Exhibit 99.2

DESCARTES ANNOUNCES FISCAL 2019 THIRD QUARTER FINANCIAL RESULTS

Global Logistics Network Drives Record Revenues and Income from Operations

WATERLOO, Ontario — November 28, 2018 — The Descartes Systems Group Inc. (TSX:DSG) (Nasdaq:DSGX) announced its financial results for its fiscal 2019 third quarter (Q3FY19) ended October 31, 2018. All financial results referenced are in United States (US) currency and, unless otherwise indicated, are determined in accordance with US Generally Accepted Accounting Principles (GAAP).

“Logistics is a multi-party, multi-process problem, and it’s becoming increasingly complex with today’s dynamic global trade landscape,” said Edward J. Ryan, Descartes’ CEO. “We believe that customers are looking for one place to collaborate with their supply chain and manage the lifecycle of shipments. We believe that place is our Global Logistics Network (GLN), which continues to gain momentum as we add participants, solutions and content for key constituents in the supply chain, including shippers, carriers, logistics intermediaries and government agencies. The GLN is a stable, reliable and trusted platform that we believe is poised for further growth as it continues to deliver incremental value to the supply chain community.”

Q3FY19 Financial Results

As described in more detail below, key financial highlights for Q3FY19 included:

•

Revenues of $70.0 million, up 13% from $62.0 million in the third quarter of fiscal 2019 (Q3FY18) and up 4% from $67.1 million in the previous quarter (Q2FY19);

•

Revenues were comprised of services revenues of $61.1 million (87% of total revenues), professional services and other revenues of $7.3 million (11% of total revenues) and license revenues of $1.6 million (2% of total revenues). Services revenues were up 15% from $53.3 million in Q3FY18 and up 2% from $59.7 million in Q2FY19;

•

Cash provided by operating activities of $19.2 million, up 2% from $18.9 million in Q3FY18 and up 5% from $18.2 million in Q2FY19;

•

Income from operations of $10.8 million, up 29% from $8.4 million in Q3FY18 and up 7% from $10.1 million in Q2FY19;

•

Net income of $7.9 million, up 27% from $6.2 million in Q3FY18 and down from $8.5 million in Q2FY19. Net income in Q2FY19 benefited from a non-recurring tax recovery of approximately $1.0 million. Net income as a percentage of revenues was 11%, compared to 10% in Q3FY18 and 13% in Q2FY19;

•

Earnings per share on a diluted basis of $0.10, up 25% from $0.08 in Q3FY18 and compared to $0.11 in Q2FY19; and

•

Adjusted EBITDA of $24.0 million, up 17% from $20.6 million in Q3FY18 and up 5% from $22.8 million in Q2FY19. Adjusted EBITDA as a percentage of revenues was 34%, compared to 33% in Q3FY18 and 34% in Q2FY19.

Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures provided as a complement to financial results presented in accordance with GAAP. We define Adjusted EBITDA as earnings before interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges and acquisition-related expenses). These items are considered by management to be outside Descartes’ ongoing operational results. We define Adjusted EBITDA as a percentage of revenues as the quotient, expressed as a percentage, from dividing Adjusted EBITDA for a period by revenues for the corresponding period. A reconciliation of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income determined in accordance with GAAP is provided later in this release.

The following table summarizes Descartes' results in the categories specified below over the past 5 fiscal quarters (unaudited; dollar amounts, other than per share amounts, in millions):

	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18
Revenues	70.0	67.1	67.0	63.6	62.0
Services revenues	61.1	59.7	57.8	55.0	53.3
Gross margin	73%	73%	72%	73%	73%
Cash provided by operating activities	19.2	18.2	18.9	19.6	18.9
Income from operations	10.8	10.1	9.8	8.9	8.4
Net income	7.9	8.5	7.0	6.7	6.2
Net income as a % of revenues	11%	13%	10%	11%	10%
Earnings per diluted share	0.10	0.11	0.09	0.09	0.08
Adjusted EBITDA	24.0	22.8	22.1	21.4	20.6
Adjusted EBITDA as a % of revenues	34%	34%	33%	34%	33%

Year-to-Date Financial Results

As described in more detail below, key financial highlights for Descartes’ nine-month period ended October 31, 2018 (9MFY19) included:

•

Revenues of $204.1 million, up 17% from $173.8 million in the same period a year ago (9MFY18);

•

Revenues were comprised of services revenues of $178.6 million (88% of total revenues), professional services and other revenues of $20.7 million (10% of total revenues) and license revenues of $4.8 million (2% of total revenues). Services revenues were up 20% from $149.4 million in 9MFY18;

•

Cash provided by operating activities of $56.3 million, up 7% from $52.5 million in 9MFY18;

•

Income from operations of $30.7 million, up 14% from $26.9 million in 9MFY18;

•

Net income of $23.4 million, up 16% from $20.2 million in 9MFY18. Net income as a percentage of revenues was 11%, compared to 12% in 9MFY18;

•

Earnings per share on a diluted basis of $0.30, up 15% from $0.26 in 9MFY18; and

•

Adjusted EBITDA of $68.9 million, up 16% from $59.4 million in 9MFY18. Adjusted EBITDA as a percentage of revenues was 34%, compared to 34% in 9MFY18.

The following table summarizes Descartes’ results in the categories specified below over 9MFY19 and 9MFY18 (unaudited, dollar amounts in millions):

	9MFY19	9MFY18
Revenues	204.1	173.8
Services revenues	178.6	149.4
Gross margin	73%	73%
Cash provided by operating activities	56.3	52.5
Income from operations	30.7	26.9
Net income	23.4	20.2
Net income as a % of revenues	11%	12%
Earnings per diluted share	0.30	0.26
Adjusted EBITDA	68.9	59.4
Adjusted EBITDA as a % of revenues	34%	34%

Cash Position

At October 31, 2018, Descartes had $32.8 million in cash. Cash decreased $1.3 million in Q3FY19 and $2.3 million in 9MFY19 primarily due to credit facility repayments partially offset by cash provided from operations. The table set forth below provides a summary of cash flows for Q3FY19 and 9MFY19 in millions of dollars:

	Q3FY19			9MFY19
Cash provided by operating activities		19.2			56.3
Additions to property and equipment		(1.1	)		(3.1	)
Acquisitions of subsidiaries, net of cash acquired		(9.4	)		(67.9	)
Proceeds from borrowing on credit facility		9.9			68.5
Credit facility repayments		(18.0	)		(53.5	)
Issuances of common shares, net of issuance costs		-			0.4
Payment of contingent consideration		(1.5	)		(1.5	)
Effect of foreign exchange rate on cash		(0.4	)		(1.5	)
Net change in cash		(1.3	)		(2.3	)
Cash, beginning of period		34.1			35.1
Cash, end of period		32.8			32.8

Acquisition of Pinpoint

On August 21, 2018, Descartes acquired PinPoint GPS Solutions Inc. (PinPoint), a provider of fleet tracking and mobile workforce solutions. Canada-based PinPoint helps customers collect real-time location information on trucks and mobile workers using technology, including Geotab (telematics) and SkyBitz (trailer tracking). The purchase price for the acquisition was approximately $11.0 million (CAD $14.4 million), net of cash acquired, which was funded from a combination of drawing on Descartes’ existing credit facility and issuing to the sellers less than 0.1 million Descartes common shares from treasury. Additional contingent consideration of up to $2.3 million (CAD $3.0 million) in cash is payable if certain revenue performance targets are met by PinPoint in the two years following the acquisition. The fair value of the contingent consideration was valued at $0.7 million at the acquisition date.

Conference Call

Members of Descartes' executive management team will host a conference call to discuss the company's financial results today at 5:00 p.m. ET, Wednesday, November 28. Designated numbers are +1 888 465-5079 for North America and +1 416 216-4169 for international, using Passcode 6867578#.

The company will simultaneously conduct an audio webcast on the Descartes Web site at www.descartes.com/descartes/investor-relations. Phone conference dial-in or webcast log-in is required approximately 10 minutes beforehand.

Replays of the conference call will be available following the call from 8:00 p.m. ET, and until December 5, 2018, by dialing +1 888 843-7419 or +1 630 652-3042 followed by Passcode 6867578#. An archived replay of the webcast will be available at www.descartes.com/descartes/investor-relations.

About Descartes

Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

# # #

Descartes Investor Contact:

Laurie McCauley +1-519-746-6114 x202358

investor@descartes.com

Safe Harbor Statement

This release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relates to Descartes' growth in margins; continued growth and acquisitions; rate of profitable growth; demand for Descartes' solutions; growth of Descartes' Global Logistics Network; customer buying patterns; customer expectations of Descartes; development of the GLN and the benefits thereof to customers; and other matters. These forward-looking statements are based on certain assumptions including the following: global shipment volumes continuing to increase at levels consistent with the average growth rates of the global economy; countries continuing to implement and enforce existing and additional customs and security regulations relating to the provision of electronic information for imports and exports; countries continuing to implement and enforce existing and additional trade restrictions and sanctioned party lists with respect to doing business with certain countries, organizations, entities and individuals; Descartes' continued operation of a secure and reliable business network; the stability of general economic and market conditions, currency exchange rates, and interest rates; equity and debt markets continuing to provide Descartes with access to capital; Descartes' continued ability to identify and source attractive and executable business combination opportunities; Descartes' ability to develop solutions that keep pace with the continuing changes in technology, and our continued compliance with third party intellectual property rights. These assumptions may prove to be inaccurate. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Descartes, or developments in Descartes' business or industry, to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, Descartes' ability to successfully execute on acquisitions and to integrate acquired businesses and assets, and to predict expenses

associated with and revenues from acquisitions; the ability to attract and retain key personnel and the ability to manage the departure of key personnel and the transition of our executive management team; changes in trade or transportation regulations that currently require customers to use services such as those offered by Descartes; the impact on Descartes' business of a global economic downturn; changes in customer behaviour and expectations; Descartes’ ability to successfully design and develop enhancements to our products and solutions; departures of key customers; the impact of foreign currency exchange rates; Descartes' ability to retain or obtain sufficient capital in addition to its debt facility to execute on its business strategy, including its acquisition strategy; disruptions in the movement of freight; the potential for future goodwill or intangible asset impairment as a result of other-than-temporary decreases in Descartes' market capitalization; and other factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada, including Descartes' most recently filed Management's Discussion and Analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Reconciliation of Non-GAAP Financial Measures - Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues

We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with GAAP. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with GAAP. We believe that current shareholders and potential investors in our company use non-GAAP financial measures, such as Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues, in making investment decisions about our company and measuring our operational results.

The term “Adjusted EBITDA” refers to a financial measure that we define as earnings before certain charges that management considers to be non-operating expenses and which consist of interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges and acquisition-related expenses). Adjusted EBITDA as a percentage of revenues divides Adjusted EBITDA for a period by the revenues for the corresponding period and expresses the quotient as a percentage.

Management considers these non-operating expenses to be outside the scope of Descartes’ ongoing operations and the related expenses are not used by management to measure operations. Accordingly, these expenses are excluded from Adjusted EBITDA, which we reference to both measure our operations and as a basis of comparison of our operations from period-to-period. Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA financial metric to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. However, Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues should

not be construed as a substitute for net income determined in accordance with GAAP or other non-GAAP measures that may be used by other companies, such as EBITDA. The use of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues does have limitations. In particular, we have completed six acquisitions since the beginning of fiscal 2018 and may complete additional acquisitions in the future that will result in acquisition-related expenses and restructuring charges. As these acquisition-related expenses and restructuring charges may continue as we pursue our consolidation strategy, some investors may consider these charges and expenses as a recurring part of operations rather than expenses that are not part of operations.

The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for Q3FY19, Q2FY19, Q1FY19, Q4FY18 and Q3FY18, which we believe is the most directly comparable GAAP measure.

(US dollars in millions)	Q3FY19			Q2FY19			Q1FY19			Q4FY18			Q3FY18
Net income, as reported on Consolidated Statements of Operations		7.9			8.5			7.0			6.7			6.2
Adjustments to reconcile to Adjusted EBITDA:
Interest expense		0.6			0.5			0.6			0.4			0.5
Investment income		-			-			(0.1	)		(0.1	)		(0.1	)
Income tax expense		2.3			1.2			2.3			1.9			1.8
Depreciation expense		1.1			1.0			0.9			1.3			1.1
Amortization of intangible assets		10.4			10.0			9.5			9.1			8.9
Stock-based compensation and related taxes		1.2			1.0			0.8			1.1			0.8
Other charges		0.5			0.6			1.1			1.0			1.4
Adjusted EBITDA		24.0			22.8			22.1			21.4			20.6

Revenues		70.0			67.1			67.0			63.6			62.0
Net income as % of revenues		11	%		13	%		10	%		11	%		10	%
Adjusted EBITDA as % of revenues		34	%		34	%		33	%		34	%		33	%

The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for 9MFY19 and 9MFY18, which we believe is the most directly comparable GAAP measure.

(US dollars in millions)	9MFY19			9MFY18
Net income, as reported on Consolidated Statements of Operations		23.4			20.2
Adjustments to reconcile to Adjusted EBITDA:
Interest expense		1.6			0.8
Investment income		(0.1	)		(0.1	)
Income tax expense		5.9			6.1
Depreciation expense		3.0			2.8
Amortization of intangible assets		29.9			24.4
Stock-based compensation and related taxes		3.0			2.2
Other charges		2.2			3.0
Adjusted EBITDA		68.9			59.4

Revenues		204.1			173.8
Net income as % of revenues		11	%		12	%
Adjusted EBITDA as % of revenues		34	%		34	%

The Descartes Systems Group Inc.

Condensed Consolidated Balance Sheets

(US dollars in thousands; US GAAP; Unaudited)

	October 31,			January 31,
	2018			2018 (Audited)
ASSETS
CURRENT ASSETS
Cash		32,760			35,145
Accounts receivable (net)
Trade		30,961			28,792
Other		3,748			3,171
Prepaid expenses and other		7,792			7,621
Inventory		101			123
		75,362			74,852
OTHER LONG-TERM ASSETS		10,351			3,966
PROPERTY AND EQUIPMENT, NET		12,764			12,798
DEFERRED INCOME TAXES		3,675			4,660
DEFERRED TAX CHARGE		-			453
INTANGIBLE ASSETS, NET		185,767			178,001
GOODWILL		377,229			350,148
		665,148			624,878
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable		10,443			7,897
Accrued liabilities		27,416			25,538
Income taxes payable		1,931			3,270
Deferred revenue		28,321			30,985
		68,111			67,690
LONG-TERM DEBT		50,590			37,000
LONG-TERM DEFERRED REVENUE		1,469			1,128
LONG-TERM INCOME TAXES PAYABLE		7,773			8,663
DEFERRED INCOME TAXES		14,512			11,585
		142,455			126,066

SHAREHOLDERS’ EQUITY
Common shares – unlimited shares authorized; Shares issued and outstanding totaled 76,864,566 at October 31, 2018 (January 31, 2018 – 76,773,497)		276,746			274,536
Additional paid-in capital		453,749			451,151
Accumulated other comprehensive loss		(27,143	)		(15,252	)
Accumulated deficit		(180,659	)		(211,623	)
		522,693			498,812
		665,148			624,878

The Descartes Systems Group Inc.

Consolidated Statements of Operations

(US dollars in thousands, except per share and weighted average share amounts; US GAAP; Unaudited)

	Three Months Ended						Nine Months Ended
	October 31,			October 31,			October 31,			October 31,
	2018			2017			2018			2017

REVENUES		70,008			62,001			204,141			173,808
COST OF REVENUES		19,150			16,843			55,695			46,572
GROSS MARGIN		50,858			45,158			148,446			127,236
EXPENSES
Sales and marketing		9,312			9,000			27,776			23,836
Research and development		11,901			10,890			35,708			30,383
General and administrative		7,931			6,560			22,015			18,678
Other charges		529			1,430			2,250			3,019
Amortization of intangible assets		10,354			8,900			29,909			24,366
		40,027			36,780			117,658			100,282
INCOME FROM OPERATIONS		10,831			8,378			30,788			26,954
INTEREST EXPENSE		(613	)		(497	)		(1,678	)		(861	)
INVESTMENT INCOME		40			53			140			111
INCOME BEFORE INCOME TAXES		10,258			7,934			29,250			26,204
INCOME TAX EXPENSE
Current		1,641			1,282			4,727			4,680
Deferred		716			482			1,138			1,310
		2,357			1,764			5,865			5,990
NET INCOME		7,901			6,170			23,385			20,214
EARNINGS PER SHARE
Basic		0.10			0.08			0.30			0.27
Diluted		0.10			0.08			0.30			0.26
WEIGHTED AVERAGE SHARES OUTSTANDING (thousands)
Basic		76,854			76,630			76,821			76,173
Diluted		77,863			77,442			77,767			76,942

The Descartes Systems Group Inc.

Condensed Consolidated Statements of Cash Flows

(US dollars in thousands; US GAAP; Unaudited)

	Three Months Ended						Nine Months Ended
	October 31,			October 31,			October 31,			October 31,
	2018			2017			2018			2017
OPERATING ACTIVITIES
Net income		7,901			6,170			23,385			20,214
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation		1,098			1,083			3,019			2,828
Amortization of intangible assets		10,354			8,900			29,909			24,366
Stock-based compensation expense		1,002			768			2,736			2,035
Other non-cash operating activities		(269	)		(106	)		(339	)		(716	)
Deferred tax expense		716			482			1,138			1,310
Deferred tax charge		(49	)		(72	)		(49	)		12
Changes in operating assets and liabilities:
Accounts receivable
Trade		260			1,764			(780	)		1,189
Other		539			481			120			310
Prepaid expenses and other		(28	)		(1,267	)		(2,278	)		(1,387	)
Inventory		17			(5	)		67			(21	)
Accounts payable		1,216			(1,508	)		3,588			791
Accrued liabilities		451			1,407			805			(1,753	)
Income taxes payable		(357	)		1,230			(1,953	)		2,569
Deferred revenue		(3,631	)		(389	)		(3,056	)		759
Cash provided by operating activities		19,220			18,938			56,312			52,506
INVESTING ACTIVITIES
Additions to property and equipment		(1,131	)		(2,209	)		(3,078	)		(3,878	)
Acquisition of subsidiaries, net of cash acquired		(9,443	)		(86,177	)		(67,932	)		(111,867	)
Cash used in investing activities		(10,574	)		(88,386	)		(71,010	)		(115,745	)
FINANCING ACTIVITIES
Proceeds from borrowing on the credit facility		9,953			40,000			68,468			80,000
Credit facility repayments		(17,956	)		(25,000	)		(53,493	)		(25,000	)
Issuance of common shares for cash, net of issuance costs		(27	)		534			338			1,003
Payment of contingent consideration		(1,531	)		-			(1,531	)		-
Cash (used in) provided by financing activities		(9,561	)		15,534			13,782			56,003
Effect of foreign exchange rate changes on cash		(393	)		(325	)		(1,469	)		2,389
Decrease in cash		(1,308	)		(54,239	)		(2,385	)		(4,847	)
Cash, beginning of period		34,068			87,527			35,145			38,135
Cash, end of period		32,760			33,288			32,760			33,288