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Get filing alertsSPS Commerce reports Q2 beat, divests 3P Revenue Recovery for $23.5M loss
Filed July 30, 2026 · Period ending July 30, 2026 · ~2 min read
Key Changes
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high
Q2 revenue $197.8M (+6% YoY) exceeded guidance; non-GAAP EPS $1.27 (+27% YoY) and Adjusted EBITDA $66.6M (+19% YoY) both beat. GAAP net income fell to $6.9M ($0.19/share) from $19.7M ($0.52/share) due to divestiture loss.
Item 2.02 verify on EDGAR → -
high
Divested 3P Revenue Recovery business June 30, 2026 for $23.5M loss. Divestiture removes ~$10.5M revenue in H2 2026 but is Adjusted EBITDA-neutral, indicating the unit was low-margin or unprofitable.
Exhibit 99.1 view on EDGAR → -
high
Raised full-year 2026 guidance post-divestiture: revenue $788.4M–$793.4M (5–6% growth), non-GAAP EPS $4.84–$4.93, Adjusted EBITDA $264.6M–$269.1M. Adjusted EBITDA margin expands 300 bps to 34% at midpoint.
Exhibit 99.1 view on EDGAR → -
medium
Repurchased $51.2M of stock in Q2 2026 ($98.4M year-to-date vs. $59.6M in H1 2025), accelerating capital return. Company disclosed plans for ongoing share repurchases, though timing and size not specified.
Item 2.02 verify on EDGAR → -
medium
MAX AI product in beta delivered hundreds of thousands of dollars in savings per customer in three months; full launch to all SPS Fulfillment customers planned for late summer 2026.
Exhibit 99.1 view on EDGAR →
Summary
SPS Commerce reported Q2 2026 results that exceeded guidance across all metrics, with revenue of $197.8 million (+6% YoY), non-GAAP EPS of $1.27 (+27% YoY), and Adjusted EBITDA of $66.6 million (+19% YoY). GAAP net income fell sharply to $6.9 million from $19.7 million in Q2 2025, driven by a $23.5 million loss on the June 30, 2026 divestiture of the 3P Revenue Recovery business.
The company characterized the divestiture as a strategic move to focus on higher-margin operations: the divested unit will reduce second-half revenue by approximately $10.5 million but is expected to be Adjusted EBITDA-neutral, indicating it was low-margin or unprofitable. Management raised full-year 2026 guidance to reflect the divestiture and strong operational performance.
Revenue is now expected at $788.4 million to $793.4 million (5–6% growth), with Adjusted EBITDA of $264.6 million to $269.1 million, representing a 300 basis point margin expansion to 34% at midpoint. The company accelerated share repurchases to $51.2 million in Q2 ($98.4 million year-to-date) and disclosed plans for ongoing buybacks. SPS also announced that its MAX AI product, currently in beta, has delivered hundreds of thousands of dollars in savings per customer in three months and will launch to all SPS Fulfillment customers later this summer. The filing references upcoming leadership transitions but provides no details on roles, individuals, or timing.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
SPS Commerce disclosed Q2 2026 financial results and announced plans for share repurchases and leadership transitions.
Added in current filing · verify on EDGAR →
On July 30, 2026, SPS Commerce, Inc. (the “Company”) issued a press release disclosing its results of operations and financial condition for our three and six months ended June 30, 2026.
The company disclosed its financial results for the second quarter and first half of 2026. The actual financial metrics are contained in the attached press release (Exhibit 99.1), which is not included in this 8-K body text.
Added in current filing · verify on EDGAR →
the Company’s plans to repurchase shares of its common stock, the timing and amount of any share repurchases under the program, if any, the effects of the repurchase program on future results of operations or financial condition
The company disclosed plans for a share repurchase program. The forward-looking statement language indicates this is a new or updated capital allocation initiative, though specific timing, size, and terms are not detailed in the 8-K body.
Added in current filing · verify on EDGAR →
the timing and impact of the leadership transitions
The company disclosed upcoming leadership transitions. The forward-looking statement section references risks related to these transitions, including potential disruptions, successor experience and expertise, impact on business strategy, and retention of other senior management. Specific roles, individuals, and timing are not detailed in the 8-K body.
Event · Exhibit 99.1
SPS Commerce reported Q2 2026 results exceeding guidance and divested its 3P Revenue Recovery business on June 30, 2026.
Added in current filing · view on EDGAR →
Revenue was $197.8 million in the second quarter of 2026, compared to $187.4 million in the second quarter of 2025, reflecting 6% growth. ... Net income was $6.9 million or $0.19 per diluted share, compared to net income of $19.7 million or $0.52 per diluted share in the second quarter of 2025. ... Non-GAAP income was $46.4 million or $1.27 per diluted share, compared to non-GAAP income of $38.0 million or $1.00 per diluted share in the second quarter of 2025. ... Adjusted EBITDA for the second quarter of 2026 increased 19% to $66.6 million compared to the second quarter of 2025.
SPS Commerce reported Q2 2026 revenue of $197.8 million, up 6% year-over-year, exceeding the high end of guidance. GAAP net income fell to $6.9 million ($0.19 per share) from $19.7 million ($0.52 per share) in Q2 2025, primarily due to a $23.5 million loss on sale of business. Non-GAAP income rose 22% to $46.4 million ($1.27 per share), and Adjusted EBITDA grew 19% to $66.6 million.
Added in current filing · view on EDGAR →
MAX, our agentic capabilities embedded within SPS' supply chain network, has already delivered tangible value to beta users, equating to hundreds of thousands of dollars in savings to individual customers in just a matter of three months. We are excited about MAX’s launch to all SPS Fulfillment customers later this summer
SPS Commerce announced that its MAX AI product, currently in beta, has delivered hundreds of thousands of dollars in savings to individual customers in three months. The company plans to launch MAX to all SPS Fulfillment customers later in summer 2026, representing a significant product expansion leveraging AI and the company's proprietary data.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 31, 2026 · How we verify