Descartes Annual Revenues Rise 22% - Modern Distribution Management

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Descartes Annual Revenues Rise 22%

SaaS provider Descartes Systems Group reported fiscal-year total revenues of $424.7 million, above prior-year revenues of $348.7 million.
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Descartes Systems Group Inc., (TSX:DSG) (Nasdaq:DSGX) of Waterloo, Ontario, says fiscal-year 2022 revenues reached $427 million, a 22% increase from FY 2021.

The company’s FY 2022 ended January 31.

Descartes reported FY 2022 income from operations of $103.4 million, up 45% from $71.4 million the previous year. Net income was $86.3 million, up 66% from $52.1 million in 2021.

“Changes in geopolitical and economic environments create complexity and uncertainty for our customers,” Descartes CEO Edward J. Ryan said. “Inflationary pressures and international sanctions/restrictions, among other things, add to the challenges faced by today’s supply chain participants. Our Global Logistics Network and various compliance solutions help our customers understand and comply with sanctions, adapt to rapidly shifting regulatory conditions, and quickly make cost-effective changes in their supply chains. We continue to leverage our experience and financial position to grow our Global Logistics Network for the benefit of our customers, such as the recent addition of NetCHB to our business.”

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