Company / R&D Expense
SPS Commerce, Inc. R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$68.7M
FY2025
5-year range
$28.3M / $68.7M
FY2021-FY2025
Trend
+9.3%
vs FY2024
Sector context
#215 of 264
Information Technology
What the data says
SPS Commerce, Inc.'s r&d expense of $69M is lower than 81% of companies in the Information Technology sector (FY2025). R&D Expense has increased for 5 consecutive years, from $22M in FY2020 to $69M in FY2025.
Based on SEC 10-K filings.
$69M in FY2025 with a 5-year CAGR of +25.5%.
Improved from $54M to $69M over the past 2 years.
Information Technology sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +30.3%
- 5-Year CAGR
- +25.5%
- 10-Year CAGR
- -
Sector benchmark
Bottom 19% in Information TechnologyTop 81% of 264This company $68.7M Sector average $924.6M
▼
-92.6% below sector average
Key checks
Key Insights
- SPS Commerce, Inc.'s r&d expense has grown for 5 consecutive years.
- 5-year CAGR of +25.5%, indicating consistent growth.
- In FY2025, r&d expense increased 9.3% year-over-year.
- Ranks #215 out of 264 companies in the Information Technology sector.
Company context
Key Data Points
- Altman Z-Score 3.46 (safe zone, above 2.9 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $68.7M | +9.3% |
| FY2024 | $62.8M | +17.1% |
| FY2023 | $53.7M | +72.9% |
| FY2022 | $31.0M | +9.6% |
| FY2021 | $28.3M | +28.2% |
| FY2020 | $22.1M | -4.7% |
| FY2019 | $23.2M | +5.0% |
| FY2018 | $22.1M | -4.7% |
| FY2017 | $23.2M | +5.5% |
| FY2016 | $22.0M | +102.2% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026