
| 2016 | $193.3M | +21.9% | $128.9M | 66.7% | $7.5M | 3.9% |
| 2015 | $158.5M | +23.9% | $108.5M | 68.4% | $7.0M | 4.4% |
| 2014 | $127.9M | +22.6% | $88.0M | 68.7% | $4.4M | 3.4% |
| 2013 | $104.4M | +35.4% | $72.6M | 69.6% | $1.8M | 1.7% |
| 2012 | $77.1M | +33.0% | $55.1M | 71.4% | $1.6M | 2.0% |
| 2011 | $58.0M | +30.0% | $42.6M | 73.5% | $1.1M | 2.0% |
Intrinsic Valuation
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Historical Returns
19+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
SPSC — Frequently Asked Questions
Quick answers to the most common questions about buying SPSC stock.
Is SPSC's revenue growth accelerating or slowing?
SPSC revenue growth is holding steady at +5.8% year-over-year. TTM revenue is $762M. The current growth rate closely tracks the 5-year CAGR of +19.2%, signalling consistent execution.
What is SPSC's revenue history from 2007 to 2026?
SPS Commerce, Inc. (SPSC) revenue history spans 2007 to 2026. TTM revenue as of 2026 is $762M, growing at +5.8% YoY. The 5-year CAGR is +19.2%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SPSC's long-term revenue growth rate (CAGR)?
SPS Commerce, Inc.'s 5-year revenue CAGR of +19.2% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +5.8% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SPSC.
Why does SPSC's quarterly revenue fluctuate?
SPSC quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. SPS Commerce, Inc.'s revenue data from 2007 to 2026 shows full historical quarterly detail on this page.
How is SPSC's revenue distributed by segment?
SPSC reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SPSC's revenue compare to industry peers?
SPS Commerce, Inc. (SPSC) with TTM revenue of $762M and +5.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.