SPS Commerce Non-GAAP EPS of $1.13 beats by $0.13, revenue of $189.9M misses by $2.78M

* SPS Commerce press release [https://seekingalpha.com/pr/20287373-sps-commerce-reports-third-quarter-2025-financial-results] (SPSC [https://seekingalpha.com/symbol/SPSC]): Q3 Non-GAAP EPS of $1.13 beats by $0.13.
* Revenue of $189.9M (+16.0% Y/Y) misses by $2.78M.

*
Fourth Quarter 2025 Guidance

* Revenue is expected to be in the range of $192.7 million to $194.7 million, representing 13% to 14% year-over-year growth.
* Net income per diluted share is expected to be in the range of $0.53 to $0.57, with fully diluted weighted average shares outstanding of 38.3 million shares.
* Non-GAAP income per diluted share is expected to be in the range of $0.98 to $1.02.
* Adjusted EBITDA is expected to be in the range of $58.8 million to $60.8 million.
* Non-cash, share-based compensation expense is expected to be $15.0 million, depreciation expense is expected to be $5.8 million, and amortization expense is expected to be $9.5 million.

Fiscal Year 2025 Guidance

* Revenue is expected to be in the range of $751.6 million to $753.6 million, representing 18% growth over 2024.
* Net income per diluted share is expected to be in the range of $2.31 to $2.34, with fully diluted weighted average shares outstanding of 38.1 million shares.
* Non-GAAP income per diluted share is expected to be in the range of $4.10 to $4.15.
* Adjusted EBITDA is expected to be in the range of $229.7 million to $231.7 million, representing 23% to 24% growth over 2024.
* Non-cash, share-based compensation expense is expected to be $58.3 million, depreciation expense is expected to be $21.1 million, and amortization expense is expected to be $37.1 million.

* Shares -9.52% AH.

MORE ON SPS COMMERCE

* SPS Commerce: Large TAM, Solid Moat, Renewed Sales Strategy [https://seekingalpha.com/article/4827601-sps-commerce-stock-large-tam-solid-moat-renewed-sales-strategy]
* SPS Commerce, Inc. (SPSC) - 2025 Analyst Day Presentation [https://seekingalpha.com/article/4825296-sps-commerce-inc-spsc-2025-analyst-day-presentation]
* SPS Commerce, Inc. (SPSC) 2025 Investor Day Call (Transcript) [https://seekingalpha.com/article/4825218-sps-commerce-inc-spsc-2025-investor-day-call-transcript]
* SPS Commerce Q3 2025 Earnings Preview [https://seekingalpha.com/news/4510577-sps-commerce-q3-2025-earnings-preview]
* Seeking Alpha’s Quant Rating on SPS Commerce [https://seekingalpha.com/symbol/SPSC/ratings/quant-ratings]