05:28 PM EST, 12/03/2024 (MT Newswires) -- Descartes Systems Group ( DSGX ) was at last look up 1.7% in after hours Nasdaq trading on Tuesday as it reported improved earnings for the third quarter on higher revenues.

The software as a service company said its profit in the quarter rose 38% to US$36.6 million, or US$0.42 per share, from $26.6 million , or US$0.31, in the year-prior period.

Descartes' revenue rose 17% to US$168.8 million, from US$144.7 million, including services revenue of US$149.7 million, 89% of total revenue, professional services and other revenues of US$15.6 million, and license revenue of US$3.5 million.

Cash provided by operating activities rose 7% to US$60.1 million from US$56.1 million in the year-prior quarter. ;

Descartes reported Adjusted EBITDA of US$72.1 million, up 14% from US$63.5 million. Adjusted EBITDA as a percentage of revenues was 43%, compared to 44% a year earlier.

"Our business has grown organically while we've added complementary solutions to our Global Logistics Network by way of acquisition," said chief executive Edward Ryan "We listen to our customers about where best to invest to help them meet the many logistics and supply chain challenges they're facing, which contributed to us completing two acquisitions this past quarter. The global trade landscape remains highly uncertain and complex for our customers, especially with potential upcoming changes to tariffs and sanctions and the resulting impact on trade. As always, our goal is to help our customers manage this complexity so that they can continue to focus on their core businesses."

The company's shares were last seen up US$1.98 to US$118.00 after hours. They closed up $0.26 to $163.08 on the Toronto Stock Exchange.