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Kinaxis Brings AI-powered Supply Chain Breakthroughs To Tokyo At Kinexions 25
Kinaxis Brings AI-powered Supply Chain Breakthroughs To Tokyo At Kinexions 25

Barnama

time3 days ago

  • Business
  • Barnama

Kinaxis Brings AI-powered Supply Chain Breakthroughs To Tokyo At Kinexions 25

TOKYO, May 29 (Bernama) -- Kinaxis® (TSX: KXS), a global leader in end-to-end supply chain orchestration, today announced it will host Kinexions Japan 25 on Tuesday, June 3, 2025, in Tokyo. This year's event will spotlight new product capabilities and customer strategies designed for complex, fast-changing supply chain environments. Part of the global Kinexions event series, Kinexions Japan brings together supply chain leaders, business decision-makers, and industry experts to reveal how organizations are accelerating decision-making, improving collaboration, and scaling operations with greater resilience. With pressure mounting from disruption, sustainability demands, and economic uncertainty, this year's event delivers practical insights, customer success stories, and strategies that are helping organizations take action today. Attendees will get an early look at Maestro™ features, including faster scenario modeling, integrated planning, and real-time coordination across global operations.

Kinaxis to Unveil the Next Phase of AI Innovation at Kinexions 2025
Kinaxis to Unveil the Next Phase of AI Innovation at Kinexions 2025

Yahoo

time11-03-2025

  • Business
  • Yahoo

Kinaxis to Unveil the Next Phase of AI Innovation at Kinexions 2025

New agentic and generative AI capabilities will lower the barriers to entry and deliver critical business insights faster OTTAWA, Ontario, March 11, 2025--(BUSINESS WIRE)--Kinaxis® (TSX:KXS), a global leader in end-to-end supply chain orchestration, is set to unveil new artificial intelligence capabilities in its Maestro™ platform at Kinexions North America 2025, the company's global innovation conference. These AI capabilities are designed to accelerate the value that AI can create in supply chains, helping companies navigate an increasingly volatile global trade environment - whether they are just beginning their AI journey or already leveraging advanced automation. The company will introduce AI agents that users can interact with to monitor, predict, and take action in real time — automating key tasks like inventory management and disruption mitigation. In addition, its agentic AI framework will enable companies to easily create their own AI agents on Maestro, making AI-driven supply chain orchestration accessible to businesses at any stage of AI maturity. Additionally, new generative AI functionality will make interacting with supply chain data even more intuitive: in addition to creating customizable dashboards, users will be able to query their digital twin by asking questions in dozens of natural languages and receive instant, insightful answers to complex questions. This removes the technical skills typically required to interact with data, allowing teams to analyze scenarios, assess risks, and make informed decisions without requiring AI expertise. Existing generative AI from Kinaxis – Maestro Chat – has already been adopted by two-thirds of its user base and this new functionality will build on that success. Finally, Kinaxis will showcase how it's making predictive AI capabilities even more powerful and easy to use. AI-powered forecasting has traditionally been out of reach for many companies, requiring massive data sets, specialized expertise, and costly infrastructure. The company will build upon its unique machine learning-based sensing and forecasting capabilities that work with a wider range of data sets and that don't require deep AI expertise, so companies of all sizes can take advantage of predictive intelligence. "AI is transforming supply chains at a faster rate than any other technology has ever done before," said Andrew Bell, chief product officer at Kinaxis. "By democratizing access to critical supply chain intelligence, removing complexity, and enabling increasingly autonomous operations, we are empowering organizations of all sizes and stages of maturity to unlock the real value of AI in their supply chains today." Kinaxis customers and industry leaders attending Kinexions 2025 will be the first to experience these AI innovations through exclusive demonstrations and hands-on sessions. "Kinexions is the supply chain innovation event of the year and we're so excited to showcase the latest supply chain AI capabilities there in 2025," continued Bell. "We're staying ahead of what our customers need to remain competitive today and in the future." For more information on how Kinaxis is shaping the future of AI-driven supply chain orchestration, visit About Kinaxis Kinaxis is a global leader in modern supply chain orchestration, powering complex global supply chains and supporting the people who manage them, in service of humanity. Our powerful, AI-infused supply chain orchestration platform, 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 or follow us on LinkedIn. Cautionary Note and Forward-Looking Statements This announcement contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are intended to assist readers in understanding management's expectations as the date of this announcement and may not be suitable for other purposes. Forward-looking statements relate to future events and reflect management's expectations or beliefs regarding such future events. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "enable", "increase" "unveil", "will", "make", "allow", "build", "plan", "deliver", "anticipate", "believe" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. Forward looking information in this announcement includes statements with respect to Kinaxis' plans and development around AI innovations, and the utility of such innovations for Kinaxis' clients. By its very nature forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual plans, performances or results to be materially different from any anticipated plan, performance or result expressed or implied by such forward-looking statements. We describe many of the risks and uncertainties we face in detail in our 2024 Annual Information Form under the heading Risk Factors, which you can find on SEDAR+ ( In light of these risks and uncertainties, readers should not place undue reliance on forward-looking statements. The forward-looking statements made in this announcement relate only to events or information as of the date hereof and are expressly qualified in their entirety by this cautionary statement. Kinaxis does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future or unanticipated events or otherwise, unless we are required by law to do so. View source version on Contacts Media Relations Belinda Thomas | Kinaxisbthomas@ +1 613 322 9305 Investor Relations Rick Wadsworth | Kinaxisrwadsworth@ 613-907-7613

Kinaxis Inc. Reports Fourth Quarter 2024 Results
Kinaxis Inc. Reports Fourth Quarter 2024 Results

Yahoo

time26-02-2025

  • Business
  • Yahoo

Kinaxis Inc. Reports Fourth Quarter 2024 Results

Hit new quarterly record for incremental business won, and annual customer additions Q4 SaaS revenue grows 17%, adjusted EBITDA2 margin of 25%, annual recurring revenue3 grows 14% in constant currency, 12% as reported Full-year results meet all guidance elements OTTAWA, Ontario, February 26, 2025--(BUSINESS WIRE)--Kinaxis® (TSX:KXS), the leading provider of supply chain orchestration solutions, reported results for its fourth quarter and year ended December 31, 2024. All amounts are in U.S. dollars. All figures are prepared in accordance with International Financial Reporting Standards (IFRS) unless otherwise indicated. "Our record-breaking incremental business this quarter – balanced across all regions – reflects significant expansion activity and new customer wins, including prominent global brands. This success remains anchored in Maestro's product leadership, which will continue to grow as we launch new revenue-generating GenAI and Agentic AI capabilities," said Bob Courteau, interim chief executive officer at Kinaxis. "We're also encouraged by the continued positive results from our recent corporate realignment and elevated go-to-market team. Looking to 2025, we're focused on ARR growth, further progress towards our mid-term, normalized annual Adjusted EBITDA target of 25%, and the return to consistent Rule of 40 performance." Q4 2024 Highlights $ USD thousands, except as otherwise indicated Q4 2024 Q4 2023 Change Total Revenue 123,935 111,990 11% SaaS 81,856 69,891 17% Subscription term licenses 1,592 2,899 (45)% Professional services 35,092 34,318 2% Maintenance and support 5,395 4,882 11% Gross profitMargin 75,10261% 68,890 62% 9% Profit (loss)Per diluted share (16,316)$(0.58) 4,021 $0.14 —(1) Adjusted EBITDA2Margin 31,46225% 19,727 18% 59% Cash from (used in) operating activities 24,117 27,969 (14)% (1) The Percentage change has been excluded as it is not meaningful.(2) "Adjusted EBITDA" is a non-IFRS measures 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. FY 2024 Highlights $ USD thousands, except as otherwise indicated FY 2024 FY 2023 Change Total Revenue 483,111 426,971 13% SaaS Revenue 309,243 265,080 17% Adjusted EBITDA2Margin 106,085 22% 74,872 18% 42% Key Performance Indicators The company's Annual Recurring Revenue3 (ARR), which includes subscription amounts related to both SaaS and on-premise contracts, rose 12% to $360 million at the end of the quarter, and 14% in constant currency. $USD millions Q4 2024 Q4 2023 Change Annual recurring revenue2 $ 360 $ 322 12% (3) 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 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. 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 December 31, 2024. $USD millions 2025 2026 2027 and later Total SaaS 295.1 215.4 236.8 747.3 Maintenance and support 20.6 13.2 12.8 46.6 Subscription term licenses 9.1 0.1 — 9.2 Total 324.8 228.7 249.6 803.1 Financial Guidance Kinaxis is introducing its fiscal 2025 financial guidance, as follows. FY 2025 Guidance Total revenue Constant currency $535-550 million $545-560 million SaaS Constant currency 11-13% growth 12-14% growth Subscription term license $16-18 million Adjusted EBITDA2 margin 23-25% "We achieved record Incremental ARR in the quarter, though the performance gets masked when looking at period-end ARR and RPO balances, due to recent significant fluctuations in key foreign exchange rates against the US dollar," said Blaine Fitzgerald, chief financial officer at Kinaxis. "Our profitability, measured in Adjusted EBITDA margin, continues to improve and we maintained a strong trailing 12-month free cash flow margin, thanks to ongoing operating leverage gained through disciplined investment and important changes we've made to the organization. For 2025, we expect ongoing leverage in research and development and general and administrative expenses, while continuing to make important investments in priority sales and marketing initiatives and steadily progressing towards our mid-term Adjusted EBITDA target." 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 December 31, 2024 are available on Kinaxis' website and on SEDAR+ at Conference Call Kinaxis will host a conference call tomorrow, February 27, 2025, to discuss these results. Bob Courteau, interim chief executive officer, and Blaine Fitzgerald, chief financial officer, will host the call starting at 8:30 a.m. Eastern Time. A question and answer session will follow management's presentation. Investors and participants must register for the call in advance. See registration link below. Please call the conference telephone number fifteen minutes prior to the start time. DATE: Thursday, February 27, 2025 TIME: 8:30 a.m. Eastern Time CALL REGISTRATION: WEBCAST (available for three months) About Kinaxis Inc. Kinaxis is a global leader in modern supply chain orchestration, powering complex global supply chains and supporting the people who manage them, in service of humanity. Our powerful, AI-infused supply chain orchestration platform, 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 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 the changes in the fair value of contingent consideration, our equity compensation plans, special charges, and non-recurring items. Adjusted EBITDA represents profit adjusted to exclude the change in the fair value of contingent consideration, our equity compensation plans, special charges, non-recurring items, 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 December 31, Year ended December 31, 2024 2023 2024 2023 (In thousands of USD) (In thousands of USD) Profit (loss) (16,316 ) 4,021 56 10,060 Change in fair value of contingent consideration — — — 1,951 Share-based compensation 10,228 8,388 39,581 34,507 Special charges(1) 18,191 — 21,365 — Non-recurring item(2) (71 ) — 7,249 — Adjusted profit 12,032 12,409 68,251 46,518 Income tax expense 17,068 4,791 25,096 9,676 Depreciation and amortization 6,046 6,424 24,928 26,284 Foreign exchange loss (gain) (927 ) (797 ) (682 ) 1,236 Net finance income (2,757 ) (3,100 ) (11,508 ) (8,842 ) 19,430 7,318 37,834 28,354 Adjusted EBITDA 31,462 19,727 106,085 74,872 Adjusted EBITDA as a percentage of revenue 25.4 % 17.6 % 22.0 % 17.5 % Note:(1) Costs associated with business transformation activities.(2) Costs associated with the restructuring initiative Forward-Looking Statements Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "aim", "estimate", "intend", "plan", "seek", "believe", "potential", "continue", "is/are likely to" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect the financial condition, results of operations, business strategy and financial needs of Kinaxis. Forward-looking statements include statements as to our expectations for: growth of annual total revenue, annual SaaS and Subscription term licenses revenue, and our expectations for Adjusted EBITDA margin achievement, in each case looking forward for our fiscal year ending December 31, 2025; and SaaS growth and increased profitability in years beyond 2025; and contracted revenue in future periods, including 2025, 2026 and 2027 and later. This release also includes forward-looking statements as to Kinaxis' growth opportunities and the potential benefits of, and markets and demand for, Kinaxis' products and services. 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. In particular, our guidance for 2025 annual total revenue, annual SaaS and Subscription term license revenue and annual Adjusted EBITDA margin, as well as our comments on our expectations for SaaS growth and increased profitability in years beyond 2025, 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; 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 2025, 2026 and 2027 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. 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 February 26, 2025, and under the heading "Risk Factors" in our 2024 Annual Information Form dated February 26, 2025, which are available at Forward-looking statements 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, whether as a result of new information, future events or otherwise, except as expressly required by law. SOURCE: Kinaxis Inc. Kinaxis Statements of Financial Position(Expressed in thousands of USD) December 31,2024 December 31,2023 Assets Current assets: Cash and cash equivalents 172,192 174,844 Short-term investments 126,307 118,118 Trade and other receivables 156,394 156,609 Prepaid expenses 18,244 14,810 473,137 464,381 Non-current assets: Unbilled receivables 1,448 3,155 Other receivables 867 972 Prepaid expenses 2,072 1,130 Investment tax credits recoverable — 8,362 Deferred tax assets 11,016 1,184 Contract acquisition costs 32,005 27,438 Property and equipment 32,486 40,300 Right-of-use assets 46,705 47,109 Intangible assets 12,865 23,394 Goodwill 72,735 74,556 212,199 227,600 685,336 691,981 Liabilities and Shareholders' Equity Current liabilities: Trade payables and accrued liabilities 94,369 39,700 Deferred revenue 140,008 137,598 Provisions 544 — Lease obligations 5,587 5,805 240,508 183,103 Non-current liabilities: Lease obligations 43,348 45,985 Deferred tax liabilities 5,969 8,065 49,317 54,050 Shareholders' equity: Share capital 285,422 307,327 Contributed surplus 12,078 44,339 Accumulated other comprehensive gain (loss) (3,847 ) 1,360 Retained earnings 101,858 101,802 395,511 454,828 685,336 691,981 Kinaxis Statements of Comprehensive Income(Expressed in thousands of USD, except share and per share data) Three months ended December 31, Year ended December 31, 2024 2023 2024 2023 Revenue $ 123,935 $ 111,990 $ 483,111 $ 426,971 Cost of revenue 48,833 43,100 188,528 168,074 Gross profit 75,102 68,890 294,583 258,897 Operating expenses: Selling and marketing 25,624 26,606 100,531 102,719 Research and development 21,310 20,665 87,653 81,707 General and administrative 31,172 16,703 93,661 60,369 78,106 63,974 281,845 244,795 (3,004 ) 4,916 12,738 14,102 Other income: Foreign exchange gain (loss) 927 797 682 (1,236 ) Net finance and other income 2,829 3,099 11,732 8,821 Change in fair value of contingent consideration — — — (1,951 ) 3,756 3,896 12,414 5,634 Profit before income taxes 752 8,812 25,152 19,736 Income tax expense: 17,068 4,791 25,096 9,676 Profit (loss) (16,316 ) 4,021 56 10,060 Other comprehensive income (loss): Items that are or may be reclassified subsequently to profit: Foreign currency translation differences - foreign operations (4,660 ) 2,543 (3,563 ) 1,075 Change in valuation of cash flow hedges (1,389 ) 804 (1,644 ) 441 (6,049 ) 3,347 (5,207 ) 1,516 Total comprehensive income (loss) $ (22,365 ) $ 7,368 $ (5,151 ) $ 11,576 Basic earnings (loss) per share $ (0.58 ) $ 0.14 $ — $ 0.36 Weighted average number of basic Common Shares 28,132,782 28,114,987 28,243,305 28,321,874 Diluted earnings (loss) per share $ (0.58 ) $ 0.14 $ — $ 0.35 Weighted average number of diluted Common Shares 28,132,782 28,863,575 28,939,759 29,149,535 Kinaxis 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, 2022 $ 244,713 $ 65,129 $ — $ (156 ) $ (156 ) $ 91,742 $ 401,428 Profit — — — — — 10,060 10,060 Other comprehensive income — — 441 1,075 1,516 — 1,516 Total comprehensive income — — 441 1,075 1,516 10,060 11,576 Share options exercised 41,545 (9,991 ) — — — — 31,554 Restricted share units vested 10,676 (10,676 ) — — — — — Performance share units vested 2,628 (2,628 ) — — — — — Share-based payments — 35,788 — — — — 35,788 Shares issued for contingent consideration 11,097 — — — — — 11,097 Shares repurchased (3,332 ) (33,283 ) — — — — (36,615 ) Total shareholder transactions 62,614 (20,790 ) — — — — 41,824 Balance, December 31, 2023 307,327 44,339 441 919 1,360 101,802 454,828 Profit — — — — — 56 56 Other comprehensive loss — — (1,644 ) (3,563 ) (5,207 ) — (5,207 ) Total comprehensive income (loss) — — (1,644 ) (3,563 ) (5,207 ) 56 (5,151 ) Share options exercised 28,065 (6,512 ) — — — — 21,553 Restricted share units vested 14,992 (14,992 ) — — — — — Deferred share units vested (1,396 ) (1,396 ) — — — — — Performance share units vested 5,533 (5,533 ) — — — — — Share-based payments — 40,723 — — — — 40,723 Shares repurchased (53,727 ) (44,551 ) — — — — (98,278 ) Obligations related to shares repurchased (18,164 ) — — — — — (18,164 ) Total shareholder transactions (21,905 ) (32,261 ) — — — — (54,166 ) Balance, December 31, 2024 285,422 12,078 (1,203 ) (2,644 ) (3,847 ) 101,858 395,511 Kinaxis Statements of Cash Flows(Expressed in thousands of USD) Three months ended December 31, Year ended December 31, 2024 2023 2024 2023 Cash flows from (used in) operating activities: Profit (loss) $ (16,316 ) $ 4,021 $ 56 $ 10,060 Items not affecting cash: Depreciation of property and equipment and right-of-use assets 4,726 5,093 19,614 20,880 Amortization of intangible assets 1,320 1,331 5,314 5,404 Impairment loss on intangible assets 4,521 — 4,521 — Share-based payments 10,228 8,388 39,581 34,507 Net finance income (2,757 ) (3,100 ) (11,508 ) (8,842 ) Change in fair value of contingent consideration — — — 1,951 Income tax expense 17,068 4,791 25,096 9,676 Investment tax credits recoverable 11,271 1,463 8,362 (771 ) Change in operating assets and liabilities (8,814 ) 4,633 900 5,369 Interest received 3,750 2,508 14,137 7,853 Interest paid (437 ) (393 ) (1,714 ) (1,640 ) Income taxes paid (443 ) (766 ) (5,146 ) (5,090 ) 24,117 27,969 99,213 79,357 Cash flows from (used in) investing activities: Purchase of property and equipment and intangible assets (2,268 ) (289 ) (4,515 ) (2,299 ) Purchase of short-term investments (103,316 ) (32,955 ) (342,076 ) (205,679 ) Redemption of short-term investments 87,855 45,501 332,972 140,666 (17,729 ) 12,257 (13,619 ) (67,312 ) Cash flows used in financing activities: Payment of lease obligations (1,603 ) (1,729 ) (6,963 ) (6,974 ) Repurchase of shares (19,996 ) (36,615 ) (98,278 ) (36,615 ) Proceeds from exercise of stock options 7,969 10,839 21,553 31,554 (13,630 ) (27,505 ) (83,688 ) (12,035 ) Increase (decrease) in cash and cash equivalents (7,242 ) 12,721 1,906 10 Cash and cash equivalents, beginning of year 183,228 160,303 174,844 175,347 Effects of exchange rates on cash and cash equivalents $ (3,794 ) $ 1,820 $ (4,558 ) $ (513 ) Cash and cash equivalents, end of year 172,192 174,844 172,192 174,844 View source version on Contacts Investor Relations Rick Wadsworth | Kinaxisrwadsworth@ 613-907-7613 Media Relations Belinda Thomas | Kinaxisbthomas@ 613-322-9305 Sign in to access your portfolio

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