Let us cut straight to it. If you are a Canadian investor looking for two AI stocks with strong earnings, robust growth, and a long runway ahead, Kinaxis (TSX:KXS) and Docebo (TSX:DCBO) belong on your radar right now.
Both companies recently delivered standout results. Both are aggressively buying back their own shares. And both are building AI-powered platforms precisely as enterprise demand for smarter software accelerates. The case for owning them is compelling.
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Is this TSX tech stock a good buy?
Kinaxis is not a household name for most retail investors. The company offers AI-powered supply chain planning software used by some of the world’s largest and most complex manufacturers, including Ford, Lockheed Martin, and Unilever.
- In 2025, Kinaxis grew SaaS (software-as-a-service) revenue by 17% year over year, above the initial guidance range of 11–13%. Its annual recurring revenue rose 20%, up from 12% in 2024.
- Moreover, adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) rose 30% to US$138.4 million, indicating a margin of 25%.
- New customer wins in Q4 include a top-five global semiconductor foundry, a major global storage company, and Marathon Petroleum.
- The quarter and the full year produced more deals with average contract values exceeding US$1 million, more than any other period in the company’s history.
- For 2026, Kinaxis is guiding for SaaS revenue growth of 17% to 19% and total revenue of $620 million to $635 million.
Management is also doubling down on AI with the commercial launch of Maestro Agent Studio, a no-code platform that lets supply chain teams build and deploy AI agents directly inside the software. New pricing tied to usage and AI activity creates a clear path to monetizing that capability over time.
CEO Razat Gaurav summed it up well on the earnings call: the company is evolving from a supply chain planning solution to a composable agentic supply chain orchestration platform. That is a much bigger market.
Meanwhile, the TSX tech stock is aggressively buying back shares, with a repurchase program that could represent up to roughly US$284 million in additional buybacks.
Down 42% from all-time highs, KXS stock is valued at a market cap of $3.7 billion. Analysts forecast its free cash flow to improve from $112 million in 2025 to $253 million in 2030. If the tech stock is priced at 20 times forward FCF, it could double within the next four years.
The bull case for this Canadian AI stock
Docebo sells AI-powered learning management software to enterprises. It is the system behind how companies like Target train their vendor networks and how organizations like Databricks run monetized customer academies.
Docebo grew the number of customers spending over US$100,000 annually by 25% year over year. Moreover, EBITDA rose 40% in Q4 and 30% for the full year.
The company also just acquired 365Talents, a skills intelligence platform, which fills a product gap that was costing Docebo enterprise deals in 2025. Management is targeting 30% annual growth from that asset over the next three years.
Down 83% from all-time highs, the AI stock has grossly underperformed the broader markets. Analysts forecast its free cash flow to expand from US$27.2 million in 2025 to US$85 million in 2030. If the tech stock is priced at just 10 times forward FCF, it could double within the next four years.
The Foolish takeaway
Both Kinaxis and Docebo are profitable, growing, and run by management teams with clear strategic conviction. The AI-driven disruption of enterprise workflows is not slowing down. It is speeding up. And both of these companies are positioned to benefit directly from it.
