Is Wall Street getting the AI threat to software stocks all
wrong? When fears of a "SaaSpocalypse" sent software stocks
plunging, Canadian tech company Kinaxis (KXS.TO) lost roughly 30%
of its value. But according to its new CEO, Razat Gaurav, the
business was actually getting stronger. With revenue doubling
since 2023 and growing demand from global customers including
General Motors, Unilever and Merck, Gaurav believes Kinaxis has
the potential to double or even triple in size. He joins Amber
Kanwar to explain why AI won't replace the company's supply chain
software, how it's using AI to accelerate growth, and why
investors may be misunderstanding the future of enterprise
software.
Gaurav also discusses the economics of AI, including rising token
usage, whether AI companies are subsidizing their products, and
the potential for over investment to create another tech bubble.
He explains why Kinaxis is increasing R&D spending while
maintaining a debt-free balance sheet, how a partnership with
Nvidia is making its technology dramatically faster, and what
tariffs, geopolitical tensions and global supply chain
disruptions mean for customer demand.
Plus, could Kinaxis be headed for a U.S. stock exchange—or become
Canada's next big tech takeover? Gaurav addresses plans for a
potential U.S. dual listing, acquisition opportunities, takeover
speculation and why he believes the company's biggest growth
opportunities are still ahead.
Timestamps
00:00 Trailer
02:07 Intro
04:05 What Kinaxis Does for Global Companies
07:11 How AI and Changing Consumer Habits Reshape Supply Chains
09:26 A New CEO Meets the “SaaSpocalypse”
11:33 Why Kinaxis’ Business Fundamentals Stayed Strong
14:13 Can You Vibe-Code a Supply Chain Platform?
18:33 What LLMs Can—and Can’t—Do for Enterprise Software
20:30 The Enterprise Tech Stack: Systems of Record, Semantics,
and Context
23:10 Why One Merck Change Can Trigger 18,000 Recalculations
26:59 AI, Pricing, and Kinaxis’ Profit Margins
29:31 Why Kinaxis Pricing Isn’t Based on Seats
31:37 Token Maxing: AI Costs, Model Choices, and Productivity
37:36 Why Kinaxis Isn’t Borrowing to Chase Growth
41:57 AI Investment Booms, Bubbles, and Lessons from Tech History
44:22 Stock Market Fears vs. Business Reality
47:48 Kinaxis’ Canadian Roots and Global Business
50:40 Kinaxis’ Plans for a U.S. Dual Listing
51:35 NVIDIA Partnership: Faster Supply Chain Optimization
52:48 Why Kinaxis Is Focused on Organic Growth
59:59 Closing Bell: Hiking, Sailing, Travel, and Wine
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The information provided in this podcast is for informational
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