---
schema_version: "secwatch.filing_event.v1"
accession: "0001092699-25-000036"
form_type: "8-K"
ticker: "SPSC"
cik: "0001092699"
company_name: "SPS COMMERCE INC"
filed_at: "2025-04-24T23:59:59+00:00"
generated_at: "2026-05-23T06:39:41.572588+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SPS Commerce Q1 revenue $181.5M (+21% YoY); non-GAAP EPS $1.00 beats $0.86

## Summary
- Revenue $181.5M (+21% YoY); recurring revenue +23%. GAAP net income $22.2M ($0.58 diluted EPS).
- Non-GAAP EPS $1.00 vs $0.86; adjusted EBITDA $54.4M (+22%). Share repurchases $40M in Q1.
- Q2 2025 revenue guidance $184.5M-$186.2M (20-21% YoY). FY2025 revenue $758.5M-$763M (19-20%).
- 97th consecutive quarter of topline growth; CEO cites $11B TAM and resilient business model.

## SEC filing metadata
- accession: 0001092699-25-000036
- form_type: 8-K
- ticker: SPSC
- cik: 0001092699
- company_name: SPS COMMERCE INC
- filed_at: 2025-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1092699/000109269925000036/0001092699-25-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1092699/000109269925000036/spsc-20250424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001092699-25-000036
- JSON: https://secwatch.observer/filing/0001092699-25-000036.json
- Plain text: https://secwatch.observer/filing/0001092699-25-000036.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.