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The Descartes Systems Group (DSG) investor relations material
The Descartes Systems Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Dec, 2025
Executive summary
Achieved record quarterly revenue of $187.7 million in Q3FY26, up 11% year-over-year, with strong growth in services and recurring revenues.
Net income rose 20% year-over-year in Q3FY26 to $43.9 million, with income from operations and margins also improving.
Adjusted EBITDA reached $85.5 million in Q3FY26, up 19% year-over-year, with margin expanding to 46%.
Operates the world's largest multi-modal, neutral logistics network with a strong SaaS focus and high recurring revenue profile.
Demonstrates a proven 'Total Growth' model, supported by disciplined M&A and a highly experienced management team.
Financial highlights
FY25 revenue reached $651 million, up 14% year-over-year, with a 16% CAGR over three years.
Q3FY26 revenues were $187.7 million, with services revenue comprising 93% of total.
Net income for FY25 was $143 million, up 23% year-over-year, with a net income margin of 22%.
Adjusted EBITDA for FY25 was $285 million, representing 44% of revenues.
Cash from operations in Q3FY26 was $73.4 million, up 22% year-over-year; ended quarter with $278.8 million in cash and no debt.
Outlook and guidance
Baseline Q4 revenues estimated at $161 million, with baseline adjusted EBITDA calibration of $62.5 million (39% margin).
Target adjusted EBITDA margin remains at 40%-45%, with potential for upward adjustment.
Management expects continued growth in logistics solutions demand, with ongoing focus on margin expansion and cash generation.
Expect Q4 tax rate in the 24%-28% range.
Continue to target 10%-15% annual adjusted EBITDA growth, with a strong track record of exceeding this range.
AI monetization strategy and pricing impact
Organic growth drivers beyond market share gains?
Acquisition vs. buyback priority now?
New CFO's M&A strategy
NCIB impact on acquisition funding
GLN demand from market uncertainty
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Next The Descartes Systems Group earnings date
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Frequently asked questions
The Descartes Systems Group Inc is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. The Descartes Systems Group Inc cloud-based services provide end-to end support for domestic and international transportation, fulfillment management and warehouse operations, customs and regulatory compliance, as well as shipment rating and reconciliation.
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