SPSC FY 2022 Earnings Report — SPS Commerce, Inc. Revenue & Financial Results | Market Cap Arena

SPS Commerce, Inc.SPSC

FY 2022 Earnings

Reported February 21, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$451M	—	$385M	—	17.0%
Op. Income	$71M	—	$55M	—	29.2%
Gross Margin	66.1%	—	65.8%	—	0.2pp
Net Margin	12.2%	—	11.6%	—	0.7pp
EPS (Diluted)	$1.49	—	$1.21	—	23.1%
Free Cash Flow	$80M	—	$93M	—	-14.1%

Revenue Flow

Item	Amount
REVENUE	$451M
Cost of Revenue	$153M
GROSS PROFIT	$298M
R&D Expenses	$46M
Selling & Marketing	$102M
General & Administrative	$67M
SG&A Expenses	$169M
Other Expenses	$12M
Operating Expenses	$227M
Cost & Expenses	$380M
OPERATING INCOME	$71M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$142.0K
INCOME BEFORE TAX	$71M
Income Tax Expense	$16M
Net Income from Continuing Ops	$55M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$55M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$55M
D&A	$28M
EBIT	$71M
EBITDA	$99M
EPS	$2
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$451M
Cost of Revenue	$153M
GROSS PROFIT	$298M
R&D Expenses	$46M
Selling & Marketing	$102M
General & Administrative	$67M
SG&A Expenses	$169M
Other Expenses	$12M
Operating Expenses	$227M
Cost & Expenses	$380M
OPERATING INCOME	$71M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$142.0K
INCOME BEFORE TAX	$71M
Income Tax Expense	$16M
Net Income from Continuing Ops	$55M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$55M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$55M
D&A	$28M
EBIT	$71M
EBITDA	$99M
EPS	$2
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$55M
Depreciation & Amortization	$28M
Stock-Based Compensation	$33M
Deferred Income Tax	-$4M
Other Non-Cash Items	$4M
Change in Working Capital	-$17M
OPERATING CASH FLOW	$100M
Capital Expenditure	-$20M
Acquisitions (Net)	-$91M
Purchases of Investments	-$160M
Sales/Maturities of Investments	$159M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$113M
Net Debt Issuance	$0
Common Stock Repurchased	-$43M
Common Dividends Paid	$0
Other Financing Activities	$12M
NET CASH FROM FINANCING	-$32M
FREE CASH FLOW	$80M
Net Change in Cash	-$45M

Balance Sheet

Item	Amount
Cash & Equivalents	$163M
Short-Term Investments	$51M
Net Receivables	$39M
Inventory	$0
Other Current Assets	$69M
TOTAL CURRENT ASSETS	$323M
PP&E (Net)	$45M
Goodwill	$197M
Intangible Assets	$88M
Long-Term Investments	$0
Tax Assets	$227.0K
Other Non-Current Assets	$20M
TOTAL NON-CURRENT ASSETS	$350M
TOTAL ASSETS	$673M
Account Payables	$11M
Short-Term Debt	$0
Deferred Revenue	$57M
Other Current Liabilities	$7M
TOTAL CURRENT LIABILITIES	$111M
Long-Term Debt	$0
Deferred Revenue NC	$5M
Deferred Tax Liabilities	$7M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$25M
TOTAL LIABILITIES	$136M
Common Stock	$38.0K
Additional Paid-In Capital	$476M
Retained Earnings	$193M
Treasury Stock	-$129M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$537M
Minority Interest	$0
TOTAL EQUITY	$537M
TOTAL LIABILITIES & EQUITY	$673M
Total Debt	$17M
Net Debt	-$146M