Core Insights - SPS Commerce achieved its 100th consecutive quarter of revenue growth, with fourth quarter 2025 revenue increasing by 13% to $192.7 million compared to $170.9 million in the fourth quarter of 2024 [5][7] - The company announced the planned retirement of its Chief Financial Officer, Kim Nelson, and the appointment of Joseph Del Preto as the new Chief Financial Officer effective March 16, 2026 [6][9] - An increase in the share repurchase program was approved, raising the total authorized repurchase amount to $300 million [10] Financial Highlights - Fourth quarter 2025 recurring revenue grew by 14% compared to the fourth quarter of 2024 [7] - Net income for the fourth quarter of 2025 was $25.8 million, or $0.68 per diluted share, up from $17.6 million, or $0.46 per diluted share in the fourth quarter of 2024, reflecting a 47% increase in net income [7] - Adjusted EBITDA for the fourth quarter of 2025 increased by 22% to $60.5 million compared to the fourth quarter of 2024 [7] - For the fiscal year 2025, total revenue was $751.5 million, an 18% increase from $637.8 million in 2024 [7] - Recurring revenue for the fiscal year 2025 grew by 20% compared to the previous year [7] - Net income for the fiscal year 2025 was $93.3 million, or $2.46 per diluted share, a 21% increase from $77.1 million, or $2.04 per diluted share in 2024 [7] Executive Changes - Kim Nelson will remain with SPS Commerce through a customary transition period following her retirement announcement [8] - Joseph Del Preto brings over 20 years of experience in finance and operational strategy, having previously served as CFO and Treasurer of Sprout Social, Inc. [6][9] Share Repurchase Program - The Board of Directors approved an additional $200 million in repurchase authority under the existing share repurchase program, which was initially set for $100 million [10]