Allow us to reduce straight to it. In case you are a Canadian investor searching for two AI shares with sturdy earnings, strong development, and a protracted runway forward, Kinaxis (TSX:KXS) and Docebo (TSX:DCBO) belong in your radar proper now.
Each firms just lately delivered standout outcomes. Each are aggressively shopping for again their very own shares. And each are constructing AI-powered platforms exactly as enterprise demand for smarter software program accelerates. The case for proudly owning them is compelling.
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Is that this TSX tech inventory an excellent purchase?
Kinaxis is just not a family identify for many retail buyers. The corporate provides AI-powered provide chain planning software program utilized by among the world’s largest and most advanced producers, together with Ford, Lockheed Martin, and Unilever.
- In 2025, Kinaxis grew SaaS (software-as-a-service) income by 17% yr over yr, above the preliminary steering vary of 11–13%. Its annual recurring income rose 20%, up from 12% in 2024.
- Furthermore, adjusted EBITDA (earnings earlier than curiosity, tax, depreciation, and amortization) rose 30% to US$138.4 million, indicating a margin of 25%.
- New buyer wins in This autumn embrace a top-five international semiconductor foundry, a significant international storage firm, and Marathon Petroleum.
- The quarter and the total yr produced extra offers with common contract values exceeding US$1 million, greater than some other interval within the firm’s historical past.
- For 2026, Kinaxis is guiding for SaaS income development of 17% to 19% and whole income of $620 million to $635 million.
Administration can also be doubling down on AI with the business launch of Maestro Agent Studio, a no-code platform that lets provide chain groups construct and deploy AI brokers immediately contained in the software program. New pricing tied to utilization and AI exercise creates a transparent path to monetizing that functionality over time.
CEO Razat Gaurav summed it up effectively on the earnings name: the corporate is evolving from a provide chain planning answer to a composable agentic provide chain orchestration platform. That could be a a lot greater market.
In the meantime, the TSX tech inventory is aggressively shopping for again shares, with a repurchase program that would symbolize as much as roughly US$284 million in extra buybacks.
Down 42% from all-time highs, KXS inventory is valued at a market cap of $3.7 billion. Analysts forecast its free money circulation to enhance from $112 million in 2025 to $253 million in 2030. If the tech inventory is priced at 20 occasions ahead FCF, it might double inside the subsequent 4 years.
The bull case for this Canadian AI inventory
Docebo sells AI-powered studying administration software program to enterprises. It’s the system behind how firms like Goal practice their vendor networks and the way organizations like Databricks run monetized buyer academies.
Docebo grew the variety of clients spending over US$100,000 yearly by 25% yr over yr. Furthermore, EBITDA rose 40% in This autumn and 30% for the total yr.
The corporate additionally simply acquired 365Talents, a abilities intelligence platform, which fills a product hole that was costing Docebo enterprise offers in 2025. Administration is concentrating on 30% annual development from that asset over the following three years.
Down 83% from all-time highs, the AI inventory has grossly underperformed the broader markets. Analysts forecast its free money circulation to increase from US$27.2 million in 2025 to US$85 million in 2030. If the tech inventory is priced at simply 10 occasions ahead FCF, it might double inside the subsequent 4 years.
The Silly takeaway
Each Kinaxis and Docebo are worthwhile, rising, and run by administration groups with clear strategic conviction. The AI-driven disruption of enterprise workflows is just not slowing down. It’s rushing up. And each of those firms are positioned to learn immediately from it.
