Descartes reported record revenues in Q1FY25, acquired two companies, and aims to enhance solutions.

From GlobeNewswire: 2024-05-29 17:00:00

Descartes Systems Group Inc. (TSX:DSG) (Nasdaq:DSGX) reported record revenues in Q1FY25, with services revenues of $137.8 million, up 11% from Q1FY24. Cash provided by operating activities increased by 30% to $63.7 million. Income from operations rose by 16% to $42.4 million. Net income grew by 18% to $34.7 million.

Descartes also acquired OCR Services, Inc. for approximately $82.8 million and Aerospace Software Developments for around $62.5 million (EUR 58.7 million). The company’s cash position at the end of Q1FY25 was $238.9 million, with a net change in cash of -$82.1 million. Descartes aims to enhance global trade compliance solutions with these acquisitions.

Descartes will host a conference call to discuss its financial results on May 29 at 5:30 p.m. ET. An audio webcast will be available on the Descartes website. Replays of the call will be accessible until June 6, 2024. Descartes (Nasdaq:DSGX) (TSX:DSG) is a leader in software solutions for logistics-intensive businesses worldwide, focusing on productivity and sustainability. Learn more at www.descartes.com and connect on LinkedIn and Twitter. Contact [email protected] for more information.



Read more at GlobeNewswire:: Descartes Announces Fiscal 2025 First Quarter Financial