Filing Flows › SPS Commerce (SPSC) › Q3 2026 › vs Q2 2026
SPS Commerce (SPSC) Q3 2026 vs Q2 2026 (quarter over quarter)
SPS Commerce's revenue fell $168K (-0.1%) from $198M in Q2 2026 to $198M in Q3 2026. Gross margin 71.1% against 70.2% (+0.9 pts).
SPS Commerce, Q3 2026: revenue $198M (+4% year over year), operating margin 20.2%, net earnings $30.7M, operating cash flow $64.0M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 71.1% | 70.2% | +0.9 pts |
| Operating margin | 20.2% | 4.3% | +15.9 pts |
| Net margin | 15.5% | 3.5% | +12.1 pts |
| Free cash flow margin | 29.6% | 29.0% | +0.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $198M | $198M | −$168K | -0.1% |
| Gross profit | $141M | $139M | $1.8M | +1% |
| Cost of revenue | $57.1M | $59.0M | −$1.9M | -3% |
| Other income, net | $1.4M | $2.0M | −$625K | -31% |
| Operating profit | $39.9M | $8.4M | $31.5M | +375% |
| Operating expenses | $101M | $130M | −$29.8M | -23% |
| Pre-tax earnings | $41.3M | $10.4M | $30.9M | +297% |
| Research & development | $16.5M | $17.0M | −$411K | -2% |
| Sales & marketing | $43.5M | $43.9M | −$462K | -1% |
| General & admin | $30.8M | $36.6M | −$5.8M | -16% |
| Other operating costs | $9.8M | $32.8M | −$23.1M | -70% |
| Net earnings | $30.7M | $6.9M | $23.8M | +347% |
| Income tax | $10.6M | $3.5M | $7.1M | +199% |
| Depreciation & amortization | $6.1M | $6.2M | −$78K | -1% |
| Share-based compensation | $15.7M | $18.7M | −$3.0M | -16% |
| Working capital & other | $11.6M | $34.3M | −$22.8M | -66% |
| Operating cash flow | $64.0M | $66.0M | −$2.0M | -3% |
| Free cash flow (OCF − capex) | $58.5M | $57.4M | $1.1M | +2% |
| Capital expenditures | $5.5M | $8.6M | −$3.1M | -36% |
Questions
How much did SPS Commerce's revenue grow quarter over quarter in Q3 2026?
SPS Commerce's revenue fell $168K (-0.1%) from $198M in Q2 2026 to $198M in Q3 2026. Gross margin 71.1% against 70.2% (+0.9 pts).