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Jun 30, 2024
SPS Commerce Q2 2024 Earnings Report
SPS Commerce delivered its 94th consecutive quarter of topline growth, driven by recurring revenue growth and a strong performance in the second quarter.
Key Takeaways
SPS Commerce reported strong second-quarter results with revenue of $153.6 million, reflecting 18% growth year-over-year. Recurring revenue also grew by 18%. The company's performance was driven by the increasing demand for its retail supply chain cloud services.
Revenue reached $153.6 million, an 18% increase compared to the second quarter of 2023.
Recurring revenue grew by 18% year-over-year.
Net income was $18.0 million, or $0.48 per diluted share, compared to $14.7 million, or $0.39 per diluted share in the second quarter of 2023.
Non-GAAP income per diluted share was $0.80, compared to $0.69 in the second quarter of 2023.
Revenue by Segment
Forward Guidance
The company provided guidance for the third quarter of 2024, expecting revenue in the range of $157.6 million to $158.6 million, net income per diluted share in the range of $0.52 to $0.53, and non-GAAP income per diluted share in the range of $0.83 to $0.84.
Positive Outlook
- Revenue is expected to be in the range of $157.6 million to $158.6 million.
- Net income per diluted share is expected to be in the range of $0.52 to $0.53.
- Non-GAAP income per diluted share is expected to be in the range of $0.83 to $0.84.
- Adjusted EBITDA is expected to be in the range of $46.9 million to $47.7 million.
- Revenue is expected to be in the range of $624.2 million to $626.0 million for the full year 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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