SPS COMMERCE INC — Form 8-K
Filed July 30, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
SPS Commerce divested its 3P Revenue Recovery business on June 30, 2026, reducing H2 2026 revenue guidance by ~$10.5M while remaining neutral to Adjusted EBITDA. Q2 2026 revenue was $197.8M (+6% YoY), beating guidance; Adjusted EBITDA grew 19% to $66.6M. FY2026 guidance raised: revenue $788.4–$793.4M (5–6% growth), Adjusted EBITDA $264.6–$269.1M (34% margin at midpoint, +300 bps vs FY2025). Company repurchased $51.2M shares in Q2.
Why this rating
Divestiture is modest (~$10.5M or 0.2% of company market cap); offset by strong Q2 beat, margin expansion, and AI momentum (MAX product). Below guidance change threshold but real FY execution.
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