Sps Commerce (SPSC) Gross Margin (2010 - 2026)
Sps Commerce's Gross Margin was 71.11% in Q3 2026, up 1.62 percentage points from 69.49% a year earlier and up 0.95 percentage points from the prior quarter.
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Analysis
Sps Commerce (SPSC) Gross Margin (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Sps Commerce's Gross Margin was 70.23% through Sep 30, 2026, up 1.78 percentage points year-over-year; for FY2025, it came in at 69.18%, up 2.22 percentage points from FY2024.
- Gross Margin has now increased for four consecutive years, with a five-year change of +1.11 percentage points (FY2020 to FY2025).
- In earlier years, Gross Margin was 66.96% in FY2024 (+0.87 pp), 66.09% in FY2023 (+0.04 pp), 66.05% in FY2022 (+0.23 pp) and 65.82% in FY2021 (-2.24 pp).
- The Q3 2026 figure marks the highest quarterly Gross Margin since Q2 2012.
- Compared with a year earlier, Gross Margin has increased for ten straight quarters, with an average year-over-year change of +1.82 percentage points over the last eight quarters.
- The best year-over-year quarter for Gross Margin over five years was Q1 2025 (a gain of 3.07 percentage points); the worst was Q4 2021 (a drop of 2.36 percentage points).
- Per Business Quant data, SPSC's Gross Margin in the three quarters before Q3 2026 was 70.16% (Q2 2026), 69.18% (Q1 2026) and 70.44% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 49.39 Bn | 21.63 Bn | 695.95 Mn | 75.00% |
| 3 | Samsara | 23.96 Bn | 20.73 Bn | 392.58 Mn | 77.21% |
| 4 | Ptc | 22.37 Bn | 21.18 Bn | 490.47 Mn | 81.74% |
| 5 | Toast | 20.05 Bn | 12.69 Bn | 543.00 Mn | 27.41% |
| 6 | Manhattan Associates | 14.85 Bn | 13.91 Bn | 174.30 Mn | 56.93% |
| 7 | Bentley Systems | 13.89 Bn | 13.37 Bn | 349.55 Mn | 82.93% |
| 8 | Trimble | 12.57 Bn | 11.65 Bn | 659.10 Mn | 68.17% |
| 9 | Costar | 12.28 Bn | 7.66 Bn | 741.00 Mn | 77.84% |
| 10 | Sps Commerce | 2.94 Bn | 2.28 Bn | 140.55 Mn | 71.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 71.11% |
| 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% |
API Access
Sps Commerce Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=SPSC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "SPSC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=SPSC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();