Descartes Systems Group Inc (NASDAQ:DSGX) topline grew 25% yoy in Q2 2022

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Descartes Systems Group Inc (NASDAQ:DSGX) stock rose 2.03% (As on Sep 9, 1:22:07 AM UTC-4, Source: Google Finance) after the company in the second quarter of FY 22 has reported the revenues of $104.6 million, which is up 25% from $84.0 million in the second quarter of fiscal 2021  and up 6% from $98.8 million in the previous quarter Q1FY22. The revenues were comprised of services revenues of $93.5 million (89% of total revenues), professional services and other revenues of $9.9 million (10% of total revenues) and license revenues of $1.2 million (1% of total revenues). Services revenues were up 24% from $75.3 million in Q2FY21 and up 6% from $88.3 million in Q1FY22. The company has delivered Adjusted EBITDA of $45.9 million, up 35% from $34.0 million in Q2FY21 and up 11% from $41.5 million in Q1FY22. Adjusted EBITDA as a percentage of revenues was 44%, compared to 40% in Q2FY21 and 42% in Q1FY22. The company has reported net income of $23.2 million, up 121% from $10.5 million in Q2FY21 and up 26% from $18.4 million in Q1FY22. The Cash provided by operating activities of $46.4 million, up 36% from $34.1 million in Q2FY21 and up 13% from $40.9 million in Q1FY22. Income from operations of $26.1 million, up 74% from $15.0 million in Q2FY21 and up 12% from $23.4 million in Q1FY22. At July 31, 2021, Descartes had $128.4 million in cash. Cash decreased by $9.7 million in Q2FY22 and decreased $5.3 million in 1HFY22.

On the other hand, the company on May 7, 2021, had acquired all of the shares of Portrix Logistics Software GmbH, a provider of multimodal rate management solutions for logistics services providers. The purchase price for the acquisition was approximately $25.2 million (EUR 20.7 million), net of cash acquired, which was funded from cash on hand. In addition, the company on July 8, 2021, had acquired all of the shares of GreenMile, LLC, a provider of cloud-based mobile route execution solutions for food, beverage, and broader distribution verticals. The purchase price for the acquisition was approximately $29.2 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $10.0 million, based on GreenMile achieving revenue-based targets over the first two years post-acquisition.

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