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- Q1 SaaS revenue grows 21% versus 16% a year ago
- Record new business for a Q1 drives ARR 2 growth of 20% versus 14% a year ago
- Delivered record Q1 profit and adjusted EBITDA 1 , adjusted EBITDA margin 1 up to 32%
Kinaxis ® (TSX:KXS,OTC:KXSCF), a global leader in end-to-end supply chain planning and orchestration, reported record results for its first quarter ended March 31, 2026. All amounts are in U.S. dollars. All figures are prepared in accordance with IFRS Accounting Standards (IFRS) unless otherwise indicated.
"We continue to have tremendous success winning the largest new customer opportunities and expanding with existing customers, which together is driving record levels of bookings and ARR growth. We were thrilled with continued traction in scaling up our business through market leading innovations and further customer success earned alongside our partner ecosystem," said Razat Gaurav, chief executive officer at Kinaxis . "We're seeing good early-stage demand for our Maestro Agents, with new paying customers in Q1. At the same time, we experienced strong demand for our market leading, end-to-end AI-driven demand and supply planning capabilities, which use a combination of advanced optimization, heuristics and machine learning models. Agentic and Generative AI are tremendous complements to deep mathematical techniques, and when leveraging the latest data architectures, all these technologies combined will be critical to helping organizations manage their supply chains amidst the unprecedented levels of volatility in demand and supply."
Q1 2026 Highlights
| $ USD thousands, except as otherwise indicated | Q1 2026 | Q1 2025 | Change |
| Total Revenue | 165,568 | 132,788 | 25% |
| SaaS | 102,885 | 84,882 | 21% |
| Subscription term licenses | 19,052 | 9,027 | 111% |
| Professional services | 38,720 | 33,340 | 16% |
| Maintenance and support | 4,911 | 5,539 | (11)% |
| Gross profit | 114,016 | 86,539 | 32% |
| Margin | 69% | 65% |
|
| Profit | 29,420 | 15,913 | 85% |
| Per diluted share | $1.04 | $0.55 |
|
| Adjusted EBITDA 1 | 53,603 | 33,143 | 62% |
| Margin | 32% | 25% |
|
| Cash flows from operating activities | 59,082 | 31,647 | 87% |
| (1) "Adjusted EBITDA" is a non-IFRS measure that is not a recognized, defined or standardized measure under IFRS. This measure as well as any other non-IFRS financial measures reported by Kinaxis are defined in the "Non-IFRS Measures" section of this news release. | |||
Key Performance Indicators
The company's Annual Recurring Revenue 2 (ARR), which includes subscription amounts related to both SaaS and on-premise contracts, rose 20% to $447 million at the end of the quarter.
| $USD millions | Q1 2026 | Q1 2025 | Change |
| Annual recurring revenue 2 | 447 | 372 | 20% |
| (2) Annual Recurring Revenue (ARR) is the total annualized value of recurring subscription amounts (ultimately recognized as SaaS, Subscription term licenses and Maintenance and support revenue) of all subscription contracts at a point in time. Annualized subscription amounts are determined solely by reference to the underlying contracts, normalizing for the varying revenue recognition treatments under IFRS 15 for cloud-based versus on-premise subscription amounts. It excludes one-time fees, such as for non-recurring professional services, and assumes that customers will renew the contractual commitments on a periodic basis as those commitments come up for renewal, unless such renewal is known to be unlikely. We believe that this measure provides a more current indication of our performance in the growth of our subscription business than other metrics. | |||
The nature of the company's long-term contracts provides visibility into future, contracted revenue. The following table presents revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at March 31, 2026.
|
$USD millions |
2026 |
2027 |
2028 and later |
Total |
| SaaS | 295.7 | 306.2 | 303.5 | 905.4 |
| Maintenance and support | 11.4 | 13.8 | 12.3 | 37.5 |
| Subscription term licenses | 2.2 | 3.3 | 0.3 | 5.8 |
| Total | 309.3 | 323.3 | 316.1 | 948.7 |
Financial Guidance
Kinaxis is reiterating its fiscal 2026 financial guidance, as follows.
|
| FY 2026 Guidance |
| Total revenue | $620-635 million
|
| SaaS revenue growth
| 17-19% growth
|
| Adjusted EBITDA 1 margin
| 25-26%
|
"I couldn't be more excited than to complete my time at Kinaxis with such a stellar quarter. Despite our outperformance, we are maintaining all aspects of annual guidance, which we provided only 60 days ago. It is early in the year and we will gather more information and review assumptions next quarter. In any case, Kinaxis exits the first quarter with even more confidence in our 2026 targets," said Blaine Fitzgerald, chief financial officer at Kinaxis.
Guidance in this press release is provided to enhance visibility into Kinaxis' expectations for financial targets for the periods indicated. Please refer to the section regarding forward-looking statements that forms an integral part of this release. This press release along with the financial statements and MD&A for the quarter ended March 31, 2026 are available on Kinaxis' website and on SEDAR+ at www.sedarplus.ca .
Conference Call
Kinaxis will host a conference call tomorrow, May 7, 2026, to discuss these results. Razat Gaurav, chief executive officer, and Blaine Fitzgerald, chief financial officer, will host the call starting at 8:30 a.m. Eastern Time. A question and answer session will follow management's presentation.
| DATE: | Thursday, May 7, 2026 |
| TIME: | 8:30 a.m. Eastern Time |
| WEBCAST | https://events.q4inc.com/attendee/986528748 (available for three months) |
About Kinaxis Inc.
Kinaxis is a global leader in modern supply chain planning and orchestration, powering complex global supply chains and supporting the people who manage them. Our powerful, AI-infused supply chain orchestration platform, Maestro™, combines proprietary technologies and techniques that provide full transparency and agility across the entire supply chain – from multi-year strategic planning to last-mile delivery. We are trusted by renowned global brands to provide the agility and predictability needed to navigate today's volatility and disruption. For more news and information, please visit kinaxis.com or follow us on LinkedIn .
Non-IFRS Measures
This press release makes reference to Adjusted Profit and Adjusted EBITDA, which are non-IFRS financial measures, as well as Adjusted EBITDA margin which expresses Adjusted EBITDA as a percentage of revenue. Adjusted Profit, Adjusted EBITDA and Adjusted EBITDA margin are not recognized, defined or standardized measures under IFRS. We use these measures to provide investors with supplemental information on our operating performance and to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. We believe that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Providing these non-IFRS measures provides useful information because they portray the financial results of the Company before certain expenses that do not impact the ongoing operating decisions taken by management. Management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our capital expenditure and working capital requirements, and to determine components of employee compensation.
Adjusted Profit represents profit adjusted to exclude our equity compensation plans. Adjusted EBITDA represents profit adjusted to exclude our equity compensation plans, income tax expense, depreciation and amortization, foreign exchange loss (gain) and net finance (income) expense. Adjusted EBITDA margin expresses Adjusted EBITDA as a percentage of revenue. Our definitions of Adjusted Profit, Adjusted EBITDA and Adjusted EBITDA margin will likely differ from those used by other companies (including our peers) and therefore comparability may be limited. Non-IFRS measures should not be considered a substitute for or in isolation from measures prepared in accordance with IFRS. Investors are encouraged to review our financial statements and disclosures in their entirety and are cautioned not to put undue reliance on non-IFRS measures and view them in conjunction with the most comparable IFRS financial measures. Kinaxis has reconciled Adjusted Profit and Adjusted EBITDA to the most comparable IFRS financial measure as follows:
| Three months ended March 31, | ||||
|
| 2026 |
| 2025 | |
|
| (In thousands of USD) | |||
| Profit | 29,420 |
| 15,913 | |
| Share-based compensation | 8,620 |
| 9,347 | |
| Adjusted profit | 38,040 |
| 25,260 | |
| Income tax expense | 13,915 |
| 5,740 | |
| Depreciation and amortization | 4,676 |
| 5,423 | |
| Foreign exchange (gain) | (494) |
| (914) | |
| Net finance income | (2,534) |
| (2,366) | |
|
| 15,563 |
| 7,883 | |
| Adjusted EBITDA | 53,603 |
| 33,143 | |
| Adjusted EBITDA as a percentage of revenue | 32% |
| 25% | |
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements, future-oriented financial information and financial outlook within the meaning of applicable securities laws. Forward-looking statements, future-oriented financial information and financial outlook include statements as to our expectations for:
- growth of annual total revenue, annual SaaS revenue growth, and our expectations for Adjusted EBITDA margin achievement, in each case looking forward for our fiscal year ending December 31, 2026;
- SaaS growth and increased profitability in years beyond 2026; and
- contracted revenue in future periods, including 2026, 2027 and 2028 and later.
This release also includes forward-looking statements as to Kinaxis' growth opportunities and the potential benefits of, and markets and demand for, Kinaxis' products and services. These statements are subject to certain assumptions, risks and uncertainties, including our view of the relative position of Kinaxis' products and services compared to competitive offerings in the industry.
In particular, our guidance for 2026 annual total revenue, annual SaaS revenue growth and annual Adjusted EBITDA margin, as well as our comments on our expectations for SaaS growth and increased profitability in years beyond 2026, are subject to certain assumptions and associated risks including:
- our ability to win business from new customers and expand business from existing customers;
- the timing of new customer wins and expansion decisions by our existing customers;
- maintaining our customer retention levels , and specifically, that customers will renew contractual commitments on a periodic basis as those commitments come up for renewal, at rates consistent with our historic experience;
- anticipated trends, standards and challenges in our business and the markets we operate in;
- fluctuations in the value of foreign currencies relative to the U.S. Dollar; and
- with respect to Adjusted EBITDA and profitability, our ability to contain expense levels while expanding our business.
Our guidance and commentary for achievement of contracted revenue in future periods, including in 2026, 2027 and 2028 and later, is based on assumptions and associated risks including:
- our ability to satisfy material unperformed obligations under our long-term contracts; and
- the continued financial capacity and creditworthiness of our customers under long-term contracts.
These and other assumptions, risks and uncertainties may cause Kinaxis' actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by forward-looking statements, future-oriented financial information or financial outlook. Material risks and uncertainties relating to our business are described under the headings "Forward-Looking Statements" and "Risks and Uncertainties" in our annual MD&A dated March 4, 2026, and under the heading "Risk Factors" in our Annual Information Form dated March 4, 2026, which are available at www.sedarplus.ca . Readers are cautioned that the assumptions used in the preparation of forward-looking statements, future-oriented financial information and financial outlook, although considered reasonable at the time of preparation, may prove to be imprecise or inaccurate and, as such, undue reliance should not be placed on such information. Our actual results, performance and achievements could differ materially from those expressed in, or implied by, such forward-looking statements, future-oriented financial information or financial outlook. Forward-looking statements, future-oriented financial information and financial outlook are provided to help readers understand management's expectations as at the date of this release and may not be suitable for other purposes. Readers are cautioned not to place undue reliance on forward-looking statements. Kinaxis assumes no obligation to update or revise any forward-looking statements, future-oriented financial information or financial outlook whether as a result of new information, future events or otherwise, except as expressly required by law.
SOURCE: Kinaxis Inc.
| Condensed Consolidated Interim Statements of Financial Position (Expressed in thousands of USD) | |||||||
|
| March 31, | December 31, | |||||
|
|
|
| |||||
| Assets |
|
| |||||
| Current assets: |
|
| |||||
| Cash and cash equivalents | $ | 230,129 |
| $ | 149,614 |
| |
| Short-term investments |
| 97,499 |
|
| 175,095 |
| |
| Trade and other receivables |
| 167,465 |
|
| 165,781 |
| |
| Prepaid expenses |
| 28,082 |
|
| 15,743 |
| |
|
|
| 523,175 |
|
| 506,233 |
| |
| Non-current assets: |
|
| |||||
| Unbilled receivables |
| 2,637 |
|
| 1,596 |
| |
| Other receivables |
| 1,014 |
|
| 1,047 |
| |
| Prepaid expenses |
| 3,181 |
|
| 1,558 |
| |
| Deferred tax assets |
| 15,703 |
|
| 18,225 |
| |
| Contract acquisition costs |
| 40,326 |
|
| 37,038 |
| |
| Property and equipment |
| 27,048 |
|
| 28,526 |
| |
| Right-of-use assets |
| 43,363 |
|
| 43,090 |
| |
| Intangible assets |
| 9,760 |
|
| 10,804 |
| |
| Goodwill |
| 75,810 |
|
| 76,597 |
| |
|
|
| 218,842 |
|
| 218,481 |
| |
|
|
|
| |||||
|
| $ | 742,017 |
| $ | 724,714 |
| |
|
|
|
| |||||
| Liabilities and Shareholders' Equity |
|
| |||||
| Current liabilities: |
|
| |||||
| Trade payables and accrued liabilities | $ | 109,021 |
| $ | 90,040 |
| |
| Deferred revenue |
| 189,585 |
|
| 161,060 |
| |
| Lease obligations |
| 6,119 |
|
| 5,938 |
| |
|
|
| 304,725 |
|
| 257,038 |
| |
| Non-current liabilities: |
|
| |||||
| Lease obligations |
| 41,543 |
|
| 42,065 |
| |
| Deferred tax liabilities |
| 3,557 |
|
| 4,042 |
| |
|
|
| 45,100 |
|
| 46,107 |
| |
| Shareholders' equity: |
|
| |||||
| Share capital |
| 386,780 |
|
| 363,246 |
| |
| Accumulated other comprehensive loss |
| (2,791 | ) |
| (223 | ) | |
| Retained earnings |
| 8,203 |
|
| 58,546 |
| |
|
|
| 392,192 |
|
| 421,569 |
| |
|
|
|
| |||||
|
| $ | 742,017 |
| $ | 724,714 |
| |
| Condensed Consolidated Interim Statements of Comprehensive Income (Expressed in thousands of USD, except share and per share data) | |||||
| Three months ended March 31, | |||||
|
|
| 2026 |
|
| 2025 |
| Revenue | $ | 165,568 |
| $ | 132,788 |
|
|
|
| |||
| Cost of revenue |
| 51,552 |
|
| 46,249 |
|
|
|
| |||
| Gross profit |
| 114,016 |
|
| 86,539 |
|
|
|
| |||
| Operating expenses: |
|
| |||
| Selling and marketing |
| 29,563 |
|
| 28,689 |
| Research and development |
| 27,460 |
|
| 22,668 |
| General and administrative |
| 16,687 |
|
| 16,866 |
|
|
| 73,710 |
|
| 68,223 |
|
|
|
| |||
|
|
| 40,306 |
|
| 18,316 |
|
|
|
| |||
| Other income: |
|
| |||
| Foreign exchange gain |
| 494 |
|
| 914 |
| Net finance and other income |
| 2,535 |
|
| 2,423 |
|
|
| 3,029 |
|
| 3,337 |
|
|
|
| |||
| Profit before income taxes |
| 43,335 |
|
| 21,653 |
|
|
|
| |||
| Income tax expense |
| 13,915 |
|
| 5,740 |
|
|
|
| |||
| Profit |
| 29,420 |
|
| 15,913 |
|
|
|
| |||
| Other comprehensive income (loss): |
|
| |||
| Items that are or may be reclassified subsequently to profit |
|
| |||
| Foreign currency translation differences - foreign operations |
| (2,147 | ) |
| 1,077 |
| Change in valuation of cash flow hedges |
| (421 | ) |
| 577 |
|
|
| (2,568 | ) |
| 1,654 |
|
|
|
| |||
| Total comprehensive income | $ | 26,852 |
| $ | 17,567 |
|
|
|
| |||
| Basic earnings per share | $ | 1.06 |
| $ | 0.57 |
| Weighted average number of basic Common Shares |
| 27,717,242 |
|
| 28,094,465 |
| Diluted earnings per share | $ | 1.04 |
| $ | 0.55 |
| Weighted average number of diluted Common Shares |
| 28,313,923 |
|
| 28,788,191 |
| Condensed Consolidated Interim Statements of Changes in Shareholders' Equity (Expressed in thousands of USD) | |||||||||||||||||||||
|
| Accumulated other comprehensive income (loss) |
| |||||||||||||||||||
|
| Share capital | Contributed surplus | Cash flow hedges | Currency translation adjustments | Total | Retained earnings | Total equity | ||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||||||
| Balance, December 31, 2024 | $ | 329,312 |
| $ | 12,078 |
| $ | (1,203 | ) | $ | (2,644 | ) | $ | (3,847 | ) | $ | 57,968 |
| $ | 395,511 |
|
|
|
|
|
|
|
|
|
| ||||||||||||||
| Profit |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 15,913 |
|
| 15,913 |
|
| Other comprehensive income |
| — |
|
| — |
|
| 577 |
|
| 1,077 |
|
| 1,654 |
|
| — |
|
| 1,654 |
|
| Total comprehensive income |
| — |
|
| — |
|
| 577 |
|
| 1,077 |
|
| 1,654 |
|
| 15,913 |
|
| 17,567 |
|
|
|
|
|
|
|
|
|
| ||||||||||||||
| Share options exercised |
| 7,625 |
|
| (1,805 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| 5,820 |
|
| Restricted share units vested |
| 12,828 |
|
| (12,828 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| Performance share units vested |
| 3,262 |
|
| (3,262 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| Share-based payments |
| — |
|
| 8,527 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 8,527 |
|
| Shares repurchased |
| (974 | ) |
| (2,710 | ) |
| — |
|
| — |
|
| — |
|
| (12,957 | ) |
| (16,641 | ) |
| Total shareholder transactions |
| 22,741 |
|
| (12,078 | ) |
| — |
|
| — |
|
| — |
|
| (12,957 | ) |
| (2,294 | ) |
|
|
|
|
|
|
|
|
| ||||||||||||||
| Balance, March 31, 2025 | $ | 352,053 |
| $ | — |
| $ | (626 | ) | $ | (1,567 | ) | $ | (2,193 | ) | $ | 60,924 |
| $ | 410,784 |
|
|
|
|
|
|
|
|
|
| ||||||||||||||
| Balance, December 31, 2025 |
| 363,246 |
|
| — |
|
| 136 |
|
| (359 | ) |
| (223 | ) |
| 58,546 |
|
| 421,569 |
|
|
|
|
|
|
|
|
|
| ||||||||||||||
| Profit |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 29,420 |
|
| 29,420 |
|
| Other comprehensive loss |
| — |
|
| — |
|
| (421 | ) |
| (2,147 | ) |
| (2,568 | ) |
| — |
|
| (2,568 | ) |
| Total comprehensive income (loss) |
| — |
|
| — |
|
| (421 | ) |
| (2,147 | ) |
| (2,568 | ) |
| 29,420 |
|
| 26,852 |
|
|
|
|
|
|
|
|
|
| ||||||||||||||
| Share options exercised |
| 12,533 |
|
| (3,075 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| 9,458 |
|
| Restricted share units vested |
| 21,906 |
|
| (3,902 | ) |
| — |
|
| — |
|
| — |
|
| (18,004 | ) |
| — |
|
| Performance share units vested |
| 7,934 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (7,934 | ) |
| — |
|
| Share-based payments |
| — |
|
| 6,977 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 6,977 |
|
| Shares repurchased |
| (8,333 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| (53,825 | ) |
| (62,158 | ) |
| Change in obligation for share repurchases |
| (10,506 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (10,506 | ) |
| Total shareholder transactions |
| 23,534 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (79,763 | ) |
| (56,229 | ) |
|
|
|
|
|
|
|
|
| ||||||||||||||
| Balance, March 31, 2026 | $ | 386,780 |
| $ | — |
| $ | (285 | ) | $ | (2,506 | ) | $ | (2,791 | ) | $ | 8,203 |
| $ | 392,192 |
|
| Condensed Consolidated Interim Statements of Cash Flows (Expressed in thousands of USD) | |||||||
|
| Three months ended March 31, | ||||||
|
|
| 2026 |
|
| 2025 |
| |
|
|
|
| |||||
| Cash flows from operating activities |
|
| |||||
|
|
|
| |||||
| Profit | $ | 29,420 |
| $ | 15,913 |
| |
| Items not affecting cash: |
|
| |||||
| Depreciation of property and equipment and right-of-use assets |
| 3,837 |
|
| 4,619 |
| |
| Amortization of intangible assets |
| 839 |
|
| 804 |
| |
| Share-based payments |
| 8,620 |
|
| 9,347 |
| |
| Net finance income |
| (2,534 | ) |
| (2,366 | ) | |
| Income tax expense |
| 13,915 |
|
| 5,740 |
| |
| Change in operating assets and liabilities |
| 6,829 |
|
| 13,781 |
| |
| Interest received |
| 2,565 |
|
| 2,903 |
| |
| Interest paid |
| (422 | ) |
| (449 | ) | |
| Income taxes paid |
| (3,987 | ) |
| (18,645 | ) | |
|
|
| 59,082 |
|
| 31,647 |
| |
| Cash flows from (used in) investing activities |
|
| |||||
|
|
|
| |||||
| Purchase of property and equipment |
| (990 | ) |
| (1,582 | ) | |
| Purchase of short-term investments |
| (25,700 | ) |
| (122,445 | ) | |
| Redemption of short-term investments |
| 103,577 |
|
| 77,564 |
| |
|
|
| 76,887 |
|
| (46,463 | ) | |
| Cash flows used in financing activities |
|
| |||||
|
|
|
| |||||
| Payment of lease obligations |
| (1,500 | ) |
| (1,561 | ) | |
| Repurchase of shares |
| (61,592 | ) |
| (17,388 | ) | |
| Proceeds from exercise of stock options |
| 9,458 |
|
| 5,820 |
| |
|
|
| (53,634 | ) |
| (13,129 | ) | |
|
|
|
| |||||
| Increase (decrease) in cash and cash equivalents |
| 82,335 |
|
| (27,945 | ) | |
|
|
|
| |||||
| Cash and cash equivalents, beginning of period |
| 149,614 |
|
| 172,192 |
| |
|
|
|
| |||||
| Effects of exchange rates on cash and cash equivalents |
| (1,820 | ) |
| (758 | ) | |
| Cash and cash equivalents, end of period | $ | 230,129 |
| $ | 143,489 |
| |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260506915169/en/
Investor Relations
Rick Wadsworth | Kinaxis
rwadsworth@kinaxis.com
613-907-7613
Media Relations
Matt Tatham | Kinaxis
mtatham@kinaxis.com
917-446-7227
