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EarningsQ2 2026 Earnings Report
SPSC Q2 2026 EPS Results
Actual EPS$1.27
Consensus EPS$1.09
Beat/MissBeat by +$0.18
One Year Ago EPS$1.00
SPSC Q2 2026 Revenue Results
Actual Revenue$197.81M
Expected Revenue$195.46M
Beat/MissBeat by +$2.36M
YoY Revenue Growth+5.56%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
SPSC Upcoming Earnings
SPS Commerce's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
SPSC Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call emphasized solid operational and financial execution: revenue and recurring revenue growth, strong free cash flow (trailing 12-month FCF +40% YoY), margin expansion, active capital return, and compelling early AI/analytics customer outcomes (MAX and replatformed analytics). The primary negatives were a one-time loss on the divestiture of the 3P revenue recovery business and resulting customer-count/revenue comparability noise, plus ongoing investments and timing noise around ERP onboarding and AI expense timing. On balance the company showed profitable growth, strong cash generation, and clear paths to AI monetization, while managing one-time portfolio rationalization and near-term investment timing.Company Guidance
Revenue and Recurring Revenue Growth
Q2 revenue of $198.0M, up 6% year-over-year; recurring revenue also grew 6% YoY. Full-year 2026 revenue guidance of $788M–$793.4M (≈5% growth at midpoint) and core business (excluding divestiture) expected to grow high single digits.
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA for Q2 was $66.6M. Full-year adjusted EBITDA guidance of $265M–$269.1M implies a ~34% adjusted EBITDA margin at the midpoint, an improvement of approximately 300 basis points versus 2025.
Strong Cash Generation and Capital Deployment
Q2 free cash flow was $57.4M and trailing 12-month free cash flow was $198.7M, up 40% YoY. Cash & cash equivalents were $173M at quarter end. The company repurchased $51.2M of shares in Q2 (nearly 90% of Q2 free cash flow).
AI (MAX) Early Results and Monetization Path
MAX beta delivered tangible customer ROI: e.g., 90% weekly time savings for overdue order management at Branch Furniture; caught a $290K invoice error; flagged $70K of unacknowledged POs; identified 100 stalled dropship orders. MAX general availability to fulfillment customers planned by end of summer; agent-based autonomous capabilities targeted for monetization (selling agent bundles) by late Q4.
Analytics Platform Replatform and Customer Wins
Launched an enhanced analytics platform with improved scale, UX and AI-readiness to accelerate insights. Customers (e.g., RuffleButts) reported better sell-through visibility across >400 locations and are considering expanding reporting to additional retailers.
Customer Validation and Case Studies
Customer survey: 83% said SPS data improved AI readiness, 87% cited improved scalability, and 100% said SPS is critical to operate at scale. Case studies: Chosen Foods recovered ~30% of outstanding deductions (hundreds of thousands); Owlet recovered $1.4M in 6 months (including a $423K settlement); Serta recovered $200K from a post audit challenge.
SPSC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed