Cloud-Based Supply Chain Management and Retail Software
Strategic Profile
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.
Cyborg Score Rationale
The company's profitability metrics remain strong with 100 consecutive quarters of revenue growth and solid adjusted EBITDA margins (24% growth YoY). However, shares have declined 60% over the past year despite operational strength, and slower 2026 growth guidance challenges earlier assumptions about robust revenue expansion.
Top Insights
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
Facing headwinds from customer invoice scrutiny and spend caution, particularly impacting fulfillment and revenue recovery segments
Board increased share repurchase authorization to $300 million, reflecting management confidence and shareholder-focused capital allocation strategy
Named Competitors
Enterprise Cloud Solutions — Global enterprise software provider competing in supply chain and retail operations
Enterprise Resource Planning — Leading ERP provider with supply chain and retail management capabilities
Supply Chain Solutions — Specialist in supply chain, omnichannel commerce and logistics software
Recent Developments
(February 2026) Launched MAX platform with new AI-driven features and capabilities
(February 2026) Appointed Michael McConnell and Fumbi Chima as independent directors to strengthen board expertise
(February 2026) CEO Chadwick Collins sold approximately $785,000 of stock under pre-arranged plan; presented at Morgan Stanley Technology, Media & Telecom Conference
(February 2026) Reported Q4 2025 results showing 13% revenue growth to $192.7M and full-year revenue of $751.5M (up 18%)
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