SPS Commerce Q3 2024 Earnings Report
Key Takeaways
SPS Commerce reported revenue of $163.7 million, a 21% increase year-over-year. Net income was $23.5 million, or $0.62 per diluted share, while non-GAAP income per diluted share was $0.92.
Revenue reached $163.7 million, reflecting 21% growth compared to Q3 2023.
Recurring revenue also grew by 21% year-over-year.
Net income increased to $23.5 million, or $0.62 per diluted share, up from $16.8 million, or $0.45 per diluted share in Q3 2023.
Non-GAAP income per diluted share rose to $0.92, compared to $0.75 in the same period last year.
SPS Commerce
SPS Commerce
SPS Commerce Revenue by Segment
Forward Guidance
SPS Commerce expects revenue to be in the range of $168.5 million to $169.5 million, representing 16% to 17% year-over-year growth. Net income per diluted share is expected to be in the range of $0.46 to $0.47, and non-GAAP income per diluted share is expected to be in the range of $0.83 to $0.84.
Positive Outlook
- Revenue is expected to grow 16% to 17% year-over-year.
- Net income per diluted share is expected to be in the range of $0.46 to $0.47.
- 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 $48.0 million to $48.7 million.
- Company expects continued growth
Challenges Ahead
- Significant known and unknown risks and uncertainties could cause actual results to vary materially.
- The Company does not present a reconciliation of the forward-looking non-GAAP financial measures.
- Non-cash, share-based compensation expense is expected to be $12.8 million.
- Depreciation expense is expected to be $5.1 million.
- Amortization expense is expected to be $7.2 million.