We have the answers to your questions about Descartes.
- When was Descartes founded?
- How many employees does Descartes have?
- Where is Descartes corporate head office located?
- What types of solutions does Descartes offer?
- Where are Descartes shares traded?
- When did Descartes begin trading on the stock exchanges?
- What have been Descartes’ recent acquisition activities?
- Can I buy shares directly from Descartes?
- When is Descartes’ Fiscal Year-end?
- How many Descartes’ shares are outstanding?
- What is Descartes’ official accounting currency?
- Has Descartes split its stock?
- How does Descartes generate revenue?
- How does Descartes recognize revenue?
- Who are Descartes’ auditors?
- How can I obtain a copy of Descartes’ Annual and Quarterly Reports?
- How can I obtain a copy of documents filed by Descartes with Canadian securities commissions and the Securities and Exchange Commission (SEC) in the U.S.?
- Who is Descartes’ transfer agent and how can I reach them?
- How do I obtain or modify information regarding my shareholder account? How can I transfer ownership of my shares?
- If my Descartes share certificate has been lost, stolen or destroyed, how do I arrange to replace it?
1. When was Descartes founded?
Descartes was founded in 1981.
2. How many employees does Descartes have?
Descartes currently has over 1,500 employees world wide. This number continues to grow as we expand further into the logistics market. For a full list of our current job openings visit our Careers page.
3. Where is Descartes corporate head office located?
Descartes’ headquarters are located at 120 Randall Drive, Waterloo, Ontario, N2V 1C6. See a list of Descartes' office locations worldwide.
4. What types of solutions does Descartes offer?
For detailed information on Descartes solution offerings, visit our Home Page and select the Solutions tab.
5. Where are Descartes shares traded?
Descartes’ shares are listed on the NASDAQ Stock Market (NASDAQ: DSGX) and the Toronto Stock Exchange (TSX: DSG).
6. When did Descartes begin trading on the stock exchanges?
Descartes began trading on the Toronto Stock Exchange in January 1998 and on the NASDAQ in June 1998.
7. What have been Descartes’ recent acquisition activities?
On February 2, 2018, acquired Aljex Software, Inc., a cloud-based provider of back-office transportation management solutions for freight brokers and transportation providers. Serving freight brokers and transportation providers for over 20 years, Aljex has built a robust platform backed by deep domain expertise. Used by nearly 400 customers in North America to plan and execute nearly 3 million freight moves per year, the Aljex solutions help customers automate business processes and create electronic documents critical for executing transportation moves. Customers can manage the lifecycle of a shipment from order creation through execution, including real-time tracking with connectivity to the Descartes MacroPoint network.
On June 25 2018, acquired US-based Velocity Mail, an electronic transportation network that provides global air carriers with mail and parcel shipment scanning and tracking solutions.
Velocity Mail has been connecting commercial airlines and their logistics partners with government postal authorities around the world for more than 15 years. Using Velocity Mail’s network, global air carriers leverage mobile devices to accurately track shipments and deliveries in real-time. Velocity Mail automates the entire shipment process from route generation to accounting reconciliation, simplifying operational processes for the air carriers, ground handlers and postal authorities.
On August 22, 2018, acquired PinPoint, a leading provider of fleet tracking and mobile workforce solutions based in Canada. PinPoint helps its customers collect real-time location information on trucks and mobile workers using technology, including Geotab (telematics) and SkyBitz (trailer tracking). This information is used by technology solutions, like Descartes’ Routing, Mobile & Telematics suite, to drive fleet and mobile resource productivity, manage driver performance and comply with government regulations.
On January 28, 2019, acquire the businesses run by the Management Systems Resources Inc. group of companies operating under the names “Visual Compliance,” “eCustoms” and “MSR” (collectively, “Visual Compliance”). Visual Compliance provides software solutions and services to automate customs, trade and fiscal compliance processes, with a focus on denied and restricted party screening processes and export licensing. Visual Compliance is based in Canada and serves over 2,000 customers with over 67,500 subscribers operating in over 100 countries.
On May 13, 2019, announced that it has acquired Core Transport Technologies NZ Limited (CORE), an electronic transportation network that provides global air carriers and ground handlers with shipment scanning and tracking solutions. CORE has been connecting commercial airlines, ground handlers and the wider logistics community with trading partners and government postal authorities around the world for more than 10 years. Customers use CORE’s network to accurately track international mail, parcel and cargo shipments as well as US domestic mail and parcel shipments. CORE’s solutions leverage mobile technologies and data analytics to help customers automate processes and increase operational efficiency.
On June 27, 2019, acquired STEPcom, a leading Business-to-Business (“B2B”) supply chain integration network based in SwitzerlandSTEPcom has connected trading partners to its B2B network for more than 15 years, helping supply chain participants connect, collaborate and seamlessly exchange electronic data. A community of more than 600 customers leverage the STEPcom suite of solutions to automate supply chain processes and streamline a wide array of complex, mission-critical documents found in typical procure-to-pay and order-to-cash processes. STEPcom also operates a GS1-certified, industry-independent data content pool where suppliers can share product master data with customers all around the world.
On August 21, 2019, acquired BestTransport, a cloud-based transportation management system (TMS) provider focused on flatbed-intensive manufacturers and distributors. BestTransport has been connecting shippers and carriers to streamline transportation processes for more than 15 years. Shipper and carrier customers leverage BestTransport’s platform to more efficiently manage numerous shipments each year across North America and Europe. The company offers a full TMS suite of solutions from contract rate management through to load building, shipment execution and freight payment, with extensive capabilities for flatbed transportation moves.
On February 24, 2020, acquired Peoplevox. Headquartered in the UK, Peoplevox serves direct-to-consumer e-commerce customers around the world. Peoplevox’s web-based eWMS and e-commerce fulfilment solutions help customers seamlessly connect to webshop front ends, translate order information into a mobile-driven pick and pack process within the warehouse and then feed parcel delivery systems for shipment execution. The company’s customers include direct-to-consumer brands, e-commerce retailers and traditional retailers with physical stores looking to enhance their online presence to meet the need for omnichannel deliveries to consumers.
On November 6, 2020, acquired Shiptrack,, a leading provider of ecommerce final-mile solutions. Headquartered in Canada, ShipTrack provides cloud-based mobile resource management and shipment tracking solutions. These solutions help customers automate dispatch, updates on shipment status and estimated time of arrival (ETA), and eliminate paper-based delivery processes. ShipTrack’s highly-configurable and scalable platform is particularly well-suited for the e-commerce home delivery, parcel and medical courier markets, helping these companies efficiently manage final-mile deliveries.
On March 3, 2021, acquired QuestaWeb, a leading provider of foreign trade zone (FTZ) and customs compliance solutions. Headquartered in the US, QuestaWeb provides cloud-based customs and regulatory compliance solutions. QuestaWeb’s market leading FTZ solution allows logistics services providers (LSPs) and importers to automate processes and comply with US Customs and Border Protection (CBP) regulatory requirements for operating a foreign trade zone in the US. The FTZ solution can be operated as a standalone module or as part of the company’s wider platform that helps importers and LSPs manage the lifecycle of shipments.
On May 10, 2021, acquired Portrix Logistics Software (Portrix), a leading provider of multimodal rate management solutions for logistics services providers (LSPs). Portrix has been helping its customers, which include some of the world’s largest LSPs, streamline and automate complex global shipping rate management processes for more than 10 years. The company’s core product, Global Price Management (GPM), is used by customers to enable global shipment routing, pricing, rating and capacity allocation management. Portrix’s solutions integrate with key systems that need fast, accurate, and complete shipping and pricing options, including CRM, transportation management, and customer-facing online booking platforms, such as Descartes Kontainers
On July 8, 2021, acquired Greenmile, a leading provider of cloud-based mobile route execution solutions for food, beverage, and broader distribution verticals. GreenMile’s highly scalable mobile route execution solutions have been built with unique capabilities to serve the global distribution industry. Customers benefit from a next-generation platform that incorporates machine-learning to continually improve service and travel time standards. GreenMile’s innovative solutions are used by some of the world’s largest food and beverage companies to digitize final-mile delivery processes, thereby eliminating paper from the supply chain, increasing efficiencies and improving customer satisfaction.
On February 10, 2022, acquired NetCHB, a leading provider of customs filing solutions in the US. NetCHB has been helping its customers streamline and automate customs filing processes in the US for more than 15 years. The company’s cloud-based platform is used by more than 700 customs brokers to connect to the US Customs and Border Protection (CBP) Automated Broker Interface (ABI) to electronically execute both fiscal customs declarations and security filings. More recently, the company has built on its success with traditional customs filings to capitalize on changes in the regulatory filing framework for Section 321 Type 86 ecommerce shipments. Section 321 Type 86 is a voluntary filing initiative for low-value ecommerce goods that CBP introduced in 2019 to streamline border crossing.
On April 21, 2022, acquired Foxtrot, a leading provider of machine learning-based mobile route execution solutions. Foxtrot’s advanced machine learning algorithms leverage millions of data points collected from vehicles in the field, helping customers reduce last-mile costs, improve customer service and learn service factors that improve route efficiency and on-time performance. The company’s technology complements existing route planning and execution solutions.
On June 6, 2022, acquired acquired XPS Technologies (XPS), a leading provider of ecommerce multi-carrier parcel shipping solutions. XPS provides its cloud-based multi-carrier parcel shipping solutions directly to small-, medium- and large-sized ecommerce shippers. It also provides a white-label shipping platform to logistics services providers. The XPS platform helps customers streamline their ecommerce supply chain and reduce transportation costs by automatically importing orders, comparing carrier rates, printing shipping labels for all major carriers, and tracking through final delivery. The XPS platform is even more powerful with its integrations to leading ecommerce marketplaces, ERP providers and supply chain platforms.
On January 6, 2023, acquired Supply Vision, a provider of shipment management solutions for North American Logistics Services Providers (LSPs). Supply Vision has a long history of helping LSPs digitize their operations and manage the lifecycle of shipments. Headquartered in the US, the company provides modular applications that help LSPs coordinate shipments, from quoting, routing and booking through to final delivery. The Supply Vision platform also integrates with real-time visibility solutions, such as Descartes MacroPointTM, to provide LSPs and their end customers with enhanced information about shipment status and location.
On February 14, 2023, acquired GroundCloud, a cloud-based provider of final-mile carrier solutions and road safety compliance tools. GroundCloud is a leader in final-mile logistics automation, combining operations, safety and compliance in an integrated platform. Final-mile carriers leverage the platform to receive customer delivery orders, plan and execute routes against those orders, train and monitor drivers on safety and performance, manage assets and resources, and analyze the operating efficiency of their business. GroundCloud’s platform also incorporates video telematics to provide driving event detection and verification, combined with reactive coaching solutions designed to improve safety.
On April 20, 2023, acquired acquired the assets of Localz, a technology platform to help engage with customers on the day they’re having goods or services delivered.The Localz platform combines real-time vehicle location tracking and communications to deliver safe, transparent, customer-centric SaaS solutions that transform the customer delivery experience. End customers can schedule services and deliveries through an online portal, and then follow the progress of their order in real-time with advanced notifications built-in.
On March 28, 2024, acquired the assets of OCR, a leading provider of global trade compliance solutions and content. OCR specializes in solutions and content for export compliance and controlled commodities, helping customers streamline and automate processes around denied party screening, license procurement / management, and product classification. Their core platform, GlobalEASE, is used by blue-chip, multinational organizations around the world to stay current in a rapidly changing regulatory environment. Similar to Descartes, OCR monitors regulatory sources and updates their trade data content libraries daily. OCR’s controlled exports data expands Descartes’ extensive global trade content library for customers and partners, such as SAP and Oracle.
On April 22, 2024, acquired Aerospace Software Developments (“ASD”), a leading provider of customs and regulatory compliance solutions. Based in Ireland, ASD provides customs declaration software solutions for logistics services providers (“LSPs”) and shippers, as well as RFID solutions that help the air logistics community track assets. The company’s customs filing solutions, operating under the brand Thyme-IT, help importers, exporters, and LSPs comply with Irish regulatory requirements for imports and exports in a secure and efficient manner. In addition, ASD’s RFID solutions help global airlines and ground handlers eliminate manual tasks and comply with various airline regulations more efficiently through the unique identification, tagging, and tracking of assets.
On June 11, 2024, acquired BoxTop Technologies Limited (“BoxTop”), a leading provider of shipment management solutions for small- to mid-sized logistics services providers (“LSPs”).Based in the UK, BoxTop helps LSPs digitize their operations and connect to the wider logistics community to manage the lifecycle of shipments. LSPs use the BoxTop platform to manage the secure and efficient movement of goods from quoting through to routing, booking, and final delivery. BoxTop is an existing Descartes partner, leveraging the Descartes Global Logistics Network (“GLN”) to help their clients gain visibility into shipments across multiple modes of transportation and to complete electronic customs filings.
On September 18, 2024, acquired MyCarrierPortal
MyCarrierPortal (“MCP”), a leading provider of carrier onboarding and risk monitoring solutions for the trucking industry.
Based in the US, MCP’s solutions help freight brokers and shippers quickly set up carrier requirements through an onboarding platform that gathers information on carriers and screens them for suitability to deliver loads/shipments based on the broker’s risk and compliance criteria. Truck carriers are screened for legitimacy, insurance compliance, and an acceptable safety record. Carriers that are onboarded to the platform are monitored on an ongoing basis to help ensure continued compliance. If a carrier falls out of compliance, the customer is notified to take appropriate action with that carrier.
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8. Can I buy shares directly from Descartes?
Descartes does not sell shares directly. Please contact your broker to purchase shares.
9. When is Descartes’ Fiscal Year-end?
Descartes fiscal year commences on February 1st of each year and ends on January 31st of the following year.
10. How many Descartes’ shares are outstanding?
The number of shares outstanding can be found in the Descartes’ annual and quarterly reports. You can obtain a copy on the Descartes corporate website by accessing our Financial Information page.
As of Descartes’ last fiscal year-end, January 31, 2020, there were 84,156,316 common shares issued and outstanding.
11. What is Descartes’ official accounting currency?
Descartes reports its financial results in accordance with US Generally Accepted Accounting Principles (GAAP) and in US dollars.
12. Has Descartes split its stock?
No.
13. How does Descartes generate revenue?
Descartes’ revenues consist of services revenues and license revenues. Services revenues are principally comprised of the following: (i) ongoing transactional fees for use of our services and products by our customers, which are recognized as the transactions occur; (ii) professional services revenues from consulting, implementation and training services related to our services and products, which are recognized as the services are performed; and (iii) maintenance, subscription and other related revenues, which include revenues associated with maintenance and support of our services and products, which are recognized ratably over the subscription period. License revenues derive from licenses granted to our customers to use our software products.
14. How does Descartes recognize revenue?
Details on Descartes’ revenue recognition policy and other critical accounting policies can be viewed in the most recent copy of Descartes’ Annual Report.
15. Who are Descartes’ auditors?
KPMG LLP.
16. How can I obtain a copy of Descartes’ Annual and Quarterly Reports?
Please contact Descartes Corporate Secretary at investor@descartes.com, or by phone at: (519) 746-6114 Ext: 202358 or by fax at: (519) 747-7037.
You can also download or view a copy of our reports on our Financial Information page.
17. How can I obtain a copy of documents filed by Descartes with Canadian securities commissions and the Securities and Exchange Commission (SEC) in the U.S.?
Documents are available on the Securities and Exchange Commission (SEC) website for U.S. business and on the System for Electronic Document Analysis and Retrieval (SEDAR) website for Canada.
Documents can also be obtained by contacting Descartes Corporate Secretary at investor@descartes.com, or by phone at: (519) 746-6114 ext: 202358 or by fax at: (519) 747-7037.
18. Who is Descartes’ transfer agent and how can I reach them?
Computershare Investor Services Inc. is Descartes’ transfer agent and can be reached as follows:
Computershare Investor Services Inc.
100 University Avenue
Toronto, Ontario M5J 2Y1
North America: (800) 663-9097
International: (416) 263-9200
Computershare Trust Company
12039 West Alameda Parkway
Suite Z-2
Lakewood, Colorado 80228
International: (303) 262-0600
19. How do I obtain or modify information regarding my shareholder account? How can I transfer ownership of my shares?
Please contact the following transfer agents:
Computershare Investor Services Inc.
100 University Avenue
Toronto, Ontario M5J 2Y1
North America: (800) 663-9097
International: (416) 263-9200
Computershare Trust Company
12039 West Alameda Parkway
Suite Z-2
Lakewood, Colorado 80228
International: (303) 262-0600
20. If my Descartes share certificate has been lost, stolen or destroyed, how do I arrange to replace it?
Please contact the following transfer agents:
Computershare Investor Services Inc.
100 University Avenue
Toronto, Ontario M5J 2Y1
North America: (800) 663-9097
International: (416) 263-9200
Computershare Trust Company
12039 West Alameda Parkway
Suite Z-2
Lakewood, Colorado 80228
International: (303) 262-0600