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Jun 30, 2020
SPS Commerce Q2 2020 Earnings Report
SPS Commerce delivered its 78th consecutive quarter of topline growth, with an 11% increase in recurring revenue compared to 2019.
Key Takeaways
SPS Commerce reported revenue of $75.6 million for Q2 2020, a 10% increase from Q2 2019. Net income was $11.2 million, or $0.31 per diluted share, compared to $8.8 million, or $0.24 per diluted share in Q2 2019. Non-GAAP income per diluted share was $0.37, compared to $0.30 in Q2 2019.
Revenue for the second quarter of 2020 reached $75.6 million, reflecting a 10% increase compared to the same period in 2019.
Recurring revenue experienced substantial growth, increasing by 11% compared to the second quarter of 2019.
Net income for the second quarter of 2020 amounted to $11.2 million, translating to $0.31 per diluted share.
Non-GAAP income per diluted share was $0.37, compared to $0.30 in the second quarter of 2019.
Revenue by Segment
Forward Guidance
For the third quarter of 2020, revenue is expected to be in the range of $76.6 million to $77.1 million. Third quarter net income per diluted share is expected to be in the range of $0.19 to $0.20. Non-GAAP income per diluted share is expected to be in the range of $0.32 to $0.33.
Positive Outlook
- Revenue is expected to be in the range of $76.6 million to $77.1 million.
- Net income per diluted share is expected to be in the range of $0.19 to $0.20.
- Non-GAAP income per diluted share is expected to be in the range of $0.32 to $0.33.
- Adjusted EBITDA is expected to be in the range of $20.5 million to $21.0 million.
- Full year revenue is expected to be in the range of $304.1 million to $305.3 million, representing approximately 9% growth over 2019.
Challenges Ahead
- The dynamics of the current situation continue to impact our business and we continue to monitor the uncertainty around the duration and magnitude of the pandemic.
- Taking into account the possibility of continued pressure on retailers.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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