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% quarter-over-quarter 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.
- Gross Margin for Q1 2026 came in at 69.18%, up 53.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 69.3% (up 158.0% YoY), and the FY2025 annual result was 69.18%, up 222.0% from the prior year.
- Gross Margin fell to 69.18% in Q1 2026 per SPSC's latest filing, from 70.44% in the prior quarter.
- Over five years, Gross Margin peaked at 70.44% in Q4 2025 and troughed at 65.58% in Q1 2024.
- A 5-year average of 67.18% and a median of 66.36% in 2022 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2025: Gross Margin plunged 81 bps in 2022, then jumped 307 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 65.96% in 2022, then gained by 0 bps to 66.17% in 2023, then climbed by 2 bps to 67.48% in 2024, then advanced by 4 bps to 70.44% in 2025, then fell by 2 bps to 69.18% in 2026.
- Business Quant data shows SPSC's Gross Margin at 69.18% in Q1 2026, 70.44% in Q4 2025, and 69.49% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | Sps Commerce | 2.05 Bn | 1.90 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% |