Flick through two Canadian tech stocks in Q2 2023

March 17, 2023 07:00 PM AEDT | By Raza Naqvi

Flick through two Canadian tech stocks in Q2 2023 — Image source: © Rimidolove | Megapixl.com

Descartes Systems Group Inc. (TSX:DSG)

For companies that rely heavily on logistics, Descartes offers on-demand Software-as-a-Service (SaaS) solutions to help them increase efficiency, performance, and security.

In fiscal 2023, Descartes' revenues jumped to US$ 486 million from US$ 424.7 million in the fiscal year 2022. This represented a surge of 14 per cent year-over-year (YoY).

The cash from operating activities increased by nine per cent YoY to US$ 192.4 million. Meanwhile, the income from operations amounted to US$ 130.4 million, reflecting a growth of 26 per cent YoY.

The company's net income was US$ 102.2 million in FY 2023 compared to US$ 86.3 million in FY 2022.

Kinaxis Inc. (TSX:KXS)

Cloud-based subscription software firm Kinaxis Inc. enables its users to enhance their supply chain operations. The company's market capitalization was US$ 4.74 billion at the time of writing, and its price-to-book (P/B) ratio is 8.36.

In Q4 2022, the total revenue was US$ 98.48 million, up by 44 per cent YoY. Meanwhile, on a constant currency basis, it surged by 51 per cent YoY to US$ 103.52 million.

The gross profit amounted to US$ 61.26 million in Q4 2022 compared to US$ 43.88 million in Q4 2021.

Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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