DSGX FY 2025 Earnings Report — The Descartes Systems Group Inc. Revenue & Financial Results | Market Cap Arena

The Descartes Systems Group Inc.DSGX

FY 2025 Earnings

Reported March 11, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$745M	—	$651M	—	14.4%
Op. Income	$241M	—	$181M	—	32.8%
Gross Margin	65.9%	—	75.6%	—	-9.7pp
Net Margin	22.5%	—	22.0%	—	0.5pp
EPS (Diluted)	$1.91	—	$1.64	—	16.5%
Free Cash Flow	$266M	—	$213M	—	25.3%

Revenue Flow

Item	Amount
REVENUE	$745M
Cost of Revenue	$254M
GROSS PROFIT	$491M
R&D Expenses	$108M
Selling & Marketing	$83M
General & Administrative	$72M
SG&A Expenses	$155M
Other Expenses	-$12M
Operating Expenses	$251M
Cost & Expenses	$504M
OPERATING INCOME	$241M
Interest Income	$0
Interest Expense	$988.2K
Other Income/Expenses	-$19M
INCOME BEFORE TAX	$222M
Income Tax Expense	$54M
Net Income from Continuing Ops	$167M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$167M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$167M
D&A	$89M
EBIT	$241M
EBITDA	$330M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$745M
Cost of Revenue	$254M
GROSS PROFIT	$491M
R&D Expenses	$108M
Selling & Marketing	$83M
General & Administrative	$72M
SG&A Expenses	$155M
Other Expenses	-$12M
Operating Expenses	$251M
Cost & Expenses	$504M
OPERATING INCOME	$241M
Interest Income	$0
Interest Expense	$988.2K
Other Income/Expenses	-$19M
INCOME BEFORE TAX	$222M
Income Tax Expense	$54M
Net Income from Continuing Ops	$167M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$167M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$167M
D&A	$89M
EBIT	$241M
EBITDA	$330M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$167M
Depreciation & Amortization	$89M
Stock-Based Compensation	$0
Deferred Income Tax	$11M
Other Non-Cash Items	$22M
Change in Working Capital	-$17M
OPERATING CASH FLOW	$272M
Capital Expenditure	-$6M
Acquisitions (Net)	-$155M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$161M
Net Debt Issuance	$0
Common Stock Repurchased	-$911.6K
Common Dividends Paid	$0
Other Financing Activities	-$8M
NET CASH FROM FINANCING	$5M
FREE CASH FLOW	$266M
Net Change in Cash	$119M

Balance Sheet

Item	Amount
Cash & Equivalents	$354M
Short-Term Investments	$0
Net Receivables	$91M
Inventory	$100.4K
Other Current Assets	$10M
TOTAL CURRENT ASSETS	$479M
PP&E (Net)	$22M
Goodwill	$1.0B
Intangible Assets	$330M
Long-Term Investments	$0
Tax Assets	$7M
Other Non-Current Assets	$27M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$1.9B
Account Payables	$21M
Short-Term Debt	$3M
Deferred Revenue	$117M
Other Current Liabilities	$31M
TOTAL CURRENT LIABILITIES	$222M
Long-Term Debt	$0
Deferred Revenue NC	$1M
Deferred Tax Liabilities	$41M
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$53M
TOTAL LIABILITIES	$275M
Common Stock	$587M
Additional Paid-In Capital	$506M
Retained Earnings	$524M
Treasury Stock	$0
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$8M
Net Debt	-$346M