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Source document· February 13, 2026

SPS Commerce outlines 7% revenue growth target for 2026 while launching AI-driven MAX solution and expanding share repurchase program

View original at seekingalpha.com
SPS Commerce outlines 7% revenue growth target for 2026 while launching AI-driven MAX solution and expanding share repurchase program Earnings Call Insights: SPS Commerce (SPSC) Q4 2025 MANAGEMENT VIEW * Chad Collins, CEO, emphasized SPS Commerce’s milestone of “100th consecutive quarter of revenue growth” and noted th…
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  • Q4 continued to see headwinds with existing customers, just more challenging time for them, invoice scrutiny, uncertainty, et cetera, and specifically noted lower-than-expected take rates in Revenue Recovery due to Amazon policy changes

    80% confidence

  • Full year 2026 revenue expected between $798.5M and $806.9M, indicating approximately 7% growth over 2025 at the midpoint

    80% confidence

  • Enablement programs are still moving forward but customer count impact will be seen more in Q3 than in the first half of the year

    80% confidence

  • In 2025, SPS deployed 76% of free cash flow to repurchase $115 million of SPS shares

    80% confidence

  • Down-sell activity headwinds should be lapped by the end of the first half of '26

    80% confidence

  • Gross margin expansion is a meaningful component of that overall anticipated EBITDA margin expansion

    80% confidence

  • MAX is competitively positioned to deliver more meaningful and scalable AI enhancements across our product portfolio

    80% confidence

  • Q4 revenue was $192.7 million, a 13% increase over Q4 of last year. Recurring revenue grew 14% year-over-year. Adjusted EBITDA increased 22% to $60.5 million

    80% confidence

  • SPS Commerce achieved its 100th consecutive quarter of revenue growth

    80% confidence

  • Revenue recovery represents a $750 million addressable market across 1P U.S. sellers and a significant cross-selling opportunity within our network

    80% confidence

  • Q1 2026 revenue expected to be $191.6M-$193.6M, representing approximately 6% year-over-year growth at the midpoint

    80% confidence

  • For full year 2025, revenue grew 18% to $751.5 million and recurring revenue grew 20%, driven by fulfillment growth of 22% year-over-year

    80% confidence

  • The majority of the revenue growth is coming from that ARPU side of the equation

    80% confidence
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SPS Commerce outlines 7% revenue growth target for 2026 while launching AI-driven MAX solution and expanding share repurchase program — Source | Via News | ViaNews EU