- Descartes Systems press release ( NASDAQ: DSGX ): Q2 GAAP EPS of $0.27 in-line.
- Revenue of $123M (+17.6% Y/Y) beats by $4.28M .
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As described in more detail below, key financial highlights for Descartes’ six-month period ended July 31, 2022 (1HFY23) included:
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Revenues of $239.4 million, up 18% from $203.4 million in the same period a year ago (1HFY22);
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Revenues were comprised of services revenues of $212.2 million (89% of total revenues), professional services and other revenues of $21.6 million (9% of total revenues) and license revenues of $5.6 million (2% of total revenues). Services revenues were up 17% from $181.8 million in 1HFY22;
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Cash provided by operating activities of $90.8 million, up 4% from $87.3 million in 1HFY22. In 1HFY23, Descartes paid $10.5 million in contingent consideration in respect of previously completed acquisitions of which $5.3 million was accounted for as cash used in operating activities in 1HFY23;
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Income from operations of $62.1 million, up 25% from $49.5 million in 1HFY22;
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Net income of $46.0 million, up 11% from $41.6 million in 1HFY22. Net income as a percentage of revenues was 19%, compared to 20% in 1HFY22;
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Earnings per share on a diluted basis of $0.53, up 10% from $0.48 in 1HFY22; and
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Adjusted EBITDA of $105.2 million, up 20% from $87.4 million in 1HFY22. Adjusted EBITDA as a percentage of revenues was 44%, compared to 43% in 1HFY22.
For further details see:
Descartes Systems GAAP EPS of $0.27 in-line, revenue of $123M beats by $4.28M