Accessibility StatementSkip Navigation SaaS Subscription Revenue of $35.9 million, exceeding guidance Core Coveo SaaS Subscription Revenue growth of 17% Commerce remains Coveo's fastest-growing use case, fueled by expanding SAP partnership Continued Generative AI momentum with ~2.5x year-over-year growth in customers and revenue Coveo reports in U.S. dollars and in accordance with International Financial Reporting Standards ("IFRS") MONTREAL and SAN FRANCISCO, Oct. 30, 2025 /PRNewswire/ - Coveo (TSX: CV ...

Core Insights - Coveo's revenue growth has reaccelerated to 16% for its core platform, driven significantly by generative AI solutions which accounted for approximately 50% of new business during the quarter [1][8] - The company has strengthened its relationship with SAP, which has expanded its usage of Coveo's generative AI solutions, positioning Coveo as a key partner in SAP's customer experience strategy [2][8] Financial Performance - SaaS Subscription Revenue reached $34.2 million, a 12% increase from $30.6 million, with the Coveo core platform contributing $33.1 million, reflecting a 16% growth [3][5] - Total revenue for the quarter was $35.5 million, up 10% from $32.2 million, while gross margin slightly decreased to 77% from 78% [3][5] - The net loss widened to $15.1 million compared to $6.1 million in the previous year, and adjusted EBITDA was reported at ($1.9) million, a slight decline from ($1.7) million [3][5] Business Highlights - New business bookings were the highest in the company's history for a first quarter, with significant contributions from various sectors including commerce, which is the fastest-growing use case [5][8] - Coveo was recognized as a Leader for the second consecutive year in the 2025 Gartner Magic Quadrant for Search and Product Discovery, highlighting its competitive position in the market [8] - The company repurchased 510,988 subordinate voting shares for a total consideration of $2.7 million under its normal course issuer bid, with a total of 2,690,573 shares repurchased since the launch of the bid [8] Financial Outlook - For Q2 FY'26, Coveo anticipates SaaS Subscription Revenue between $35.3 million and $35.8 million, and total revenue between $36.6 million and $37.1 million [7] - The company expects to maintain positive operating cash flows of approximately $10 million for Fiscal 2026, indicating a focus on sustainable growth [7][8]