On March 1, Waterloo, Ontario-based SaaS provider Descartes Systems Group Inc. reported fiscal 2023 fourth-quarter and year-end earnings figures, which showed total-year revenue of $486 million, an increase of 14% from $424.7 million in the same period a year ago.
For the fiscal year overall that ended Jan. 31, services revenue was $435.7 million (90% of total revenue), professional services and other revenue were $41.9 million (8% of total revenue), and license revenue was $8.4 million (2% of total revenue). Services revenue increased 15% from $378.5 million in fiscal 2022, Descartes said.
For fiscal 4Q, which spanned Nov. 1-Jan. 31, revenue was $125.1 million, up 11% from $112.4 million in fiscal 4Q 2022. Revenue was up 3% from $121.5 million in the previous quarter.
Net income in 4Q was $102.2 million, up 18% from $86.3 million in FY22.
“We continue to invest in our Global Logistics Network to help our customers manage the complete lifecycle of their shipments in an efficient and sustainable manner,” said Edward J. Ryan, Descartes’ CEO. “We invest both organically and through acquisitions consistent with customer feedback on how we can deliver more value to them. Our recent acquisition of GroundCloud reflects our customer-focused investment strategy, adding a road safety compliance platform to help fleets meet delivery commitments efficiently with worker and community safety at the forefront.”