DSGX FY 2023 Earnings Report — The Descartes Systems Group Inc. Revenue & Financial Results | Market Cap Arena

The Descartes Systems Group Inc.DSGX

FY 2023 Earnings

Reported April 22, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$573M	—	$486M	—	17.9%
Op. Income	$143M	—	$130M	—	9.5%
Gross Margin	75.9%	—	76.7%	—	-0.8pp
Net Margin	20.2%	—	21.0%	—	-0.8pp
EPS (Diluted)	$1.34	—	$1.18	—	13.6%
Free Cash Flow	$203M	—	$186M	—	8.9%

Revenue Flow

Item	Amount
REVENUE	$573M
Cost of Revenue	$138M
GROSS PROFIT	$435M
R&D Expenses	$84M
Selling & Marketing	$68M
General & Administrative	$57M
SG&A Expenses	$126M
Other Expenses	$82M
Operating Expenses	$292M
Cost & Expenses	$430M
OPERATING INCOME	$143M
Interest Income	$0
Interest Expense	$1M
Other Income/Expenses	$8M
INCOME BEFORE TAX	$151M
Income Tax Expense	$35M
Net Income from Continuing Ops	$116M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$116M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$116M
D&A	$66M
EBIT	$153M
EBITDA	$219M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$573M
Cost of Revenue	$138M
GROSS PROFIT	$435M
R&D Expenses	$84M
Selling & Marketing	$68M
General & Administrative	$57M
SG&A Expenses	$126M
Other Expenses	$82M
Operating Expenses	$292M
Cost & Expenses	$430M
OPERATING INCOME	$143M
Interest Income	$0
Interest Expense	$1M
Other Income/Expenses	$8M
INCOME BEFORE TAX	$151M
Income Tax Expense	$35M
Net Income from Continuing Ops	$116M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$116M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$116M
D&A	$66M
EBIT	$153M
EBITDA	$219M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$116M
Depreciation & Amortization	$66M
Stock-Based Compensation	$16M
Deferred Income Tax	-$6M
Other Non-Cash Items	$868.3K
Change in Working Capital	$15M
OPERATING CASH FLOW	$208M
Capital Expenditure	-$6M
Acquisitions (Net)	-$143M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$149M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$24M
NET CASH FROM FINANCING	-$15M
FREE CASH FLOW	$203M
Net Change in Cash	$42M

Balance Sheet

Item	Amount
Cash & Equivalents	$321M
Short-Term Investments	$0
Net Receivables	$64M
Inventory	$0
Other Current Assets	$33M
TOTAL CURRENT ASSETS	$418M
PP&E (Net)	$18M
Goodwill	$760M
Intangible Assets	$251M
Long-Term Investments	$250M
Tax Assets	$0
Other Non-Current Assets	-$223M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.5B
Account Payables	$17M
Short-Term Debt	$0
Deferred Revenue	$84M
Other Current Liabilities	$44M
TOTAL CURRENT LIABILITIES	$204M
Long-Term Debt	$0
Deferred Revenue NC	$1M
Deferred Tax Liabilities	$21M
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$33M
TOTAL LIABILITIES	$236M
Common Stock	$551M
Additional Paid-In Capital	$495M
Retained Earnings	$221M
Treasury Stock	$0
Accum. Other Comp. Income	-$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$7M
Net Debt	-$314M