Descartes Fiscal 2023 Revenue Up 14% Over Prior Year - Modern Distribution Management

Log In

Descartes Fiscal 2023 Revenue Up 14% Over Prior Year

Fiscal 2023 4Q revenue was $125.1 million, up 11% from $112.4 million in fiscal 4Q 2022, the company said.

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.”

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.