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Side-by-side financial comparison of RADIANT LOGISTICS, INC (RLGT) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
RADIANT LOGISTICS, INC is the larger business by last-quarter revenue ($232.1M vs $192.7M, roughly 1.2× SPS COMMERCE INC). SPS COMMERCE INC runs the higher net margin — 13.4% vs 2.3%, a 11.1% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs -12.3%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $11.6M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 12.1%).
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
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.
RLGT vs SPSC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $232.1M | $192.7M |
| Net Profit | $5.3M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | 3.2% | 18.0% |
| Net Margin | 2.3% | 13.4% |
| Revenue YoY | -12.3% | 12.7% |
| Net Profit YoY | -18.0% | 47.2% |
| EPS (diluted) | $0.11 | $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 | $232.1M | $192.7M | ||
| Q3 25 | $226.7M | $189.9M | ||
| Q2 25 | $220.6M | $187.4M | ||
| Q1 25 | $214.0M | $181.5M | ||
| Q4 24 | $264.5M | $170.9M | ||
| Q3 24 | $203.6M | $163.7M | ||
| Q2 24 | $206.0M | $153.6M | ||
| Q1 24 | $184.6M | $149.6M |
| Q4 25 | $5.3M | $25.8M | ||
| Q3 25 | $1.3M | $25.6M | ||
| Q2 25 | $4.9M | $19.7M | ||
| Q1 25 | $2.5M | $22.2M | ||
| Q4 24 | $6.5M | $17.6M | ||
| Q3 24 | $3.4M | $23.5M | ||
| Q2 24 | $4.8M | $18.0M | ||
| Q1 24 | $-703.0K | $18.0M |
| 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 24 | — | 65.6% |
| Q4 25 | 3.2% | 18.0% | ||
| Q3 25 | 0.9% | 16.4% | ||
| Q2 25 | 2.4% | 14.1% | ||
| Q1 25 | 1.6% | 14.3% | ||
| Q4 24 | 3.3% | 14.5% | ||
| Q3 24 | 1.9% | 15.6% | ||
| Q2 24 | 2.4% | 15.1% | ||
| Q1 24 | -0.5% | 10.3% |
| Q4 25 | 2.3% | 13.4% | ||
| Q3 25 | 0.6% | 13.5% | ||
| Q2 25 | 2.2% | 10.5% | ||
| Q1 25 | 1.2% | 12.2% | ||
| Q4 24 | 2.4% | 10.3% | ||
| Q3 24 | 1.7% | 14.3% | ||
| Q2 24 | 2.3% | 11.7% | ||
| Q1 24 | -0.4% | 12.0% |
| Q4 25 | $0.11 | $0.69 | ||
| Q3 25 | $0.03 | $0.67 | ||
| Q2 25 | $0.10 | $0.52 | ||
| Q1 25 | $0.05 | $0.58 | ||
| Q4 24 | $0.13 | $0.46 | ||
| Q3 24 | $0.07 | $0.62 | ||
| Q2 24 | $0.11 | $0.48 | ||
| Q1 24 | $-0.02 | $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 | — | — |
| Stockholders' EquityBook value | $229.8M | $973.9M |
| Total Assets | $439.4M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.9M | $151.4M | ||
| Q3 25 | $28.1M | $133.7M | ||
| Q2 25 | $22.9M | $107.6M | ||
| Q1 25 | $19.0M | $94.9M | ||
| Q4 24 | $19.9M | $241.0M | ||
| Q3 24 | $10.4M | $205.8M | ||
| Q2 24 | $24.9M | $271.8M | ||
| Q1 24 | $31.2M | $290.8M |
| Q4 25 | $229.8M | $973.9M | ||
| Q3 25 | $225.7M | $958.9M | ||
| Q2 25 | $226.0M | $949.8M | ||
| Q1 25 | $218.2M | $920.9M | ||
| Q4 24 | $214.4M | $854.7M | ||
| Q3 24 | $212.4M | $829.4M | ||
| Q2 24 | $209.4M | $703.4M | ||
| Q1 24 | $206.0M | $683.0M |
| Q4 25 | $439.4M | $1.2B | ||
| Q3 25 | $445.3M | $1.2B | ||
| Q2 25 | $426.8M | $1.1B | ||
| Q1 25 | $414.5M | $1.1B | ||
| Q4 24 | $386.8M | $1.0B | ||
| Q3 24 | $375.3M | $1.0B | ||
| Q2 24 | $371.2M | $854.5M | ||
| Q1 24 | $364.0M | $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 | $12.4M | $45.9M |
| Free Cash FlowOCF − Capex | $11.6M | $38.2M |
| FCF MarginFCF / Revenue | 5.0% | 19.8% |
| Capex IntensityCapex / Revenue | 0.3% | 4.0% |
| Cash ConversionOCF / Net Profit | 2.33× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $8.5M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.4M | $45.9M | ||
| Q3 25 | $2.5M | $60.6M | ||
| Q2 25 | $3.1M | $32.3M | ||
| Q1 25 | $-5.7M | $40.0M | ||
| Q4 24 | $15.7M | $40.6M | ||
| Q3 24 | $205.0K | $53.3M | ||
| Q2 24 | $1.3M | $29.4M | ||
| Q1 24 | $3.9M | $34.1M |
| Q4 25 | $11.6M | $38.2M | ||
| Q3 25 | $977.0K | $54.6M | ||
| Q2 25 | $2.2M | $25.7M | ||
| Q1 25 | $-6.4M | $33.8M | ||
| Q4 24 | $14.1M | $34.3M | ||
| Q3 24 | $-1.9M | $48.1M | ||
| Q2 24 | $-185.0K | $24.4M | ||
| Q1 24 | $1.8M | $30.5M |
| Q4 25 | 5.0% | 19.8% | ||
| Q3 25 | 0.4% | 28.7% | ||
| Q2 25 | 1.0% | 13.7% | ||
| Q1 25 | -3.0% | 18.6% | ||
| Q4 24 | 5.3% | 20.1% | ||
| Q3 24 | -0.9% | 29.4% | ||
| Q2 24 | -0.1% | 15.9% | ||
| Q1 24 | 1.0% | 20.4% |
| Q4 25 | 0.3% | 4.0% | ||
| Q3 25 | 0.7% | 3.2% | ||
| Q2 25 | 0.4% | 3.6% | ||
| Q1 25 | 0.3% | 3.4% | ||
| Q4 24 | 0.6% | 3.6% | ||
| Q3 24 | 1.0% | 3.2% | ||
| Q2 24 | 0.7% | 3.3% | ||
| Q1 24 | 1.2% | 2.4% |
| Q4 25 | 2.33× | 1.78× | ||
| Q3 25 | 1.90× | 2.37× | ||
| Q2 25 | 0.63× | 1.64× | ||
| Q1 25 | -2.26× | 1.80× | ||
| Q4 24 | 2.43× | 2.31× | ||
| Q3 24 | 0.06× | 2.27× | ||
| Q2 24 | 0.26× | 1.63× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
