SPS Commerce (SPSC) is a global leader in cloud-based supply chain management services, enabling retailers, grocers, distributors, suppliers, manufacturers, and logistics firms to collaborate efficiently. The company specializes in simplifying the management and sharing of item, inventory, order, and sales data across omnichannel retail channels. SPSC offers a suite of products designed to optimize supply chain performance, reduce operational costs, and enhance order visibility.
- Fulfillment - Facilitates efficient order data exchange among trading partners, streamlining supply chain operations.
- Analytics - Provides tools to analyze supply chain data, helping businesses optimize inventory levels and improve decision-making.
- Revenue Recovery Products - Includes ChargeGuard and Seller Investigators, which focus on recovering lost revenue for customers.
- Other Recurring Revenue Products - Offers ancillary solutions such as inventory management and advertising, serving as entry points for upselling customers into higher-value products.
- One-Time Revenues - Comprises set-up fees and miscellaneous fees from customers, contributing to the company's overall revenue.
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- Based on your Q1 reporting, you mentioned a net addition of 300 organic customers versus the 8,500 from the Carbon6 acquisition; how do you plan to integrate these divergent customer segments into a cohesive growth strategy, and what measures are in place to mitigate potential integration risks?
- You acknowledged a 2% decline in the analytics business amid tariff uncertainties; can you explain which specific macro factors are impacting this segment and what targeted initiatives you have to reverse this trend?
- Your EPS outperformance in Q1 was partially attributed to timing differences in spending and hiring; could you detail which cost elements or talent acquisitions are expected to be deferred and how that might affect near-term profitability?
- With recent enablement campaigns showing a bias toward retailers already on your network, what are the strategic reasons behind this trend and how do you plan to shift focus towards acquiring new retail relationships for sustainable organic growth?
- Given the ongoing macro uncertainties and evolving tariff impacts, which leading indicators are you monitoring for community enablement campaigns, and what contingency plans do you have if you observe a significant slowdown or increased supplier churn?
Research analysts who have asked questions during SPS Commerce Inc earnings calls.
Dylan Becker
William Blair
4 questions for SPSC
Lachlan Brown
Redburn Atlantic
4 questions for SPSC
Nehal Chokshi
Northland Capital Markets
4 questions for SPSC
Parker Lane
Stifel Financial Corp.
4 questions for SPSC
George Michael Kurosawa
Citigroup
3 questions for SPSC
Jeff Van Rhee
Craig-Hallum Capital Group
3 questions for SPSC
Joseph Vruwink
Baird
3 questions for SPSC
Mark Schappel
Loop Capital Markets
3 questions for SPSC
Scott Berg
Needham & Company, LLC
2 questions for SPSC
Daniel Hibshman
Craig-Hallum Capital Group
1 question for SPSC
George Kurosawa
Citigroup Inc.
1 question for SPSC
Ian Black
Needham & Company
1 question for SPSC
Mark Chappell
Loop Capital Markets
1 question for SPSC
Matt Vanvliet
Cantor Fitzgerald
1 question for SPSC
Quinton Gabrielli
Piper Sandler
1 question for SPSC
Robert Morelli
Needham & Company, LLC
1 question for SPSC
William Jellison
D.A. Davidson & Co.
1 question for SPSC
Recent press releases and 8-K filings for SPSC.
- Commerce.com, Inc. (formerly BigCommerce Holdings, Inc.) reported total revenue of $84.4 million, a 3% increase compared to the second quarter of 2024, and a GAAP net loss of ($8.4) million for the second quarter ended June 30, 2025. The company also achieved non-GAAP operating income of $4.8 million and Adjusted EBITDA of $5.7 million for the same period.
- The company announced its rebranding to Commerce.com, Inc., unifying BigCommerce, Feedonomics, and Makeswift, and will change its Nasdaq ticker symbol to "CMRC" effective on or about August 1, 2025.
- For the third quarter of 2025, Commerce.com, Inc. expects total revenue between $85 million and $87 million and non-GAAP operating income between $2.3 million and $3.3 million. The full year 2025 outlook projects total revenue between $339.6 million and $346.6 million and non-GAAP operating income between $19 million and $25 million.
- SPS Commerce Inc. reported strong Q2 2025 results, with revenue increasing 22% year-over-year to $187.4 million and adjusted EBITDA growing 27% to $56.1 million, marking its 98th consecutive quarter of revenue growth.
- For the full year 2025, the company expects revenue to be between $759 million and $763 million (19% to 20% growth) and adjusted EBITDA in the range of $230.7 million to $233.7 million (24% to 25% growth).
- While retail demand remains strong, the company is experiencing heightened spend scrutiny and delayed purchasing decisions from suppliers, particularly in the mid-market ERP segment, due to macro uncertainties.
- Looking beyond 2025, SPS Commerce anticipates an organic revenue growth rate of at least high single digits and projects an annual expansion of adjusted EBITDA margin by two percentage points.