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Side-by-side financial comparison of DESCARTES SYSTEMS GROUP INC (DSGX) and HIVE Digital Technologies Ltd. (HIVE). Click either name above to swap in a different company.
DESCARTES SYSTEMS GROUP INC is the larger business by last-quarter revenue ($179.8M vs $93.1M, roughly 1.9× HIVE Digital Technologies Ltd.). DESCARTES SYSTEMS GROUP INC runs the higher net margin — 21.1% vs -98.1%, a 119.2% gap on every dollar of revenue.
The Descartes Systems Group Inc. is a Canadian multinational technology company specializing in logistics software, supply chain management software, and cloud-based services for logistics businesses.
Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.
DSGX vs HIVE — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $179.8M | $93.1M |
| Net Profit | $38.0M | $-91.3M |
| Gross Margin | 76.9% | -27.1% |
| Operating Margin | 26.8% | — |
| Net Margin | 21.1% | -98.1% |
| Revenue YoY | — | 218.6% |
| Net Profit YoY | — | -234.0% |
| EPS (diluted) | $0.43 | $-0.38 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $93.1M | ||
| Q3 25 | $179.8M | $87.3M | ||
| Q2 25 | — | $45.6M | ||
| Q4 24 | — | $29.2M | ||
| Q3 24 | $163.4M | $22.6M | ||
| Q2 24 | — | $32.2M | ||
| Q4 23 | — | $22.8M | ||
| Q3 23 | $143.4M | — |
| Q4 25 | — | $-91.3M | ||
| Q3 25 | $38.0M | $-15.8M | ||
| Q2 25 | — | $35.0M | ||
| Q4 24 | — | $68.2M | ||
| Q3 24 | $34.7M | $80.0K | ||
| Q2 24 | — | $-18.3M | ||
| Q4 23 | — | $-24.5M | ||
| Q3 23 | $28.1M | — |
| Q4 25 | — | -27.1% | ||
| Q3 25 | 76.9% | 4.7% | ||
| Q2 25 | — | -13.6% | ||
| Q4 24 | — | -43.7% | ||
| Q3 24 | 75.2% | -66.1% | ||
| Q2 24 | — | -7.4% | ||
| Q4 23 | — | -52.3% | ||
| Q3 23 | 75.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | 26.8% | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 28.1% | — | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | 25.7% | — |
| Q4 25 | — | -98.1% | ||
| Q3 25 | 21.1% | -18.1% | ||
| Q2 25 | — | 76.8% | ||
| Q4 24 | — | 233.2% | ||
| Q3 24 | 21.2% | 0.4% | ||
| Q2 24 | — | -56.7% | ||
| Q4 23 | — | -107.8% | ||
| Q3 23 | 19.6% | — |
| Q4 25 | — | $-0.38 | ||
| Q3 25 | $0.43 | $-0.07 | ||
| Q2 25 | — | $0.18 | ||
| Q4 24 | — | $0.52 | ||
| Q3 24 | $0.40 | $0.00 | ||
| Q2 24 | — | $-0.17 | ||
| Q4 23 | — | $-0.29 | ||
| Q3 23 | $0.32 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $240.6M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $559.3M |
| Total Assets | $1.8B | $624.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $240.6M | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $40.5M | ||
| Q3 24 | $252.7M | $31.7M | ||
| Q2 24 | — | — | ||
| Q4 23 | — | $4.5M | ||
| Q3 23 | $227.4M | — |
| Q4 25 | — | $559.3M | ||
| Q3 25 | $1.5B | $624.6M | ||
| Q2 25 | — | $560.5M | ||
| Q4 24 | — | $430.9M | ||
| Q3 24 | $1.3B | $275.5M | ||
| Q2 24 | — | $268.6M | ||
| Q4 23 | — | $122.9M | ||
| Q3 23 | $1.2B | — |
| Q4 25 | — | $624.0M | ||
| Q3 25 | $1.8B | $693.0M | ||
| Q2 25 | — | $628.7M | ||
| Q4 24 | — | $478.6M | ||
| Q3 24 | $1.6B | $334.7M | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | $1.4B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $63.3M | $46.0M |
| Free Cash FlowOCF − Capex | $62.1M | — |
| FCF MarginFCF / Revenue | 34.5% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | 1.67× | — |
| TTM Free Cash FlowTrailing 4 quarters | $189.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $46.0M | ||
| Q3 25 | $63.3M | $-10.6M | ||
| Q2 25 | — | $10.2M | ||
| Q4 24 | — | $-28.5M | ||
| Q3 24 | $34.7M | $-2.2M | ||
| Q2 24 | — | $-4.4M | ||
| Q4 23 | — | — | ||
| Q3 23 | $52.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | $62.1M | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $-55.5M | ||
| Q3 24 | $33.1M | $-34.7M | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | $49.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | 34.5% | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | -189.9% | ||
| Q3 24 | 20.2% | -153.4% | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | 34.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | 92.5% | ||
| Q3 24 | 1.0% | 143.9% | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | 1.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | — | 0.29× | ||
| Q4 24 | — | -0.42× | ||
| Q3 24 | 1.00× | -26.94× | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | 1.85× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
