Kinaxis reported third-quarter adjusted EPS of US$1.21, beating the US$0.97 estimate. SaaS growth and record contracted revenue helped the company raise its 2026 outlook.
Kinaxis Inc. (TSX: KXS) reported results for the quarter ended September 30, 2026. Its adjusted earnings of US$1.21 per share came in 24.7% above the US$0.97 estimate, according to calendar data. SaaS revenue grew 22% year over year, remaining performance obligations (RPO) topped US$1 billion, and the company raised its 2026 outlook. For Canadian investors, the results support the growth story, but the valuation and the sources of earnings growth deserve a closer look. Visit the Kinaxis stock page for more company and share information.
Recent earnings trend
Kinaxis Inc
KXS.TO
KXS.TO
Kinaxis Inc
WealthAwesomeMarket cap
$5.59B
P/E
46.6x
52W high
$207.42
52W low
$117.22
1W change
+6.44%
Beta
0.70
Analyst Price Targets
Based on analyst covering KXS · as of Nov 9, 2026
Wall Street analysts forecast KXS stock price to rise 9.9% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$227.20
+9.9% Upside
Previously C$213.88 on Nov 6, 2026
Current Price
C$206.69
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on KXS's historical volatility
30-Day Vol
25.4%
Annualized
90-Day Vol
35.0%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$247.10
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$219.37 | C$200.99 – C$239.43 |
| 60 trading days | C$232.82 | C$205.72 – C$263.49 |
| 90 trading days | C$247.10 | C$212.35 – C$287.54 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 5 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-03 | — | 1.0600 | — |
| 2026-09-30 | 2026-11-04 | 1.2100 | 0.9700 | +24.7% |
| 2026-06-30 | 2026-08-05 | 1.2000 | 0.9700 | +23.7% |
| 2026-03-31 | 2026-05-06 | 1.3400 | 1.1400 | +17.5% |
| 2025-12-31 | 2026-03-04 | 1.0100 | 0.9100 | +11.0% |
| 2025-09-30 | 2025-11-05 | 0.9300 | 0.8500 | +9.4% |
Investor takeaway: Kinaxis paired recurring-revenue growth with stronger-than-expected earnings and a higher outlook. SaaS revenue rose 22% to US$112.3 million, while RPO increased 21% to US$1.027 billion, giving investors more visibility into future contracted revenue. Adjusted EBITDA grew 24% to US$42.0 million, and its margin reached 26%. But the margin benefited from subscription term licence revenue, which is recognized earlier than SaaS revenue. Subscription software margins also faced higher hosting costs as the company moved to the cloud. Kinaxis trades at about 46.6 times trailing earnings, a valuation that assumes continued growth and strong execution.
US$1.21 EPS, 24.7% above estimate
Calendar data puts Kinaxis’s earnings at US$1.21 per share, compared with an estimate of US$0.97 for the quarter ended September 30. The company separately reported profit of US$20.1 million, or US$0.72 per diluted share, under its financial reporting measures. These figures use different definitions and aren’t directly comparable. Revenue rose 19% to US$160.3 million, while SaaS revenue grew 22%.
Bull case
Kinaxis’s recurring-revenue base continues to grow. ARR rose 19% year over year to US$483.9 million, or 20% in constant currency. RPO topped US$1 billion, and management raised its 2026 guidance, pointing to strong demand and greater visibility into future revenue. New customers accounted for 40% of ARR additions, and partners were involved in about 75% of software bookings year to date. Kinaxis has also beaten earnings estimates in each of its last four comparable quarters.
Bear case
Kinaxis’s valuation leaves little room for execution missteps. And some of the quarter’s margin strength may not reflect a lasting improvement in the business. Management said subscription term licences contributed significantly to adjusted EBITDA outperformance. These licences can bring revenue forward without a matching increase in service costs. Subscription software margin fell to 77% from 79% a year earlier as hosting costs rose during the shift from private data centres to the cloud. Foreign exchange is expected to remain a drag on revenue. The company’s newer usage-based pricing and forward-deployed engineering initiatives are also still at an early stage.
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