Sps Commerce (SPSC) Gross Margin (2010 - 2026)
Sps Commerce (SPSC) posted quarterly Gross Margin of 70.16% for Q2 2026, up 208.0% year-over-year from 22.78% in Q2 2025, and up 1.42% quarter-over-quarter from 69.18% in Q1 2026.
Sps Commerce (SPSC) Gross Margin (2010 - 2026) Analysis & Trends
Sps Commerce (SPSC) has reported Gross Margin for 17 consecutive years, with 70.16% the latest figure, recorded in Q2 2026.
- In Q2 2026, Gross Margin rose 208.0% year-over-year to 70.16%; the TTM figure through Jun 2026 stood at 69.82% (up 165.0% YoY), while the FY2025 annual figure was 69.18%, up 222.0% from the prior year.
- Gross Margin rose to 70.16% in Q2 2026 per SPSC's latest filing, from 69.18% 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.
- Historically, Gross Margin has averaged 67.34% across 5 years, with a median of 66.4% in 2022.
- Annual changes were most pronounced in 2022 — Gross Margin plunged 81 bps — and 2025, when it jumped 307 bps.
- Sps Commerce's Gross Margin stood at 65.96% in 2022, then advanced by 0 bps to 66.17% in 2023, then grew by 2 bps to 67.48% in 2024, then climbed by 4 bps to 70.44% in 2025, then fell by 0 bps to 70.16% in 2026.
- Business Quant data shows SPSC's Gross Margin at 70.16% in Q2 2026, 69.18% in Q1 2026, and 70.44% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 73.08% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 47.67% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 76.92% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 44.93% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 70.68% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 66.61% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 45.88% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 89.20% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 84.61% |
| 10 | Sps Commerce | 2.87 Bn | 2.70 Bn | 138.79 Mn | 70.16% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 70.16% |
| 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% |