Core Insights - SPS Commerce achieved its 99th consecutive quarter of revenue growth, with third quarter 2025 revenue increasing by 16% to $189.9 million compared to $163.7 million in the same quarter of 2024 [1][6] - Recurring revenue for the same period grew by 18% year-over-year [1][6] - The company appointed Eduardo Rosini as the new Chief Commercial Officer, succeeding Dan Juckniess, who will retire at the end of 2025 [1][4][5] - A new share repurchase program was announced, authorizing the repurchase of up to $100 million of common stock [1][6] Financial Performance - Net income for Q3 2025 was $25.6 million, or $0.67 per diluted share, compared to $23.5 million, or $0.62 per diluted share in Q3 2024 [6][25] - Non-GAAP income per diluted share increased to $1.13 from $0.92 in the same quarter last year [6][31] - Adjusted EBITDA rose by 25% to $60.5 million compared to Q3 2024 [6][30] Executive Changes - Eduardo Rosini brings over 30 years of experience in growth and customer lifecycle management, previously serving in leadership roles at Sage, Intuit, and Microsoft [4][5] - The transition in leadership is expected to support the company's next phase of growth [5] Share Repurchase Program - The share repurchase program will be effective from December 1, 2025, and will expire on December 1, 2027 [6][7] - The company plans to finance the repurchase program using cash on hand [7] Market Position and Outlook - SPS Commerce is positioned as a leader in retail supply chain cloud services, emphasizing collaboration and automation among trading partners [3] - The company expresses confidence in its sustainable and profitable growth, supported by multiple growth drivers and a large addressable market [3]