Press Release: Kinaxis Inc. Reports Record Fourth Quarter 2025 Results

Dow Jones
Mar 05
   --  Q4 SaaS revenue grows 19% as record incremental bookings fuels ARR3 
      growth of 20% and an RPO balance approaching $1 billion 
 
   --  Delivered record Q4 profit and adjusted EBITDA2, adjusted EBITDA 
      margin2 up to 26% as operating leverage improves 
 
   --  Fiscal 2025 SaaS revenue growth hits 17% and Adjusted EBITDA margin2 
      rises to 25%, demonstrating ongoing balance between strong growth and 
      profitability 
OTTAWA, Ontario--(BUSINESS WIRE)--March 04, 2026-- 

Kinaxis$(R)$ (TSX:KXS), a global leader in end-to-end supply chain orchestration, reported record results for its fourth quarter ended December 31, 2025. All amounts are in U.S. dollars. All figures are prepared in accordance with IFRS Accounting Standards (IFRS) unless otherwise indicated.

"Our team delivered a record fourth quarter and fiscal 2025. The results demonstrate the growing need for organizations to manage unprecedented levels of volatility in demand and supply with Maestro, our market-leading AI-enabled supply chain planning, decision-making and orchestration platform," said Razat Gaurav, chief executive officer at Kinaxis. "Our improved focus on large, global organizations that run complex supply chains is paying off, including new wins with leaders in semiconductors, data storage, oil and gas, among others. We also had a record year expanding with our installed base, reflecting enhanced focus and execution in that key go-to-market motion and a much broader set of capabilities in Maestro. Our customers are strategically partnering with Kinaxis to reimagine their supply chain planning, leverage state-of-the-art data and semantic architectures, and rapidly innovate with our composable agentic orchestration capabilities."

Q4 2025 Highlights

 
 $ USD thousands, except as otherwise 
 indicated                                         Q4 2025     Q4 2024  Change 
----------------------------------------------  ----------  ----------  ------ 
 Total Revenue                                     144,235                 16% 
  (constant currency(2) )                          140,786     123,935     14% 
----------------------------------------------  ----------  ----------  ------ 
                                          SaaS      97,153                 19% 
                       (constant currency(2) )      94,974      81,856     16% 
                    Subscription term licenses       1,716       1,592     8 % 
                         Professional services      39,951      35,092    14 % 
                       Maintenance and support       5,415       5,395     --% 
----------------------------------------------  ----------  ----------  ------ 
 Gross profit                                       94,259     75,102 
  Margin                                               65%         61%     26% 
----------------------------------------------  ----------  ----------  ------ 
 Profit (loss)                                      19,501   (16,316) 
  Per diluted share                                  $0.68     $(0.58)   --(1) 
----------------------------------------------  ----------  ----------  ------ 
                                                    37,575     31,462 
 Adjusted EBITDA(2) Margin                             26%         25%     19% 
----------------------------------------------  ----------  ----------  ------ 
 Cash flows from operating activities               29,942      24,117     24% 
----------------------------------------------  ----------  ----------  ------ 
 
(1) The Percentage change has been excluded as it is not meaningful. 
(2) "Adjusted EBITDA" and constant currency metrics are non-IFRS measures that 
are not a recognized, defined or standardized measure under IFRS. These 
measures as well as any other non-IFRS financial measures reported by Kinaxis 
are defined in the "Non-IFRS Measures" section of this news release. 
 

FY 2025 Highlights

 
 $ USD thousands, except as otherwise indicated     FY 2025    FY 2024  Change 
------------------------------------------------  ---------  ---------  ------ 
 Total Revenue                                      548,030                13% 
  (constant currency(2) )                           540,204    483,111     12% 
------------------------------------------------  ---------  ---------  ------ 
 SaaS                                               362,427                17% 
  (constant currency(2) )                           357,501    309,243     16% 
------------------------------------------------  ---------  ---------  ------ 
                                                    138,370   106,085 
 Adjusted EBITDA(2) Margin                              25%        22%     30% 
------------------------------------------------  ---------  ---------  ------ 
 

Key Performance Indicators

The company's Annual Recurring Revenue(3) $(ARR)$, which includes subscription amounts related to both SaaS and on-premise contracts, rose 20% to $433 million at the end of the quarter (18% growth in constant currency(2) .

 
 $USD millions                                Q4 2025      Q4 2024      Change 
---------------------------------------  ------------  -----------  ---------- 
 Annual recurring revenue(3)                      433          360        20 % 
---------------------------------------  ------------  -----------  ---------- 
 
(3) 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 December 31, 2025.

 
 $USD millions                 2026   2027  2028 and later  Total 
----------------------------  -----  -----  --------------  ----- 
 SaaS                         374.5  273.0           254.6  902.1 
----------------------------  -----  -----  --------------  ----- 
 Maintenance and support       20.3   16.4            10.6   47.3 
----------------------------  -----  -----  --------------  ----- 
 Subscription term licenses    18.1    3.4             0.3   21.8 
----------------------------  -----  -----  --------------  ----- 
                       Total  412.9  292.8           265.5  971.2 
----------------------------  -----  -----  --------------  ----- 
 

Financial Guidance

Kinaxis is initiating its fiscal 2026 financial guidance, as follows.

 
                             FY 2026 Guidance 
---------------------------  ---------------- 
 Total revenue               $620-635 million 
---------------------------  ---------------- 
 SaaS revenue growth            17-19% growth 
---------------------------  ---------------- 
 Adjusted EBITDA(2) margin             25-26% 
---------------------------  ---------------- 
 

"2025 was an outstanding year for Kinaxis, both from a growth and profitability perspective. We roughly doubled the number of wins with large enterprise customers and saw over 100 software deals above $1 million in total software contract value and more than 20 deals above $1 million in average annual software contract value. We exited the year with ARR growing 18% in constant currency versus 14% last year, which creates an opportunity for momentum in SaaS revenue and Adjusted EBITDA margin in 2026, even as we make important investments in AI and in our high-performing go-to-market organization," 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 December 31, 2025 are available on Kinaxis' website and on SEDAR+ at www.sedarplus.ca.

Conference Call

Kinaxis will host a conference call tomorrow, March 5, 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, March 5, 2026 
TIME:      8:30 a.m. Eastern Time 
WEBCAST    https://events.q4inc.com/attendee/567578009 (available for three 
           months) 
 

About Kinaxis Inc.

Kinaxis is a global leader in modern supply chain orchestration, powering complex global supply chains and supporting the people who manage them. Our powerful, AI-infused supply chain orchestration platform, Maestro$(TM)$, 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, special charges, and restructuring expenses. Adjusted EBITDA represents profit adjusted to exclude our equity compensation plans, special charges, restructuring expenses, 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 
                              December 31,          Year ended December 31, 
                        -------------------------  ------------------------- 
                            2025         2024          2025         2024 
                        ------------  -----------  ------------  ----------- 
                         (In thousands of USD)       (In thousands of USD) 
       Profit (loss)    19,501        (16,316)      70,699            56 
       Share-based 
        compensation     9,263         10,228       39,015        39,581 
       Special 
        charges(1)          --         18,191           --        21,365 
       Restructuring 
        expenses(2)         --            (71)          --         7,249 
                        ------  ----  -------      -------  ---  ------- 
       Adjusted profit  28,764         12,032      109,714        68,251 
                        ======  ====  =======      =======  ===  ======= 
       Income tax 
        expense          7,329         17,068       22,187        25,096 
       Depreciation 
        and 
        amortization     4,586          6,046       19,847        24,928 
       Foreign 
        exchange gain     (356)          (927)      (2,561)         (682) 
       Net finance 
        income          (2,748)        (2,757)     (10,817)      (11,508) 
                        ------   ---  -------      -------       ------- 
                         8,811         19,430       28,656        37,834 
                        ------  ----  -------      -------  ---  ------- 
       Adjusted EBITDA  37,575         31,462      138,370       106,085 
                        ======  ====  =======      =======  ===  ======= 
       Adjusted EBITDA 
        as a 
        percentage of 
        revenue             26%            25%          25%           22% 
 
Note: 
(1) Costs associated with business transformation activities. 
(2) Costs associated with the restructuring initiative 
 

We also present certain IFRS measures, SaaS revenue and total revenue, and non-IFRS supplementary measures, ARR, under constant currency. We believe that presenting these measures under constant currency provides a useful framework for assessing estimates of how our business would have performed excluding the effect of foreign currency rate fluctuations. The presentation of financial results under constant currency is considered to be a non-IFRS measure and does not have any standardized meaning under IFRS. As a result, the information presented may not be comparable to similar measures presented by other companies (including our peers). For SaaS revenue and total revenue under constant currency, results for entities reporting in currencies other than U.S. Dollars ("USD") are converted into USD at the average exchange rates in effect during the comparison period, rather than the actual average exchange rates in effect during the current period. For constant currency ARR, we convert all non-USD-denominated recurring subscription amounts at the exchange rates in effect at the end of the comparison period, rather than the exchange rates in effect at the end of the current period. The outlook for constant currency SaaS revenue growth rate is derived by applying the average exchange rates in effect during the comparison period rather than the exchange rates expected during the guidance period. We believe the presentation of the above results and metrics, and applicable related growth rates, adjusted for constant currency facilitates the corresponding year--over--year comparisons.

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.

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.

 
Kinaxis Inc. 
 Condensed Consolidated Interim Statements of Financial Position 
 (Expressed in thousands of USD) 
 
                                              December 31,      December 31, 
                                                      2025              2024 
------------------------------------------  --------------  ---------------- 
 
Assets 
Current assets: 
      Cash and cash equivalents              $    149,614    $    172,192 
      Short-term investments                      175,095         126,307 
      Trade and other receivables                 165,781         156,394 
      Prepaid expenses                             15,743          18,244 
------------------------------------------      ---------       --------- 
                                                  506,233         473,137 
Non-current assets: 
      Unbilled receivables                          1,596           1,448 
      Other receivables                             1,047             867 
      Prepaid expenses                              1,558           2,072 
      Deferred tax assets                          18,225          11,016 
      Contract acquisition costs                   37,038          32,005 
      Property and equipment                       28,526          32,486 
      Right-of-use assets                          43,090          46,705 
      Intangible assets                            10,804          12,865 
      Goodwill                                     76,597          72,735 
------------------------------------------      ---------       --------- 
                                                  218,481         212,199 
 
                                             $    724,714    $    685,336 
------------------------------------------      ---------       --------- 
 
Liabilities and Shareholders' Equity 
Current liabilities: 
      Trade payables and accrued 
       liabilities                           $     90,040    $     94,913 
      Deferred revenue                            161,060         140,008 
      Lease obligations                             5,938           5,587 
------------------------------------------      ---------       --------- 
                                                  257,038         240,508 
Non-current liabilities: 
      Lease obligations                            42,065          43,348 
      Deferred tax liabilities                      4,042           5,969 
------------------------------------------      ---------       --------- 
                                                   46,107          49,317 
Shareholders' equity: 
      Share capital                               363,246         329,312 
      Contributed surplus                              --          12,078 
      Accumulated other comprehensive loss           (223)         (3,847) 
      Retained earnings                            58,546          57,968 
------------------------------------------      ---------       --------- 
                                                  421,569         395,511 
 
                                             $    724,714    $    685,336 
------------------------------------------      ---------       --------- 
 
 
Kinaxis Inc. 
 Condensed Consolidated Interim Statements of Comprehensive Income 
 (Expressed in thousands of USD, except share and per share data) 
 
                        Three months ended December 
                                    31,                 Year ended December 31, 
                            2025            2024         2025           2024 
---------------------  ---------------  ------------  -----------  -------------- 
Revenue                $   144,235      $   123,935   $   548,030  $   483,111 
 
Cost of revenue             49,976           48,833       193,752      188,528 
 
Gross profit                94,259           75,102       354,278      294,583 
 
Operating expenses: 
      Selling and 
       marketing            28,216           25,624       115,083      100,531 
      Research and 
       development          25,648           21,310        94,041       87,653 
      General and 
       administrative       16,607           31,172        65,672       93,661 
---------------------   ----------       ----------    ----------   ---------- 
                            70,471           78,106       274,796      281,845 
 
                            23,788           (3,004)       79,482       12,738 
 
Other income: 
      Foreign 
       exchange gain           356              927         2,561          682 
      Net finance and 
       other income          2,686            2,829        10,843       11,732 
---------------------   ----------       ----------    ----------   ---------- 
                             3,042            3,756        13,404       12,414 
 
Profit before income 
 taxes                      26,830              752        92,886       25,152 
 
Income tax expense           7,329           17,068        22,187       25,096 
 
Profit (loss)               19,501          (16,316)       70,699           56 
 
Other comprehensive 
income (loss): 
Items that are or may 
be reclassified 
subsequently to 
profit 
      Foreign 
       currency 
       translation 
       differences - 
       foreign 
       operations           (1,226)          (4,660)        2,285       (3,563) 
      Change in 
       valuation of 
       cash flow 
       hedges                  479           (1,389)        1,339       (1,644) 
---------------------   ----------       ----------    ----------   ---------- 
                              (747)          (6,049)        3,624       (5,207) 
 
Total comprehensive 
 income (loss)         $    18,754      $   (22,365)  $    74,323  $    (5,151) 
---------------------   ----------       ----------    ----------   ---------- 
 
Basic earnings (loss) 
 per share             $      0.70      $     (0.58)  $      2.51  $        -- 
Weighted average 
 number of basic 
 Common Shares          28,019,320       28,132,782    28,153,453   28,243,305 
Diluted earnings 
 (loss) per share      $      0.68      $     (0.58)  $      2.45  $        -- 
Weighted average 
 number of diluted 
 Common Shares          28,586,942       28,132,782    28,845,750   28,939,759 
---------------------   ----------       ----------    ----------   ---------- 
 
 
Kinaxis Inc. 
 Condensed Consolidated Interim Statements of Changes in Shareholders' Equity 
 (Expressed in thousands of USD) 
 
                                          Accumulated other comprehensive income 
                                                          (loss) 
                                          --------------------------------------- 
                                                               Currency 
                    Share    Contributed     Cash flow      translation             Retained        Total 
                  capital        surplus        hedges      adjustments     Total   earnings       equity 
--------------  ---------  -------------  ------------  ---------------  --------  ---------  ----------- 
 
Balance, 
 December 31, 
 2023           $307,327    $    44,339   $   441        $      919      $ 1,360   $101,802   $454,828 
 
Profit                --             --        --                --           --         56         56 
Other 
 comprehensive 
 loss                 --             --    (1,644)           (3,563)      (5,207)        --     (5,207) 
--------------   -------       --------    ------           -------       ------    -------    ------- 
Total 
 comprehensive 
 income 
 (loss)               --             --    (1,644)           (3,563)      (5,207)        56     (5,151) 
 
Share options 
 exercised        28,065         (6,512)       --                --           --         --     21,553 
Restricted 
 share units 
 vested           14,992        (14,992)       --                --           --         --         -- 
Deferred share 
 units vested      1,396         (1,396)       --                --           --         --         -- 
Performance 
 share units 
 vested            5,533         (5,533)       --                --           --         --         -- 
Share-based 
 payments             --         40,723        --                --           --         --     40,723 
Shares 
 repurchased      (9,837)       (44,551)       --                --           --    (43,890)   (98,278) 
Obligations 
 related to 
 share 
 repurchases     (18,164)            --        --                --           --         --    (18,164) 
--------------   -------       --------    ------  ---      -------       ------    -------    ------- 
Total 
 shareholder 
 transactions     21,985        (32,261)       --                --           --    (43,890)   (54,166) 
 
Balance, 
 December 31, 
 2024           $329,312    $    12,078   $(1,203)       $   (2,644)     $(3,847)  $ 57,968   $395,511 
 
Profit                --             --        --                --           --     70,699     70,699 
Other 
 comprehensive 
 income               --             --     1,339             2,285        3,624         --      3,624 
--------------   -------       --------    ------  ---      -------       ------    -------    ------- 
Total 
 comprehensive 
 income               --             --     1,339             2,285        3,624     70,699     74,323 
 
Share options 
 exercised        26,742         (6,390)       --                --           --         --     20,352 
Restricted 
 share units 
 vested           24,937        (24,937)       --                --           --         --         -- 
Deferred share 
 units vested        810           (810)       --                --           --         --         -- 
Performance 
 share units 
 vested            3,553         (3,553)       --                --           --         --         -- 
Share-based 
 payments             --         40,380        --                --           --         --     40,380 
Shares 
 repurchased     (10,141)       (16,768)       --                --           --    (70,121)   (97,030) 
Change in 
 obligation 
 for share 
 repurchases     (11,967)            --        --                --           --         --    (11,967) 
--------------   -------       --------    ------  ---      -------       ------    -------    ------- 
Total 
 shareholder 
 transactions     33,934        (12,078)       --                --           --    (70,121)   (48,265) 
 
Balance, 
 December 31, 
 2025           $363,246    $        --   $   136        $     (359)     $  (223)  $ 58,546   $421,569 
--------------   -------       --------    ------  ---      -------       ------    -------    ------- 
 
 
Kinaxis Inc. 
 Condensed Consolidated Interim Statements of Cash Flows 
 (Expressed in thousands of USD) 
 
                           Three months ended 
                              December 31,         Year ended December 31, 
                                 2025        2024        2025          2024 
----------------------  -------------  ----------  ----------  ------------ 
 
Cash flows from 
operating activities 
 
     Profit (loss)      $  19,501      $ (16,316)  $  70,699   $      56 
     Items not 
     affecting cash: 
         Depreciation 
          of property 
          and 
          equipment 
          and 
          right-of-use 
          assets            3,732          4,726      16,502      19,614 
         Amortization 
          of 
          intangible 
          assets              854          1,320       3,345       5,314 
         Impairment 
          loss on 
          intangible 
          assets               --          4,521          --       4,521 
         Share-based 
          payments          9,263         10,228      39,015      39,581 
         Net finance 
          income           (2,748)        (2,757)    (10,817)    (11,508) 
         Income tax 
          expense           7,329         17,068      22,187      25,096 
         Investment 
          tax credits 
          recoverable          --         11,271          --       8,362 
     Change in 
      operating assets 
      and liabilities      (5,922)        (8,814)      3,478         900 
     Interest received      3,651          3,750      13,257      14,137 
     Interest paid           (554)          (437)     (2,004)     (1,714) 
     Income taxes paid     (5,164)          (443)    (37,862)     (5,146) 
----------------------   --------       --------    --------    -------- 
                           29,942         24,117     117,800      99,213 
Cash flows from (used 
in) investing 
activities 
 
     Purchase of 
      property and 
      equipment              (674)        (2,268)     (5,689)     (4,515) 
     Purchase of 
      short-term 
      investments        (164,608)      (103,316)   (619,089)   (342,076) 
     Redemption of 
      short-term 
      investments         196,936         87,855     569,684     332,972 
----------------------   --------       --------    --------    -------- 
                           31,654        (17,729)    (55,094)    (13,619) 
Cash flows used in 
financing activities 
 
     Payment of lease 
      obligations          (1,471)        (1,603)     (5,838)     (6,963) 
     Repurchase of 
      shares              (36,008)       (19,996)    (97,030)    (98,278) 
     Proceeds from 
      exercise of 
      stock options           742          7,969      20,352      21,553 
----------------------   --------       --------    --------    -------- 
                          (36,737)       (13,630)    (82,516)    (83,688) 
 
Increase (decrease) in 
 cash and cash 
 equivalents               24,859         (7,242)    (19,810)      1,906 
 
Cash and cash 
 equivalents, 
 beginning of year        126,476        183,228     172,192     174,844 
 
Effects of exchange 
 rates on cash and 
 cash equivalents          (1,721)        (3,794)     (2,768)     (4,558) 
----------------------   --------       --------    --------    -------- 
Cash and cash 
 equivalents, end of 
 year                   $ 149,614      $ 172,192   $ 149,614   $ 172,192 
----------------------   --------       --------    --------    -------- 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260304540878/en/

 
    CONTACT:    Investor Relations 

Rick Wadsworth | Kinaxis

rwadsworth@kinaxis.com

613-907-7613

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Vanessa Cohen | Kinaxis

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(END) Dow Jones Newswires

March 04, 2026 17:01 ET (22:01 GMT)

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