SPS Commerce Files Q3 2024 10-Q

TL;DR

SPS Commerce dropped its Q3 10-Q. Check financials for latest performance.

AI Summary

SPS Commerce Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance and financial position.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for SPS Commerce, crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Players & Entities

• SPS Commerce Inc. (company) — Filer of the 10-Q
• September 30, 2024 (date) — End of the reporting period
• 20241024 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share SPSC The Nasdaq Stock Market

Filing Documents

• spsc-20240930.htm (10-Q) — 1253KB
• q3_2024exhibitex311ceo.htm (EX-31.1) — 9KB
• q3_2024exhibitex312cfo.htm (EX-31.2) — 9KB
• q3_2024exhibitex321ceocfo.htm (EX-32.1) — 6KB
• spsc-20240930_g1.jpg (GRAPHIC) — 57KB
• 0001092699-24-000074.txt ( ) — 6977KB
• spsc-20240930.xsd (EX-101.SCH) — 48KB
• spsc-20240930_cal.xml (EX-101.CAL) — 81KB
• spsc-20240930_def.xml (EX-101.DEF) — 197KB
• spsc-20240930_lab.xml (EX-101.LAB) — 619KB
• spsc-20240930_pre.xml (EX-101.PRE) — 440KB
• spsc-20240930_htm.xml (XML) — 960KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 30 Item 6. Exhibits 30

SIGNATURES

SIGNATURES 31 Unless the context otherwise requires, for purposes of the Quarterly Report on Form 10-Q, the words "we," "us," "our," the "Company," "SPS," and "SPS Commerce" refer to SPS Commerce, Inc. SPS COMMERCE, INC. 2 Form 10-Q for the Quarterly Period ended September 30, 2024 Table of Contents

– FINANCIAL INFORMATION

PART I. – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SPS COMMERCE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except shares) September 30, 2024 December 31, 2023 ASSETS (unaudited) Current assets Cash and cash equivalents $ 198,842 $ 219,081 Short-term investments 6,931 56,359 Accounts receivable 60,044 50,160 Allowance for credit losses ( 4,474 ) ( 3,320 ) Accounts receivable, net 55,570 46,840 Deferred costs 64,665 62,403 Other assets 18,639 16,758 Total current assets 344,647 401,441 Property and equipment, net 36,148 36,043 Operating lease right-of-use assets 8,412 7,862 Goodwill 423,508 249,176 Intangible assets, net 168,131 107,344 Other assets Deferred costs, non-current 20,802 20,347 Deferred income tax assets 412 505 Other assets, non-current 1,240 1,126 Total assets $ 1,003,300 $ 823,844 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 8,107 $ 7,420 Accrued compensation 46,010 41,588 Accrued expenses 8,968 8,014 Deferred revenue 78,883 69,187 Operating lease liabilities 4,363 4,460 Total current liabilities 146,331 130,669 Other liabilities Deferred revenue, non-current 6,550 6,930 Operating lease liabilities, non-current 8,807 9,569 Deferred income tax liabilities 11,607 8,972 Other liabilities, non-current 640 229 Total liabilities 173,935 156,369 Commitments and contingencies Stockholders' equity Preferred stock, $ 0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding — — Common stock, $ 0.001 par value; 110,000,000 shares authorized; 39,495,411 and 38,971,146 shares issued; and 37,566,443 and 36,820,048 shares outstanding, respectively 39 39 Treasury stock, at cost; 1,928,968 and 2,151,098 shares, respectively ( 99,748 ) ( 128,892 ) Additional paid-in capital 611,719 537,061 Retained earnings 318,540 259,045 Accumulated other comprehensive gain (loss) ( 1,185 ) 222 Total stockholders' equity 829,365 667,475 Total liabilities and stockholders' equity $ 1,003,300

View Full Filing

View this 10-Q filing on SEC EDGAR