SPS Commerce, Inc. R&D Expense History
SPSC / Information Technology|10 years of SEC 10-K data (FY2016-FY2025)
$69M in FY2025 with a 5-year CAGR of +17.2%.
Improved from $54M to $69M over the past 2 years.
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 7 consecutive years, from $22M in FY2018 to $69M in FY2025.
Based on SEC 10-K filings.
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.
- 3-Year CAGR
- +14.5%
- 5-Year CAGR
- +17.2%
- 10-Year CAGR
- -
R&D Expense Trend
Bottom 19% in Information TechnologyTop 81% of 254This company $68.7M Sector average $1.0B
▼
-93.3% below sector average
Key Insights
- SPS Commerce, Inc.'s r&d expense has grown for 7 consecutive years.
- 5-year CAGR of +17.2%, indicating consistent growth.
- In FY2025, r&d expense increased 9.3% year-over-year.
- Ranks #205 out of 254 companies in the Information Technology sector.
Annual Data
| Year | R&D Expense | YoY Growth |
|---|---|---|
| FY2025 | $68.7M | +9.3% |
| FY2024 | $62.8M | +17.1% |
| FY2023 | $53.7M | +17.3% |
| FY2022 | $45.7M | +17.2% |
| FY2021 | $39.0M | +25.8% |
| FY2020 | $31.0M | +9.6% |
| FY2019 | $28.3M | +28.2% |
| FY2018 | $22.1M | -4.7% |
| FY2017 | $23.2M | +5.5% |
| FY2016 | $22.0M | +22.4% |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026