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Side-by-side financial comparison of GoPro, Inc. (GPRO) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
GoPro, Inc. is the larger business by last-quarter revenue ($201.7M vs $192.7M, roughly 1.0× SPS COMMERCE INC). On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 0.4%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $15.0M). Over the past eight quarters, GoPro, Inc.'s revenue compounded faster (13.9% CAGR vs 13.5%).
GoPro, Inc. is an American technology company founded in 2002 by Nick Woodman. It manufactures action cameras and develops its own mobile apps and video-editing software. Founded as Woodman Labs, Inc, the company is based in San Mateo, California.
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.
GPRO vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $201.7M | $192.7M |
| Net Profit | — | $25.8M |
| Gross Margin | 31.8% | 70.4% |
| Operating Margin | -4.1% | 18.0% |
| Net Margin | — | 13.4% |
| Revenue YoY | 0.4% | 12.7% |
| Net Profit YoY | — | 47.2% |
| EPS (diluted) | $-0.06 | $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 | $201.7M | $192.7M | ||
| Q3 25 | $162.9M | $189.9M | ||
| Q2 25 | $152.6M | $187.4M | ||
| Q1 25 | $134.3M | $181.5M | ||
| Q4 24 | $200.9M | $170.9M | ||
| Q3 24 | $258.9M | $163.7M | ||
| Q2 24 | $186.2M | $153.6M | ||
| Q1 24 | $155.5M | $149.6M |
| Q4 25 | — | $25.8M | ||
| Q3 25 | $-21.3M | $25.6M | ||
| Q2 25 | $-16.4M | $19.7M | ||
| Q1 25 | $-46.7M | $22.2M | ||
| Q4 24 | — | $17.6M | ||
| Q3 24 | $-8.2M | $23.5M | ||
| Q2 24 | $-47.8M | $18.0M | ||
| Q1 24 | $-339.1M | $18.0M |
| Q4 25 | 31.8% | 70.4% | ||
| Q3 25 | 35.1% | 69.5% | ||
| Q2 25 | 35.8% | 68.1% | ||
| Q1 25 | 32.1% | 68.7% | ||
| Q4 24 | 34.7% | 67.5% | ||
| Q3 24 | 35.5% | 68.5% | ||
| Q2 24 | 30.5% | 66.1% | ||
| Q1 24 | 34.1% | 65.6% |
| Q4 25 | -4.1% | 18.0% | ||
| Q3 25 | -9.8% | 16.4% | ||
| Q2 25 | -9.2% | 14.1% | ||
| Q1 25 | -33.7% | 14.3% | ||
| Q4 24 | -19.5% | 14.5% | ||
| Q3 24 | -3.1% | 15.6% | ||
| Q2 24 | -25.0% | 15.1% | ||
| Q1 24 | -26.6% | 10.3% |
| Q4 25 | — | 13.4% | ||
| Q3 25 | -13.0% | 13.5% | ||
| Q2 25 | -10.8% | 10.5% | ||
| Q1 25 | -34.8% | 12.2% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | -3.2% | 14.3% | ||
| Q2 24 | -25.7% | 11.7% | ||
| Q1 24 | -218.1% | 12.0% |
| Q4 25 | $-0.06 | $0.69 | ||
| Q3 25 | $-0.13 | $0.67 | ||
| Q2 25 | $-0.10 | $0.52 | ||
| Q1 25 | $-0.30 | $0.58 | ||
| Q4 24 | $-0.22 | $0.46 | ||
| Q3 24 | $-0.05 | $0.62 | ||
| Q2 24 | $-0.31 | $0.48 | ||
| Q1 24 | $-2.24 | $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 | $49.7M | $151.4M |
| Total DebtLower is stronger | $44.3M | — |
| Stockholders' EquityBook value | $76.5M | $973.9M |
| Total Assets | $428.0M | $1.2B |
| Debt / EquityLower = less leverage | 0.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.7M | $151.4M | ||
| Q3 25 | $152.8M | $133.7M | ||
| Q2 25 | $58.6M | $107.6M | ||
| Q1 25 | $69.6M | $94.9M | ||
| Q4 24 | $102.8M | $241.0M | ||
| Q3 24 | $130.2M | $205.8M | ||
| Q2 24 | $133.0M | $271.8M | ||
| Q1 24 | $133.7M | $290.8M |
| Q4 25 | $44.3M | — | ||
| Q3 25 | $43.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | $93.1M | — | ||
| Q2 24 | $92.9M | — | ||
| Q1 24 | $92.7M | — |
| Q4 25 | $76.5M | $973.9M | ||
| Q3 25 | $80.5M | $958.9M | ||
| Q2 25 | $97.9M | $949.8M | ||
| Q1 25 | $110.0M | $920.9M | ||
| Q4 24 | $151.7M | $854.7M | ||
| Q3 24 | $183.9M | $829.4M | ||
| Q2 24 | $184.7M | $703.4M | ||
| Q1 24 | $224.9M | $683.0M |
| Q4 25 | $428.0M | $1.2B | ||
| Q3 25 | $538.6M | $1.2B | ||
| Q2 25 | $439.0M | $1.1B | ||
| Q1 25 | $462.5M | $1.1B | ||
| Q4 24 | $543.7M | $1.0B | ||
| Q3 24 | $661.6M | $1.0B | ||
| Q2 24 | $556.8M | $854.5M | ||
| Q1 24 | $575.8M | $839.8M |
| Q4 25 | 0.58× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | 0.41× | — |
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 | $15.6M | $45.9M |
| Free Cash FlowOCF − Capex | $15.0M | $38.2M |
| FCF MarginFCF / Revenue | 7.4% | 19.8% |
| Capex IntensityCapex / Revenue | 0.3% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-24.0M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $45.9M | ||
| Q3 25 | $12.2M | $60.6M | ||
| Q2 25 | $8.8M | $32.3M | ||
| Q1 25 | $-57.2M | $40.0M | ||
| Q4 24 | $-25.1M | $40.6M | ||
| Q3 24 | $-2.2M | $53.3M | ||
| Q2 24 | $605.0K | $29.4M | ||
| Q1 24 | $-98.4M | $34.1M |
| Q4 25 | $15.0M | $38.2M | ||
| Q3 25 | $11.2M | $54.6M | ||
| Q2 25 | $8.3M | $25.7M | ||
| Q1 25 | $-58.5M | $33.8M | ||
| Q4 24 | $-25.5M | $34.3M | ||
| Q3 24 | $-4.2M | $48.1M | ||
| Q2 24 | $-111.0K | $24.4M | ||
| Q1 24 | $-99.4M | $30.5M |
| Q4 25 | 7.4% | 19.8% | ||
| Q3 25 | 6.9% | 28.7% | ||
| Q2 25 | 5.4% | 13.7% | ||
| Q1 25 | -43.5% | 18.6% | ||
| Q4 24 | -12.7% | 20.1% | ||
| Q3 24 | -1.6% | 29.4% | ||
| Q2 24 | -0.1% | 15.9% | ||
| Q1 24 | -63.9% | 20.4% |
| Q4 25 | 0.3% | 4.0% | ||
| Q3 25 | 0.6% | 3.2% | ||
| Q2 25 | 0.3% | 3.6% | ||
| Q1 25 | 1.0% | 3.4% | ||
| Q4 24 | 0.2% | 3.6% | ||
| Q3 24 | 0.8% | 3.2% | ||
| Q2 24 | 0.4% | 3.3% | ||
| Q1 24 | 0.6% | 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 | — | 1.63× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GPRO
| Subscription And Services | $106.3M | 53% |
| Other | $95.4M | 47% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
