SPS Commerce Q4 2023 Earnings Report
Key Takeaways
SPS Commerce reported Q4 2023 revenue of $145.0 million, a 19% increase compared to Q4 2022. Net income was $19.0 million, or $0.51 per diluted share, compared to $15.9 million, or $0.43 per diluted share in the prior year. Non-GAAP income per diluted share was $0.75, compared to $0.63 in Q4 2022.
Revenue was $145.0 million, reflecting 19% growth compared to the fourth quarter of 2022.
Recurring revenue grew 19% from the fourth quarter of 2022.
Net income was $19.0 million or $0.51 per diluted share, compared to net income of $15.9 million or $0.43 per diluted share in the fourth quarter of 2022.
Non-GAAP income per diluted share was $0.75, compared to non-GAAP income per diluted share of $0.63 in the fourth quarter of 2022.
SPS Commerce
SPS Commerce
SPS Commerce Revenue by Segment
Forward Guidance
SPS Commerce anticipates revenue in the range of $145.9 million to $146.7 million for Q1 2024. Net income per diluted share is expected to be in the range of $0.26 to $0.27, and non-GAAP income per diluted share is expected to be in the range of $0.72 to $0.73.
Positive Outlook
- Revenue is expected to be in the range of $145.9 million to $146.7 million.
- Net income per diluted share is expected to be in the range of $0.26 to $0.27.
- Non-GAAP income per diluted share is expected to be in the range of $0.72 to $0.73.
- Adjusted EBITDA is expected to be in the range of $42.1 million to $42.7 million.
- Revenue is expected to be in the range of $616.5 million to $619.0 million, representing 15% growth over 2022.
Challenges Ahead
- Non-cash, share-based compensation expense is expected to be $20.1 million.
- Depreciation expense is expected to be $4.7 million.
- Amortization expense is expected to be $4.7 million.
- Net income per diluted share is expected to be in the range of $1.75 to $1.78.
- Non-GAAP income per diluted share is expected to be in the range of $3.11 to $3.13.