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Side-by-side financial comparison of Civeo Corp (CVEO) 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 $161.6M, roughly 1.2× Civeo Corp). SPS COMMERCE INC runs the higher net margin — 13.4% vs -4.0%, a 17.4% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 7.1%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $14.5M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs -1.4%).
The Civeo Corporation is an American accommodation services multinational corporation. It is a spin-off of Oil States International. It is a public company listed on the New York Stock Exchange.
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.
CVEO vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $161.6M | $192.7M |
| Net Profit | $-6.5M | $25.8M |
| Gross Margin | 22.7% | 70.4% |
| Operating Margin | -0.1% | 18.0% |
| Net Margin | -4.0% | 13.4% |
| Revenue YoY | 7.1% | 12.7% |
| Net Profit YoY | 58.1% | 47.2% |
| EPS (diluted) | $-0.58 | $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 | $161.6M | $192.7M | ||
| Q3 25 | $170.5M | $189.9M | ||
| Q2 25 | $162.7M | $187.4M | ||
| Q1 25 | $144.0M | $181.5M | ||
| Q4 24 | $151.0M | $170.9M | ||
| Q3 24 | $176.3M | $163.7M | ||
| Q2 24 | $188.7M | $153.6M | ||
| Q1 24 | $166.1M | $149.6M |
| Q4 25 | $-6.5M | $25.8M | ||
| Q3 25 | $-455.0K | $25.6M | ||
| Q2 25 | $-3.3M | $19.7M | ||
| Q1 25 | $-9.8M | $22.2M | ||
| Q4 24 | $-15.4M | $17.6M | ||
| Q3 24 | $-5.1M | $23.5M | ||
| Q2 24 | $8.2M | $18.0M | ||
| Q1 24 | $-5.1M | $18.0M |
| Q4 25 | 22.7% | 70.4% | ||
| Q3 25 | 25.7% | 69.5% | ||
| Q2 25 | 25.3% | 68.1% | ||
| Q1 25 | 20.4% | 68.7% | ||
| Q4 24 | 18.6% | 67.5% | ||
| Q3 24 | 21.4% | 68.5% | ||
| Q2 24 | 25.4% | 66.1% | ||
| Q1 24 | 21.5% | 65.6% |
| Q4 25 | -0.1% | 18.0% | ||
| Q3 25 | 4.1% | 16.4% | ||
| Q2 25 | 1.7% | 14.1% | ||
| Q1 25 | -3.8% | 14.3% | ||
| Q4 24 | -6.7% | 14.5% | ||
| Q3 24 | 0.0% | 15.6% | ||
| Q2 24 | 6.9% | 15.1% | ||
| Q1 24 | -1.1% | 10.3% |
| Q4 25 | -4.0% | 13.4% | ||
| Q3 25 | -0.3% | 13.5% | ||
| Q2 25 | -2.0% | 10.5% | ||
| Q1 25 | -6.8% | 12.2% | ||
| Q4 24 | -10.2% | 10.3% | ||
| Q3 24 | -2.9% | 14.3% | ||
| Q2 24 | 4.4% | 11.7% | ||
| Q1 24 | -3.1% | 12.0% |
| Q4 25 | $-0.58 | $0.69 | ||
| Q3 25 | $-0.04 | $0.67 | ||
| Q2 25 | $-0.25 | $0.52 | ||
| Q1 25 | $-0.72 | $0.58 | ||
| Q4 24 | $-1.04 | $0.46 | ||
| Q3 24 | $-0.36 | $0.62 | ||
| Q2 24 | $0.56 | $0.48 | ||
| Q1 24 | $-0.35 | $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 | $14.4M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $174.4M | $973.9M |
| Total Assets | $477.4M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.4M | $151.4M | ||
| Q3 25 | $12.0M | $133.7M | ||
| Q2 25 | $14.6M | $107.6M | ||
| Q1 25 | $28.4M | $94.9M | ||
| Q4 24 | $5.2M | $241.0M | ||
| Q3 24 | $17.9M | $205.8M | ||
| Q2 24 | $7.4M | $271.8M | ||
| Q1 24 | $16.8M | $290.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $43.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $174.4M | $973.9M | ||
| Q3 25 | $182.5M | $958.9M | ||
| Q2 25 | $209.4M | $949.8M | ||
| Q1 25 | $220.7M | $920.9M | ||
| Q4 24 | $236.4M | $854.7M | ||
| Q3 24 | $282.2M | $829.4M | ||
| Q2 24 | $297.4M | $703.4M | ||
| Q1 24 | $297.4M | $683.0M |
| Q4 25 | $477.4M | $1.2B | ||
| Q3 25 | $491.1M | $1.2B | ||
| Q2 25 | $508.8M | $1.1B | ||
| Q1 25 | $423.8M | $1.1B | ||
| Q4 24 | $405.1M | $1.0B | ||
| Q3 24 | $477.6M | $1.0B | ||
| Q2 24 | $483.2M | $854.5M | ||
| Q1 24 | $513.1M | $839.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $19.3M | $45.9M |
| Free Cash FlowOCF − Capex | $14.5M | $38.2M |
| FCF MarginFCF / Revenue | 8.9% | 19.8% |
| Capex IntensityCapex / Revenue | 3.0% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.3M | $45.9M | ||
| Q3 25 | $13.8M | $60.6M | ||
| Q2 25 | $-2.3M | $32.3M | ||
| Q1 25 | $-8.4M | $40.0M | ||
| Q4 24 | $9.5M | $40.6M | ||
| Q3 24 | $35.7M | $53.3M | ||
| Q2 24 | $32.4M | $29.4M | ||
| Q1 24 | $6.0M | $34.1M |
| Q4 25 | $14.5M | $38.2M | ||
| Q3 25 | $8.2M | $54.6M | ||
| Q2 25 | $-6.8M | $25.7M | ||
| Q1 25 | $-13.7M | $33.8M | ||
| Q4 24 | $1.8M | $34.3M | ||
| Q3 24 | $28.2M | $48.1M | ||
| Q2 24 | $27.0M | $24.4M | ||
| Q1 24 | $372.0K | $30.5M |
| Q4 25 | 8.9% | 19.8% | ||
| Q3 25 | 4.8% | 28.7% | ||
| Q2 25 | -4.2% | 13.7% | ||
| Q1 25 | -9.5% | 18.6% | ||
| Q4 24 | 1.2% | 20.1% | ||
| Q3 24 | 16.0% | 29.4% | ||
| Q2 24 | 14.3% | 15.9% | ||
| Q1 24 | 0.2% | 20.4% |
| Q4 25 | 3.0% | 4.0% | ||
| Q3 25 | 3.3% | 3.2% | ||
| Q2 25 | 2.8% | 3.6% | ||
| Q1 25 | 3.7% | 3.4% | ||
| Q4 24 | 5.1% | 3.6% | ||
| Q3 24 | 4.2% | 3.2% | ||
| Q2 24 | 2.8% | 3.3% | ||
| Q1 24 | 3.4% | 2.4% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | 3.93× | 1.63× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVEO
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
