Mark Chappell's questions to SPS Commerce Inc (SPSC) leadership • Q2 2025
Question
Mark Chappell from Loop Capital Markets inquired about the general health of SPS Commerce's SMB customers and the level of customer churn being observed amidst delayed purchasing decisions.
Answer
CEO Chad Collins stated that customer churn, meaning full cancellations, has remained very consistent with historical levels. He clarified the pressure is not from increased business failures but from existing customers scrutinizing invoices for cost savings and from slower new deal cycles due to macro uncertainty.