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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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