Descartes Systems Group Inc. · TSX:DSG
Descartes Systems — Investor Presentation (March 2026)
22 slides from Descartes Systems's investor presentation, March 2026
Slide 1: Descartes – Uniting Business in Commerce
Descartes – Uniting Business in Commerce March 2026 Proprietary and Copyright of The Descartes Systems Group Inc. All rights reserved.
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements to be made today and in this presentation, and that may be made in response to questions, constitute forward-looking information for the purposes of applicable securities laws (“forward-looking statements”), including, but not limited to: statements using the
Slide 3: Investment Highlights
Investment Highlights World’s Largest Multi-Modal and Neutral Logistics Network Technology, Data and AI used to Automate and Optimize Logistics and Supply Chain Processes Solutions Powered by Vast Amounts of Inter-Enterprise Data from Connected Parties Scaled Network + Inter-Enterprise Data + Trust
Slide 4: Descartes at a Glance
Descartes at a Glance Revenues (US$ millions) 729 651 Global Logistics Network powers more responsive, 573 efficient, secure and sustainable international and domestic supply chains Over 30,000 customers connect and collaborate with hundreds of thousands of trading partners FY24 FY25 FY26 Syst
Slide 5: Global Logistics Network
GLOBAL LOGISTICS NETWORK CARRIERS SHIPPERS Ocean Air Ground Rail Retailers Manufacturers Service & Distributors Providers DESCARTES GOVERNMENTS INTERMEDIARIES GLN Customs Regulators Associations Customs Freight Forwarders Brokers Brokers & 3PLs 5
Slide 6: Solutions
SOLUTIONS Ecommerce, Shipping Global Trade Transportation & Fulfillment Intelligence Broker & Forwarder Routing, Mobile Management Enterprise Systems Customs & & Telematics Regulatory Compliance DESCARTES GLN 6
Slide 7: Industry-Leading Customers
Industry-Leading Customers AIR OCEAN TRUCK INTERMEDIARIES R E TA I L E RS M A N U FA C T U R E RS D I S T R I B U TO RS
Slide 8: Customer Case Studies
Customer Case Studies Leverages Descartes’ Advanced Home Leverages many Descartes solutions Descartes’ solutions help Delta Airlines Delivery solution for: across multiple DHL operating groups: meet a growing number of logistic challenges across the globe: Real-time delivery appointment Global F
Slide 9: Why We Win
Why We Win Global Multi- Neutral modal Network Pure play supply chain and logistics technology provider with compelling combination of network, applications and data content – designed for use by human and digital workers 9
Slide 10: Market Drivers and Opportunities
Market Drivers and Opportunities Inter-Enterprise Logistics is an inter-enterprise problem - the Global Logistics Network provides a trusted source of specialized multi- Network party supply chain and logistics execution and data offering a foundation and global scale for AI G l o b a l Tra d e Heig
Slide 11: M&A is a Core Competency for Descartes
M&A is a Core Competency for Descartes Descartes’ acquisition strategy is a key enabler of its ‘Total Growth’ model Has completed 31 acquisitions since 2017 for a total consideration of ~US $1.4 billion Disciplined approach that is focused on complementary 2017 2018 2019 2020 2021 2022 2023 2024
Slide 12: Recent Acquisition Success
Recent Acquisition Success Acquired 3G (March 2025) for ~$113mm Acquired Sellercloud (October 2024) for Acquired OCR (March 2024) for ~$83mm ~$110mm + up to ~$20mm earn-out 3G is a leading provider of transportation Sellercloud is a leading provider of OCR is a leading provider of global trade
Slide 13: Industry-Leading Solutions Help Customers Reduce Environmental Footprint
Industry-Leading Solutions Help Customers Reduce Environmental Footprint Descartes’ Annual Environmental Impact – We Helped our Customers Save *Infographic Calculations Were Made Using The Paper Calculator From Environmental Paper Network, The Vehicle Co2 Emissions Calculator From Commercial Fleet,
Slide 14: Financial Overview
Financial Overview DESCARTES
Slide 15: Financial Highlights
Financial Highlights Strong and consistent revenue growth Highly-recurring subscription and transaction-based revenue model High-quality and diverse revenue profile Continued margin expansion through cost control and operating efficiency Robust cash generation and high conversion rates Proven acquis
Slide 16: Strong and Consistent Growth
Strong and Consistent Growth Revenue Cash Flow from Operations 13% CAGR 13% CAGR $729 $266 $651 $573 $208 $219 15% YoY 25% YoY $193 $76 $167 $61 FY24 FY25 FY26 Q4-25 Q4-26 FY24 FY25 FY26 Q4-25 Q4-26 Net Income and Net Income as a % of Revenues Adjusted EBITDA(1) and Adjusted EBITDA as a % of Revenue
Slide 17: Efficient and Disciplined Operating Model
Efficient and Disciplined Operating Model Gross Margin Sales and Marketing 76% 76% 77% 76% 77% 77% 78% 12% 12% 11% 11% 11% 11% 11% FY24 FY25 FY26 Q1-26 Q2-26 Q3-26 Q4-26 FY24 FY25 FY26 Q1-26 Q2-26 Q3-26 Q4-26 Research and Development General and Administrative 16% 15% 15% 15% 15% 14% 14% 11% 10% 10%
Slide 18: Baseline Calibration
Baseline Calibration Figures per Quarter Baseline Actual Actual % of Baseline Baseline revenues = visible, contracted and Q1’26 Revenue $145.0 $168.7 116% recurring revenues at the beginning of each Net Income $36.2 quarter1. Baseline revenues is not a revenues Net Income as a % of Revenues 21.5%
Slide 19: Capital Structure – January 31, 2026
Capital Structure – January 31, 2026 • Common shares • 86.0 million – Basic (current) • 87.6 million – Fully diluted (current) • Mixed-Shelf filed in July 2024 (no limit – currently unused) • Expiring August 2026 • Cash and cash equivalents • US $356.5 million • Acquisition line of credit • US $350.
Slide 20: Investment Highlights
Investment Highlights World’s Largest Multi-Modal and Neutral Logistics Network Technology, Data and AI used to Automate and Optimize Logistics and Supply Chain Processes Solutions Powered by Vast Amounts of Inter-Enterprise Data from Connected Parties Scaled Network + Inter-Enterprise Data + Trust
Slide 21: Reconciliation of Non-GAAP Financial Measures – Q4-26
Reconciliation of Non-GAAP Financial Measures - Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues – Q4-26 We prepare and release quarterly unaudited and annual audited financial statements prepared in The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of rev
Slide 22: Reconciliation of Non-GAAP Financial Measures – FY26
Reconciliation of Non-GAAP Financial Measures - Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues – FY26 We prepare and release quarterly unaudited and annual audited financial statements prepared in The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of reve
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