Sps Commerce (SPSC) Gross Margin (2010 - 2026)
Sps Commerce (SPSC) reported Gross Margin of 69.18% for Q1 2026, up 53.0% year-over-year from 45.21% in Q1 2025, and down 1.79% on a QoQ basis from 70.44% in Q4 2025.
Sps Commerce (SPSC) has 17 years of Gross Margin data on file, last reported at 69.18% in Q1 2026.
- Quarterly Gross Margin rose 53.0% year-over-year to 69.18% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 69.3% (up 158.0% YoY) and the FY2025 annual result came in at 69.18%, up 222.0% from the prior year.
- Gross Margin retreated to 69.18% in Q1 2026 per SPSC's latest filing, from 70.44% in the prior quarter.
- Across five years, Gross Margin topped out at 70.44% in Q4 2025 and bottomed at 65.58% in Q1 2024.
- The 5-year median for Gross Margin is 66.36% (2022), against an average of 67.18%.
- The widest annual swing landed in 2022, when Gross Margin slumped 81 bps; it then surged 307 bps in 2025.
- Tracing SPSC's Gross Margin over 5 years: stood at 65.96% in 2022, then increased by 0 bps to 66.17% in 2023, then gained by 2 bps to 67.48% in 2024, then rose by 4 bps to 70.44% in 2025, then dropped by 2 bps to 69.18% in 2026.
- Per Business Quant, the three latest SPSC Gross Margin figures stand at 69.18% (Q1 2026), 70.44% (Q4 2025), and 69.49% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 72.98% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 77.61% |
| 3 | Uber Technologies | 151.10 Bn | 150.06 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 48.77% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 75.07% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 85.65% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 89.62% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | 48.28% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 79.05% |
| 10 | Sps Commerce | 2.00 Bn | 1.84 Bn | 132.90 Mn | 69.18% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 69.18% |
| Dec 31, 2025 | 70.44% |
| Sep 30, 2025 | 69.49% |
| Jun 30, 2025 | 68.08% |
| Mar 31, 2025 | 68.65% |
| Dec 31, 2024 | 67.48% |
| Sep 30, 2024 | 68.46% |
| Jun 30, 2024 | 66.13% |
| Mar 31, 2024 | 65.58% |
| Dec 31, 2023 | 66.17% |
| Sep 30, 2023 | 66.45% |
| Jun 30, 2023 | 65.84% |
| Mar 31, 2023 | 65.87% |
| Dec 31, 2022 | 65.96% |
| Sep 30, 2022 | 66.28% |
| Jun 30, 2022 | 65.62% |
| Mar 31, 2022 | 66.36% |
| Dec 31, 2021 | 65.32% |
| Sep 30, 2021 | 64.92% |
| Jun 30, 2021 | 66.44% |
| Mar 31, 2021 | 66.73% |
| Dec 31, 2020 | 67.68% |
| Sep 30, 2020 | 68.52% |
| Jun 30, 2020 | 67.81% |
| Mar 31, 2020 | 68.27% |
| Dec 31, 2019 | 67.13% |
| Sep 30, 2019 | 67.20% |
| Jun 30, 2019 | 65.42% |
| Mar 31, 2019 | 68.08% |
| Dec 31, 2018 | 67.51% |
| Sep 30, 2018 | 67.53% |
| Jun 30, 2018 | 66.60% |
| Mar 31, 2018 | 66.56% |
| Dec 31, 2017 | 66.48% |
| Sep 30, 2017 | 66.74% |
| Jun 30, 2017 | 66.37% |
| Mar 31, 2017 | 66.60% |
| Dec 31, 2016 | 66.08% |
| Sep 30, 2016 | 67.19% |
| Jun 30, 2016 | 66.27% |
| Mar 31, 2016 | 67.37% |
| Dec 31, 2015 | 68.27% |
| Sep 30, 2015 | 68.53% |
| Jun 30, 2015 | 68.25% |
| Mar 31, 2015 | 68.70% |
| Dec 31, 2014 | 68.54% |
| Sep 30, 2014 | 69.33% |
| Jun 30, 2014 | 69.05% |
| Mar 31, 2014 | 68.02% |
| Dec 31, 2013 | 69.53% |
| Sep 30, 2013 | 69.46% |
| Jun 30, 2013 | 69.04% |
| Mar 31, 2013 | 70.25% |
| Dec 31, 2012 | 69.74% |
| Sep 30, 2012 | 70.67% |
| Jun 30, 2012 | 72.82% |
| Mar 31, 2012 | 73.10% |
| Dec 31, 2011 | 73.39% |
| Sep 30, 2011 | 73.75% |
| Jun 30, 2011 | 73.09% |
| Mar 31, 2011 | 73.74% |
| Dec 31, 2010 | 72.04% |
| Sep 30, 2010 | 72.06% |
| Jun 30, 2010 | 71.66% |