Loading...
•
Dec 31, 2019
SPS Commerce Q4 2019 Earnings Report
SPS Commerce reported its 76th consecutive quarter of topline growth, driven by a 14% increase in recurring revenue compared to 2018.
Key Takeaways
SPS Commerce announced strong Q4 2019 results, with a 12% increase in revenue to $72.7 million and a 13% growth in recurring revenue. Net income rose to $9.2 million, or $0.25 per diluted share, while non-GAAP net income per diluted share reached $0.35. The company's adjusted EBITDA increased by 35% to $18.9 million.
Revenue for Q4 2019 reached $72.7 million, a 12% increase compared to Q4 2018.
Recurring revenue grew by 13% compared to the fourth quarter of 2018.
Net income for Q4 2019 was $9.2 million, or $0.25 per diluted share, compared to $7.1 million, or $0.20 per diluted share, in Q4 2018.
Adjusted EBITDA for Q4 2019 increased 35% to $18.9 million compared to Q4 2018.
SPS Commerce
SPS Commerce
SPS Commerce Revenue by Segment
Revenue by Segment
Recurring Revenue
CapyFin.com Forward Guidance
SPS Commerce provided guidance for Q1 2020 and full year 2020, expecting revenue to be in the range of $73.6 million to $74.2 million for Q1 and $306.5 million to $308.5 million for the full year. Net income per diluted share is expected to be in the range of $0.19 to $0.20 for Q1 and $0.85 to $0.88 for the full year. Non-GAAP net income per diluted share is expected to be in the range of $0.31 to $0.32 for Q1 and $1.34 to $1.37 for the full year. Adjusted EBITDA is expected to be in the range of $19.2 to $19.8 million for Q1 and $83.0 million to $84.5 million for the full year.
Positive Outlook
- First quarter 2020 revenue is expected to be in the range of $73.6 million to $74.2 million.
- Full year 2020 revenue is expected to be in the range of $306.5 million to $308.5 million, representing approximately 10% to 11% growth over 2019.
- First quarter 2020 net income per diluted share is expected to be in the range of $0.19 to $0.20.
- Full year 2020 net income per diluted share is expected to be in the range of $0.85 to $0.88.
- First quarter 2020 non-GAAP net income per diluted share is expected to be in the range of $0.31 to $0.32.
Challenges Ahead
- Full year 2020 non-GAAP net income per diluted share is expected to be in the range of $1.34 to $1.37.
- First quarter 2020 Adjusted EBITDA is expected to be in the range of $19.2 to $19.8 million.
- Full year 2020 Adjusted EBITDA is expected to be in the range of $83.0 million to $84.5 million, representing approximately 19% to 21% growth over 2019.
- First quarter 2020 non-cash, share-based compensation expense is expected to be approximately $4.6 million.
- For 2020, we expect an annual effective tax rate of approximately 30%.