vs
Side-by-side financial comparison of Lovesac Co (LOVE) 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 $150.2M, roughly 1.3× Lovesac Co). SPS COMMERCE INC runs the higher net margin — 13.4% vs -7.0%, a 20.4% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 0.2%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $-10.2M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs -22.6%).
The Lovesac Company is an American furniture retailer, specializing in a patented modular furniture system called Sactionals. Sactionals consist of two combinable pieces, “Seats” and “Sides,” as well as custom-fit covers and associated accessories. Lovesac also sells Sacs, a bag seat filled with a proprietary foam mixture.
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.
LOVE vs SPSC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $150.2M | $192.7M |
| Net Profit | $-10.6M | $25.8M |
| Gross Margin | 56.1% | 70.4% |
| Operating Margin | -10.5% | 18.0% |
| Net Margin | -7.0% | 13.4% |
| Revenue YoY | 0.2% | 12.7% |
| Net Profit YoY | -114.0% | 47.2% |
| EPS (diluted) | $-0.72 | $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 | $150.2M | $192.7M | ||
| Q3 25 | $160.5M | $189.9M | ||
| Q2 25 | $138.4M | $187.4M | ||
| Q1 25 | $241.5M | $181.5M | ||
| Q4 24 | $149.9M | $170.9M | ||
| Q3 24 | $156.6M | $163.7M | ||
| Q2 24 | $132.6M | $153.6M | ||
| Q1 24 | $250.5M | $149.6M |
| Q4 25 | $-10.6M | $25.8M | ||
| Q3 25 | $-6.7M | $25.6M | ||
| Q2 25 | $-10.8M | $19.7M | ||
| Q1 25 | $35.3M | $22.2M | ||
| Q4 24 | $-4.9M | $17.6M | ||
| Q3 24 | $-5.9M | $23.5M | ||
| Q2 24 | $-13.0M | $18.0M | ||
| Q1 24 | $31.0M | $18.0M |
| Q4 25 | 56.1% | 70.4% | ||
| Q3 25 | 56.4% | 69.5% | ||
| Q2 25 | 53.7% | 68.1% | ||
| Q1 25 | 60.4% | 68.7% | ||
| Q4 24 | 58.5% | 67.5% | ||
| Q3 24 | 59.0% | 68.5% | ||
| Q2 24 | 54.3% | 66.1% | ||
| Q1 24 | 59.7% | 65.6% |
| Q4 25 | -10.5% | 18.0% | ||
| Q3 25 | -5.5% | 16.4% | ||
| Q2 25 | -10.8% | 14.1% | ||
| Q1 25 | 19.7% | 14.3% | ||
| Q4 24 | -5.2% | 14.5% | ||
| Q3 24 | -5.3% | 15.6% | ||
| Q2 24 | -13.5% | 15.1% | ||
| Q1 24 | 16.1% | 10.3% |
| Q4 25 | -7.0% | 13.4% | ||
| Q3 25 | -4.1% | 13.5% | ||
| Q2 25 | -7.8% | 10.5% | ||
| Q1 25 | 14.6% | 12.2% | ||
| Q4 24 | -3.3% | 10.3% | ||
| Q3 24 | -3.7% | 14.3% | ||
| Q2 24 | -9.8% | 11.7% | ||
| Q1 24 | 12.4% | 12.0% |
| Q4 25 | $-0.72 | $0.69 | ||
| Q3 25 | $-0.45 | $0.67 | ||
| Q2 25 | $-0.73 | $0.52 | ||
| Q1 25 | $2.22 | $0.58 | ||
| Q4 24 | $-0.32 | $0.46 | ||
| Q3 24 | $-0.38 | $0.62 | ||
| Q2 24 | $-0.83 | $0.48 | ||
| Q1 24 | $1.91 | $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 | $23.7M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $189.3M | $973.9M |
| Total Assets | $495.5M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.7M | $151.4M | ||
| Q3 25 | $34.2M | $133.7M | ||
| Q2 25 | $26.9M | $107.6M | ||
| Q1 25 | $83.7M | $94.9M | ||
| Q4 24 | $61.7M | $241.0M | ||
| Q3 24 | $72.1M | $205.8M | ||
| Q2 24 | $72.4M | $271.8M | ||
| Q1 24 | $87.0M | $290.8M |
| Q4 25 | $189.3M | $973.9M | ||
| Q3 25 | $197.5M | $958.9M | ||
| Q2 25 | $201.2M | $949.8M | ||
| Q1 25 | $216.4M | $920.9M | ||
| Q4 24 | $196.5M | $854.7M | ||
| Q3 24 | $202.1M | $829.4M | ||
| Q2 24 | $205.3M | $703.4M | ||
| Q1 24 | $217.5M | $683.0M |
| Q4 25 | $495.5M | $1.2B | ||
| Q3 25 | $493.7M | $1.2B | ||
| Q2 25 | $483.7M | $1.1B | ||
| Q1 25 | $532.3M | $1.1B | ||
| Q4 24 | $499.7M | $1.0B | ||
| Q3 24 | $481.1M | $1.0B | ||
| Q2 24 | $477.2M | $854.5M | ||
| Q1 24 | $482.2M | $839.8M |
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 | $-4.9M | $45.9M |
| Free Cash FlowOCF − Capex | $-10.2M | $38.2M |
| FCF MarginFCF / Revenue | -6.8% | 19.8% |
| Capex IntensityCapex / Revenue | 3.5% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.6M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.9M | $45.9M | ||
| Q3 25 | $12.2M | $60.6M | ||
| Q2 25 | $-41.4M | $32.3M | ||
| Q1 25 | $44.0M | $40.0M | ||
| Q4 24 | $-4.2M | $40.6M | ||
| Q3 24 | $6.2M | $53.3M | ||
| Q2 24 | $-7.0M | $29.4M | ||
| Q1 24 | $56.3M | $34.1M |
| Q4 25 | $-10.2M | $38.2M | ||
| Q3 25 | $7.8M | $54.6M | ||
| Q2 25 | $-50.0M | $25.7M | ||
| Q1 25 | $38.7M | $33.8M | ||
| Q4 24 | $-6.6M | $34.3M | ||
| Q3 24 | $119.0K | $48.1M | ||
| Q2 24 | $-14.3M | $24.4M | ||
| Q1 24 | $49.5M | $30.5M |
| Q4 25 | -6.8% | 19.8% | ||
| Q3 25 | 4.9% | 28.7% | ||
| Q2 25 | -36.1% | 13.7% | ||
| Q1 25 | 16.0% | 18.6% | ||
| Q4 24 | -4.4% | 20.1% | ||
| Q3 24 | 0.1% | 29.4% | ||
| Q2 24 | -10.8% | 15.9% | ||
| Q1 24 | 19.8% | 20.4% |
| Q4 25 | 3.5% | 4.0% | ||
| Q3 25 | 2.7% | 3.2% | ||
| Q2 25 | 6.2% | 3.6% | ||
| Q1 25 | 2.2% | 3.4% | ||
| Q4 24 | 1.6% | 3.6% | ||
| Q3 24 | 3.9% | 3.2% | ||
| Q2 24 | 5.5% | 3.3% | ||
| Q1 24 | 2.7% | 2.4% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | 1.25× | 1.80× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | 1.82× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LOVE
| Showrooms | $102.7M | 68% |
| Internet | $37.3M | 25% |
| Other | $10.2M | 7% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
