Kinaxis (KXS) Q4 2025 earnings summary

Executive summary

• Achieved record-setting Q4 and FY 2025 results, with SaaS revenue and ARR growth exceeding guidance and historical highs, driven by strong new business wins and expansion in large enterprise customers.

• Significant wins in key verticals such as semiconductor, oil & gas, aerospace, consumer goods, and data storage, with ~85% of year-end ARR from life sciences, high-tech, consumer products, and industrial manufacturing.

• Launched Maestro Agent Studio, advancing AI-powered supply chain orchestration and introducing a new usage-based pricing model reflecting increased AI adoption.

• Leadership transition announced, with CFO Blaine Fitzgerald departing after a strong tenure.

• Expanded relationships with existing customers, leveraging enhanced platform capabilities.

Financial highlights

• Q4 2025 total revenue reached $144.2M, up 16% year-over-year; SaaS revenue grew 19% to $97.2M.

• FY 2025 total revenue increased 13% to $548M; SaaS revenue up 17% to $362.4M.

• Adjusted EBITDA for FY 2025 grew 30% to $138.4M (margin 25%); Q4 Adjusted EBITDA margin was 26%.

• ARR grew 20% year-over-year, adding $73M in 2025, with $26M in Q4 alone; ARR at Q4 end was $433M.

• Q4 gross margin improved to 65% from 61% year-over-year; FY gross profit reached $354.3M.

• Q4 net profit was $19.5M (vs. $-16.3M prior year); FY net profit $70.7M (vs. $0.06M prior year).

Outlook and guidance

• FY 2026 revenue guidance: $620–635M; SaaS revenue growth expected at 17–19%.

• Adjusted EBITDA margin guided at 25–26%, set as a new floor for future years.

• Professional services revenue to grow low single digits; maintenance/support revenue flat to slightly down.

• R&D expenses to grow in the high 20% range, with increased investment in AI and go-to-market initiatives.

• Management expects continued SaaS growth and profitability, supported by strong ARR momentum and investments in AI and go-to-market capabilities.