An asset that has significant value but has no physical presence and provides a business long-term financial value is called as an "intangible asset." Identifiable intangible assets are those that the company can market separately, that can be separated from other assets, and that can be identified. Examples of distinguishable intangible assets include intellectual property, including patents, trademarks, and copyrights, as well as non-cash government grants, such as airport landing rights or broadcasting licenses. A trademark is a sign that can be used to separate the products or services of one company from those of other companies. Intellectual property rights offer protection for trademarks. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Descartes Systems Group’s gross value of intangible assets surged from $304.01 million in FY2021 to $335.45 million in FY2022, an increase of 10.34%. In FY2022, the company's net value of intangible assets was $229.6 million. Trade names and Existing technology accounted for $6.68 million and $218.95 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $59.1 million in FY2022.
The company continued to invest in computer hardware and software to sustain their network and expand their infrastructure, and in fiscal 2022, capital expenditures were $4.8 million of revenues. The company projects that its fiscal 2023 capital expenditures will be in the range of $4.0 to $5.0 million, mostly for network and security infrastructure upgrades.
The company’s trademarks dropped from $8.84 million in FY2021 to $9.04 million in FY2022. The company's overall revenues in 2022 were $424.7, up from $201.7 in 2021. The increase in revenues in 2022 over 2021 was primarily attributable to an increase in services revenues from both new and existing customers, which generated an additional $48.3 million in revenue in 2022. The acquisitions finished in 2021 (Peoplevox Limited "Peoplevox," Cracking Logistics Limited "Kontainers," and ShipTrack Inc. "ShipTrack,") were the main contributor to the remaining rise in sales in FY2022.
Descartes Systems Group Inc (Descartes) operates as a technology company that offers federated network and logistics technology solutions. The company’s solutions include logistics technology platform; routing, mobile and telematics, transportation management and e-commerce enablement; customs and regulatory compliance, global logistics network services; and broker and forwarder enterprise systems. Its customs and regulatory compliance solutions comprise cargo security compliance, declaration and fiscal compliance, industry program support services, global trade content, and government solutions. It serves various industries including manufacturing, retail, public sector, distribution, and others. The company has operations in Canada, the US, Belgium, Germany, France, Norway, the Netherlands, Slovakia, Japan, Australia, China.
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
Japan
Japan
United States of America
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