Kinaxis Inc. Reports First Quarter 2021 Results
OTTAWA, ON, May 4, 2021 /CNW/ - Kinaxis® (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, today reported results for its first quarter. All amounts are in U.S. dollars. All figures are prepared in accordance with International Financial Reporting Standards (IFRS) unless otherwise indicated.
"We're pleased with the results of our first quarter, which represent a good initial step towards achieving our outlook for the year. While COVID-related delays are not fully behind us, the environment for booking new business has shown continued signs of improvement. We won a record number of new customers for a first quarter, which together with project expansions, resulted in record first quarter incremental subscription bookings. Overall, we continue to see a heightened level of interest from companies looking to drive hyper-agility in their supply chain," said John Sicard, President and CEO of Kinaxis.
Q1 2021 Highlights
Financial Guidance and Outlook
Based on this backlog and the current outlook, Kinaxis is reiterating its fiscal 2021 financial guidance, as follows:
Beyond 2021, and assuming more typical business and market conditions, the company continues to believe that annual SaaS revenue growth of 23-25% is achievable in the mid-term.
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 March 31, 2021 are available on Kinaxis' website and on SEDAR at www.sedar.com.
About Kinaxis Inc.
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 2021 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 guidance and commentary for achievement of contracted revenue in future periods, including in 2021, 2022 and 2023 and later, is based on assumptions and associated risks including:
Our guidance and commentary for annual SaaS revenue growth beyond 2021 is based on assumptions and associated risks including normalization of macroeconomic factors, including business and market conditions, relative to recent conditions that have been affected by the COVID-19 pandemic. 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 3, 2021, under the heading "Risk Factors" in our Annual Information Form dated March 25, 2021 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
(Expressed in thousands of USD)
For the three months ended
For the three months ended March 31, 2021 and 2020
For the three months ended
SOURCE Kinaxis Inc.
How to use Asset Tracking to Enable The Smart Supply Chain: Fireside Chat w/ NimbeLink and Smart Logistics
Grand Opening Reception in Exhibit Hall