Quarterly ResultJun 4, 2026, 08:11 AM
Descartes Systems Group Q1 Revenue $193.6M (+15% YoY); Net Income $48.5M
AI Summary
Descartes Systems Group announced its first quarter fiscal 2027 financial results, reporting record revenues of $193.6 million, a 15% increase year-over-year. Net income rose 34% to $48.5 million, and diluted EPS increased 34% to $0.55. The company also highlighted strategic acquisitions, including Idelic Inc. for approximately $25.3 million and OrderMine for $2.3 million, both aimed at enhancing AI capabilities. Descartes continued its share repurchase program, buying back 305,000 shares for $20.8 million.
Key Highlights
- Descartes Systems Group reported Q1 FY27 revenues of $193.6 million, a 15% increase year-over-year.
- Net income for Q1 FY27 was $48.5 million, up 34% from $36.2 million in Q1 FY26.
- Diluted earnings per share (EPS) rose 34% to $0.55 in Q1 FY27 from $0.41 in Q1 FY26.
- Acquired Idelic Inc. for approximately $25.3 million plus contingent consideration.
- Repurchased 305,000 common shares for $20.8 million under its Normal Course Issuer Bid (NCIB).
- Cash provided by operating activities increased 40% to $75.1 million in Q1 FY27.
- Services revenues grew 15% to $180.5 million, representing 93% of total revenues.
- Acquired OrderMine for approximately $2.3 million plus contingent consideration.
Price Impact
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