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Mar 31, 2021
SPS Commerce Q1 2021 Earnings Report
SPS Commerce delivered strong financial results, marked by revenue growth and strategic investments.
Key Takeaways
SPS Commerce reported a strong first quarter in 2021, achieving its 81st consecutive quarter of topline growth. Revenue increased by 21% compared to the first quarter of 2020, with recurring revenue growing by 18%. The company's net income also saw a rise, and ongoing investments have expanded the addressable market and strengthened competitive differentiation.
Revenue reached $90.1 million, a 21% increase year-over-year.
Recurring revenue grew by 18% compared to Q1 2020.
Net income was $10.2 million, or $0.28 per diluted share.
Non-GAAP net income per diluted share was $0.43.
Forward Guidance
SPS Commerce anticipates continued growth in the second quarter of 2021, with revenue expected to be in the range of $90.5 million to $91.5 million. The company also provided guidance for net income per diluted share and non-GAAP net income per diluted share.
Positive Outlook
- Second quarter revenue is expected to be in the range of $90.5 million to $91.5 million.
- Second quarter net income per diluted share is expected to be in the range of $0.20 to $0.21.
- Second quarter Non-GAAP net income per diluted share is expected to be in the range of $0.39 to $0.40.
- Adjusted EBITDA is expected to be in the range of $24.8 million to $25.5 million.
- Full year revenue is expected to be in the range of $371.1 million to $373.6 million, representing 19% to 20% growth over 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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