SPSC FY 2019 Earnings Report — SPS Commerce, Inc. Revenue & Financial Results | Market Cap Arena

SPS Commerce, Inc.SPSC

FY 2019 Earnings

Reported February 25, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$279M	—	$248M	—	12.4%
Op. Income	$38M	—	$27M	—	43.7%
Gross Margin	67.0%	—	67.1%	—	-0.1pp
Net Margin	12.1%	—	9.6%	—	2.5pp
EPS (Diluted)	$0.94	—	$0.68	—	38.2%
Free Cash Flow	$58M	—	$41M	—	41.1%

Revenue Flow

Item	Amount
REVENUE	$279M
Cost of Revenue	$92M
GROSS PROFIT	$187M
R&D Expenses	$28M
Selling & Marketing	$70M
General & Administrative	$45M
SG&A Expenses	$115M
Other Expenses	$5M
Operating Expenses	$148M
Cost & Expenses	$241M
OPERATING INCOME	$38M
Interest Income	$3M
Interest Expense	$0
Other Income/Expenses	$4M
INCOME BEFORE TAX	$42M
Income Tax Expense	$8M
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$16M
EBIT	$38M
EBITDA	$55M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$279M
Cost of Revenue	$92M
GROSS PROFIT	$187M
R&D Expenses	$28M
Selling & Marketing	$70M
General & Administrative	$45M
SG&A Expenses	$115M
Other Expenses	$5M
Operating Expenses	$148M
Cost & Expenses	$241M
OPERATING INCOME	$38M
Interest Income	$3M
Interest Expense	$0
Other Income/Expenses	$4M
INCOME BEFORE TAX	$42M
Income Tax Expense	$8M
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$16M
EBIT	$38M
EBITDA	$55M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$34M
Depreciation & Amortization	$16M
Stock-Based Compensation	$15M
Deferred Income Tax	$8M
Other Non-Cash Items	$2M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$72M
Capital Expenditure	-$14M
Acquisitions (Net)	-$12M
Purchases of Investments	-$74M
Sales/Maturities of Investments	$84M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$14M
Net Debt Issuance	$0
Common Stock Repurchased	-$21M
Common Dividends Paid	$0
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$12M
FREE CASH FLOW	$58M
Net Change in Cash	$45M

Balance Sheet

Item	Amount
Cash & Equivalents	$179M
Short-Term Investments	$34M
Net Receivables	$32M
Inventory	$0
Other Current Assets	$47M
TOTAL CURRENT ASSETS	$292M
PP&E (Net)	$39M
Goodwill	$77M
Intangible Assets	$23M
Long-Term Investments	$0
Tax Assets	$3M
Other Non-Current Assets	$14M
TOTAL NON-CURRENT ASSETS	$156M
TOTAL ASSETS	$447M
Account Payables	$4M
Short-Term Debt	$0
Deferred Revenue	$31M
Other Current Liabilities	$22M
TOTAL CURRENT LIABILITIES	$68M
Long-Term Debt	$0
Deferred Revenue NC	$3M
Deferred Tax Liabilities	$1M
Other Non-Current Liabilities	$405.0K
TOTAL NON-CURRENT LIABILITIES	$25M
TOTAL LIABILITIES	$93M
Common Stock	$36.0K
Additional Paid-In Capital	$354M
Retained Earnings	$49M
Treasury Stock	-$46M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$355M
Minority Interest	$0
TOTAL EQUITY	$355M
TOTAL LIABILITIES & EQUITY	$447M
Total Debt	$24M
Net Debt	-$155M