DESCARTES SYSTEMS GROUP (DSGX) Company Report

Analyst Coverage

Research analysts who have asked questions during DESCARTES SYSTEMS GROUP earnings calls.

Paul Treiber

RBC Capital Markets

9 questions for DSGX

Also covers: BB, CLS, GIB +2 more

Stephanie Price

CIBC World Markets

6 questions for DSGX

Also covers: BCE, DCBO, GIB +6 more

Kevin Krishnaratne

Scotiabank

5 questions for DSGX

Also covers: DCBO, EGLXF, HWAIF +3 more

Dylan Becker

William Blair

4 questions for DSGX

Also covers: AIOT, AZPN, BLND +16 more

Steven Li

Raymond James

4 questions for DSGX

Also covers: BB

Lachlan Brown

Redburn Atlantic

3 questions for DSGX

Also covers: MANH, SPSC

Scott Group

Wolfe Research

3 questions for DSGX

Also covers: AAL, ALGT, ALK +35 more

Cole Couzens

Wolfe Research

2 questions for DSGX

Also covers: AUR, NKLA

Daniel Chan

TD Cowen

2 questions for DSGX

Also covers: BB, CLS, DCBO +1 more

Faith Brunner

William Blair

2 questions for DSGX

Also covers: CWAN, ENFN, ROP +3 more

John Campbell

Stephens Inc.

2 questions for DSGX

Also covers: CNNE, CSGP, EXPI +10 more

Justin Long

Stephens Inc.

2 questions for DSGX

Mark Schappel

Loop Capital Markets

2 questions for DSGX

Also covers: ALTR, AZPN, ETWO +11 more

Meng Shao

National Bank

2 questions for DSGX

Also covers: ALYAF

Raimo Lenschow

Barclays

2 questions for DSGX

Also covers: APPN, BASE, BIGC +35 more

Robert Young

Canaccord Genuity

2 questions for DSGX

Also covers: CLS, DCBO, EGLXF +1 more

Christopher Quintero

Morgan Stanley

1 question for DSGX

Also covers: BILL, BL, BOX +7 more

Colin Eberhardt

Wolfe Research

1 question for DSGX

John Kernan

Cowen Inc.

1 question for DSGX

Also covers: , AS, ASO +15 more

Sam Schmidt

CIBC

1 question for DSGX

Tim Greaves

Loop Capital

1 question for DSGX

Latest news

Recent press releases and 8-K filings for DSGX.

Descartes Announces TSX Acceptance of Normal Course Issuer Bid

DSGX

Share Buyback

Descartes Systems Group Inc. (DSGX) announced on December 9, 2025, that the Toronto Stock Exchange (TSX) has accepted its notice to launch a Normal Course Issuer Bid (NCIB).
Under the bid, Descartes may repurchase up to 8,568,582 common shares, representing approximately 10% of the "public float".
The repurchase period will commence on December 11, 2025, and conclude by December 10, 2026, or upon completion of purchases.
The company plans to fund the bid using existing cash resources.

Dec 9, 2025, 7:19 PM

6-K

Descartes Systems Group Reports Q3 FY26 Results and Corporate Updates

DSGX

Earnings

M&A

Share Buyback

Descartes Systems Group reported Q3 FY26 revenues of $187.7 million, an 11% increase from Q3 FY25, and net income of $43.9 million, up 20% from Q3 FY25. Diluted earnings per share for Q3 FY26 were $0.50, a 19% increase from Q3 FY25.
For the nine-month period ended October 31, 2025 (9MFY26), revenues reached $536.2 million, up 11% from 9MFY25, with net income of $118.2 million, up 12% from 9MFY25. Adjusted EBITDA for 9MFY26 was $240.8 million, a 15% increase from 9MFY25.
The company announced its intention to commence a Normal Course Issuer Bid (NCIB) to repurchase up to 10% of its common shares.
Edward Gardner will succeed Allan Brett as Chief Financial Officer following the filing of the fiscal year ending January 31, 2026, financial statements.
Descartes completed two acquisitions in Q2 and Q3 FY26: PackageRoute for approximately $1.9 million and Finale, Inc. for approximately $39.2 million.

Dec 4, 2025, 3:34 PM

6-K

DSGX Reports Record Q3 2026 Results, Announces CFO Transition, and Plans Share Buyback

DSGX

Earnings

CFO Change

Share Buyback

Descartes reported record quarterly revenues of $187.7 million for Q3 2026, an 11% increase from a year ago, and record Adjusted EBITDA of $85.5 million, up 19% year-over-year, with an Adjusted EBITDA margin of 46%.
Services revenue, which constitutes approximately 93% of total revenues, increased 16% to $173.7 million. The company also achieved an estimated organic services growth of around 7% on an FX neutral basis in Q3.
The company emphasized the overwhelmingly positive impact of AI on its business, driving demand for its Global Logistics Network data, enabling new services, and improving operational efficiency. Descartes also noted significant market share gains in areas like Type 86 filings and BIS 50.
Allan Brett will transition from his CFO role to an advisor position in March 2026, with Ed Gardner set to become the new CFO. Additionally, Descartes plans to apply for a Normal Course Issuer Bid to potentially purchase its shares in the open market.

Dec 3, 2025, 10:30 PM

Transcript

Descartes Reports Record Q3 2026 Results, Highlights AI Impact, and Announces CFO Transition

DSGX

Earnings

CFO Change

Share Buyback

Descartes (DSGX) achieved record Q3 2026 financial results, with total revenues of $187.7 million, up 11% year-over-year, and Adjusted EBITDA growing 19% to a 46% margin.
The company emphasized the positive impact of Artificial Intelligence (AI), which is increasing demand for its data and decision-making tools, enabling new services, and enhancing operational efficiency.
A CFO transition was announced, with Allan Brett planning to retire in March 2026 after 12 years, and Ed Gardner, a long-time colleague, slated to assume the role.
For Q4 2026, Descartes estimates baseline revenues of approximately $161 million and a baseline Adjusted EBITDA of approximately $62.5 million. The company also plans to apply for a Normal Course Issuer Bid for potential share repurchases.

Dec 3, 2025, 10:30 PM

Transcript

Descartes Systems Group Reports Record Q4 and Annual FY25 Results

DSGX

Earnings

Revenue Acceleration/Inflection

M&A

Descartes Systems Group reported record Q4 2025 revenues of $167.5 million, up 13% year-over-year, and Adjusted EBITDA of $75.0 million, up 14%, representing 44.8% of revenue.
For the full fiscal year 2025, total revenues reached $651 million, a 14% increase, with Adjusted EBITDA growing 15% to $284.7 million.
The company maintained a strong financial position, ending the year debt-free with over $235 million in cash and an undrawn $350 million line of credit.
Growth was primarily driven by strong performance in domestic logistics (including MacroPoint), global trade intelligence, and the integration of five acquisitions completed during fiscal 2025.
A restructuring plan completed in Q4 2025 is expected to reduce annual operating expenses by approximately $4 million.