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Side-by-side financial comparison of Granite Ridge Resources, Inc. (GRNT) 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 $128.3M, roughly 1.5× Granite Ridge Resources, Inc.). SPS COMMERCE INC runs the higher net margin — 13.4% vs -36.7%, a 50.1% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 4.3%). Over the past eight quarters, Granite Ridge Resources, Inc.'s revenue compounded faster (18.9% CAGR vs 13.5%).
Granite Ridge Resources, Inc. is an independent upstream energy company focused on the exploration, development, and production of oil, natural gas, and natural gas liquids. It operates low-cost, high-yield onshore hydrocarbon assets across key U.S. basins, primarily serving North American energy markets.
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.
GRNT vs SPSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $128.3M | $192.7M |
| Net Profit | $-47.0M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | — | 18.0% |
| Net Margin | -36.7% | 13.4% |
| Revenue YoY | 4.3% | 12.7% |
| Net Profit YoY | — | 47.2% |
| EPS (diluted) | $-0.36 | $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.
| Q1 26 | $128.3M | — | ||
| Q4 25 | $105.5M | $192.7M | ||
| Q3 25 | $112.7M | $189.9M | ||
| Q2 25 | $109.2M | $187.4M | ||
| Q1 25 | $122.9M | $181.5M | ||
| Q4 24 | $106.3M | $170.9M | ||
| Q3 24 | $94.1M | $163.7M | ||
| Q2 24 | $90.7M | $153.6M |
| Q1 26 | $-47.0M | — | ||
| Q4 25 | — | $25.8M | ||
| Q3 25 | $14.5M | $25.6M | ||
| Q2 25 | $25.1M | $19.7M | ||
| Q1 25 | $9.8M | $22.2M | ||
| Q4 24 | — | $17.6M | ||
| Q3 24 | $9.1M | $23.5M | ||
| Q2 24 | $5.1M | $18.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 70.4% | ||
| Q3 25 | — | 69.5% | ||
| Q2 25 | — | 68.1% | ||
| Q1 25 | — | 68.7% | ||
| Q4 24 | — | 67.5% | ||
| Q3 24 | — | 68.5% | ||
| Q2 24 | — | 66.1% |
| Q1 26 | — | — | ||
| Q4 25 | -34.5% | 18.0% | ||
| Q3 25 | 17.4% | 16.4% | ||
| Q2 25 | 19.0% | 14.1% | ||
| Q1 25 | 34.6% | 14.3% | ||
| Q4 24 | -6.5% | 14.5% | ||
| Q3 24 | 26.2% | 15.6% | ||
| Q2 24 | 24.1% | 15.1% |
| Q1 26 | -36.7% | — | ||
| Q4 25 | — | 13.4% | ||
| Q3 25 | 12.9% | 13.5% | ||
| Q2 25 | 23.0% | 10.5% | ||
| Q1 25 | 8.0% | 12.2% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | 9.6% | 14.3% | ||
| Q2 24 | 5.6% | 11.7% |
| Q1 26 | $-0.36 | — | ||
| Q4 25 | $-0.19 | $0.69 | ||
| Q3 25 | $0.11 | $0.67 | ||
| Q2 25 | $0.19 | $0.52 | ||
| Q1 25 | $0.07 | $0.58 | ||
| Q4 24 | $-0.09 | $0.46 | ||
| Q3 24 | $0.07 | $0.62 | ||
| Q2 24 | $0.04 | $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 | — | $151.4M |
| Total DebtLower is stronger | $26.3M | — |
| Stockholders' EquityBook value | $545.6M | $973.9M |
| Total Assets | $1.2B | $1.2B |
| Debt / EquityLower = less leverage | 0.05× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $151.4M | ||
| Q3 25 | — | $133.7M | ||
| Q2 25 | — | $107.6M | ||
| Q1 25 | — | $94.9M | ||
| Q4 24 | — | $241.0M | ||
| Q3 24 | — | $205.8M | ||
| Q2 24 | — | $271.8M |
| Q1 26 | $26.3M | — | ||
| Q4 25 | $367.8M | — | ||
| Q3 25 | $300.0M | — | ||
| Q2 25 | $275.0M | — | ||
| Q1 25 | $250.0M | — | ||
| Q4 24 | $205.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $545.6M | — | ||
| Q4 25 | $605.8M | $973.9M | ||
| Q3 25 | $643.9M | $958.9M | ||
| Q2 25 | $642.5M | $949.8M | ||
| Q1 25 | $631.4M | $920.9M | ||
| Q4 24 | $635.4M | $854.7M | ||
| Q3 24 | $660.6M | $829.4M | ||
| Q2 24 | $665.3M | $703.4M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $1.0B | $1.0B | ||
| Q2 24 | $990.5M | $854.5M |
| Q1 26 | 0.05× | — | ||
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $58.3M | $45.9M |
| Free Cash FlowOCF − Capex | — | $38.2M |
| FCF MarginFCF / Revenue | — | 19.8% |
| Capex IntensityCapex / Revenue | 47.1% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | — | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $58.3M | — | ||
| Q4 25 | $64.5M | $45.9M | ||
| Q3 25 | $77.8M | $60.6M | ||
| Q2 25 | $78.0M | $32.3M | ||
| Q1 25 | $76.1M | $40.0M | ||
| Q4 24 | $68.2M | $40.6M | ||
| Q3 24 | $74.7M | $53.3M | ||
| Q2 24 | $64.2M | $29.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $38.2M | ||
| Q3 25 | — | $54.6M | ||
| Q2 25 | — | $25.7M | ||
| Q1 25 | — | $33.8M | ||
| Q4 24 | — | $34.3M | ||
| Q3 24 | — | $48.1M | ||
| Q2 24 | — | $24.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | 20.1% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | 47.1% | — | ||
| Q4 25 | — | 4.0% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.78× | ||
| Q3 25 | 5.36× | 2.37× | ||
| Q2 25 | 3.11× | 1.64× | ||
| Q1 25 | 7.75× | 1.80× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | 8.25× | 2.27× | ||
| Q2 24 | 12.58× | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRNT
| Oil sales | $103.4M | 81% |
| Natural gas and related product sales | $24.8M | 19% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
