Kinaxis Achieves Record Growth and Profitability

Kinaxis (TSE:KXS) has released an update.

Kinaxis Inc., a leading supply chain management software provider, capped off 2023 with substantial growth, reporting a 24% increase in SaaS revenue, an 18% rise in adjusted EBITDA margin, and a significant 18% growth in annual recurring revenue. The company also celebrated a record number of customer wins and a backlog that promises strong visibility into the future, alongside a record-setting free cash flow. Despite a competitive market, Kinaxis attributes its success to strategic investments and an emphasis on integrated supply chain solutions, which has positioned it well for capturing more market share while advancing towards its mid-term profitability objectives.

For further insights into TSE:KXS stock, check out TipRanks’ Stock Analysis page.