Business
SPS Commerce Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Company delivers 96th consecutive quarter of topline growth Fourth quarter 2024 revenue grew 18% and recurring revenue grew 19% from the fourth quarter of
About this update from Sps Commerce, Inc.
[{"type":"text","content":"Company delivers 96th consecutive quarter of topline growth Fourth quarter 2024 revenue grew 18% and recurring revenue grew 19% from the fourth quarter of 2023 MINNEAPOLIS, Feb. 10, 2025 (GLOBE NEWSWIRE) -- SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced financial results for the fourth quarter and year ended December 31, 2024. Financial Highlights Fourth Quarter 2024 Financial Highlights Revenue was $170.9 million in the fourth quarter of 2024, compared to $145.0 million in the fourth quarter of 2023, reflecting 18% growth.Recurring revenue grew 19% from the fourth quarter of 2023.Net income was $17.6 million or $0.46 per diluted share, compared to net income of $19.0 million or $0.51 per diluted share in the fourth quarter of 2023.Non-GAAP income per diluted share was $0.89, compared to non-GAAP income per diluted share of $0.75 in the fourth quarter of 2023.Adjusted EBITDA for the fourth quarter of 2024 increased 18% to $49.6 million compared to the fourth quarter of 2023. Fiscal Year 2024 Financial Highlights Revenue was $637.8 million for the year ended December 31, 2024, compared to $536.9 million for the year ended December 31, 2023, reflecting 19% growth.Recurring revenue grew 20% from the year ended December 31, 2023.Net income was $77.1 million or $2.04 per diluted share for the year ended December 31, 2024, compared to net income of $65.8 million or $1.76 per diluted share for the comparable period in 2023, reflecting 17% growth in year-over-year net income.Non-GAAP income per diluted share was $3.48, compared to non-GAAP income per diluted share of $2.85 in the year ended December 31, 2023.Adjusted EBITDA for the year ended December 31, 2024 increased 18% to $186.6 million compared to the year ended December 31, 2023. “We are pleased with what we have accomplished in 2024, and I would like to congratulate SPS Commerce employees for their unwavering commitment to excellence and exceptional understanding of the retail supply chain,” said Chad Collins, CEO of SPS Commerce. “With the depth and breadth of solutions we offer today, we are uniquely positioned to support all trading relationships and continue growing our network to move the world of commerce forward.” “We believe that SPS’ leading retail network and competitive product portfolio position us well to continue ...