The Descartes Systems Group Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $729.0M | $651.0M | $572.9M | $424.7M | $348.7M | $325.8M | $275.2M | $237.4M |
| Cost of Revenue | $167.1M | $158.6M | $138.3M | $101.8M | $89.9M | $85.7M | $75.0M | $63.7M |
| Gross Profit | $561.9M | $492.4M | $434.6M | $322.9M | $258.8M | $240.1M | $200.2M | $173.7M |
| Gross Margin | 77.1% | 75.6% | 75.9% | 76.0% | 74.2% | 73.7% | 72.7% | 73.2% |
| Operating Expenses | ||||||||
| Research & Development | $105.3M | $95.5M | $84.1M | $62.6M | $54.1M | $53.5M | $47.9M | $41.8M |
| SG&A Expense | $72.5M | $65.2M | $57.4M | $44.5M | $36.3M | $34.6M | $30.0M | $25.4M |
| Operating Income | $210.0M | $181.1M | $142.8M | $103.4M | $71.4M | $52.3M | $41.4M | $35.9M |
| Operating Margin | 28.8% | 27.8% | 24.9% | 24.4% | 20.5% | 16.0% | 15.1% | 15.1% |
| Interest Expense | — | — | — | $1.1M | $1.2M | $4.4M | $2.1M | $1.3M |
| Pretax Income | $217.1M | $191.6M | $151.2M | $102.6M | $70.4M | $48.0M | $39.5M | $34.7M |
| Income Tax Expense | $53.3M | $48.4M | $35.2M | $16.3M | $18.3M | $11.0M | $8.2M | $7.9M |
| Net Income | $163.8M | $143.3M | $115.9M | $86.3M | $52.1M | $37.0M | $31.3M | $26.9M |
| Net Margin | 22.5% | 22.0% | 20.2% | 20.3% | 14.9% | 11.4% | 11.4% | 11.3% |
| EPS (Basic) | $1.91 | $1.68 | $1.36 | $1.02 | $0.62 | $0.45 | $0.41 | $0.35 |
| EPS (Diluted) | $1.87 | $1.64 | $1.34 | $1.00 | $0.61 | $0.45 | $0.40 | $0.35 |
| Shares Outstanding (Basic) | 85.9M | 85.4M | 85.1M | 84.6M | 84.4M | 81.7M | 76.8M | 76.3M |
| Shares Outstanding (Diluted) | 87.6M | 87.3M | 86.8M | 86.2M | 85.8M | 82.9M | 77.8M | 77.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |