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Mar 31, 2024
SPS Commerce Q1 2024 Earnings Report
SPS Commerce achieved its 93rd consecutive quarter of topline growth, driven by revenue and recurring revenue growth of 19% year-over-year.
Key Takeaways
SPS Commerce reported a strong start to the year with revenue of $149.6 million, a 19% increase compared to the first quarter of 2023. Net income was $18.0 million, or $0.48 per diluted share, while non-GAAP income per diluted share was $0.86.
Revenue reached $149.6 million, reflecting 19% growth compared to the first quarter of 2023.
Recurring revenue also grew by 19% year-over-year.
Net income was $18.0 million, or $0.48 per diluted share, compared to $15.3 million, or $0.41 per diluted share in the first quarter of 2023.
Non-GAAP income per diluted share increased to $0.86, compared to $0.67 in the first quarter of 2023.
Forward Guidance
SPS Commerce expects revenue to be in the range of $150.9 million to $151.7 million for the second quarter of 2024. Net income per diluted share is expected to be in the range of $0.45 to $0.46, and non-GAAP income per diluted share is expected to be in the range of $0.75 to $0.76.
Positive Outlook
- Revenue is expected to be in the range of $150.9 million to $151.7 million.
- Net income per diluted share is expected to be in the range of $0.45 to $0.46.
- Non-GAAP income per diluted share is expected to be in the range of $0.75 to $0.76.
- Adjusted EBITDA is expected to be in the range of $43.4 million to $44.1 million.
- Revenue is expected to be in the range of $619.9 million to $621.9 million for fiscal year 2024, representing 15% to 16% growth over 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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