SPS Commerce Stockholders Approve Director Slate, Auditor, and Executive Compensation in 2025 Annual Meeting

SPS Commerce, Inc. announced the results of its 2025 Annual Meeting of Stockholders held on May 13. All director nominees were elected to serve until the 2026 annual meeting, including Chad Collins, Razat Gaurav, Marty Réaume, Tami Reller, Philip Soran, Anne Sempowski Ward, and Sven Wehrwein. Each received majority support, with vote totals ranging from approximately 32.1 to 33.2 million shares in favor.

Stockholders also ratified KPMG LLP as the Company’s independent registered public accounting firm for 2025. Additionally, an advisory vote to approve the compensation of named executive officers passed with 31.9 million votes in favor.

In the advisory vote on the frequency of Say-on-Pay proposals, a majority supported holding such votes annually. The Board confirmed it will continue to follow an annual schedule.

SPS Commerce reported first quarter 2025 financial results with 21% year-over-year revenue growth, marking its 97th consecutive quarter of topline growth. Revenue reached $181.5 million, driven by a 23% rise in recurring revenue. Net income was $22.2 million ($0.58 per diluted share), up from $18.0 million ($0.48) a year prior. On a non-GAAP basis, income per diluted share was $1.00 versus $0.86. Adjusted EBITDA rose 22% to $54.4 million. The company also repurchased $40 million in shares during the quarter.

For Q2 2025, revenue is expected between $184.5 million and $186.2 million, with non-GAAP EPS between $0.87 and $0.90. Full-year 2025 guidance includes revenue of $758.5–$763.0 million and non-GAAP EPS of $3.86–$3.93. Despite macro uncertainty, SPS remains confident in growth and margin expansion due to strong demand for its supply chain solutions.