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CORRECTING and REPLACING – SPS Commerce Reports Second Quarter 2024 Financial Results
MINNEAPOLIS, July 25, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline on July 25, 2024 by SPS Commerce, Inc. (NASDAQ: SPSC), please note
About this update from Sps Commerce, Inc.
[{"type":"text","content":"MINNEAPOLIS, July 25, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline on July 25, 2024 by SPS Commerce, Inc. (NASDAQ: SPSC), please note that the range of Non-GAAP income per diluted share numbers for the Fiscal Year 2024 Guidance have been corrected. The corrected release follows: Company delivers 94th consecutive quarter of topline growth Revenue and recurring revenue growth of 18% year-over-year Announces new Share Repurchase Program SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced financial results for the second quarter ended June 30, 2024. Financial Highlights Second Quarter 2024 Financial Highlights Revenue was $153.6 million in the second quarter of 2024, compared to $130.4 million in the second quarter of 2023, reflecting 18% growth.Recurring revenue grew 18% from the second quarter of 2023.Net income was $18.0 million or $0.48 per diluted share, compared to net income of $14.7 million or $0.39 per diluted share in the second quarter of 2023.Non-GAAP income per diluted share was $0.80, compared to non-GAAP income per diluted share of $0.69 in the second quarter of 2023.Adjusted EBITDA for the second quarter of 2024 increased 16% to $44.2 million compared to the second quarter of 2023.Share repurchases in the second quarter of 2024 totaled $17.5 million. “As the retail industry continues to evolve, SPS is uniquely positioned to help suppliers, large and small, digitize their trading partner connections to achieve efficiencies and scalability,” said Chad Collins, CEO of SPS Commerce. “The mission-critical nature of our solutions fuels consistent demand for our product portfolio, and we remain confident in the growth opportunity ahead of us as e-commerce and omnichannel retail continue to grow.” “SPS Commerce delivered a strong second quarter performance and the 94th consecutive quarter of revenue growth,” said Kim Nelson, CFO of SPS Commerce. “Retail dynamics continue to play a key role in the expansion of our addressable markets, and we believe our balanced growth approach is the right strategy to consistently deliver on our near-term and long-term financial targets.” Share Repurchase Program The Company also announced today that the Board of Directors of SPS Commerce authorized a new program to repurchase up to $100.0 million of common stock. Under t...