The following is a summary of the SPS Commerce, Inc. (SPSC) Q1 2024 Earnings Call Transcript:
Financial Performance:
SPS Commerce reported Q1 revenue at $149.6 million, marking a 19% increase from last year, their 93rd consecutive revenue growth quarter.
The adjusted EBITDA also saw a 20% growth to $44.4 million.
The company expects the Q2 2024 revenue to range from $150.9 million to $151.7 million, indicating a 16% YoY growth.
The anticipated revenue for the full year 2024 lies between $619.9 million and $621.9 million, signifying approximately a 15% to 16% YoY growth.
Business Progress:
SPS Commerce is expanding their network with new channel partnerships and ERP integration technology acquisitions.
They are also focusing on areas of growth such as automation, supply chain resilience, and retail trend analysis, supported by partnerships with key players like Canadian Tire and GNC.
The company's recent community enablement campaign and acquisition of TIE Kinetix contributed to their solid business performance.
The company is also investing heavily in supply chain solutions due to industry disruptions and changing consumer expectations, promising continued technology investments.
The company's growth prospects are positive with an expected growth rate of 15% or higher.
More details: SPS Commerce IR
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