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SPS Commerce (SPSC) Q3 FY2023 earnings: revenue $136 million, up 18.5% on the year

SPS Commerce Inc. (SPSC) reported revenue of $136 million for Q3 FY2023, the quarter ended 30 September 2023, up 18.5% on the same quarter a year earlier. Net income was $17 million, up 6.2% on the year, and diluted earnings per share $0.45. The figures are the company's own, from the 10-Q it filed with the SEC on 26 October 2023.

Revenue$136 millionup 18.5%
Net income$17 millionup 6.2%
Diluted EPS$0.45
QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue136n/an/an/a
Cost of revenue45.5n/an/an/a
Gross profit90.1n/an/an/a
Gross margin66.4%n/an/a
Research and development13.6n/an/an/a
Operating income20.6n/an/an/a
Operating margin15.2%n/an/a
Pre-tax income22.3n/an/an/a
Income tax5.5n/an/an/a
Effective tax rate24.5%n/an/a
Net income16.8n/an/an/a
Net margin12.4%n/an/a
Diluted EPS$0.45n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow43.8n/an/an/a
Capital expenditure5.7n/an/an/a
Free cash flow38.1n/an/an/a
Free cash flow margin28.1%n/an/a
Cash from investing-75.1n/an/an/a
Cash from financing1.1n/an/an/a
Depreciation and amortisation4.7n/an/an/a
Share-based compensation11.4n/an/an/a
Buybacks0.0n/an/an/a
Diluted shares, weighted38mn/an/an/a
Shares outstanding at period end37mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity627n/an/an/a
Debt0.0n/an/an/a
Operating lease liabilities10.6n/an/an/a
Other liabilities150n/an/an/a
Total liabilities and equity787n/an/an/a
Fixed assets36.2n/an/an/a
Goodwill252n/an/an/a
Intangible assets104n/an/an/a
Investments60.6n/an/an/a
Cash and equivalents179n/an/an/a
Receivables45.1n/an/an/a
Other assets111n/an/an/a
Total assets787n/an/an/a

Questions

What was SPS Commerce's revenue in Q3 FY2023?

SPS Commerce (SPSC) reported revenue of $136 million for Q3 FY2023, the quarter ended 30 September 2023, up 18.5% on the same quarter a year earlier.

How much did SPS Commerce earn in Q3 FY2023?

Net income for Q3 FY2023 was $17 million, up 6.2% on the year, and diluted earnings per share $0.45.

When did SPS Commerce report Q3 FY2023 results?

SPS Commerce filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 26 October 2023.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue136145150154164171182187190193192198
Cost of revenue45.549.051.552.051.655.656.959.857.957.059.259.0
Gross profit90.195.998.1102112115125128132136133139
Gross margin66%66%66%66%68%67%69%68%69%70%69%70%
R&D13.614.216.014.415.317.117.417.317.316.717.917.0
Operating income20.622.915.423.225.624.726.026.531.234.724.68.4
Operating margin15%16%10%15%16%14%14%14%16%18%13%4%
Pre-tax income22.326.318.527.229.324.428.227.232.536.026.010.4
Tax rate24%28%3%34%20%28%21%28%21%28%24%34%
Net income16.819.018.018.023.517.622.219.725.625.819.76.9
Net margin12%13%12%12%14%10%12%11%13%13%10%3%
Diluted EPS$0.45$0.51$0.48$0.48$0.62$0.46$0.58$0.52$0.67$0.68$0.53$0.19
Operating cash flow43.832.834.129.453.340.640.032.360.645.955.666.0
Capital expenditure5.74.33.55.15.26.26.26.76.17.77.18.6
Free cash flow38.128.530.524.448.134.333.825.754.638.248.557.4
Buybacks0.00.016.520.90.10.040.019.630.024.747.151.2
Shares outstanding37m37m37m37m38m38m38m38m38m38m37m36m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 26 October 2023, accession 0001092699-23-000053: the filing on EDGAR. All of SPS Commerce Inc.'s filings: EDGAR company page.

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