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Side-by-side financial comparison of DMC Global Inc. (BOOM) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
SPS COMMERCE INC is the larger business by last-quarter revenue ($192.7M vs $143.5M, roughly 1.3× DMC Global Inc.). SPS COMMERCE INC runs the higher net margin — 13.4% vs -7.8%, a 21.2% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs -5.8%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $9.6M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs -7.3%).
DMC Mining Services is a mining services contractor founded in 1980 operating in Canada, the United States, Chile, and Mongolia
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
BOOM vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $192.7M |
| Net Profit | $-11.2M | $25.8M |
| Gross Margin | 17.1% | 70.4% |
| Operating Margin | -7.8% | 18.0% |
| Net Margin | -7.8% | 13.4% |
| Revenue YoY | -5.8% | 12.7% |
| Net Profit YoY | -3871.6% | 47.2% |
| EPS (diluted) | $-0.60 | $0.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $143.5M | $192.7M | ||
| Q3 25 | $151.5M | $189.9M | ||
| Q2 25 | $155.5M | $187.4M | ||
| Q1 25 | $159.3M | $181.5M | ||
| Q4 24 | $152.4M | $170.9M | ||
| Q3 24 | $152.4M | $163.7M | ||
| Q2 24 | $171.2M | $153.6M | ||
| Q1 24 | $166.9M | $149.6M |
| Q4 25 | $-11.2M | $25.8M | ||
| Q3 25 | $-3.1M | $25.6M | ||
| Q2 25 | $116.0K | $19.7M | ||
| Q1 25 | $677.0K | $22.2M | ||
| Q4 24 | $296.0K | $17.6M | ||
| Q3 24 | $-101.3M | $23.5M | ||
| Q2 24 | $4.0M | $18.0M | ||
| Q1 24 | $2.6M | $18.0M |
| Q4 25 | 17.1% | 70.4% | ||
| Q3 25 | 21.7% | 69.5% | ||
| Q2 25 | 23.6% | 68.1% | ||
| Q1 25 | 25.9% | 68.7% | ||
| Q4 24 | 20.8% | 67.5% | ||
| Q3 24 | 19.8% | 68.5% | ||
| Q2 24 | 27.1% | 66.1% | ||
| Q1 24 | 25.4% | 65.6% |
| Q4 25 | -7.8% | 18.0% | ||
| Q3 25 | 0.4% | 16.4% | ||
| Q2 25 | 2.5% | 14.1% | ||
| Q1 25 | 4.1% | 14.3% | ||
| Q4 24 | -0.5% | 14.5% | ||
| Q3 24 | -97.7% | 15.6% | ||
| Q2 24 | 6.8% | 15.1% | ||
| Q1 24 | 4.0% | 10.3% |
| Q4 25 | -7.8% | 13.4% | ||
| Q3 25 | -2.0% | 13.5% | ||
| Q2 25 | 0.1% | 10.5% | ||
| Q1 25 | 0.4% | 12.2% | ||
| Q4 24 | 0.2% | 10.3% | ||
| Q3 24 | -66.5% | 14.3% | ||
| Q2 24 | 2.3% | 11.7% | ||
| Q1 24 | 1.5% | 12.0% |
| Q4 25 | $-0.60 | $0.69 | ||
| Q3 25 | $-0.10 | $0.67 | ||
| Q2 25 | $-0.24 | $0.52 | ||
| Q1 25 | $0.04 | $0.58 | ||
| Q4 24 | $-0.18 | $0.46 | ||
| Q3 24 | $-8.27 | $0.62 | ||
| Q2 24 | $0.24 | $0.48 | ||
| Q1 24 | $0.01 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $31.9M | $151.4M |
| Total DebtLower is stronger | $50.6M | — |
| Stockholders' EquityBook value | $242.1M | $973.9M |
| Total Assets | $635.8M | $1.2B |
| Debt / EquityLower = less leverage | 0.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.9M | $151.4M | ||
| Q3 25 | $26.4M | $133.7M | ||
| Q2 25 | $12.4M | $107.6M | ||
| Q1 25 | $14.7M | $94.9M | ||
| Q4 24 | $14.3M | $241.0M | ||
| Q3 24 | $14.5M | $205.8M | ||
| Q2 24 | $14.6M | $271.8M | ||
| Q1 24 | $20.4M | $290.8M |
| Q4 25 | $50.6M | — | ||
| Q3 25 | $56.5M | — | ||
| Q2 25 | $58.7M | — | ||
| Q1 25 | $72.4M | — | ||
| Q4 24 | $70.8M | — | ||
| Q3 24 | $74.2M | — | ||
| Q2 24 | $84.1M | — | ||
| Q1 24 | $88.0M | — |
| Q4 25 | $242.1M | $973.9M | ||
| Q3 25 | $253.0M | $958.9M | ||
| Q2 25 | $253.9M | $949.8M | ||
| Q1 25 | $253.9M | $920.9M | ||
| Q4 24 | $251.0M | $854.7M | ||
| Q3 24 | $256.5M | $829.4M | ||
| Q2 24 | $416.0M | $703.4M | ||
| Q1 24 | $409.9M | $683.0M |
| Q4 25 | $635.8M | $1.2B | ||
| Q3 25 | $644.1M | $1.2B | ||
| Q2 25 | $645.0M | $1.1B | ||
| Q1 25 | $670.6M | $1.1B | ||
| Q4 24 | $671.3M | $1.0B | ||
| Q3 24 | $702.0M | $1.0B | ||
| Q2 24 | $869.5M | $854.5M | ||
| Q1 24 | $860.0M | $839.8M |
| Q4 25 | 0.21× | — | ||
| Q3 25 | 0.22× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.29× | — | ||
| Q2 24 | 0.20× | — | ||
| Q1 24 | 0.21× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $15.2M | $45.9M |
| Free Cash FlowOCF − Capex | $9.6M | $38.2M |
| FCF MarginFCF / Revenue | 6.7% | 19.8% |
| Capex IntensityCapex / Revenue | 3.9% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $37.0M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.2M | $45.9M | ||
| Q3 25 | $18.6M | $60.6M | ||
| Q2 25 | $15.2M | $32.3M | ||
| Q1 25 | $4.5M | $40.0M | ||
| Q4 24 | $11.8M | $40.6M | ||
| Q3 24 | $19.0M | $53.3M | ||
| Q2 24 | $2.3M | $29.4M | ||
| Q1 24 | $13.4M | $34.1M |
| Q4 25 | $9.6M | $38.2M | ||
| Q3 25 | $14.4M | $54.6M | ||
| Q2 25 | $12.3M | $25.7M | ||
| Q1 25 | $709.0K | $33.8M | ||
| Q4 24 | $6.1M | $34.3M | ||
| Q3 24 | $12.9M | $48.1M | ||
| Q2 24 | $-204.0K | $24.4M | ||
| Q1 24 | $10.5M | $30.5M |
| Q4 25 | 6.7% | 19.8% | ||
| Q3 25 | 9.5% | 28.7% | ||
| Q2 25 | 7.9% | 13.7% | ||
| Q1 25 | 0.4% | 18.6% | ||
| Q4 24 | 4.0% | 20.1% | ||
| Q3 24 | 8.5% | 29.4% | ||
| Q2 24 | -0.1% | 15.9% | ||
| Q1 24 | 6.3% | 20.4% |
| Q4 25 | 3.9% | 4.0% | ||
| Q3 25 | 2.8% | 3.2% | ||
| Q2 25 | 1.9% | 3.6% | ||
| Q1 25 | 2.4% | 3.4% | ||
| Q4 24 | 3.7% | 3.6% | ||
| Q3 24 | 4.0% | 3.2% | ||
| Q2 24 | 1.5% | 3.3% | ||
| Q1 24 | 1.8% | 2.4% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | 131.43× | 1.64× | ||
| Q1 25 | 6.63× | 1.80× | ||
| Q4 24 | 39.90× | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | 0.58× | 1.63× | ||
| Q1 24 | 5.24× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BOOM
| Dyna Energetics Segment | $68.9M | 48% |
| Other | $57.0M | 40% |
| Nobel Clad Segment | $17.7M | 12% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
