2023-07-31--01-31Q20001050140false202400010501402023-02-012023-07-310001050140dsgx:NcibMember2022-06-070001050140us-gaap:CommonStockMember2023-05-012023-07-310001050140us-gaap:CommonStockMember2023-02-012023-07-310001050140us-gaap:CommonStockMember2022-05-012022-07-310001050140us-gaap:CommonStockMember2022-02-012022-07-310001050140us-gaap:RetainedEarningsMember2023-07-310001050140us-gaap:CommonStockMember2023-07-310001050140us-gaap:AdditionalPaidInCapitalMember2023-07-310001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-310001050140us-gaap:RetainedEarningsMember2023-04-300001050140us-gaap:CommonStockMember2023-04-300001050140us-gaap:AdditionalPaidInCapitalMember2023-04-300001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-300001050140us-gaap:RetainedEarningsMember2023-01-310001050140us-gaap:CommonStockMember2023-01-310001050140us-gaap:AdditionalPaidInCapitalMember2023-01-310001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-310001050140us-gaap:RetainedEarningsMember2022-07-310001050140us-gaap:CommonStockMember2022-07-310001050140us-gaap:AdditionalPaidInCapitalMember2022-07-310001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-310001050140us-gaap:RetainedEarningsMember2022-04-300001050140us-gaap:CommonStockMember2022-04-300001050140us-gaap:AdditionalPaidInCapitalMember2022-04-300001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-300001050140us-gaap:RetainedEarningsMember2022-01-310001050140us-gaap:CommonStockMember2022-01-310001050140us-gaap:AdditionalPaidInCapitalMember2022-01-310001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-310001050140us-gaap:RestrictedStockUnitsRSUMember2023-05-012023-07-310001050140dsgx:ShareholderApprovedStockOptionsPlanMember2023-07-310001050140us-gaap:PerformanceSharesMember2023-05-012023-07-310001050140us-gaap:RestrictedStockUnitsRSUMember2022-02-012023-01-310001050140us-gaap:PerformanceSharesMember2022-02-012023-01-310001050140us-gaap:RestrictedStockUnitsRSUMember2023-01-310001050140us-gaap:PerformanceSharesMember2023-01-3100010501402025-01-312023-07-310001050140us-gaap:ServiceMember2023-05-012023-07-310001050140us-gaap:LicenseMember2023-05-012023-07-310001050140us-gaap:EMEAMember2023-05-012023-07-310001050140srt:AsiaPacificMember2023-05-012023-07-310001050140dsgx:ProfessionalServicesAndOtherMember2023-05-012023-07-310001050140country:US2023-05-012023-07-310001050140country:CA2023-05-012023-07-310001050140us-gaap:ServiceMember2023-02-012023-07-310001050140us-gaap:LicenseMember2023-02-012023-07-310001050140us-gaap:EMEAMember2023-02-012023-07-310001050140srt:AsiaPacificMember2023-02-012023-07-310001050140dsgx:ProfessionalServicesAndOtherMember2023-02-012023-07-310001050140country:US2023-02-012023-07-310001050140country:CA2023-02-012023-07-310001050140us-gaap:ServiceMember2022-05-012022-07-310001050140us-gaap:LicenseMember2022-05-012022-07-310001050140us-gaap:EMEAMember2022-05-012022-07-310001050140srt:AsiaPacificMember2022-05-012022-07-310001050140dsgx:ProfessionalServicesAndOtherMember2022-05-012022-07-310001050140country:US2022-05-012022-07-310001050140country:CA2022-05-012022-07-310001050140us-gaap:ServiceMember2022-02-012022-07-310001050140us-gaap:LicenseMember2022-02-012022-07-310001050140us-gaap:EMEAMember2022-02-012022-07-310001050140srt:AsiaPacificMember2022-02-012022-07-310001050140dsgx:ProfessionalServicesAndOtherMember2022-02-012022-07-310001050140country:US2022-02-012022-07-310001050140country:CA2022-02-012022-07-310001050140us-gaap:AssetUnderConstructionMember2023-07-310001050140us-gaap:AssetUnderConstructionMember2023-01-310001050140dsgx:LocalzPtyLtdMember2023-04-202023-04-200001050140dsgx:FoxtrotMember2022-04-212022-04-210001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-05-012023-07-310001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-02-012023-07-310001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-05-012022-07-310001050140us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-02-012022-07-310001050140us-gaap:EMEAMember2023-07-310001050140srt:AsiaPacificMember2023-07-310001050140country:US2023-07-310001050140country:CA2023-07-310001050140us-gaap:EMEAMember2022-07-310001050140srt:AsiaPacificMember2022-07-310001050140country:US2022-07-310001050140country:CA2022-07-310001050140us-gaap:RetainedEarningsMember2023-05-012023-07-310001050140us-gaap:RetainedEarningsMember2023-02-012023-07-310001050140us-gaap:RetainedEarningsMember2022-05-012022-07-310001050140us-gaap:RetainedEarningsMember2022-02-012022-07-310001050140srt:MinimumMemberdsgx:SeniorSecuredCreditFacilityMember2023-02-012023-07-310001050140srt:MaximumMemberdsgx:SeniorSecuredCreditFacilityMember2023-02-012023-07-310001050140srt:MinimumMemberdsgx:RevolvingOperatingCreditFacilityMemberdsgx:SeniorSecuredCreditFacilityMember2023-07-310001050140srt:MaximumMemberdsgx:RevolvingOperatingCreditFacilityMemberdsgx:SeniorSecuredCreditFacilityMember2023-07-310001050140dsgx:RevolvingOperatingCreditFacilityMemberdsgx:SeniorSecuredCreditFacilityMember2023-07-310001050140us-gaap:EmployeeStockOptionMember2023-05-012023-07-310001050140dsgx:PSUsAndRSUsMember2023-05-012023-07-310001050140dsgx:PSUsAndRSUsMember2023-02-012023-07-310001050140us-gaap:EmployeeStockOptionMember2022-05-012022-07-310001050140dsgx:PSUsAndRSUsMember2022-05-012022-07-310001050140us-gaap:EmployeeStockOptionMember2022-02-012022-07-310001050140dsgx:PSUsAndRSUsMember2022-02-012022-07-310001050140dsgx:XpsMember2022-02-012023-01-310001050140dsgx:SupplyVisionMember2022-02-012023-01-310001050140dsgx:NetChbLlcMember2022-02-012023-01-310001050140dsgx:FoxtrotMember2022-02-012023-01-310001050140us-gaap:DevelopedTechnologyRightsMember2023-07-310001050140us-gaap:TradeNamesMember2023-01-310001050140us-gaap:NoncompeteAgreementsMember2023-01-310001050140us-gaap:DevelopedTechnologyRightsMember2023-01-310001050140us-gaap:CustomerRelationshipsMember2023-01-310001050140us-gaap:EmployeeStockOptionMember2023-02-012023-07-310001050140us-gaap:EmployeeStockOptionMember2023-07-310001050140us-gaap:FairValueInputsLevel2Member2023-07-310001050140us-gaap:FairValueInputsLevel2Member2023-01-310001050140dsgx:CashSettledRestrictedShareUnitMember2023-07-310001050140dsgx:CashSettledRestrictedShareUnitMember2023-01-310001050140dsgx:RevolvingOperatingCreditFacilityMemberdsgx:SeniorSecuredCreditFacilityMember2023-02-012023-07-310001050140srt:MinimumMemberdsgx:SeniorSecuredCreditFacilityMemberdsgx:CanadaOrUsPrimeRateBaOrLiborMember2023-02-012023-07-310001050140srt:MaximumMemberdsgx:SeniorSecuredCreditFacilityMemberdsgx:CanadaOrUsPrimeRateBaOrLiborMember2023-02-012023-07-3100010501402023-04-3000010501402022-07-3100010501402022-04-3000010501402022-01-310001050140dsgx:LocalzPtyLtdMemberdsgx:ExistingTechnologyMember2023-07-310001050140dsgx:GroundcloudMemberus-gaap:TradeNamesMember2023-07-310001050140dsgx:GroundcloudMemberus-gaap:NoncompeteAgreementsMember2023-07-310001050140dsgx:GroundcloudMemberus-gaap:CustomerRelationshipsMember2023-07-310001050140dsgx:GroundcloudMemberdsgx:ExistingTechnologyMember2023-07-310001050140us-gaap:TradeNamesMember2023-07-310001050140us-gaap:NoncompeteAgreementsMember2023-07-310001050140us-gaap:CustomerRelationshipsMember2023-07-310001050140dsgx:ExistingTechnologyMember2023-07-310001050140srt:MinimumMemberus-gaap:MeasurementInputLongTermRevenueGrowthRateMember2023-07-310001050140srt:MinimumMemberus-gaap:MeasurementInputDiscountRateMember2023-07-310001050140srt:MaximumMemberus-gaap:MeasurementInputLongTermRevenueGrowthRateMember2023-07-310001050140srt:MaximumMemberus-gaap:MeasurementInputDiscountRateMember2023-07-310001050140us-gaap:FairValueInputsLevel3Member2023-07-310001050140us-gaap:FairValueInputsLevel3Member2023-01-310001050140dsgx:GreenmileNetchbXpsAndSupplyVisionMember2023-07-310001050140dsgx:Fiscal2024AcquisitionsMember2023-05-012023-07-310001050140dsgx:Fiscal2024AcquisitionsMember2023-02-012023-07-310001050140dsgx:NetChbLlcMember2022-02-090001050140dsgx:LocalzPtyLtdMember2023-04-200001050140dsgx:GroundcloudMember2023-02-140001050140dsgx:SupplyVisionMember2023-01-050001050140dsgx:XpsTechnologyLlcMember2022-06-030001050140dsgx:FoxtrotMember2022-04-2100010501402022-02-090001050140us-gaap:EmployeeStockOptionMember2023-05-012023-07-310001050140dsgx:StockOptionsTreasuryStockMethodMember2023-05-012023-07-310001050140dsgx:PSUsAndRSUsMember2023-05-012023-07-310001050140us-gaap:EmployeeStockOptionMember2023-02-012023-07-310001050140dsgx:StockOptionsTreasuryStockMethodMember2023-02-012023-07-310001050140dsgx:PSUsAndRSUsMember2023-02-012023-07-310001050140us-gaap:EmployeeStockOptionMember2022-05-012022-07-310001050140dsgx:StockOptionsTreasuryStockMethodMember2022-05-012022-07-310001050140dsgx:PSUsAndRSUsMember2022-05-012022-07-310001050140us-gaap:EmployeeStockOptionMember2022-02-012022-07-310001050140dsgx:StockOptionsTreasuryStockMethodMember2022-02-012022-07-310001050140dsgx:PSUsAndRSUsMember2022-02-012022-07-310001050140us-gaap:SellingAndMarketingExpenseMember2023-05-012023-07-310001050140us-gaap:ResearchAndDevelopmentExpenseMember2023-05-012023-07-310001050140us-gaap:CostOfSalesMember2023-05-012023-07-310001050140us-gaap:SellingAndMarketingExpenseMember2023-02-012023-07-310001050140us-gaap:ResearchAndDevelopmentExpenseMember2023-02-012023-07-310001050140us-gaap:SellingAndMarketingExpenseMember2022-05-012022-07-310001050140us-gaap:ResearchAndDevelopmentExpenseMember2022-05-012022-07-310001050140us-gaap:CostOfSalesMember2022-05-012022-07-310001050140us-gaap:SellingAndMarketingExpenseMember2022-02-012022-07-310001050140us-gaap:ResearchAndDevelopmentExpenseMember2022-02-012022-07-310001050140us-gaap:CostOfSalesMember2022-02-012022-07-310001050140us-gaap:AdditionalPaidInCapitalMember2023-05-012023-07-310001050140us-gaap:AdditionalPaidInCapitalMember2023-02-012023-07-310001050140us-gaap:AdditionalPaidInCapitalMember2022-05-012022-07-310001050140us-gaap:AdditionalPaidInCapitalMember2022-02-012022-07-310001050140us-gaap:LeaseholdImprovementsMember2023-07-310001050140us-gaap:FurnitureAndFixturesMember2023-07-310001050140us-gaap:ComputerEquipmentMember2023-07-310001050140dsgx:EquipmentInstalledWithCustomersMember2023-07-310001050140us-gaap:LeaseholdImprovementsMember2023-01-310001050140us-gaap:FurnitureAndFixturesMember2023-01-310001050140us-gaap:ComputerEquipmentMember2023-01-310001050140dsgx:EquipmentInstalledWithCustomersMember2023-01-310001050140dsgx:ShelfProspectusMember2022-07-152022-07-150001050140us-gaap:RestrictedStockUnitsRSUMember2023-02-012023-07-310001050140us-gaap:PerformanceSharesMember2023-02-012023-07-310001050140us-gaap:RestrictedStockUnitsRSUMember2023-07-310001050140us-gaap:PerformanceSharesMember2023-07-310001050140us-gaap:CostOfSalesMember2023-02-012023-07-310001050140dsgx:NcibMember2022-06-072022-06-0700010501402023-05-012023-07-3100010501402022-05-012022-07-3100010501402022-02-012022-07-310001050140us-gaap:FairValueInputsLevel3Member2023-02-012023-07-310001050140us-gaap:GeneralAndAdministrativeExpenseMember2023-05-012023-07-310001050140us-gaap:GeneralAndAdministrativeExpenseMember2023-02-012023-07-310001050140us-gaap:GeneralAndAdministrativeExpenseMember2022-05-012022-07-310001050140us-gaap:GeneralAndAdministrativeExpenseMember2022-02-012022-07-310001050140dsgx:DeferredShareUnitPlanMember2023-07-310001050140dsgx:DeferredShareUnitPlanMember2023-01-310001050140dsgx:DeferredShareUnitPlanMember2023-05-012023-07-310001050140dsgx:DeferredShareUnitPlanMember2023-02-012023-07-310001050140dsgx:DeferredShareUnitPlanMember2022-05-012022-07-310001050140dsgx:DeferredShareUnitPlanMember2022-02-012022-07-3100010501402022-02-012023-01-310001050140dsgx:CashSettledRestrictedShareUnitMember2023-05-012023-07-310001050140dsgx:CashSettledRestrictedShareUnitMember2023-02-012023-07-310001050140dsgx:CashSettledRestrictedShareUnitMember2022-05-012022-07-310001050140dsgx:CashSettledRestrictedShareUnitMember2022-02-012022-07-310001050140dsgx:LocalzPtyLtdMember2023-07-310001050140dsgx:GroundcloudMember2023-07-310001050140dsgx:GroundcloudMember2023-02-142023-02-140001050140dsgx:GreenmileNetchbXpsAndSupplyVisionMember2023-02-012023-07-310001050140dsgx:SupplyVisionMember2023-01-052023-01-050001050140dsgx:XpsTechnologyLlcMember2022-06-032022-06-030001050140dsgx:NetChbLlcMember2022-02-092022-02-090001050140dsgx:LocalzPtyLtdMember2023-02-012023-07-310001050140dsgx:GroundcloudMember2023-02-012023-07-3100010501402023-07-3100010501402023-01-31iso4217:USDxbrli:sharesiso4217:USDxbrli:sharesxbrli:puredsgx:segment

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

 

For the month of September 2023

 

Commission File Number:  000-29970

 

 

THE DESCARTES SYSTEMS GROUP INC.

(Translation of registrant’s name into English)

 

120 Randall Drive

Waterloo, Ontario

Canada N2V 1C6

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [ ] Form 40-F [x]

Table of Contents

The attached Quarterly Report to Shareholders for the quarter ended July 31, 2023 is furnished herewith as Exhibit 99.1.

The attached Press Release Issued September 6, 2023 is furnished herewith as Exhibit 99.2.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

THE DESCARTES SYSTEMS GROUP INC.

(Registrant)

By:

/s/ Peter V. Nguyen                    

Name:

Peter V. Nguyen

Title:

General Counsel

Date: September 6, 2023

Table of Contents

EXHIBITS

Exhibit No.

    

Description

99.1

Quarterly Report to Shareholders for the quarter ended July 31, 2023

99.2

Press Release Issued September 6, 2023

Ex. 101

Interactive Data File (formatted in Inline XBRL)