Coveo Solutions
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Coveo Solutions (CVO) investor relations material

Coveo Solutions Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary29 Jan, 2026

Executive summary

  • Achieved record subscription and net bookings, including the largest new customer win in company history with a seven-figure ACV from a Fortune 500/global industrial leader, and expanded over 80 existing customer deployments.

  • Continued innovation with launches such as RAG-as-a-Service for AWS, Coveo App for OpenAI ChatGPT Enterprise, and deepened partnerships with Deloitte and a memorandum of understanding with the Government of Canada for digital modernization.

  • Focused on growth strategy, disciplined execution, and healthy unit economics, with strong momentum in commerce and generative AI solutions.

Financial highlights

  • Q3 SaaS subscription revenue was $36.6M, up 13% year-over-year; core platform subscription revenue grew 15% to $35.8M.

  • Total revenue reached $38M, a 12% increase from last year; gross margin and product gross margin were 78% and 81%, respectively.

  • Net loss was $7.2M compared to net income of $4.0M in the prior year; adjusted EBITDA was -$0.2M (vs. $0.6M prior year); operating cash flow was $0.5M (vs. -$0.2M prior year).

  • Cash and cash equivalents stood at $100.8M as of December 31, 2025, with no debt.

Outlook and guidance

  • Q4 SaaS subscription revenue expected at $35.6M–$36.1M; total revenue at $37.1M–$37.6M.

  • Full year SaaS subscription revenue expected at $142.2M–$142.7M; total revenue at $148M–$148.5M, both at the high end of prior guidance.

  • Adjusted EBITDA and operating cash flows expected to be approximately breakeven for Q4 and full year; positive operating cash flows anticipated.

Net impact of Qubit deprecation on NRR?
How do record bookings translate to SaaS revenue growth?
What drives positive operating cash flow for FY26?
Explain NER divergence: overall vs. top 20
Update on Canada government MOU progress
Coveo's value in Agentic AI workflows
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Frequently asked questions

Coveo Solutions Inc. is a Canada-based software company specializing in artificial intelligence (AI)-powered search and personalization solutions. The company’s platform helps businesses deliver relevant, personalized digital experiences by leveraging AI and machine learning to analyze data and improve customer interactions. The company is headquartered in Quebec City, Canada, and its shares are listed on the Toronto Stock Exchange (TSX).

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