Below are the financial statements of Descartes Systems Group, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2025 | 2024 | 2023 |
|---|---|---|---|
| Revenues | 651a | 572.93a | 486.01a |
| Cost of revenues (exclusive of amortization presented separately below) | -158.57a | -138.3a | -113.33a |
| Gross margin | 492.43a | 434.64a | 372.69a |
| Expenses | — | — | — |
| Sales and marketing | -73.69a | -68.16a | -56.57a |
| Research and development | -95.5a | -84.1a | -70.35a |
| General and administrative | -65.25a | -57.37a | -49.71a |
| Other charges | -7.47a | -21.65a | -5.44a |
| Amortization of intangible assets | -69.4a | -60.5a | -60.18a |
| Expenses | -311.3a | -291.79a | -242.25a |
| Income from operations | 181.12a | 142.85a | 130.43a |
| Interest expense | -1a | -1.36a | -1.17a |
| Investment and other income | 11.51a | 9.67a | 4.46a |
| Income before income taxes | 191.63a | 151.15a | 133.73a |
| Income tax expense (recovery) | — | — | — |
| Current | -53.4a | -41.22a | -28.25a |
| Deferred | -5.04a | -5.98a | -3.24a |
| Income tax expense (recovery) | -48.36a | -35.25a | -31.49a |
| Net income | 143.27a | 115.91a | 102.24a |
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