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SPS Commerce, Inc.: Business Overview, Financials & Competitive Analysis

SPS Commerce, Inc. scores 6/10 on the AskCyborg Cyborg Score (Solid). SPS Commerce's large global retail network and recurring cloud-based revenue model position it to compete effectively with supply chain leaders like Oracle, SAP and Manhattan Associates, supporting resilience despite near-term growth headwinds.

What is SPS Commerce, Inc.'s industry? SPS Commerce, Inc. (spscommerce.com) operates in Cloud-Based Supply Chain Management and Retail Software. AskCyborg classifies SPS Commerce, Inc. under Cloud-Based Supply Chain Management and Retail Software in its company registry.

SPS Commerce provides cloud-based supply chain management solutions that help retailers, grocers, suppliers, manufacturers, distributors, and logistics firms manage omnichannel and supply chain business requirements. ...

6/ 10Solid

Cyborg Score thesis

SPS Commerce's large global retail network and recurring cloud-based revenue model position it to compete effectively with supply...

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Industry Cloud-Based Supply Chain Management and Retail Software
3 named competitors
4 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: October 19, 2026
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What's in This Report
SPS Commerce, Inc. OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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SPS Commerce, Inc. Overview

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SPS Commerce provides cloud-based supply chain management solutions that help retailers, grocers, suppliers, manufacturers, distributors, and logistics firms manage omnichannel and supply chain business requirements. The platform automates order processing, inventory management and fulfillment workflows through EDI capabilities, improving data accuracy and accelerating order-to-cash cycles across retail, grocery, consumer goods and automotive industries.

Strategic Profile

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The company achieved its 100th consecutive quarter of revenue growth, with 2025 full-year revenue of $751.5 million (up 18%) and adjusted EBITDA of $231.4 million (up 24%). SPS serves more than 50,000 recurring revenue customers and runs a profitable, cash-generating SaaS platform. However, the market has focused on moderating 2026 guidance projecting 6-7% revenue growth, reflecting headwinds from customer spend scrutiny and macro caution.

Competitive Landscape

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SPS Commerce competes with enterprise software giants including Oracle, SAP and Manhattan Associates in supply chain and retail software markets. The company differentiates through its large existing retail network, recurring SaaS revenue model, and specialized focus on supply chain digitalization and EDI capabilities serving 50,000+ recurring customers.

Industry Context

SPS Commerce, Inc. operates in Cloud-Based Supply Chain Management and Retail Software.

Key facts

Founded: 1987 · Headquarters: Minneapolis, United States · Revenue: $751.5M · Market cap: $3.0B

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on SPS Commerce, Inc..

  • Achieved 100th consecutive quarter of revenue growth with Q4 2025 revenue growth of 13% to $192.7 million and recurring revenue up 14% YoY
  • Stock down 60% over the past year despite strong operational metrics, suggesting potential valuation opportunity for value investors
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Launched MAX platform with new AI-driven features and capabilities
  • February 2026Appointed Michael McConnell and Fumbi Chima as independent directors to strengthen board expertise
  • +2 moreTrack every material event for SPS Commerce, Inc. as it happens. Explore monitoring →
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Enterprise Cloud SolutionsGlobal enterprise software provider competing in supply chain and retail operations→Enterprise Resource PlanningLeading ERP provider with supply chain and retail management capabilities→Supply Chain SolutionsSpecialist in supply chain, omnichannel commerce and logistics software→

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Industry context

SPS Commerce, Inc. operates in Cloud-Based Supply Chain Management and Retail Software. See how the rest of the sector scores on the Cyborg framework.

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How AskCyborg research is made

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The Cyborg Score and recent developments reflect public sources as of the date shown and can miss or lag recent events. Check primary sources before relying on them.

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AI-generated research summary based on public sources; it may contain errors or omissions. Not investment advice. Not reviewed or endorsed by the companies covered. Report an error: legal@askcyborg.com · Terms of Service

Frequently asked questions

What does SPS Commerce, Inc. do?+
SPS Commerce provides cloud-based supply chain management solutions that help retailers, grocers, suppliers, manufacturers, distributors, and logistics firms manage omnichannel and supply chain business requirements. ...
What is SPS Commerce, Inc.'s Cyborg Score?+
SPS Commerce, Inc. has a Cyborg Score of 6/10 (Solid). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are SPS Commerce, Inc.'s main competitors?+
Named competitors include Enterprise Cloud Solutions, Enterprise Resource Planning, Supply Chain Solutions. The full competitive landscape is in the AskCyborg report.
How can I get the full SPS Commerce, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the SPS Commerce, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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