Kinaxis Inc. J (TSE:KXS)
TSX:KXS
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Kinaxis Inc
(TSX:KXS)
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Rating:79Outperform
Price Target:
C$161.00
▲(9.51% Upside)
Action:Reiterated
Date:05/09/26
Overall score is driven primarily by strong financial performance (profitability inflection, robust free cash flow, and low leverage). Earnings call signals solid operating momentum and visibility, though guidance conservatism and a few execution/margin risks limit upside. Technicals are constructive but somewhat stretched, while valuation is moderate with no dividend data to provide additional support.
Positive Factors
Recurring revenue / ARR visibility
A large and growing ARR base with nearly $0.95B RPO gives durable revenue visibility and predictable cash flows. This recurring SaaS backbone supports long-term investment in product, steadier margin conversion, and resilience through economic cycles.
Negative Factors
Recent revenue growth deceleration
A visible slowdown in top-line growth versus prior years can persistently limit upside in SaaS models that rely on scale to leverage high gross margins into stronger operating leverage and FCF expansion; sustained deceleration would pressure long-term returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue / ARR visibility
A large and growing ARR base with nearly $0.95B RPO gives durable revenue visibility and predictable cash flows. This recurring SaaS backbone supports long-term investment in product, steadier margin conversion, and resilience through economic cycles.
Read all positive factors
Kinaxis Inc (KXS) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$4.05B
Dividend YieldN/A
Average Volume (3M)58.54K
Price to Earnings (P/E)24.2
Beta (1Y)0.57
Revenue Growth16.06%
EPS Growth744.14%
CountryCA
Employees1,674
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)3.00
Shares Outstanding27,651,203
10 Day Avg. Volume51,659
30 Day Avg. Volume58,539
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)8.43
Price to Sales (P/S)6.36
P/FCF Ratio31.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$202.57Price Target Upside37.78% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)4.38
Revenue Forecast (FY)C$634.72M
Kinaxis Inc Business Overview & Revenue Model
Company Description
Kinaxis Inc. provides cloud-based subscription software for supply chain operations in the United States, Japan, Hong Kong, The Netherlands, South Korea, the United Kingdom, Singapore, France, Ireland, Germany, India, and Canada. It offers Kinaxis...
How the Company Makes Money
Kinaxis primarily makes money by selling subscriptions to its cloud-based supply chain planning software. The company’s main revenue stream is software-as-a-service (SaaS) subscription revenue, typically earned under contractual arrangements where...
Kinaxis Inc Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call presented strong, broad-based operating and financial outperformance: double-digit revenue growth, record quarterly profit and adjusted EBITDA, accelerating ARR and RPO, large enterprise wins and meaningful traction for AI-driven products (Maestro Agents, ADF). Management reinforced commercial momentum while prudently maintaining full-year guidance because of macro/FX uncertainty and called out several operational items to manage (maintenance decline, future decline of term license tailwinds, partner enablement, token cost uncertainty and a CFO transition). On balance the positives (revenue/ARR acceleration, profitability, cash generation, large deals and product/AI momentum) materially outweigh the challenges and risks discussed.Positive Updates
Revenue Growth and Scale
Total revenue $165.6M, up 25% year-over-year. SaaS revenue $102.9M, up 21% YoY. Subscription term license revenue $19.1M, up 111% YoY. Professional services revenue $38.7M, up 16% YoY.
Negative Updates
Maintenance & Support Decline
Maintenance and support revenue $4.9M, down 11% YoY due to customers moving from hybrid/term-license models to SaaS, and the company expects maintenance to decrease slightly in remaining quarters.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth and Scale
Total revenue $165.6M, up 25% year-over-year. SaaS revenue $102.9M, up 21% YoY. Subscription term license revenue $19.1M, up 111% YoY. Professional services revenue $38.7M, up 16% YoY.
Read all positive updates
Company Guidance
Kinaxis said it is maintaining all aspects of its FY2026 guidance despite a stronger-than-expected Q1, citing Q1 results that bolster confidence: total revenue $165.6M (+25% y/y), SaaS revenue $102.9M (+21%), ARR $447M (+20%) with $14M added in Q1, SaaS RPO $905M and total RPO $949M, adjusted EBITDA $53.6M (+62%) with a 32% margin, net profit $29.4M, gross profit $114M (69% margin), Q1 cash from operations $59.1M (+87%) and cash/short-term investments $327.6M; trailing 12‑month free cash flow margin was 24% (Q1 FCF margin 35%). Management noted subscription term license revenue of $19.1M (+111%), professional services $38.7M (+16%, though full‑year services growth is expected to be low single digits), maintenance & support $4.9M (‑11%, with slight sequential declines expected), and disclosed $62M of share repurchases (570,204 shares) under a repurchase program capped at ~2.8M shares (~10% of float); they cited political, economic and FX volatility for a prudent posture and will reassess guidance next quarter.Kinaxis Inc Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
81
Very Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 578.63M | 557.62M | 483.11M | 426.97M | 366.89M | 250.73M |
| Gross Profit | 363.09M | 337.91M | 294.58M | 258.90M | 235.79M | 163.97M |
| EBITDA | 133.29M | 114.09M | 25.76M | 28.75M | 44.83M | 5.82M |
| Net Income | 83.81M | 71.94M | 56.00K | 10.06M | 20.08M | -1.17M |
Balance Sheet | ||||||
| Total Assets | 742.54M | 723.40M | 684.93M | 687.00M | 654.63M | 515.37M |
| Cash, Cash Equivalents and Short-Term Investments | 327.86M | 324.12M | 298.32M | 290.85M | 228.04M | 231.19M |
| Total Debt | 47.70M | 47.92M | 48.91M | 51.42M | 57.53M | 55.23M |
| Total Liabilities | 350.07M | 302.59M | 289.65M | 235.45M | 249.27M | 197.18M |
| Stockholders Equity | 392.47M | 420.80M | 395.28M | 451.56M | 405.37M | 318.20M |
Cash Flow | ||||||
| Free Cash Flow | 139.15M | 114.07M | 90.15M | 78.31M | 6.08M | 16.03M |
| Operating Cash Flow | 144.25M | 119.86M | 94.45M | 80.64M | 23.79M | 49.30M |
| Investing Cash Flow | 68.11M | -56.06M | -12.97M | -68.40M | -72.76M | -34.05M |
| Financing Cash Flow | -122.45M | -83.96M | -79.67M | -12.23M | 26.04M | 5.75M |
Kinaxis Inc Technical Analysis
Positive
147.02
Price Trends
141.07
Positive
142.90
Positive
162.49
Negative
Market Momentum
0.40
Positive
54.20
Neutral
24.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:KXS, the sentiment is Positive. The current price of 147.02 is above the 20-day moving average (MA) of 143.05, above the 50-day MA of 141.07, and below the 200-day MA of 162.49, indicating a neutral trend. The MACD of 0.40 indicates Positive momentum. The RSI at 54.20 is Neutral, neither overbought nor oversold. The STOCH value of 24.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:KXS.
Kinaxis Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | C$4.05B | 24.17 | 19.72% | ― | 16.06% | 744.14% | |
76 Outperform | C$698.69M | -77.25 | 90.79% | ― | 11.83% | 57.19% | |
72 Outperform | C$922.66M | 14.62 | 11.48% | 5.69% | -2.18% | -18.24% | |
71 Outperform | C$8.57B | 34.64 | 10.76% | ― | 13.08% | 14.82% | |
69 Neutral | C$7.65B | 8.13 | 12.93% | 3.27% | -0.86% | -16.61% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | C$5.06B | 54.67 | 14.84% | ― | 11.86% | 74.64% |
* Technology Sector Average
TSE:KXS
Kinaxis Inc
146.41
-50.24
-25.55%
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Kinaxis Inc Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Kinaxis CFO to Depart Amid Strong AI-Driven Growth Momentum
Positive
Mar 5, 2026
Kinaxis Inc., a Canadian supply chain orchestration specialist, develops the AI-powered Maestro platform to help global enterprises manage complex supply chains with greater transparency and agility. Its software supports planning and execution ac...
Business Operations and StrategyFinancial Disclosures
Kinaxis Posts Record Q4 2025 as SaaS and Recurring Revenue Surge
Positive
Mar 5, 2026
Kinaxis reported record fourth-quarter 2025 results, with SaaS revenue up 19% and annual recurring revenue rising 20% to $433 million, supported by strong incremental bookings and a remaining performance obligation nearing $1 billion. The company ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.