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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.
SPS Commerce
SPS Commerce
SPS Commerce Revenue by Segment
Revenue by Segment
Recurring Revenue
CapyFin.com 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.