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Mark Chappell

Senior Vice President and Senior Equity Research Analyst at Loop Capital Markets

Mark Schappel is a Senior Vice President and Senior Equity Research Analyst at Loop Capital Markets, specializing in technology sector coverage with a particular emphasis on software and cloud companies. He provides analysis on major industry players including Microsoft, Salesforce, ServiceNow, and Oracle, and boasts a notable track record with a 55.07% success rate and an average return of 7.89% on his stock recommendations. Schappel has built his career in equity research over more than two decades, holding analyst roles at investment firms such as The Benchmark Company and KeyBanc Capital Markets before joining Loop Capital. He holds multiple securities licenses, including FINRA Series 7, 63, 86, and 87 credentials.

Mark Chappell's questions to SPS COMMERCE (SPSC) leadership

Mark Chappell's questions to SPS COMMERCE (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.

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