$SPSC
SPS COMMERCE INC

2016 Q1 Form 10-Q Financial Statement

#000119312516569213 Filed on April 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $45.60M $36.97M
YoY Change 23.34% 27.75%
Cost Of Revenue $14.88M $11.57M
YoY Change 28.59% 25.04%
Gross Profit $30.72M $25.40M
YoY Change 20.95% 29.03%
Gross Profit Margin 67.37% 68.7%
Selling, General & Admin $23.17M $19.56M
YoY Change 18.46% 27.07%
% of Gross Profit 75.44% 77.02%
Research & Development $5.069M $4.069M
YoY Change 24.58% 36.82%
% of Gross Profit 16.5% 16.02%
Depreciation & Amortization $1.626M $1.541M
YoY Change 5.52% 18.17%
% of Gross Profit 5.29% 6.07%
Operating Expenses $29.40M $24.48M
YoY Change 20.13% 28.24%
Operating Profit $1.314M $922.0K
YoY Change 42.52% 54.18%
Interest Expense $150.0K $40.00K
YoY Change 275.0% -20.0%
% of Operating Profit 11.42% 4.34%
Other Income/Expense, Net $438.0K -$75.00K
YoY Change -684.0% 971.43%
Pretax Income $1.752M $847.0K
YoY Change 106.85% 43.32%
Income Tax $708.0K $261.0K
% Of Pretax Income 40.41% 30.81%
Net Earnings $1.044M $586.0K
YoY Change 78.16% 57.1%
Net Earnings / Revenue 2.29% 1.59%
Basic Earnings Per Share $0.06 $0.04
Diluted Earnings Per Share $0.06 $0.03
COMMON SHARES
Basic Shares Outstanding 16.78M shares 16.43M shares
Diluted Shares Outstanding 17.03M shares 17.01M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $120.9M $133.6M
YoY Change -9.51% -0.74%
Cash & Equivalents $110.9M $133.6M
Short-Term Investments $10.00M
Other Short-Term Assets $5.529M $3.797M
YoY Change 45.61% -72.08%
Inventory
Prepaid Expenses
Receivables $20.43M $15.82M
Other Receivables $0.00 $0.00
Total Short-Term Assets $162.7M $166.2M
YoY Change -2.11% 3.6%
LONG-TERM ASSETS
Property, Plant & Equipment $13.97M $12.09M
YoY Change 15.59% 27.52%
Goodwill $50.92M $34.21M
YoY Change 48.85% 34.23%
Intangibles
YoY Change
Long-Term Investments $12.50M
YoY Change
Other Assets $1.043M $350.0K
YoY Change 198.0% 77.66%
Total Long-Term Assets $119.1M $80.71M
YoY Change 47.53% 21.96%
TOTAL ASSETS
Total Short-Term Assets $162.7M $166.2M
Total Long-Term Assets $119.1M $80.71M
Total Assets $281.7M $246.9M
YoY Change 14.12% 8.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.900M $3.444M
YoY Change 13.24% 53.54%
Accrued Expenses $2.926M $2.796M
YoY Change 4.65% -8.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.57M $24.75M
YoY Change 23.53% 26.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.40M $13.90M
YoY Change 10.79% 15.83%
Total Long-Term Liabilities $15.40M $13.90M
YoY Change 10.79% 15.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.57M $24.75M
Total Long-Term Liabilities $15.40M $13.90M
Total Liabilities $48.33M $38.65M
YoY Change 25.06% 22.83%
SHAREHOLDERS EQUITY
Retained Earnings -$38.41M -$43.50M
YoY Change -11.72% -6.28%
Common Stock $272.6M $254.5M
YoY Change 7.09% 5.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $233.4M $208.2M
YoY Change
Total Liabilities & Shareholders Equity $281.7M $246.9M
YoY Change 14.12% 8.96%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $1.044M $586.0K
YoY Change 78.16% 57.1%
Depreciation, Depletion And Amortization $1.626M $1.541M
YoY Change 5.52% 18.17%
Cash From Operating Activities $6.910M $3.060M
YoY Change 125.82% -14.04%
INVESTING ACTIVITIES
Capital Expenditures $2.116M $2.308M
YoY Change -8.32% 168.06%
Acquisitions $17.94M
YoY Change
Other Investing Activities -$17.94M
YoY Change
Cash From Investing Activities -$20.05M -$2.310M
YoY Change 767.97% 168.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.090M 2.350M
YoY Change -11.06% 285.25%
NET CHANGE
Cash From Operating Activities 6.910M 3.060M
Cash From Investing Activities -20.05M -2.310M
Cash From Financing Activities 2.090M 2.350M
Net Change In Cash -11.05M 3.100M
YoY Change -456.45% -6.34%
FREE CASH FLOW
Cash From Operating Activities $6.910M $3.060M
Capital Expenditures $2.116M $2.308M
Free Cash Flow $4.794M $752.0K
YoY Change 537.5% -72.14%

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0001092699
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
CY2016Q1 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
2000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
55.09
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
Seven to ten years
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85 pure
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
48.08
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
SPS COMMERCE INC
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17029000 shares
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
244000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
293173 shares
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
18.73
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16783000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
16.08
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <i>Use of Estimates</i></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Preparing financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.&#xA0;Actual results could differ from those estimates.</p> </div>
CY2016Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
57096 shares
CY2016Q1 dei Trading Symbol
TradingSymbol
SPSC
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2116000
CY2016Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
2495000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
1044000
CY2016Q1 us-gaap Revenues
Revenues
45599000
CY2016Q1 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
765000
CY2016Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
145000
CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
17942000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1314000
CY2016Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-99000
CY2016Q1 us-gaap Gross Profit
GrossProfit
30718000
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
293000
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
438000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2189000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3940000
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2821000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1752000
CY2016Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
75000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
708000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1927000
CY2016Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
3019000
CY2016Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15889000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-10649000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
29404000
CY2016Q1 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
67000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-20053000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2090000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5069000
CY2016Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-365000
CY2016Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-302000
CY2016Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-319000
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-90000
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1069000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1927000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7285000
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
403000
CY2016Q1 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1021000
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1161000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1694000
CY2016Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
2500000
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1626000
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
304000
CY2016Q1 us-gaap Cost Of Revenue
CostOfRevenue
14881000
CY2016Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
15400000
CY2016Q1 spsc Number Of Offerings
NumberOfOfferings
2 OfferingPeriods
CY2016Q1 spsc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Unissued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnissuedInPeriod
193162 shares

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0001193125-16-569213.txt Edgar Link pending
0001193125-16-569213-xbrl.zip Edgar Link pending
d146613d10q.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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spsc-20160331.xml Edgar Link completed
spsc-20160331.xsd Edgar Link pending
spsc-20160331_cal.xml Edgar Link unprocessable
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spsc-20160331_pre.xml Edgar Link unprocessable