SPSC
SPS Commerce, Inc.
Is SPSC Halal?
Retail-network, fulfillment and analytics software — generally permissible activity whose known ratios pass, with gross interest income and activity classification incomplete.
What You Should Know
SPS Commerce's March 31, 2026 Form 10-Q reports assets of $1,161.208 million, no interest-bearing debt, cash of $154.271 million, receivables of $65.106 million and quarterly revenue of $192.121 million. Debt/assets is 0.00%, liquidity/assets is 13.28% and receivables plus cash/assets is 18.45%; gross interest income and a universal prohibited-revenue numerator are not separately disclosed.
⚠️ Concerns
- •Known asset-based ratios pass, but gross interest income and activity classification remain incomplete
- •Retail, fulfillment and marketplace customer end uses
- •Platform and subscription concentration
- •Data privacy and cybersecurity
- •No universal prohibited-revenue numerator is disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
0 / 1,161.208
154.271 / 1,161.208
219.377 / 1,161.208
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 0.00%, liquidity/assets is 13.28% and receivables-plus-cash/assets is 18.45%; gross interest income and activity remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Known financial ratios pass; this is not an index-membership claim and activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Known debt and liquidity ratios pass; this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored.
Business-activity disclosure
SPS Commerce provides cloud-based retail-network, fulfillment and analytics software. General-purpose commerce software is generally permissible, but customer end uses are not reduced to a universal prohibited-revenue numerator.
Limitation: No universal prohibited-activity revenue numerator or scholar-specific purification percentage is disclosed.
Purification
Gross interest income is not separately disclosed; ZakatInvest does not infer a purification amount.
Inputs, assumptions and primary sources
- Amounts are USD thousands from SPS Commerce's March 31, 2026 Form 10-Q; this record expresses them in millions-equivalent values.
- No interest-bearing debt is reported; operating leases are excluded.
- Cash is $154.271 million and net accounts receivable is $65.106 million.
- Quarterly revenue is $192.121 million. The filing does not separately disclose gross interest income.
- Retail-network software and fulfillment services are generally permissible, but no universal prohibited-revenue numerator is disclosed.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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