Flagship explainer
How SPS COMMERCE, INC. makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
| Filed line | Value | % of revenue | Source |
|---|---|---|---|
| $752M | 100% |
| |
| Cost of revenue | $232M | 31% |
|
| $520M | 69% |
| |
| $118M | 16% |
| |
| Income before tax | $124M | 16% |
|
| Income tax | $30.5M | 4% |
|
| $93.3M | 12% |
|
Source:
- SEC filing · FY 2025Filing detailsAccession 0001092699-26-000012