Filing Flows › SPS Commerce (SPSC) › Q2 2026
SPS Commerce (SPSC) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
SPS Commerce (SPSC) reported revenue of $198M for the second quarter 2026 (Q2 2026), +6% from a year earlier and +3% from the quarter before. Operating margin was 4.3%, net earnings $6.9M (3.5% of revenue).
SPS Commerce, Q2 2026: revenue $198M (+6% year over year), operating margin 4.3%, net earnings $6.9M, operating cash flow $66.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $198M | +3% | +6% |
| Gross profit | $139M | +4% | +9% |
| Operating profit | $8.4M | -66% | -68% |
| Net earnings | $6.9M | -65% | -65% |
| Operating cash flow | $66.0M | +19% | +104% |
| Free cash flow | $57.4M | +18% | +124% |
What changed
Revenue was $197.8M in Q2 2026, up 6% year over year and up 3% from the previous quarter.
Gross margin was 70.2%, up 2.1 points from Q2 2025. Operating profit was $8.4M, a 4.3% margin (down 9.9 points year over year). Operating profit fell $18.1M even though revenue rose $10.4M versus Q2 2025, so costs grew faster than sales. Operating expenses grew 29% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+245%). Net earnings were $6.9M, down 65% year over year. The effective tax rate was 34.1%.
Operating cash flow was $66.0M (up 104% year over year), 962% of net earnings. Non-cash charges added back $6.2M of depreciation and amortization and $18.7M of share-based compensation. Working capital and other items added $34.3M. Capital expenditures of $8.6M left free cash flow of $57.4M.
Questions
What was SPS Commerce's revenue in the second quarter 2026?
SPS Commerce (SPSC) reported revenue of $198M for the second quarter 2026 (Q2 2026), +6% from a year earlier and +3% from the quarter before.
Was SPS Commerce profitable in the second quarter 2026?
Operating profit was $8.4M (4.3% of revenue) and net earnings $6.9M.
Source: SPS Commerce 10-Q on SEC EDGAR.