{"id":520339,"date":"2021-07-29T16:12:39","date_gmt":"2021-07-29T20:12:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/"},"modified":"2021-07-29T16:12:39","modified_gmt":"2021-07-29T20:12:39","slug":"sps-commerce-reports-second-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/","title":{"rendered":"SPS Commerce Reports Second Quarter 2021 Financial Results"},"content":{"rendered":"

\nCompany delivers 82nd consecutive quarter of topline growth with 25% growth in revenue and 22% growth in recurring revenue over second quarter 2020
\n<\/h2>\n
\n

MINNEAPOLIS, July 29, 2021 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (Nasdaq: SPSC), a leader in retail cloud services, today announced financial results for the second quarter ended June 30, 2021.<\/p>\n

Revenue was $94.5 million in the second quarter of 2021, compared to $75.6 million in the second quarter of 2020, reflecting 25% growth in revenue from the second quarter of 2020. Recurring revenue grew 22% from the second quarter of 2020.<\/p>\n

Net income in the second quarter of 2021 was $10.2 million or $0.28 per diluted share, compared to net income of $11.2 million or $0.31 per diluted share, in the second quarter of 2020. Non-GAAP net income per diluted share was $0.46, compared to non-GAAP net income per diluted share of $0.37 in the second quarter of 2020. Adjusted EBITDA for the second quarter of 2021 increased 34% to $27.3 million compared to the second quarter of 2020.<\/p>\n

\u201cSPS Fulfillment is a proven tool that unlocks digital transformation potential for trading partners across all industries,\u201d said Archie Black, President and CEO of SPS Commerce. \u201cOmnichannel retail continues to fuel demand for SPS\u2019 solutions, while growing our addressable market. This is a very exciting time for SPS Commerce.\u201d\u00a0\u00a0<\/p>\n

\u201cSPS Commerce continues to deliver strong results driven by accelerating demand for our fulfillment solution, as retailers and suppliers adapt to new norms of consumers\u2019 shopping preferences,\u201d said Kim Nelson, CFO of SPS Commerce.<\/p>\n

\n Guidance<\/strong>\n <\/p>\n

Third quarter 2021 revenue is expected to be in the range of $96.7 million to $97.5 million. Third quarter net income per diluted share is expected to be in the range of $0.21 to $0.23 with fully diluted weighted average shares outstanding of approximately 37.0 million shares. Non-GAAP net income per diluted share is expected to be in the range of $0.40 to $0.41. Adjusted EBITDA is expected to be in the range of $25.3 million to $26.0 million. Non-cash, share-based compensation expense is expected to be approximately $7.0 million, depreciation expense is expected to be approximately $4.0 million and amortization expense is expected to be approximately $2.7 million.<\/p>\n

For the full year of 2021, revenue is expected to be in the range of $380.6 million to $382.1 million, representing 22% growth over 2020. Full year net income per diluted share is expected to be in the range of $1.01 to $1.03, with fully diluted weighted average shares outstanding of approximately 36.9 million shares. Non-GAAP income per diluted share is expected to be in the range of $1.68 to $1.71. Adjusted EBITDA is expected to be in the range of $104.0 to $105.3 million, representing 20% to 21% growth over 2020. Non-cash, share-based compensation expense is expected to be approximately $27.6 million, depreciation expense is expected to be approximately $15.6 million and amortization expense is expected to be approximately $10.5 million.<\/p>\n

\n Quarterly Conference Call<\/strong>\n <\/p>\n

SPS Commerce will discuss its quarterly and annual results today via teleconference at 3:30 p.m. CT (4:30 p.m. ET). To access the call, please dial (877) 312-7508, or outside the U.S. (253) 237-1184, with Conference ID #7578057 at least five minutes prior to the 3:30 p.m. CT start time. A live webcast of the call will also be available at http:\/\/investors.spscommerce.com<\/a> under the Events and Presentations menu. The replay will also be available on our website at http:\/\/investors.spscommerce.com<\/a>.<\/p>\n

\n About SPS Commerce<\/strong>\n <\/p>\n

SPS Commerce is the world\u2019s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service and accessible experts so our 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 82 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com.<\/p>\n

SPS COMMERCE, SPS, SPS logo, 1=INFINITY logo, AS THE NETWORK GROWS, SO DOES YOUR OPPORTUNITY, INFINITE RETAIL POWER, MASTERING THE RETAIL GAME and RSX are marks of\u00a0SPS Commerce, Inc.\u00a0and Registered in the\u00a0U.S. Patent and Trademark Office. IN:FLUENCE, and others are further marks of\u00a0SPS Commerce, Inc.\u00a0These marks may be registered or otherwise protected in other countries.\u00a0<\/p>\n

SPS-F<\/p>\n

\n Use of Non-GAAP Financial Measures<\/strong>\n <\/p>\n

To supplement its financial statements,\u00a0SPS Commerce\u00a0also provides investors with Adjusted EBITDA, Adjusted EBITDA Margin, and non-GAAP net income per share, which are non-GAAP financial measures.\u00a0SPS Commerce\u00a0believes that these non-GAAP measures provide useful information to management, our board of directors, and investors regarding certain financial and business trends relating to its financial condition and results of operations.\u00a0SPS Commerce’s\u00a0management uses these non-GAAP measures to compare the company’s performance to that of prior periods for trend analyses and planning purposes. Adjusted EBITDA is also used for purposes of determining executive and senior management incentive compensation.<\/p>\n

Adjusted EBITDA consists of net income adjusted for depreciation and amortization expense, investment income or loss, realized gain or loss from foreign currency on cash and investments held, income tax expense, stock-based compensation expense, and other adjustments as necessary for a fair presentation.\u00a0<\/p>\n

Adjusted EBITDA Margin consists of Adjusted EBITDA divided by revenue. Margin, the comparable GAAP measure of financial performance, consists of net income divided by revenue.<\/p>\n

SPS Commerce\u00a0uses Adjusted EBITDA and Adjusted EBITDA Margin as measures of operating performance because they assist the company in comparing performance on a consistent basis, as they remove from operating results the impact of the company’s capital structure.\u00a0SPS Commerce\u00a0believes Adjusted EBITDA and Adjusted EBITDA Margin are useful to an investor in evaluating the company’s operating performance because they are widely used to measure a company’s operating performance without regard to items such as depreciation and amortization, which can vary depending upon accounting methods and the book value of assets, and to present a meaningful measure of corporate performance exclusive of the company’s capital structure and the method by which assets were acquired.<\/p>\n

Non-GAAP income per share consists of net income adjusted for stock-based compensation expense, amortization expense related to intangible assets, realized gain or loss from foreign currency on cash and investments held, and other adjustments as necessary for a fair presentation, divided by the weighted average number of shares of common stock outstanding during each period.\u00a0SPS Commerce\u00a0believes non-GAAP income per share is useful to an investor because it is widely used to measure a company’s operating performance.<\/p>\n

SPS Commerce\u00a0includes an adjustment to non-GAAP income to reflect the income tax effects of the adjustments to GAAP net income, as discussed above.\u00a0To quantify these tax effects,\u00a0SPS Commerce\u00a0recalculates income tax expense excluding the direct book and tax effects of the specific items constituting the non-GAAP adjustments (e.g., stock-based compensation expense). The difference between this recalculated income tax expense and GAAP income tax expense is presented as the income tax effect of the non-GAAP adjustments.<\/p>\n

These non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with generally accepted accounting principles in\u00a0the United States. These non-GAAP financial measures exclude significant expenses and income that are required by GAAP to be recorded in the company’s financial statements and are subject to inherent limitations.\u00a0SPS Commerce\u00a0urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures that are included in this press release.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

This press release may contain forward-looking statements, including information about management’s view of\u00a0SPS Commerce’s\u00a0future expectations, plans and prospects, including our views regarding future execution within our business, the opportunity we see in the retail supply chain world and our performance for the third quarter and full year of 2021, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of\u00a0SPS Commerce\u00a0to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are included in documents\u00a0SPS Commerce\u00a0files with the\u00a0Securities and Exchange Commission, including but not limited to,\u00a0SPS Commerce’s\u00a0Annual Report on Form 10-K for the year ended\u00a0December 31, 2020, as well as subsequent reports filed with the\u00a0Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on\u00a0SPS Commerce’s\u00a0future results. The forward-looking statements included in this press release are made only as of the date hereof.\u00a0SPS Commerce\u00a0cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally,\u00a0SPS Commerce\u00a0expressly disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n SPS COMMERCE, INC.<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n CONDENSED CONSOLIDATED BALANCE SHEETS<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
(Unaudited; in thousands, except shares)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n June\u00a030,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n December\u00a031,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
CURRENT ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n\u00a0<\/td>\n$<\/td>\n184,367<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n149,692<\/td>\n\u00a0<\/td>\n<\/tr>\n
Short-term investments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48,999<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,786<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42,191<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,811<\/td>\n\u00a0<\/td>\n<\/tr>\n
Allowance for credit losses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,255<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,233<\/td>\n)<\/td>\n<\/tr>\n
Accounts receivable, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,936<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33,578<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred costs<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,149<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,988<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,711<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,312<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n323,162<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n271,356<\/td>\n\u00a0<\/td>\n<\/tr>\n
PROPERTY AND EQUIPMENT, less accumulated depreciation of $67,074 and $59,152, respectively<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,046<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,432<\/td>\n\u00a0<\/td>\n<\/tr>\n
OPERATING LEASE RIGHT-OF-USE ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,352<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,581<\/td>\n\u00a0<\/td>\n<\/tr>\n
GOODWILL<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n135,354<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134,853<\/td>\n\u00a0<\/td>\n<\/tr>\n
INTANGIBLE ASSETS, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54,950<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60,230<\/td>\n\u00a0<\/td>\n<\/tr>\n
INVESTMENTS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,500<\/td>\n\u00a0<\/td>\n<\/tr>\n
OTHER ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred costs, non-current<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,692<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,607<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income tax assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n246<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n194<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets, non-current<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,476<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,705<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0<\/td>\n$<\/td>\n572,278<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n526,458<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
CURRENT LIABILITIES<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n\u00a0<\/td>\n$<\/td>\n5,942<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n5,354<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,469<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,872<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,161<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48,845<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,947<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,960<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,798<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n91,437<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80,132<\/td>\n\u00a0<\/td>\n<\/tr>\n
OTHER LIABILITIES<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred revenue, non-current<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,991<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,996<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liabilities, non-current<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,733<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,672<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income tax liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,368<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,937<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n117,529<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n105,737<\/td>\n\u00a0<\/td>\n<\/tr>\n
COMMITMENTS and CONTINGENCIES<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
STOCKHOLDERS\u2019 EQUITY<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock, $0.001 par value; 110,000,000 shares authorized; 37,536,118 and 37,100,467 shares issued; and 35,859,353 and 35,487,217 outstanding, respectively<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37<\/td>\n\u00a0<\/td>\n<\/tr>\n
Treasury stock, at cost; 1,676,765 and 1,613,250 shares, respectively<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(71,697<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(65,247<\/td>\n)<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n413,182<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n393,462<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retained earnings<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n113,873<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n93,490<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated other comprehensive loss<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(647<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,021<\/td>\n)<\/td>\n<\/tr>\n
Total stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n454,749<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n420,721<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n$<\/td>\n572,278<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n526,458<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n SPS COMMERCE, INC.<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n CONDENSED CONSOLIDATED STATEMENTS OF INCOME<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
(Unaudited; in thousands, except per share amounts)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Six Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n June\u00a030,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n June\u00a030,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n94,539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n75,573<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n184,633<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n149,765<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of revenues<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,730<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,326<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n61,700<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47,870<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62,809<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n51,247<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122,933<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n101,895<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Sales and marketing<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,952<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,611<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n43,307<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,910<\/td>\n\u00a0<\/td>\n<\/tr>\n
Research and development<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,899<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,466<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,605<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,034<\/td>\n\u00a0<\/td>\n<\/tr>\n
General and administrative<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,758<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,743<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,495<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,652<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,671<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,316<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,335<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,652<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total operating expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49,280<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,136<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96,742<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79,248<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income from operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,529<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,111<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,191<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,647<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income (expense), net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(383<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,468<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(708<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n795<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income before income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,146<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,579<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,483<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,442<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,963<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,385<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,100<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,733<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n$<\/td>\n10,183<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,194<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,383<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,709<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income per share<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n$<\/td>\n0.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.32<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.59<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n$<\/td>\n0.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.55<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.58<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average common shares used to compute net income per share<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,903<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,030<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,828<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,051<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,753<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,016<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,741<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,995<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Per share amounts may not foot due to rounding.<\/em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n SPS COMMERCE, INC.<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
(Unaudited; in thousands)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Six Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n June\u00a030,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash flows from operating activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n$<\/td>\n20,383<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,709<\/td>\n\u00a0<\/td>\n<\/tr>\n
Reconciliation of net income to net cash provided by operating activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n351<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,443<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in earn-out liability<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n72<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and amortization of property and equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,276<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,335<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,652<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for credit losses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,831<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,020<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,424<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,353<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n170<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(129<\/td>\n)<\/td>\n<\/tr>\n
Changes in assets and liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,945<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,071<\/td>\n)<\/td>\n<\/tr>\n
Deferred costs<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,338<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n275<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other current and non-current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,201<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,141<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(147<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n321<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,246<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,166<\/td>\n)<\/td>\n<\/tr>\n
Accrued expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,087<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(964<\/td>\n)<\/td>\n<\/tr>\n
Deferred revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,893<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,705<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating leases<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,449<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(842<\/td>\n)<\/td>\n<\/tr>\n
Net cash provided by operating activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54,658<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,795<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash flows from investing activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Purchases of property and equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8,738<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8,396<\/td>\n)<\/td>\n<\/tr>\n
Purchases of investments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(44,034<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(55,144<\/td>\n)<\/td>\n<\/tr>\n
Maturities of investments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,050<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash used in investing activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(17,772<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(32,490<\/td>\n)<\/td>\n<\/tr>\n
Cash flows from financing activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Repurchases of common stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,450<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(18,950<\/td>\n)<\/td>\n<\/tr>\n
Net proceeds from exercise of options to purchase common stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,030<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,426<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net proceeds from employee stock purchase plan<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,186<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,550<\/td>\n\u00a0<\/td>\n<\/tr>\n
Payments for contingent consideration<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,042<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(688<\/td>\n)<\/td>\n<\/tr>\n
Net cash used in financing activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,276<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8,662<\/td>\n)<\/td>\n<\/tr>\n
Effect of foreign currency exchange rate changes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n65<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(45<\/td>\n)<\/td>\n<\/tr>\n
Net increase (decrease) in cash and cash equivalents<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,402<\/td>\n)<\/td>\n<\/tr>\n
Cash and cash equivalents at beginning of period<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149,692<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179,252<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents at end of period<\/td>\n\u00a0<\/td>\n$<\/td>\n184,367<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n174,850<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n SPS COMMERCE, INC.<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n NON-GAAP RECONCILIATION<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
(Unaudited; in thousands, except per share amounts)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Six Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n June\u00a030,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n June\u00a030,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n$<\/td>\n10,183<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,194<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,383<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,709<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and amortization of property<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
and equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,529<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,138<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,276<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,671<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,316<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,335<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,652<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(79<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(332<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(176<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(972<\/td>\n)<\/td>\n<\/tr>\n
Realized (gain) loss from foreign currency on cash and investments held<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n349<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,370<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n638<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(127<\/td>\n)<\/td>\n<\/tr>\n
Income tax expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,963<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,385<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,100<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,733<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,499<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,009<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,424<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,353<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n213<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(213<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA<\/td>\n\u00a0<\/td>\n$<\/td>\n27,328<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,422<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n52,785<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n40,778<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA Margin<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n$<\/td>\n10,183<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,194<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,383<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,709<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n94,539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,573<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n184,633<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149,765<\/td>\n\u00a0<\/td>\n<\/tr>\n
Margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA<\/td>\n\u00a0<\/td>\n$<\/td>\n27,328<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,422<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n52,785<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n40,778<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n94,539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,573<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n184,633<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149,765<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA Margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP Income<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n$<\/td>\n10,183<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,194<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,383<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,709<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,499<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,009<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,424<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,353<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,671<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,316<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,335<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,652<\/td>\n\u00a0<\/td>\n<\/tr>\n
Realized (gain) loss from foreign currency on cash and investments held<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n349<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,370<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n638<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(127<\/td>\n)<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n213<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(213<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax effects of adjustments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,999<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,886<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,974<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,912<\/td>\n)<\/td>\n<\/tr>\n
Non-GAAP income<\/td>\n\u00a0<\/td>\n$<\/td>\n16,916<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,345<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n32,593<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n26,829<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Shares used to compute non-GAAP income per share<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,903<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,030<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,828<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,051<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,753<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,016<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,741<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,995<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP income per share<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n$<\/td>\n0.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.77<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n$<\/td>\n0.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.89<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.75<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Per share amounts may not foot due to rounding.<\/em>\u00a0\u00a0\u00a0<\/p>\n

Contact:
Investor Relations
The Blueshirt Group
Irmina Blaszczyk
Lisa Laukkanen
SPSC@blueshirtgroup.com
415-217-4962\u00a0\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Company delivers 82nd consecutive quarter of topline growth with 25% growth in revenue and 22% growth in recurring revenue over second quarter 2020 MINNEAPOLIS, July 29, 2021 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (Nasdaq: SPSC), a leader in retail cloud services, today announced financial results for the second quarter ended June 30, 2021. Revenue was $94.5 million in the second quarter of 2021, compared to $75.6 million in the second quarter of 2020, reflecting 25% growth in revenue from the second quarter of 2020. Recurring revenue grew 22% from the second quarter of 2020. Net income in the second quarter of 2021 was $10.2 million or $0.28 per diluted share, compared to net income of $11.2 million or $0.31 per … <\/p>\n

Continue reading “SPS Commerce Reports Second Quarter 2021 Financial Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-520339","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSPS Commerce Reports Second Quarter 2021 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SPS Commerce Reports Second Quarter 2021 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Company delivers 82nd consecutive quarter of topline growth with 25% growth in revenue and 22% growth in recurring revenue over second quarter 2020 MINNEAPOLIS, July 29, 2021 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (Nasdaq: SPSC), a leader in retail cloud services, today announced financial results for the second quarter ended June 30, 2021. Revenue was $94.5 million in the second quarter of 2021, compared to $75.6 million in the second quarter of 2020, reflecting 25% growth in revenue from the second quarter of 2020. Recurring revenue grew 22% from the second quarter of 2020. Net income in the second quarter of 2021 was $10.2 million or $0.28 per diluted share, compared to net income of $11.2 million or $0.31 per … Continue reading "SPS Commerce Reports Second Quarter 2021 Financial Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-29T20:12:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4OTQyMCM0MzIwNTQ3IzIwMTYyNTE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sps-commerce-reports-second-quarter-2021-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sps-commerce-reports-second-quarter-2021-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SPS Commerce Reports Second Quarter 2021 Financial Results\",\"datePublished\":\"2021-07-29T20:12:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sps-commerce-reports-second-quarter-2021-financial-results\\\/\"},\"wordCount\":1992,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sps-commerce-reports-second-quarter-2021-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI4OTQyMCM0MzIwNTQ3IzIwMTYyNTE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sps-commerce-reports-second-quarter-2021-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sps-commerce-reports-second-quarter-2021-financial-results\\\/\",\"name\":\"SPS Commerce Reports Second Quarter 2021 Financial Results - 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(Nasdaq: SPSC), a leader in retail cloud services, today announced financial results for the second quarter ended June 30, 2021. Revenue was $94.5 million in the second quarter of 2021, compared to $75.6 million in the second quarter of 2020, reflecting 25% growth in revenue from the second quarter of 2020. Recurring revenue grew 22% from the second quarter of 2020. Net income in the second quarter of 2021 was $10.2 million or $0.28 per diluted share, compared to net income of $11.2 million or $0.31 per … Continue reading \"SPS Commerce Reports Second Quarter 2021 Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-29T20:12:39+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4OTQyMCM0MzIwNTQ3IzIwMTYyNTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SPS Commerce Reports Second Quarter 2021 Financial Results","datePublished":"2021-07-29T20:12:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/"},"wordCount":1992,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4OTQyMCM0MzIwNTQ3IzIwMTYyNTE=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/sps-commerce-reports-second-quarter-2021-financial-results\/","name":"SPS Commerce Reports Second Quarter 2021 Financial Results - 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