Sps Commerce (SPSC) Gross Margin (2010 - 2026)

Sps Commerce's (SPSC) quarterly Gross Margin came in at 69.18% in Q1 2026, up 53.0% year-on-year from 45.21% in Q1 2025, and down 1.79% on a QoQ basis from 70.44% in Q4 2025.

Sps Commerce (SPSC) Gross Margin (2010 - 2026) Analysis & Trends

Sps Commerce (SPSC) has 17 years of Gross Margin data on file, last reported at 69.18% in Q1 2026.

  • On a quarterly basis, Gross Margin rose 53.0% year-over-year to 69.18% in Q1 2026; TTM through Mar 2026 was 69.3%, a 158.0% increase from a year earlier, with the FY2025 full-year figure at 69.18%, up 222.0% from the prior year.
  • Gross Margin for Q1 2026 stood at 69.18%, down from 70.44% in the prior quarter.
  • Over the last five years, Gross Margin for SPSC reached as high as 70.44% in Q4 2025 and fell as low as 65.58% in Q1 2024.
  • Historically, Gross Margin has averaged 67.18% across 5 years, with a median of 66.36% in 2022.
  • Across the five-year window, Gross Margin slumped 81 bps in 2022 and surged 307 bps in 2025, its largest moves.
  • Year by year, Gross Margin stood at 65.96% in 2022, then grew by 0 bps to 66.17% in 2023, then rose by 2 bps to 67.48% in 2024, then increased by 4 bps to 70.44% in 2025, then slipped by 2 bps to 69.18% in 2026.
  • Per Business Quant data, the three most recent Gross Margin figures were 69.18% in Q1 2026, 70.44% in Q4 2025, and 69.49% in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Gross Margin (Qtr)
1 Sap Se 208.91 Bn 189.27 Bn 8.16 Bn 72.98%
2 Full Truck Alliance 188.77 Bn 186.13 Bn - -
3 Shopify 145.98 Bn 140.23 Bn 1.55 Bn 48.77%
4 Uber Technologies 141.48 Bn 140.44 Bn 5.95 Bn 45.03%
5 Salesforce 128.51 Bn 116.67 Bn 8.56 Bn 76.92%
6 ServiceNow 98.38 Bn 93.20 Bn 2.82 Bn 70.68%
7 Automatic Data Processing 97.56 Bn 94.34 Bn 2.87 Bn 48.28%
8 Snowflake 91.55 Bn 88.59 Bn 926.45 Mn 66.61%
9 Cadence Design Systems 89.91 Bn 88.50 Bn 1.41 Bn 95.85%
10 Sps Commerce 2.37 Bn 2.22 Bn 132.90 Mn 69.18%

Historic Data

Download Data
DateValue
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%