Kinaxis Inc. Reports Third Quarter 2026 Financial Results

• SaaS revenue increased 22% year-over-year to $112.3 million
• Remaining Performance Obligations increased 21% year-over-year, surpassing $1 billion
• Annual Recurring Revenue² (ARR) increased 19% year-over-year to $483.9 million, 20% year-over-year in constant currency
• Unveiled new Agentic AI and Advanced Optimization Capabilities at Kinexions EMEA 2026
• Raises fiscal 2026 financial outlook

OTTAWA, Ontario--(BUSINESS WIRE)--Kinaxis® Inc. (TSX:KXS), a global leader in end-to-end supply chain planning and orchestration, today announced financial results for its third quarter 2026, ended September 30, 2026. All amounts are in U.S. dollars. All figures are prepared in accordance with IFRS Accounting Standards (IFRS) unless otherwise indicated.

"Leading organizations with the most complex supply chains are partnering with Kinaxis to shorten the latency between accelerating change signals, decisions, actions, and learning cycles to achieve the best business outcomes. Our team delivered a strong third quarter, with 22% SaaS revenue growth and record remaining performance obligations exceeding $1 billion, driven by momentum among new and existing customers. Three consecutive quarters of outperformance underpin our confidence in raising full-year guidance for total revenue, SaaS revenue growth, and adjusted EBITDA margin,” said Razat Gaurav, Chief Executive Officer of Kinaxis. "We are executing on our vision to reimagine the future of supply chains by strengthening Maestro, all-in on AI, and broadening our offering with composable operational orchestration, while maintaining a clear focus on profitable growth and long-term value for customers and shareholders.”

Third Quarter 2026 Financial Highlights:

• Total revenue increased 19% year-over-year to $160.3 million. Total revenue included a negative impact of approximately $1.1 million from foreign currency exchange rates (FX).
• SaaS revenue increased 22% year-over-year to $112.3 million. SaaS revenue included a negative impact of approximately $0.8 million from FX.
• ARR² increased 19% year-over-year to $483.9 million. On a constant currency basis, ARR² increased 20% year-over-year to $486.8 million.
• Remaining performance obligations increased 21% year-over-year to $1,026.9 million.
• Profit of $20.1 million.
• Adjusted EBITDA¹ of $42.0 million, an increase of 24% year-over-year. Adjusted EBITDA margin¹ of 26%, a 102 basis points improvement year-over-year.
• Operating cash flow of $34.4 million.

Financial Highlights

$ USD thousands, except as otherwise indicated	Q3 2026	Q3 2025	Change
Total Revenue	160,264	134,592	19%
SaaS	112,301	91,955	22%
Subscription term licenses	1,169	79	1380%
Professional services	42,164	37,022	14%
Maintenance and support	4,630	5,536	(16)%
Gross profit Margin	104,491 65%	85,949 64%	22%
Profit Per diluted share	20,097 $0.72	16,846 $0.58	19%
Adjusted EBITDA^1Margin	42,024 26%	33,922 25%	24%
Cash flows from operating activities	34,383	33,645	2%
(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.

Annual Recurring Revenue

Annual Recurring Revenue² (ARR), which includes subscription amounts related to both SaaS and on-premise contracts, increased 19% year-over-year to $483.9 million at the end of the quarter. On a constant currency basis, ARR² increased 20% year-over-year to $486.8 million at the end of the quarter.

$USD millions	Q3 2026	Q3 2025	Change
Annual recurring revenue^2	483.9	406.7	19%
(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.

Remaining Performance Obligations

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 September 30, 2026. Remaining performance obligations increased 21% year-over-year to $1,026.9 million.

$USD millions	Remainder of 2026	2027	2028 and later	Total
SaaS	114.2	393.6	471.2	979.1
Maintenance and support	4.5	16.7	15.7	36.9
Subscription term licenses	7.2	3.4	0.3	10.9
Total	125.9	413.7	487.2	1,026.9

Share Repurchases:

• During the third quarter 2026, the Company spent $29.5 million to repurchase 244,067 shares of its common stock at an average price of $120.79. Since the start of the current share repurchase program, the Company has reduced its total outstanding share count by 3.5% as of September 30, 2026, on a net basis.

Customer Momentum: The Company continued to see strong adoption of Maestro and other solutions across a wide range of industries and geographies. Notable customer updates include:

• New customers include Dr. Squatch, an American personal care and grooming company; Sterlite Technologies Limited (STL), a leading optical and digital solutions company; WAI Global (Wetherill Associates, Inc.), a global manufacturer and distributor of automotive aftermarket components; a European luxury goods company; a leading biotechnology company; and a global consumer health company transitioned away from a competitor.
• Customer renewals or expansions include Clariant, one of the world's leading specialty chemicals companies; Sanofi, an R&D driven, AI-powered biopharma company; an American multinational automotive manufacturer; a leading consumer healthcare platform in Europe; and a leading European pet food company.
• In the third quarter 2026, the Company completed more than 40 customer go-lives, including Asahi Beverages, the leading beverage company in Oceania; a leading business aviation engine supplier; a leading U.S. energy company; a global healthcare and medical technology company; and a manufacturer of software-enabled hardware solutions.

Innovation:

• At Kinexions EMEA 2026 in October, the Company announced several new AI and optimization capabilities in Maestro that reduce friction between sophisticated technology and practical adoption, making advanced AI, optimization, and data capabilities easier for customers to use in everyday operations. These included:
  • Maestro Conversational and Agentic AI: Moves beyond answering questions to understanding your business and taking intelligent action, powered by rich business knowledge and semantic intelligence;
  • AI-enabled workflows: Integrates LLMs and agents directly into automated processes in Maestro, reducing the need for human intervention by enabling AI to interpret context, evaluate information, and make recommendations;
  • Agent evaluation and reasoning visibility: New capabilities that help users assess, understand, and improve Maestro Agents’ behavior; and
  • Advanced Inventory Optimization solution: New explainability capabilities that give planners greater visibility into the factors driving inventory calculations and recommendations, helping build trust in optimization outputs.
• Announced the availability of the Kinaxis Data Fabric, providing governed supply chain data and business context for AI and analytics. Data Publish, a new Data Fabric capability, simplifies the process of making Kinaxis data available for downstream analytics.
• Launched Model Context Protocol (MCP) connectivity capabilities for Microsoft 365, enabling Maestro Agents to connect to other enterprise applications and extend the information and tools available to agents within their workflows. Capabilities include Microsoft Copilot and Microsoft Teams interactions with agents built and operating in Maestro, the ability to poll and receive relevant notifications from Microsoft WorkIQ and WebIQ directly in Maestro, and the ability to trigger intelligent automations and agentic workflows.

Recognition:

• Recognized as a Leader by Nucleus Research Enterprise Supply Chain Planning Value Matrix 2026.
• Recognized as a Leader by ARC MarketMap Supply Chain Decision Intelligence 2026.

Upcoming Investor Conferences:

• On Tuesday, November 17, 2026, the Company is scheduled to host investor meetings at the RBC Global Technology, Internet, Media and Telecommunications Conference in New York, NY.
• On Monday, November 23, 2026, the Company is scheduled to participate in a fireside chat discussion at the TD Cowen 18th Annual Technology Conference in Toronto, Canada, at 2:00 p.m. Eastern Time. A live webcast and replay will be available on the Company's Investor Relations website.
• On Wednesday, December 2, 2026, the Company is scheduled to host investor meetings at the UBS Global Technology and AI Conference in Scottsdale, AZ.
• On Tuesday, December 8, 2026, the Company is scheduled to participate in a fireside chat discussion at the Raymond James TMT and Consumer Conference in New York, NY, at 8:40 a.m. Eastern Time. A live webcast and replay will be available on the Company's Investor Relations website.
• On Wednesday, December 9, 2026, the Company is scheduled to host investor meetings at the Barclays 24th Annual Global Technology Conference in San Francisco, CA.

Fiscal 2026 Financial Outlook:

Based on information available as of November 4, 2026, financial guidance for fiscal 2026 is as follows:

• Raising total revenue from $625.0 million to $640.0 million to a range of $640.0 million to $650.0 million.
• Raising SaaS revenue growth from 18% to 20% year-over-year to a range of 20% to 21% year-over-year.
• Raising Adjusted EBITDA¹ margin from 25% to 26% range to 26.5% to 27.5% range.

In addition to the above guidance, the Company is also providing fiscal 2026 FX estimates for modeling purposes. We expect FX to have a negative impact on total revenue by approximately $3.5 million to $4.0 million. We expect FX to have a negative impact on SaaS revenue by approximately $2.0 million to $2.5 million.

In addition to the above guidance, the Company is also providing fiscal 2026 weighted-average number of basic and diluted share estimates for modeling purposes. We expect basic weighted-average shares outstanding to be approximately 27.3 million shares and diluted weighted-average shares outstanding to be approximately 27.9 million shares. These share count forecasts do not include the impact of any share repurchases the Company may pursue in the future.

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 September 30, 2026, are available on Kinaxis’ website and on SEDAR+ at www.sedarplus.ca.

Conference Call Details:

Kinaxis will host a conference call tomorrow, November 5, 2026, to discuss third quarter 2026 financial results and financial outlook for fiscal 2026 at 8:30 a.m. Eastern Time. A live webcast of the conference call will be available on the Investor Relations section of Kinaxis’s website at investors.kinaxis.com where presentation materials will also be posted prior to the conference call. A replay will be available online approximately two hours following the live call for a period of 30 days.

DATE:	Thursday, November 5, 2026
TIME:	8:30 a.m. Eastern Time
WEBCAST	https://events.q4inc.com/attendee/703967106

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, Kinaxis 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 September 30,				Nine months ended September 30,
		2026		2025		2026		2025
	(In thousands of USD)					(In thousands of USD)
Profit		20,097		16,846		70,715		51,198
Share-based compensation		13,544		10,031		34,264		29,752
Adjusted profit		33,641		26,877		104,979		80,950
Income tax expense		5,589		5,361		26,634		14,858
Depreciation and amortization		4,471		4,856		13,715		15,261
Foreign exchange loss (gain)		962		(192	)	(843	)	(2,205	)
Net finance income		(2,639	)	(2,980	)	(7,505	)	(8,069	)
		8,383		7,045		32,001		19,845
Adjusted EBITDA		42,024		33,922		136,980		100,795
Adjusted EBITDA as a percentage of revenue		26	%	25	%	28	%	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, Adjusted EBITDA margin achievement, foreign exchange impacts on total revenue and SaaS revenue, and basic and diluted weighted-average shares outstanding, 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’ strategies, plans and objectives, growth opportunities and the anticipated functionality, capabilities, performance and benefits of, and markets and demand for, Kinaxis’ products, services and technologies, including its AI-related offerings and capabilities. 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, the development, release and customer adoption of new and enhanced products and capabilities, and the pace of change in AI technologies.

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, including as they affect our estimates of foreign exchange impacts on total revenue and SaaS revenue; 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.

Kinaxis Inc.
Condensed Consolidated Interim Statements of Financial Position
(Expressed in thousands of USD)
	September 30, 2026			December 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	159,127		$	149,614
Short-term investments		158,727			175,095
Trade and other receivables		180,370			165,781
Prepaid expenses		19,433			15,743
		517,657			506,233
Non-current assets:
Unbilled receivables		1,622			1,596
Other receivables		1,015			1,047
Prepaid expenses		2,332			1,558
Deferred tax assets		17,297			18,225
Contract acquisition costs		40,931			37,038
Property and equipment		24,789			28,526
Right-of-use assets		41,638			43,090
Intangible assets		8,085			10,804
Goodwill		75,487			76,597
		213,196			218,481
	$	730,853		$	724,714
Liabilities and Shareholders’ Equity
Current liabilities:
Trade payables and accrued liabilities	$	91,012		$	90,040
Deferred revenue		189,313			161,060
Lease obligations		5,481			5,938
		285,806			257,038
Non-current liabilities:
Lease obligations		39,763			42,065
Deferred tax liabilities		565			4,042
		40,328			46,107
Shareholders’ equity:
Share capital		403,378			363,246
Accumulated other comprehensive loss		(3,663	)		(223	)
Retained earnings		5,004			58,546
		404,719			421,569
	$	730,853		$	724,714

Kinaxis Inc.
Condensed Consolidated Interim Statements of Comprehensive Income
(Expressed in thousands of USD, except share and per share data)
	Three months ended September 30,						Nine months ended September 30,
		2026			2025			2026			2025
Revenue	$	160,264		$	134,592		$	484,615		$	403,795
Cost of revenue		55,773			48,643			161,672			143,776
Gross profit		104,491			85,949			322,943			260,019
Operating expenses:
Selling and marketing		30,264			26,440			92,487			86,867
Research and development		29,666			23,829			85,607			68,393
General and administrative		20,547			16,658			56,050			49,065
		80,477			66,927			234,144			204,325
		24,014			19,022			88,799			55,694
Other income:
Foreign exchange gain (loss)		(962	)		192			843			2,205
Net finance and other income		2,634			2,993			7,707			8,157
		1,672			3,185			8,550			10,362
Profit before income taxes		25,686			22,207			97,349			66,056
Income tax expense		5,589			5,361			26,634			14,858
Profit		20,097			16,846			70,715			51,198
Other comprehensive income (loss):
Items that are or may be reclassified subsequently to profit
Foreign currency translation differences - foreign operations		677			(499	)		(2,489	)		3,511
Change in valuation of cash flow hedges		235			(1,314	)		(951	)		860
		912			(1,813	)		(3,440	)		4,371
Total comprehensive income	$	21,009		$	15,033		$	67,275		$	55,569
Basic earnings per share	$	0.74		$	0.60		$	2.58		$	1.82
Weighted average number of basic Common Shares		27,187,538			28,229,298			27,413,939			28,198,655
Diluted earnings per share	$	0.72		$	0.58		$	2.52		$	1.77
Weighted average number of diluted Common Shares		27,752,681			28,842,164			28,049,514			28,909,065

Kinaxis Inc.
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		—			—			—			—			—			51,198			51,198
Other comprehensive income		—			—			860			3,511			4,371			—			4,371
Total comprehensive income		—			—			860			3,511			4,371			51,198			55,569
Share options exercised		25,766			(6,156	)		—			—			—			—			19,610
Restricted share units vested		21,547			(21,547	)		—			—			—			—			—
Deferred share units vested		810			(810	)		—			—			—			—			—
Performance share units vested		3,553			(3,553	)		—			—			—			—			—
Share-based payments		—			30,700			—			—			—			—			30,700
Shares repurchased		(5,455	)		(10,712	)		—			—			—			(44,855	)		(61,022	)
Change in obligation for share repurchases		6,668			—			—			—			—			—			6,668
Total shareholder transactions		52,889			(12,078	)		—			—			—			(44,855	)		(4,044	)
Balance, September 30, 2025	$	382,201		$	—		$	(343	)	$	867		$	524		$	64,311		$	447,036
Balance, December 31, 2025		363,246			—			136			(359	)		(223	)		58,546			421,569
Profit		—			—			—			—			—			70,715			70,715
Other comprehensive loss		—			—			(951	)		(2,489	)		(3,440	)		—			(3,440	)
Total comprehensive income (loss)		—			—			(951	)		(2,489	)		(3,440	)		70,715			67,275
Share options exercised		21,723			(5,472	)		—			—			—			—			16,251
Restricted share units vested		25,672			(25,672	)		—			—			—			—			—
Performance share units vested		8,042			(3,564	)		—			—			—			(4,478	)		—
Share-based payments		—			34,708			—			—			—			—			34,708
Shares repurchased		(19,762	)		—			—			—			—			(119,779	)		(139,541	)
Change in obligation for share repurchases		4,457			—			—			—			—			—			4,457
Total shareholder transactions		40,132			—			—			—			—			(124,257	)		(84,125	)
Balance, September 30, 2026	$	403,378		$	—		$	(815	)	$	(2,848	)	$	(3,663	)	$	5,004		$	404,719

Kinaxis Inc.
Condensed Consolidated Interim Statements of Cash Flows
(Expressed in thousands of USD)
	Three months ended September 30,						Nine months ended September 30,
	2026			2025			2026			2025
Cash flows from operating activities
Profit	$	20,097		$	16,846		$	70,715		$	51,198
Items not affecting cash:
Depreciation of property and equipment and right-of-use assets		3,668			4,002			11,266			12,770
Amortization of intangible assets		803			854			2,449			2,491
Share-based payments		13,544			10,031			34,264			29,752
Net finance income		(2,639	)		(2,980	)		(7,505	)		(8,069	)
Income tax expense		5,589			5,361			26,634			14,858
Change in operating assets and liabilities		2,036			1,822			12,255			8,999
Interest received		2,671			3,635			8,558			9,606
Interest paid		(367	)		(520	)		(1,174	)		(1,450	)
Income taxes paid		(11,019	)		(5,406	)		(33,286	)		(32,297	)
		34,383			33,645			124,176			87,858
Cash flows from (used in) investing activities
Purchase of property and equipment		(648	)		(747	)		(3,147	)		(5,015	)
Purchase of short-term investments		(137,028	)		(164,592	)		(297,520	)		(454,481	)
Redemption of short-term investments		114,683			162,139			313,863			372,748
		(22,993	)		(3,200	)		13,196			(86,748	)
Cash flows used in financing activities
Payment of lease obligations		(1,649	)		(1,424	)		(4,652	)		(4,367	)
Repurchase of shares		(29,479	)		(25,368	)		(137,800	)		(61,022	)
Proceeds from exercise of stock options		2,694			794			16,251			19,610
		(28,434	)		(25,998	)		(126,201	)		(45,779	)
Increase (decrease) in cash and cash equivalents		(17,044	)		4,447			11,171			(44,669	)
Cash and cash equivalents, beginning of period		174,607			123,754			149,614			172,192
Effects of exchange rates on cash and cash equivalents		1,564			(1,725	)		(1,658	)		(1,047	)
Cash and cash equivalents, end of period	$	159,127		$	126,476		$	159,127		$	126,476