Description

SPS Commerce Is Expanding Its Total Addressable Market (TAM) & Wallet Share But Does It Warrant A ‘Buy’ Rating? 

SPS Commerce has reported a strong performance for the fourth quarter and full-year 2024, showcasing a notable growth trajectory. For the full year, the company’s revenue increased by 19% to $637.8 million, with recurring revenue rising by 20%. Fulfillment and analytics sectors also saw significant growth, with the former growing by 20% and the latter by 8%. The company’s customer base expanded, now comprising approximately 45,350 recurring revenue customers, with a wallet share of approximately $13,300 per customer.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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