SPS Commerce, Inc. (NASDAQ:SPSC) Q1 2024 Earnings Conference Call April 25, 2024 4:30 PM ET

Company Participants

Irmina Blaszczyk - Investor Relations
Chad Collins - Chief Executive Officer
Kim Nelson - Executive Vice President & Chief Financial Officer

Conference Call Participants

Scott Berg - Needham
Parker Lane - Stifel
Dylan Becker - William Blair
George Kurosawa - Citi
Joe Vruwink - Baird
Mark Schappel - Loop Capital Markets

Operator

Good day and welcome to the SPS Commerce First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Irmina Blaszczyk, Investor Relations for SPS Commerce. Please go ahead.

Irmina Blaszczyk

Thank you, Drew. Good afternoon, everyone and thank you for joining us on SPS first quarter 2024 conference call.

We will make certain statements today including with respect to our expected financial results, go-to-market strategy and efforts designed to increase our traction and penetration with retailers and other customers. These statements are forward-looking and involve a number of risks and uncertainties that could cause actual results to differ materially. Please note, these forward-looking statements reflect our opinions only as of the date of this call and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to our SEC filings, specifically our Form 10-K as well as our financial results press release for a more detailed description of the risk factors that may affect our results. These documents are available at our website, spscommerce.com and at the SEC's website, sec.gov. In addition, we are providing a historical data sheet for easy reference on our Investor Relations section of our website, spscommerce.com.

During our call today, we will discuss adjusted EBITDA financial measures and non-GAAP income per share. In our press release and our filings with the SEC, each of which is posted on our website, you will find additional disclosures regarding these non-GAAP financial measures, including reconciliations of these measures, with comparable GAAP measures.

And with that, I will turn the call over to Chad.

Chad Collins

Thanks, Irmina and good afternoon, everyone. Thank you for joining us today. We delivered a strong start to the year. First quarter revenue grew 19% to $149.6 million. Recurring revenue also grew 19%. As a leader in supply chain cloud services, we are capitalizing on ongoing investments in automation.