SPSC FY 2020 Earnings Report — SPS Commerce, Inc. Revenue & Financial Results | Market Cap Arena

SPS Commerce, Inc.SPSC

FY 2020 Earnings

Reported February 23, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$313M	—	$279M	—	12.0%
Op. Income	$50M	—	$38M	—	30.6%
Gross Margin	68.1%	—	67.0%	—	1.1pp
Net Margin	14.6%	—	12.1%	—	2.5pp
EPS (Diluted)	$1.26	—	$0.94	—	34.0%
Free Cash Flow	$72M	—	$58M	—	23.9%

Revenue Flow

Item	Amount
REVENUE	$313M
Cost of Revenue	$100M
GROSS PROFIT	$213M
R&D Expenses	$31M
Selling & Marketing	$76M
General & Administrative	$50M
SG&A Expenses	$126M
Other Expenses	$6M
Operating Expenses	$163M
Cost & Expenses	$262M
OPERATING INCOME	$50M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$3M
INCOME BEFORE TAX	$53M
Income Tax Expense	$7M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$19M
EBIT	$50M
EBITDA	$69M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$313M
Cost of Revenue	$100M
GROSS PROFIT	$213M
R&D Expenses	$31M
Selling & Marketing	$76M
General & Administrative	$50M
SG&A Expenses	$126M
Other Expenses	$6M
Operating Expenses	$163M
Cost & Expenses	$262M
OPERATING INCOME	$50M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$3M
INCOME BEFORE TAX	$53M
Income Tax Expense	$7M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$19M
EBIT	$50M
EBITDA	$69M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$46M
Depreciation & Amortization	$19M
Stock-Based Compensation	$19M
Deferred Income Tax	$4M
Other Non-Cash Items	$6M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$89M
Capital Expenditure	-$16M
Acquisitions (Net)	-$99M
Purchases of Investments	-$75M
Sales/Maturities of Investments	$69M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$120M
Net Debt Issuance	$0
Common Stock Repurchased	-$19M
Common Dividends Paid	$0
Other Financing Activities	$21M
NET CASH FROM FINANCING	$2M
FREE CASH FLOW	$72M
Net Change in Cash	-$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$150M
Short-Term Investments	$38M
Net Receivables	$35M
Inventory	$0
Other Current Assets	$10M
TOTAL CURRENT ASSETS	$233M
PP&E (Net)	$42M
Goodwill	$135M
Intangible Assets	$60M
Long-Term Investments	$3M
Tax Assets	$194.0K
Other Non-Current Assets	$53M
TOTAL NON-CURRENT ASSETS	$293M
TOTAL ASSETS	$526M
Account Payables	$5M
Short-Term Debt	$5M
Deferred Revenue	$38M
Other Current Liabilities	$9M
TOTAL CURRENT LIABILITIES	$80M
Long-Term Debt	$0
Deferred Revenue NC	$3M
Deferred Tax Liabilities	$3M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$26M
TOTAL LIABILITIES	$106M
Common Stock	$37.0K
Additional Paid-In Capital	$393M
Retained Earnings	$93M
Treasury Stock	-$65M
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$421M
Minority Interest	$0
TOTAL EQUITY	$421M
TOTAL LIABILITIES & EQUITY	$526M
Total Debt	$24M
Net Debt	-$125M