SPS Commerce, Inc. (SPSC) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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SPSC Revenue Growth
SPSC Revenue Analysis (2014–2025)
As of May 8, 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.
Looking at the longer-term picture, SPSC's 5-year compound annual growth rate (CAGR) stands at +19.2%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $751.5 million in 2025, representing a new all-time high.
When 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 terms of 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 (2014–2025)
| 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% |
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Start ComparisonSPSC — Frequently Asked Questions
Quick answers to the most common questions about buying SPSC stock.
Is SPSC's revenue growth accelerating or slowing?
SPSC maintains +5.8% revenue growth, in line with its 5-year CAGR of +19.2%. TTM revenue stands at $762M. Growth rate remains consistent with historical average.
What is SPSC's long-term revenue growth rate?
SPS Commerce, Inc.'s 5-year revenue CAGR of +19.2% reflects the sustained expansion pattern. Current YoY growth of +5.8% is near this long-term average.
How is SPSC's revenue distributed by segment?
SPSC reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.