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SPS Commerce (SPSC) Q4 FY2023 earnings: revenue $145 million, up 18.8% on the year

SPS Commerce Inc. (SPSC) reported revenue of $145 million for Q4 FY2023, the quarter ended 31 December 2023, up 18.8% on the same quarter a year earlier. Net income was $19 million, up 19.5% on the year, and diluted earnings per share $0.51. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.

Revenue$145 millionup 18.8%
Net income$19 millionup 19.5%
Diluted EPS$0.51
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue145136n/an/a
Cost of revenue49.045.5n/an/a
Gross profit95.990.1n/an/a
Gross margin66.2%66.4%n/a
Research and development14.213.6n/an/a
Operating income22.920.6n/an/a
Operating margin15.8%15.2%n/a
Pre-tax income26.322.3n/an/a
Income tax7.35.5n/an/a
Effective tax rate27.8%24.5%n/a
Net income19.016.8n/an/a
Net margin13.1%12.4%n/a
Diluted EPS$0.51$0.45n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. 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. 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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow32.843.8n/an/a
Capital expenditure4.35.7n/an/a
Free cash flow28.538.1n/an/a
Free cash flow margin19.7%28.1%n/a
Cash from investing0.8-75.1n/an/a
Cash from financing6.01.1n/an/a
Depreciation and amortisation4.74.7n/an/a
Share-based compensation9.411.4n/an/a
Buybacks0.00.0n/an/a
Diluted shares, weighted38m38mn/an/a
Shares outstanding at period end37m37mn/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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity667627n/an/a
Debt0.00.0n/an/a
Operating lease liabilities9.610.6n/an/a
Other liabilities147150n/an/a
Total liabilities and equity824787n/an/a
Fixed assets36.036.2n/an/a
Goodwill249252n/an/a
Intangible assets107104n/an/a
Investments56.460.6n/an/a
Cash and equivalents219179n/an/a
Receivables46.845.1n/an/a
Other assets109111n/an/a
Total assets824787n/an/a

Questions

What was SPS Commerce's revenue in Q4 FY2023?

SPS Commerce (SPSC) reported revenue of $145 million for Q4 FY2023, the quarter ended 31 December 2023, up 18.8% on the same quarter a year earlier.

How much did SPS Commerce earn in Q4 FY2023?

Net income for Q4 FY2023 was $19 million, up 19.5% on the year, and diluted earnings per share $0.51.

When did SPS Commerce report Q4 FY2023 results?

SPS Commerce filed its 10-K for the year that ended with the quarter on 21 February 2024; the fourth quarter is the year less the first three.

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-K for the period ended 31 December 2023, filed 21 February 2024, accession 0001092699-24-000012: the filing on EDGAR. All of SPS Commerce Inc.'s filings: EDGAR company page.

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