Is Kinaxis / KXS Halal?

Kinaxis Inc. (TSX: KXS) is an Ottawa-based supply-chain planning software company — its AI-infused Maestro platform helps enterprises orchestrate planning from multi-year strategy to last-mile delivery. Subscription revenue grew 20% in the latest quarter, and the balance sheet is nearly debt-free.

The two-gate Shariah screen

Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).

Gate one: the business — PASS

Kinaxis sells supply-chain planning and orchestration software — SaaS subscriptions, term licenses, and professional services. Software is a permissible business activity, and no haram revenue segment is disclosed. Gate one: PASS.

Gate two: the ratios — PASS

Debt-to-market-cap: ~1.3% (ceiling ~33%) — PASS. The Q2 2026 balance sheet at June 30, 2026 shows no bank borrowings — only lease obligations of US$5.7 million current and US$38.8 million non-current, about US$44.5 million (~CA$60 million) in total. Against a market cap of about CA$4.8 billion on September 25, 2026, that's roughly 1.3%.

Non-compliant income: ~1.5% (ceiling ~5%) — PASS. Net finance income was US$2.332 million in Q2 2026 against revenues of US$158.783 million — about 1.5%, under the screen. Gate two: PASS.

What other screeners say

No verified current third-party rating was found for Kinaxis on Zoya, Musaffa, or ShariaPortfolio as of September 2026. The PASS rating here rests on this site's own screening methodology, not on a third-party endorsement.

The bottom line

This screener gives Kinaxis Inc. (TSX: KXS) a PASS. Q2 2026 (reported August 5, 2026) posted total revenue of US$158.8 million (+16%), SaaS revenue of US$106.5 million (+20%), ARR of US$465.6 million (+19%), profit of US$21.2 million, adjusted EBITDA of US$41.4 million (26% margin), and operating cash flow of US$30.7 million — plus full-year revenue guidance raised to US$625–640 million. Snapshot dated September 28, 2026; re-checked quarterly after earnings.

The purification angle: Kinaxis' net finance income runs ~1.5% of revenue — small but real, and it grows with the cash and short-term investment balances. If you hold the shares, the purification calculator shows how to clean that portion.

Frequently asked questions

Is Kinaxis stock halal?

This screener gives Kinaxis Inc. (TSX: KXS) a PASS. Supply-chain planning software clears the business-activity screen, and the ratio math clears: the balance sheet carries no bank debt — only about US$44.5 million of lease obligations — which is roughly 1.3% of the CA$4.8 billion market cap. Net finance income of US$2.3 million against revenues of US$158.8 million is about 1.5%, under the ~5% screen.

What are Kinaxis' debt and market-cap figures?

Kinaxis' Q2 2026 balance sheet at June 30, 2026 shows no bank borrowings — only lease obligations of US$5.7 million current and US$38.8 million non-current, about US$44.5 million (~CA$60 million) in total. Against a market cap of about CA$4.8 billion on September 25, 2026, that's roughly 1.3% debt-to-market-cap, far under the ~33% AAOIFI ceiling.

Does Kinaxis earn interest income?

Kinaxis reported net finance income of US$2.332 million in Q2 2026 against revenues of US$158.783 million — about 1.5%, under the ~5% screen. The company's cash and short-term investments do earn interest, but the amount stays well within the limit.

Do any third-party screeners agree with this screener?

What could change Kinaxis' halal screener?

A large debt-funded acquisition or a much larger cash pile pushing finance income toward the ~5% line could change the math, but neither is the case today. Kinaxis spent US$46.7 million repurchasing shares in Q2 2026. This screener is a snapshot dated September 28, 2026 and is re-checked quarterly after earnings.