Successful quarter for Descartes
Descartes has announced its financial results for the first quarter of its fiscal year 2020. “Our customers continue to benefit from our investments that have expanded the global logistics network with new technologies, content and trading partners,” said Edward J. Ryan, Descartes’ CEO.
“So we remain focused on operating a business with strong margins that generates cash to make these types of investments possible.”
Revenues of USD 78 million, up 16% from USD 67 million in the first quarter of fiscal year 2019 and up 10% from USD 71 million in the previous quarter (Q4/FY19). Adjusted ebitda was USD 28.7 million, up 30% from USD 22.1 million in Q1FY19 and up 15% from USD 25 million in Q4/FY19. Adjusted ebitda as a percentage of revenues was 37%, compared to 33% in Q1/FY19 and 35% in Q4/FY19. (mw)