- SaaS revenue grows 21%; constant currency1 SaaS revenue grows 27%
- Total revenue grows 35%; constant currency1 total revenue grows 42%
- Adjusted EBITDA1 margin of 13%; constant currency1 adjusted EBITDA1 margin of 15%
- ARR grows 21%; constant currency1 ARR grows 25% as company experiences ongoing strength in new customer wins and existing customer expansions
OTTAWA, Ontario--(BUSINESS WIRE)-- Kinaxis ® (TSX:KXS) , the authority in driving agility for fast, confident decision-making in an unpredictable world, reported results for its second quarter ended June 30, 2022. All amounts are in U.S. dollars. All figures are prepared in accordance with International Financial Reporting Standards (IFRS) unless otherwise indicated.
“Each quarter we continue to see significant growth in new customers over comparable periods, and the demand environment for supply chain planning continues to strengthen. We remain at the epicenter of a wave of transformation to end-to-end digital supply chains and are the only solution provider to offer real-time visibility, actionability and agility through a unique concurrent planning approach,” said John Sicard, President and CEO of Kinaxis. “While foreign exchange fluctuations are a headwind to reported results for North American SaaS companies right now, our constant currency1 results and outlook clearly demonstrate how we are experiencing ongoing momentum in SaaS revenue and ARR growth, and are executing to plan against our profitability goals for the year.”
Q2 2022 Highlights
|
$ USD thousands, except as otherwise indicated |
Q2 2022 |
Q2 2021 |
Change |
||||||
|
Total Revenue |
80,800 |
|
|
60,056 |
|
|
35% |
||
|
(constant currency1) |
85,264 |
|
|
|
|
|
42% |
||
|
SaaS |
51,109 |
|
|
42,301 |
|
|
21% |
||
|
(constant currency1) |
53,530 |
|
|
|
|
|
27% |
||
|
Subscription term licenses |
378 |
|
|
620 |
|
|
(39%) |
||
|
Professional services |
25,386 |
|
|
14,001 |
|
|
81% |
||
|
Maintenance and support |
3,927 |
|
|
3,134 |
|
|
25% |
||
|
Gross profit |
49,776 |
|
|
40,273 |
|
|
24% |
||
|
Margin |
62% |
|
|
67% |
|
|
|
||
|
Profit |
(2,632) |
|
|
3,088 |
|
|
(185%) |
||
|
Per diluted share |
($0.10) |
|
|
$0.11 |
|
|
|
||
|
Adjusted EBITDA1 |
10,376 |
|
|
7,149 |
|
|
45% |
||
|
Margin |
13% |
|
|
12% |
|
|
|
||
|
(constant currency1) |
13,107 |
|
|
|
|
|
83% |
||
|
15% |
|
|
|
|
|
|
|||
|
Cash from operating activities |
8,415 |
|
|
15,002 |
|
|
(44%) |
|
(1) |
“Adjusted EBITDA” and constant currency metrics are non-IFRS measures and are not recognized, defined or standardized measures under IFRS. These 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. |
Key Performance Indicators
The company’s Annual Recurring Revenue2 (ARR), which includes subscription amounts related to both SaaS and on-premise contracts, rose 25% in constant currency1 to $249 million at the end of the quarter.
|
$USD millions |
Q2 2022 |
Q2 2021 |
Change |
|
Annual recurring revenue2 |
241 |
200 |
21% |
|
Annual recurring revenue2, |
249 |
200 |
25% |
|
(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. |
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 June 30, 2022.
|
$USD millions |
Remainder of |
2023 |
2024 and later |
Total |
|
SaaS |
101.5 |
169.4 |
188.7 |
459.6 |
|
Maintenance and support |
7.2 |
11.1 |
14.0 |
32.3 |
|
Subscription term licenses |
2.8 |
- |
0.1 |
2.9 |
|
Total |
111.6 |
180.5 |
202.7 |
494.8 |
Financial Guidance
Kinaxis is updating its previous fiscal 2022 financial guidance. To date in 2022, Kinaxis has seen an incremental strengthening of the U.S. dollar that has negatively impacted reported results – most notably for SaaS revenue. Removing the impact of these foreign exchange fluctuations, on a constant currency1 basis Kinaxis sees SaaS revenue growth of 25-27% for FY 2022, reflecting the ongoing underlying strength in the business environment.
|
|
Previous FY 2022 Guidance |
Updated FY 2022 Guidance |
|
Total revenue |
$345-355 million |
$355-365 million |
|
SaaS |
23-25% growth |
21-23% growth |
|
Subscription term license |
$32-34 million |
$34-36 million |
|
Adjusted EBITDA1 margin |
16-19% |
16-19% |
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 three months ended June 30, 2022 are available on Kinaxis’ website and on SEDAR at www.sedar.com.
Conference Call
Kinaxis will host a conference call tomorrow, August 10, 2022, to discuss these results. John Sicard, 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: |
Wednesday, August 10, 2022 |
|
|
TIME: |
8:30 a.m. Eastern Time |
|
|
CALL REGISTRATION: |
||
|
WEBCAST: |
https://events.q4inc.com/attendee/109665882 (available for three months) |
|
|
REPLAY: |
(800)-770-2030 or (647)-362-9199 |
About Kinaxis Inc.
Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, follow us on LinkedIn or Twitter.
Non-IFRS Measures
Adjusted EBITDA and Adjusted EBITDA Margin
This news release contains non-IFRS measures, specifically Adjusted EBITDA and Adjusted EBITDA margin. We use Adjusted EBITDA to provide investors with a supplemental measure of our operating performance and thus 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. 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. Adjusted EBITDA and Adjusted EBITDA margins are not recognized, defined or standardized measures under IFRS. Our definition of Adjusted EBITDA and Adjusted EBITDA margin will likely differ from that 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 EBITDA to the most comparable IFRS financial measure as follows:
|
|
Three months ended June 30, |
|
Six months ended June 30, |
|||||||||||||
|
|
2022 |
|
2021 |
|
2022 |
|
|
2021 |
||||||||
|
|
(In thousands of USD) |
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||
|
Profit (loss) |
$ |
(2,632 |
) |
|
$ |
3,088 |
|
|
$ |
9,890 |
|
|
|
$ |
1,554 |
|
|
Share-based compensation |
|
6,503 |
|
|
|
5,902 |
|
|
|
12,506 |
|
|
|
|
11,209 |
|
|
Non-recurring item |
|
— |
|
|
|
(7,906 |
) |
|
|
— |
|
|
|
|
(7,906 |
) |
|
Adjusted profit |
$ |
3,871 |
|
|
$ |
1,084 |
|
|
$ |
22,396 |
|
|
|
$ |
4,857 |
|
|
Income tax expense |
|
986 |
|
|
|
916 |
|
|
|
8,114 |
|
|
|
|
984 |
|
|
Depreciation and amortization |
|
6,061 |
|
|
|
4,598 |
|
|
|
11,975 |
|
|
|
|
9,068 |
|
|
Foreign exchange loss (gain) |
|
(623 |
) |
|
|
443 |
|
|
|
542 |
|
|
|
|
911 |
|
|
Net finance expense |
|
81 |
|
|
|
108 |
|
|
|
498 |
|
|
|
|
370 |
|
|
|
|
6,505 |
|
|
|
6,065 |
|
|
|
21,129 |
|
|
|
|
11,333 |
|
|
Adjusted EBITDA |
$ |
10,376 |
|
|
$ |
7,149 |
|
|
$ |
43,525 |
|
|
|
$ |
16,190 |
|
|
Adjusted EBITDA as a percentage of revenue |
|
13 |
% |
|
|
12 |
% |
|
|
24 |
% |
|
|
|
14 |
% |
Constant Currency metrics
We present SaaS revenue, total revenue, adjusted EBITDA, ARR and their related growth rates under constant currency, a non-IFRS measure, to provide a framework for assessing how our business performed excluding the effect of foreign currency rate fluctuations. Such results for entities reporting in currencies other than U.S. Dollars (“USD”) are converted into USD at the average exchange rates in effect during the comparison period (i.e., for Q2 2022, the average exchange rates in effect for Q2 2021), rather than the actual average exchange rates in effect during the current period. The outlook for constant currency SaaS revenue growth rate is derived by applying the average exchange rates in effect during the comparison period rather than the exchange rates for the guidance period (i.e., for FY 2022 constant currency guidance, the average exchange rates in effect for FY 2021). We believe the presentation of the above metrics and applicable related growth rates adjusted for constant currency facilitates the corresponding year‑over‑year comparisons.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. 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, 2022; and
- contracted revenue in future periods, including 2022, 2023 and 2024 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 2022 annual total revenue, annual SaaS and Subscription term license revenue and annual Adjusted EBITDA margin, is 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;
- fluctuations in the value of foreign currencies relative to the U.S. Dollar; and
- with respect to Adjusted EBITDA, our ability to contain expense levels while expanding our business.
Our guidance and commentary for achievement of contracted revenue in future periods, including in 2022, 2023 and 2024 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 March 1, 2022, under the heading “Risk Factors” in our Annual Information Form dated March 25, 2022 and in our other public documents filed with Canadian securities regulatory authorities, which are available at www.sedar.com . 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.
|
Condensed Consolidated Interim Statements of Financial Position |
||||||
|
|
June 30, |
December 31, |
||||
|
Assets |
|
|
||||
|
Current assets: |
|
|
||||
|
Cash and cash equivalents |
$ |
227,862 |
|
$ |
203,220 |
|
|
Short-term investments |
|
30,197 |
|
|
30,168 |
|
|
Trade and other receivables |
|
84,582 |
|
|
89,247 |
|
|
Prepaid expenses |
|
11,721 |
|
|
8,502 |
|
|
|
|
354,362 |
|
|
331,137 |
|
|
Non-current assets: |
|
|
||||
|
Unbilled receivables |
|
2,766 |
|
|
512 |
|
|
Other receivables |
|
967 |
|
|
1,096 |
|
|
Prepaid expenses |
|
2,878 |
|
|
1,780 |
|
|
Investment tax credits recoverable |
|
6,140 |
|
|
3,616 |
|
|
Deferred tax assets |
|
987 |
|
|
6,000 |
|
|
Contract acquisition costs |
|
22,276 |
|
|
19,691 |
|
|
Property and equipment |
|
51,025 |
|
|
52,093 |
|
|
Right-of-use assets |
|
55,142 |
|
|
53,578 |
|
|
Intangible assets |
|
11,215 |
|
|
10,778 |
|
|
Goodwill |
|
42,412 |
|
|
39,988 |
|
|
|
|
195,808 |
|
|
189,132 |
|
|
|
$ |
550,170 |
|
$ |
520,269 |
|
|
Liabilities and Shareholders’ Equity |
|
|
||||
|
Current liabilities: |
|
|
||||
|
Trade payables and accrued liabilities |
$ |
37,629 |
|
$ |
43,328 |
|
|
Deferred revenue |
|
102,356 |
|
|
99,239 |
|
|
Provisions |
|
367 |
|
|
716 |
|
|
Lease obligations |
|
7,042 |
|
|
2,526 |
|
|
|
|
147,394 |
|
|
145,809 |
|
|
Non-current liabilities: |
|
|
||||
|
Lease obligations |
|
53,867 |
|
|
53,233 |
|
|
Deferred tax liabilities |
|
1,021 |
|
|
9 |
|
|
|
|
54,888 |
|
|
53,242 |
|
|
Shareholders’ equity: |
|
|
||||
|
Share capital |
|
206,298 |
|
|
195,414 |
|
|
Contributed surplus |
|
62,074 |
|
|
54,739 |
|
|
Accumulated other comprehensive loss |
|
(2,036 |
) |
|
(597 |
) |
|
Retained earnings |
|
81,552 |
|
|
71,662 |
|
|
|
|
347,888 |
|
|
321,218 |
|
|
|
$ |
550,170 |
|
$ |
520,269 |
|
|
Condensed Consolidated Interim Statements of Comprehensive Income (Loss) |
||||||||||||
|
|
Three months ended June 30, |
Six months ended June 30, |
||||||||||
|
|
2022 |
2021 |
2022 |
2021 |
||||||||
|
|
|
|
|
|
||||||||
|
Revenue |
$ |
80,800 |
|
$ |
60,056 |
|
$ |
178,908 |
|
$ |
117,784 |
|
|
|
|
|
|
|
||||||||
|
Cost of revenue |
|
31,024 |
|
|
19,783 |
|
|
59,490 |
|
|
40,289 |
|
|
Gross profit |
|
49,776 |
|
|
40,273 |
|
|
119,418 |
|
|
77,495 |
|
|
|
|
|
|
|
||||||||
|
Operating expenses: |
|
|
|
|
||||||||
|
Selling and marketing |
|
21,138 |
|
|
14,279 |
|
|
38,264 |
|
|
27,117 |
|
|
Research and development |
|
18,076 |
|
|
11,223 |
|
|
36,233 |
|
|
24,905 |
|
|
General and administrative |
|
12,817 |
|
|
10,323 |
|
|
26,001 |
|
|
21,865 |
|
|
|
|
52,031 |
|
|
35,825 |
|
|
100,498 |
|
|
73,887 |
|
|
|
|
(2,255 |
) |
|
4,448 |
|
|
18,920 |
|
|
3,608 |
|
|
|
|
|
|
|
||||||||
|
Other income (expense): |
|
|
|
|
||||||||
|
Foreign exchange gain/(loss) |
|
623 |
|
|
(443 |
) |
|
(542 |
) |
|
(911 |
) |
|
Net finance and other expense |
|
(14 |
) |
|
(1 |
) |
|
(374 |
) |
|
(159 |
) |
|
|
|
609 |
|
|
(444 |
) |
|
(916 |
) |
|
(1,070 |
) |
|
Profit (loss) before income taxes |
|
(1,646 |
) |
|
4,004 |
|
|
18,004 |
|
|
2,538 |
|
|
|
|
|
|
|
||||||||
|
Income tax expense |
|
986 |
|
|
916 |
|
|
8,114 |
|
|
984 |
|
|
Profit (loss) |
|
(2,632 |
) |
|
3,088 |
|
|
9,890 |
|
|
1,554 |
|
|
|
|
|
|
|
||||||||
|
Other comprehensive loss |
|
|
|
|
||||||||
|
|
|
|
|
|
||||||||
|
Items that are or may be reclassified subsequently to profit or loss: |
|
|
|
|
||||||||
|
Foreign currency translation differences - foreign operations |
|
(1,059 |
) |
|
39 |
|
|
(1,439 |
) |
|
(230 |
) |
|
Total comprehensive income (loss) |
$ |
(3,691 |
) |
$ |
3,127 |
|
$ |
8,451 |
|
$ |
1,324 |
|
|
|
|
|
|
|
||||||||
|
Basic earnings (loss) per share |
$ |
(0.10 |
) |
$ |
0.11 |
|
$ |
0.36 |
|
$ |
0.06 |
|
|
|
|
|
|
|
||||||||
|
Weighted average number of basic Common Shares |
|
27,593,598 |
|
|
27,110,830 |
|
|
27,537,845 |
|
|
27,165,088 |
|
|
|
|
|
|
|
||||||||
|
Diluted earnings (loss) per share |
$ |
(0.10 |
) |
$ |
0.11 |
|
$ |
0.35 |
|
$ |
0.05 |
|
|
|
|
|
|
|
||||||||
|
Weighted average number of diluted Common Shares |
|
27,593,598 |
|
|
28,132,511 |
|
|
28,478,656 |
|
|
28,260,273 |
|
|
Condensed Consolidated Interim Statements of Changes in Shareholders’ Equity |
|||||||||||||
|
|
Share |
Contributed |
Accumulated |
Retained |
Total equity |
||||||||
|
|
|
|
|
|
|
||||||||
|
Balance, December 31, 2020 |
$ |
173,104 |
$ |
35,846 |
|
$ |
(20 |
) |
$ |
72,827 |
$ |
281,757 |
|
|
|
|
|
|
|
|
||||||||
|
Profit |
|
— |
|
— |
|
|
— |
|
|
1,554 |
|
1,554 |
|
|
Other comprehensive loss |
|
— |
|
— |
|
|
(230 |
) |
|
— |
|
(230 |
) |
|
Total comprehensive loss |
|
— |
|
— |
|
|
(230 |
) |
|
1,554 |
|
1,324 |
|
|
|
|
|
|
|
|
||||||||
|
Share options exercised |
|
6,164 |
|
(1,600 |
) |
|
— |
|
|
— |
|
4,564 |
|
|
Share based payments |
|
— |
|
11,209 |
|
|
— |
|
|
— |
|
11,209 |
|
|
Total shareholder transactions |
|
6,164 |
|
9,609 |
|
|
— |
|
|
— |
|
15,773 |
|
|
|
|
|
|
|
|
||||||||
|
Balance, June 30, 2021 |
$ |
179,268 |
$ |
45,455 |
|
$ |
(250 |
) |
$ |
74,381 |
$ |
298,854 |
|
|
|
|
|
|
|
|
||||||||
|
Balance, December 31, 2021 |
$ |
195,414 |
$ |
54,739 |
|
$ |
(597 |
) |
$ |
71,662 |
$ |
321,218 |
|
|
|
|
|
|
|
|
||||||||
|
Profit |
|
— |
|
— |
|
|
— |
|
|
9,890 |
|
9,890 |
|
|
Other comprehensive loss |
|
— |
|
— |
|
|
(1,439 |
) |
|
— |
|
(1,439 |
) |
|
Total comprehensive income (loss) |
|
— |
|
— |
|
|
(1,439 |
) |
|
9,890 |
|
8,451 |
|
|
|
|
|
|
|
|
||||||||
|
Share options exercised |
|
9,869 |
|
(2,176 |
) |
|
— |
|
|
— |
|
7,693 |
|
|
Restricted share units vested |
|
598 |
|
(598 |
) |
|
— |
|
|
— |
|
— |
|
|
Performance share units vested |
|
417 |
|
(417 |
) |
|
— |
|
|
— |
|
— |
|
|
Share based payments |
|
— |
|
10,526 |
|
|
— |
|
|
— |
|
10,526 |
|
|
Total shareholder transactions |
|
10,884 |
|
7,335 |
|
|
— |
|
|
— |
|
18,219 |
|
|
|
|
|
|
|
|
||||||||
|
Balance, June 30, 2022 |
$ |
206,298 |
$ |
62,074 |
|
$ |
(2,036 |
) |
$ |
81,552 |
$ |
347,888 |
|
|
Condensed Consolidated Interim Statements of Cash Flows |
||||||||||||
|
|
Three Months Ended June 30, |
Six months ended June 30, |
||||||||||
|
|
2022 |
2021 |
2022 |
2021 |
||||||||
|
|
|
|
|
|
||||||||
|
Cash flows from operating activities: |
|
|
|
|
||||||||
|
|
|
|
|
|
||||||||
|
Profit (loss) |
$ |
(2,632 |
) |
$ |
3,088 |
|
$ |
9,890 |
|
$ |
1,554 |
|
|
Items not affecting cash: |
|
|
|
|
||||||||
|
Depreciation of property and equipment and right-of-use assets |
|
5,437 |
|
|
4,037 |
|
|
10,768 |
|
|
7,946 |
|
|
Amortization of intangible assets |
|
624 |
|
|
561 |
|
|
1,207 |
|
|
1,122 |
|
|
Share-based payments |
|
6,503 |
|
|
5,902 |
|
|
12,506 |
|
|
11,209 |
|
|
Net finance expense |
|
81 |
|
|
1 |
|
|
498 |
|
|
159 |
|
|
Income tax expense |
|
986 |
|
|
916 |
|
|
8,114 |
|
|
984 |
|
|
Investment tax credits recoverable |
|
(1,482 |
) |
|
674 |
|
|
(2,524 |
) |
|
249 |
|
|
Change in operating assets and liabilities |
|
(64 |
) |
|
70 |
|
|
(7,296 |
) |
|
13,010 |
|
|
Interest received |
|
372 |
|
|
183 |
|
|
402 |
|
|
206 |
|
|
Interest paid |
|
(475 |
) |
|
(173 |
) |
|
(929 |
) |
|
(357 |
) |
|
Income taxes paid |
|
(935 |
) |
|
(257 |
) |
|
(2,228 |
) |
|
(431 |
) |
|
|
|
8,415 |
|
|
15,002 |
|
|
30,408 |
|
|
35,651 |
|
|
|
|
|
|
|
||||||||
|
Cash flows used in investing activities: |
|
|
|
|
||||||||
|
|
|
|
|
|
||||||||
|
Acquisition of business, net of cash acquired |
|
9 |
|
|
— |
|
|
(3,019 |
) |
|
(800 |
) |
|
Purchase of property and equipment and intangible assets |
|
(1,275 |
) |
|
(12,489 |
) |
|
(7,554 |
) |
|
(16,930 |
) |
|
Purchase of short-term investments |
|
(15,154 |
) |
|
(15,154 |
) |
|
(30,160 |
) |
|
(30,160 |
) |
|
Redemption of short-term investments |
|
15,154 |
|
|
15,154 |
|
|
30,160 |
|
|
30,160 |
|
|
|
|
(1,266 |
) |
|
(12,489 |
) |
|
(10,573 |
) |
|
(17,730 |
) |
|
|
|
|
|
|
||||||||
|
Cash flows from financing activities: |
|
|
|
|
||||||||
|
|
|
|
|
|
||||||||
|
Payment of lease obligations |
|
(1,754 |
) |
|
(1,185 |
) |
|
(3,231 |
) |
|
(2,357 |
) |
|
Lease incentive received |
|
3,858 |
|
|
— |
|
|
3,858 |
|
|
— |
|
|
Proceeds from exercise of stock options |
|
516 |
|
|
2,304 |
|
|
7,693 |
|
|
4,564 |
|
|
|
|
2,620 |
|
|
1,119 |
|
|
8,320 |
|
|
2,207 |
|
|
|
|
|
|
|
||||||||
|
Increase in cash and cash equivalents |
|
9,769 |
|
|
3,632 |
|
|
28,155 |
|
|
20,128 |
|
|
|
|
|
|
|
||||||||
|
Cash and cash equivalents, beginning of period |
|
221,983 |
|
|
199,143 |
|
|
203,220 |
|
|
182,958 |
|
|
|
|
|
|
|
||||||||
|
Effects of exchange rates on cash and cash equivalents |
|
(3,890 |
) |
|
(4 |
) |
|
(3,513 |
) |
|
(315 |
) |
|
|
|
|
|
|
||||||||
|
Cash and cash equivalents, end of period |
$ |
227,862 |
|
$ |
202,771 |
|
$ |
227,862 |
|
$ |
202,771 |
|
SOURCE: Kinaxis Inc.
Investor Relations
Rick Wadsworth | Kinaxis
rwadsworth@kinaxis.com
613-907-7613
Media Relations
Jaime Cook | Kinaxis
jcook@kinaxis.com
289-552-4640