Latest news with #DescartesSystemsGroupInc
Hamilton Spectator
12-06-2025
- Business
- Hamilton Spectator
Descartes Announces Results of Annual Meeting of Shareholders
WATERLOO, Ontario, June 12, 2025 (GLOBE NEWSWIRE) — The Descartes Systems Group Inc. (Nasdaq:DSGX) (TSX:DSG), announced the voting results from its annual meeting of shareholders held on Thursday, June 12, 2025 (the 'Meeting'). Meeting Results The following matters, as set out in more detail in its Management Information Circular dated April 30, 2025, were considered and voted on by shareholders at the Meeting: General The total number of common shares of the Corporation represented in person or by proxy at the Meeting was 77,507,142 which represented 90.35% of the 85,782,830 common shares of the Corporation that were outstanding as of the record date for the Meeting, being April 25, 2025. Election of Directors On a vote by ballot, each of the following 10 nominees proposed by management of the Corporation was elected as a director of the Corporation: Appointment of Auditors On a vote by ballot, KPMG LLP, Chartered Professional Accountants and Licensed Public Accountants, were appointed as the auditors of the Corporation until the close of the next annual meeting of shareholders or until their successors are appointed. Say-On-Pay On a vote by ballot, the 'Say-On-Pay' resolution proposed by management of the Corporation was approved. About Descartes Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at , and connect with us on LinkedIn and Twitter . Descartes Investor Contact Laurie McCauley (519) 746-6114 x202358 investor@
Yahoo
12-06-2025
- Business
- Yahoo
Descartes Announces Results of Annual Meeting of Shareholders
WATERLOO, Ontario, June 12, 2025 (GLOBE NEWSWIRE) -- The Descartes Systems Group Inc. (Nasdaq:DSGX) (TSX:DSG), announced the voting results from its annual meeting of shareholders held on Thursday, June 12, 2025 (the 'Meeting'). Meeting Results The following matters, as set out in more detail in its Management Information Circular dated April 30, 2025, were considered and voted on by shareholders at the Meeting: GeneralThe total number of common shares of the Corporation represented in person or by proxy at the Meeting was 77,507,142 which represented 90.35% of the 85,782,830 common shares of the Corporation that were outstanding as of the record date for the Meeting, being April 25, 2025. Election of DirectorsOn a vote by ballot, each of the following 10 nominees proposed by management of the Corporation was elected as a director of the Corporation: Director Nominee Number of Votes FOR Percentage of Votes FOR Number of Votes AGAINST Percentage of Votes AGAINST Deepak Chopra 75,876,565 98.81% 912,202 1.19% Eric Demirian 72,960,218 95.01% 3,828,551 4.99% Dennis Maple 73,891,505 96.23% 2,897,262 3.77% Jane Mowat 76,767,145 99.97% 21,625 0.03% Chris Muntwyler 75,883,997 98.82% 904,773 1.18% Jane O'Hagan 75,033,103 97.71% 1,755,666 2.29% Edward Ryan 76,223,399 99.26% 565,370 0.74% John Walker 73,935,135 96.28% 2,853,635 3.72% Laura Wilkin 76,767,158 96.28% 21,612 0.03% Appointment of Auditors On a vote by ballot, KPMG LLP, Chartered Professional Accountants and Licensed Public Accountants, were appointed as the auditors of the Corporation until the close of the next annual meeting of shareholders or until their successors are appointed. Number of Votes FOR Percentage of Votes FOR Number of Votes WITHHELD Percentage of Votes WITHHELD 77,241,699 99.66% 265,443 0.34% Say-On-Pay On a vote by ballot, the 'Say-On-Pay' resolution proposed by management of the Corporation was approved. Number of Votes FOR Percentage of Votes FOR Number of Votes AGAINST Percentage of Total Votes AGAINST 74,071,830 96.46% 2,716,938 3.54% About DescartesDescartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at and connect with us on LinkedIn and Twitter. Descartes Investor Contact Laurie McCauley (519) 746-6114 x202358investor@ in to access your portfolio
Yahoo
05-06-2025
- Business
- Yahoo
The Descartes Systems Group Inc (DSGX) Q1 2026 Earnings Call Highlights: Strong Revenue Growth ...
Total Revenue: $168.7 million, up 11.5% from $151.3 million in Q1 last year. Services Revenue: $156.6 million, representing 93% of total revenue, up 13.6% year-over-year. Adjusted EBITDA: $75.1 million, 44.5% of revenue, up 12.1% from $67.0 million in Q1 last year. Net Income: $36.2 million, up 4% from $34.7 million in Q1 last year. Cash Flow from Operations: $53.6 million, 71% of adjusted EBITDA, down from $63.7 million in Q1 last year. Cash Balance: $176 million at the end of April, down from $236 million at the end of January. Gross Margin: 76.4% of revenue, slightly down from 76.6% in Q1 last year. Operating Expenses: Increased by 10.4% year-over-year, primarily due to acquisitions. Acquisition Cost: $115 million plus restructuring costs for 3GTMS. Restructuring Charge: $4 million in Q2, with expected annual cost savings of $15 million. Debt Status: Debt-free with an undrawn $350 million line of credit. Tax Rate: 24.4% of pretax income, expected to trend between 24% and 28% for the year. Warning! GuruFocus has detected 3 Warning Sign with VRNT. Release Date: June 04, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. The Descartes Systems Group Inc (NASDAQ:DSGX) reported a 12% increase in total revenues from the previous year, with services revenues up 14%. The company achieved a 9% increase in income from operations and a 12% rise in adjusted EBITDA, with an adjusted EBITDA margin improvement to 45%. The acquisition of 3GTMS, despite requiring restructuring, is expected to enhance the transportation management portfolio and provide additional functionality to existing customers. The MacroPoint real-time visibility business experienced strong demand, contributing to growth despite a challenging domestic truck market in the US. The Global Trade Intelligence business saw significant growth due to increased demand for tariff and duty information amid changing trade environments. The broader macro environment remains challenging, with shipment volumes down in various transportation modes, particularly in US-China trade. The company had to undertake a restructuring, impacting about 7% of its workforce, to prepare for potential future economic challenges. Cash flow from operations decreased to $53.6 million, down from $63.7 million in the same quarter last year, partly due to acquisition-related charges. The US's removal of the de minimis tariff exemption for Chinese imports led to temporary disruptions in the company's small package import business. Uncertainty in global trade and economic conditions is causing decision-making paralysis among customers, impacting transaction volumes and growth. Q: Can you provide more details on the workforce reduction and its impact on the business? A: Edward Ryan, CEO: The reduction was across the board, affecting various functional areas and geographies, totaling just under 200 people. This decision was made to maintain healthy margins and prepare for market uncertainties. AI advancements have facilitated some of these cuts. Q: What were the headwinds affecting organic services growth this quarter? A: Edward Ryan, CEO: Uncertainty in the market led to fluctuations in transaction volumes, particularly in customs and security filings. Ocean and truck volumes were down, influenced by tariff uncertainties, causing customers to hesitate in decision-making. Q: Have you observed any changes in renewal rates or sales pipeline conversion? A: Edward Ryan, CEO: There hasn't been a significant change in renewal rates or sales pipeline conversion. Sales momentum remains strong, and there have been no major customer defections or contract renegotiations. The future depends on economic developments and tariff negotiations. Q: How does the current downturn compare to previous ones like 2022 or 2023? A: Edward Ryan, CEO: The current situation feels less severe but is marked by greater uncertainty. Unlike past downturns, it's unclear if we're in a recession. The uncertainty stems from unresolved tariff negotiations and geopolitical tensions. Q: What is the status of the 3GTMS acquisition and its integration? A: Allan Brett, CFO: The 3GTMS acquisition is reflected in the baseline calibration. The integration process is ongoing, with efforts to align cost structures and leverage cross-selling opportunities. The acquisition is expected to enhance Descartes' transportation management offerings. Q: How is the competitive environment evolving, especially with recent industry consolidations? A: Edward Ryan, CEO: The competitive landscape is shifting, with prices coming down and private equity firms less active. Descartes is well-positioned to capitalize on acquisition opportunities due to its strong cash reserves and debt capacity. Q: Can you elaborate on the impact of the de minimis rule change on your business? A: Edward Ryan, CEO: The removal of the de minimis exemption for China led to a temporary pause in shipments, but Descartes benefited by offering alternative filing solutions. The company gained business from competitors unable to handle the new transaction types. Q: What are the growth prospects for the Global Trade Intelligence (GTI) solutions? A: Edward Ryan, CEO: GTI solutions, particularly tariffs and duties, are experiencing strong growth, approaching 20% year-over-year. The demand for accurate tariff information is driving this growth, alongside increased interest in data mining tools. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
05-06-2025
- Business
- Yahoo
The Descartes Systems Group Inc (DSGX) Q1 2026 Earnings Call Highlights: Strong Revenue Growth ...
Total Revenue: $168.7 million, up 11.5% from $151.3 million in Q1 last year. Services Revenue: $156.6 million, representing 93% of total revenue, up 13.6% year-over-year. Adjusted EBITDA: $75.1 million, 44.5% of revenue, up 12.1% from $67.0 million in Q1 last year. Net Income: $36.2 million, up 4% from $34.7 million in Q1 last year. Cash Flow from Operations: $53.6 million, 71% of adjusted EBITDA, down from $63.7 million in Q1 last year. Cash Balance: $176 million at the end of April, down from $236 million at the end of January. Gross Margin: 76.4% of revenue, slightly down from 76.6% in Q1 last year. Operating Expenses: Increased by 10.4% year-over-year, primarily due to acquisitions. Acquisition Cost: $115 million plus restructuring costs for 3GTMS. Restructuring Charge: $4 million in Q2, with expected annual cost savings of $15 million. Debt Status: Debt-free with an undrawn $350 million line of credit. Tax Rate: 24.4% of pretax income, expected to trend between 24% and 28% for the year. Warning! GuruFocus has detected 3 Warning Sign with VRNT. Release Date: June 04, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. The Descartes Systems Group Inc (NASDAQ:DSGX) reported a 12% increase in total revenues from the previous year, with services revenues up 14%. The company achieved a 9% increase in income from operations and a 12% rise in adjusted EBITDA, with an adjusted EBITDA margin improvement to 45%. The acquisition of 3GTMS, despite requiring restructuring, is expected to enhance the transportation management portfolio and provide additional functionality to existing customers. The MacroPoint real-time visibility business experienced strong demand, contributing to growth despite a challenging domestic truck market in the US. The Global Trade Intelligence business saw significant growth due to increased demand for tariff and duty information amid changing trade environments. The broader macro environment remains challenging, with shipment volumes down in various transportation modes, particularly in US-China trade. The company had to undertake a restructuring, impacting about 7% of its workforce, to prepare for potential future economic challenges. Cash flow from operations decreased to $53.6 million, down from $63.7 million in the same quarter last year, partly due to acquisition-related charges. The US's removal of the de minimis tariff exemption for Chinese imports led to temporary disruptions in the company's small package import business. Uncertainty in global trade and economic conditions is causing decision-making paralysis among customers, impacting transaction volumes and growth. Q: Can you provide more details on the workforce reduction and its impact on the business? A: Edward Ryan, CEO: The reduction was across the board, affecting various functional areas and geographies, totaling just under 200 people. This decision was made to maintain healthy margins and prepare for market uncertainties. AI advancements have facilitated some of these cuts. Q: What were the headwinds affecting organic services growth this quarter? A: Edward Ryan, CEO: Uncertainty in the market led to fluctuations in transaction volumes, particularly in customs and security filings. Ocean and truck volumes were down, influenced by tariff uncertainties, causing customers to hesitate in decision-making. Q: Have you observed any changes in renewal rates or sales pipeline conversion? A: Edward Ryan, CEO: There hasn't been a significant change in renewal rates or sales pipeline conversion. Sales momentum remains strong, and there have been no major customer defections or contract renegotiations. The future depends on economic developments and tariff negotiations. Q: How does the current downturn compare to previous ones like 2022 or 2023? A: Edward Ryan, CEO: The current situation feels less severe but is marked by greater uncertainty. Unlike past downturns, it's unclear if we're in a recession. The uncertainty stems from unresolved tariff negotiations and geopolitical tensions. Q: What is the status of the 3GTMS acquisition and its integration? A: Allan Brett, CFO: The 3GTMS acquisition is reflected in the baseline calibration. The integration process is ongoing, with efforts to align cost structures and leverage cross-selling opportunities. The acquisition is expected to enhance Descartes' transportation management offerings. Q: How is the competitive environment evolving, especially with recent industry consolidations? A: Edward Ryan, CEO: The competitive landscape is shifting, with prices coming down and private equity firms less active. Descartes is well-positioned to capitalize on acquisition opportunities due to its strong cash reserves and debt capacity. Q: Can you elaborate on the impact of the de minimis rule change on your business? A: Edward Ryan, CEO: The removal of the de minimis exemption for China led to a temporary pause in shipments, but Descartes benefited by offering alternative filing solutions. The company gained business from competitors unable to handle the new transaction types. Q: What are the growth prospects for the Global Trade Intelligence (GTI) solutions? A: Edward Ryan, CEO: GTI solutions, particularly tariffs and duties, are experiencing strong growth, approaching 20% year-over-year. The demand for accurate tariff information is driving this growth, alongside increased interest in data mining tools. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
San Francisco Chronicle
04-06-2025
- Business
- San Francisco Chronicle
Descartes Systems: Fiscal Q1 Earnings Snapshot
WATERLOO, Ontario (AP) — WATERLOO, Ontario (AP) — The Descartes Systems Group Inc. (DSGX) on Wednesday reported profit of $36.2 million in its fiscal first quarter. The Waterloo, Ontario-based company said it had net income of 41 cents per share. The logistics provider posted revenue of $168.7 million in the period. _____
