Coveo Solutions, Inc. · TSX:CVO
Coveo Solutions — Q1 FY2027 Earnings Presentation
45 slides from Coveo Solutions's earnings presentation, August 2026
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Slide 2: Investor Presentation
Ar €3 coveo.ai Investor Presentation
Slide 3: Disclaimer
Disclaimer This presentation (“Presentation”) is qualified in its entirety by reference to, and must be read in conjunction with, the information contained in our Annual Information Form dated May 27, 2026 (the “AIF”), as well as in our unaudited condensed interim consolidated financial statements f
Slide 4: Company Overview
Madey ; KO coveo.al Company Overview
Slide 5: Coveo empowers enterprises to compete in the Experience AI era
Manufacturing Distribution Coveo empowers enterprises to compete in the Experience AI era Coveo organizes enterprise information into trusted intelligence, and intent into outcomes Brands and Retail +725 +15 years of employees (1) AI innovation (1) ▪ One single platform, 5 regions Technology ▪ ~40%
Slide 6: Coveo empowers enterprises to compete in the Experience AI era
Coveo empowers Access trusted knowledge enterprises to compete LEARN in the Experience AI era Make better Resolve purchasing BUY FIX issues faster decisions Unifies enterprise content knowledge, catalog, behavioral data and permissions Find products Complete Orchestrates conversations, personalized
Slide 7: Strategic initiatives to drive strength in bookings and revenue growth
Focusing on high-value use cases / verticals Strategic Such as B2B Commerce in Manufacturing and Distribution Core ICP: Large enterprises with vast data and complex operations initiatives to Strategic Accounts drive strength Larger deals where Coveo is a key strategic partner Four consecutive quarte
Slide 8: Coveo's first US$10M+ ARR customer validates our strategy and value
(1) (2) Coveo’s first US$10M+ ARR customer validates our strategy and value Expanding 7 and 8-figure subscriptions show that customers increasingly view Coveo as foundational to their long-term AI strategies, rather than as a point solution, and our ability to build larger, longer and more strategic
Slide 9: Search is evolving
fO® j wy COVEO.al Search Is evolving
Slide 10: Enterprise AI has moved from possibility to business value
Enterprise AI has moved from possibility to business value The winning question is not “Which model?” It is “Which measurable business outcomes can we deliver repeatedly, securely, and at scale?” 2022 2024 2026 TODAY FOUNDATION MODELS EXPERIMENTATION DEPLOYMENT MEASURABLE VALUE BREAKTHROUGHS Capabil
Slide 11: AI does not intrinsically understand your business
AI does not intrinsically understand your business A powerful model is not an enterprise brain Foundation models are broad pattern engines They do not intrinsically know your operating reality FOUNDATION MODELS ENTERPRISE UNDERSTANDING Knows language patterns Your content freshness and quality Knows
Slide 12: Search is evolving from relevant and personalized results
Search is evolving … from relevant and personalized results
Slide 13: Search is evolving to conversational guidance and product carousel
Search is evolving… to conversational Guidance 13 and product carrousel
Slide 14: Search is evolving to conversational
Search is evolving …14 to conversational
Slide 15: Search is evolving to conversational
Search is evolving …15 to conversational
Slide 16: Search is evolving to conversational
Search is evolving …16 to conversational
Slide 17: Building accuracy & trust is critical
McKinsey Global Survey on the state of AI March 2026 Building accuracy & trust is critical LLM hallucination is still a hard-to-resolve issue LLM must be grounded in trusted content with explainability Content cannot be part of agentic workflows unless it can be fully trusted 17
Slide 18: Coveo AI-Relevance Platform & Innovation
Coveo AI-Relevance TM Platform & Innovation 18
Slide 19: Cementing our place in the modern AI tech stack
Cementing our place in the modern AI tech stack Personal Assistants Agentic AI Platforms Coveo Applications Ground your personal assistants on your enterprise data Ground your own agentic platform on your enterprise data Fully managed agentic apps OpenAI Anthropic Google Microsoft Amazon Salesforce
Slide 20: Partners extend our growth opportunity
Partners extend our growth opportunity System integrators and technology partners are bringing Coveo into larger transformations, recognizing the importance of the Experience AI opportunity 20
Slide 21: Customer Success
fO® j wy COVEO.al Customer Success
Slide 22: High-impact, AI-Powered use cases
High-impact, AI-Powered use cases (1) Use case Description Value delivered Coveo enables faster, more intuitive B2B buying through AI-Search, recommendations, and Generative AI guidance. 28% AI B2B Commerce This improves product findability, self-service adoption, Increase in revenue tied to onsite
Slide 23: With Coveo, SAP reported avoiding 1.6 Million support cases
With Coveo, SAP reported avoiding 1.6 Million support cases October 5, 2025 | Link 23 Refer to footnote on page 17, which is reproduced in its entirety in this slide by reference.
Slide 24: Generative AI question answering delivers self-service success
Generative AI question answering delivers self-service success What sets Coveo apart is the relevancy, accuracy, and transparency of every answer” Laurel Poertner Sr. Director, Digital Services +11% $150k 63% Improvement in self- Saved in first 30 days Uplift in knowledge service success with with g
Slide 25: Nespresso perks up conversions with AI Search
Nespresso perks up conversions with AI Search Partnering with Coveo to improve our search experience has been a game changer. It’s helped us remove friction, surface relevant content, and deliver a more intuitive, personalized journey online.” YC Eu Head of eBusiness, Nespresso Oceania 182% 30% 10%
Slide 26: ADI Transforms B2B search with AI
ADI Transforms B2B search with AI Watching the relevancy of search results improve day by day, week by week has proved Coveo’s say-do ratio. The AI works, it learns, and it improves.” Stu Tisdale Sr. VP and Chief Experience Officer +28% +16% 91% Increase in revenue Increase in Reduction in null tied
Slide 27: Financial Highlights
fO® j wy COVEO.al Financial Highlights
Slide 28: Our Business Model
Our Subscription-based revenue Contractually committed volumes for the entire term of the contract Business Strong unit economics 80%+ Product Gross Margin + healthy CAC-to-LTV Model Multi-year agreements Predominantly 3+ year contracts with upfront annual billing Enterprise customers +US$220k avera
Slide 29: Executing a balanced growth strategy
Executing a 200.0 In million of U.S. dollars SaaS Subscription Revenue Coveo core Platform Cash flows from operating activities (1) 120% balanced (2) 110% SaaS Subscription Revenue as a % of Total revenue (Coveo core Platform) (1) $156.0 150.0 $139.8 100% $109.1 $121.3 growth (2) 91% 95% 96% 96% 89%
Slide 30: Q1 FY'27 at a glance
Q1 FY’27 at a glance (2) (2) US $37.4M 13% 102% Q1 FY’27 SaaS Q1 FY’27 SaaS Net Expansion Rate(1) Subscription Revenue(1) Subscription Revenue(1) Growth (Coveo Core Platform) (Coveo Core Platform) as of June 30, 2026 US $0.1M US $9.2M 81% Q1 FY’27 Adjusted EBITDA(3) Q1 FY’27 Cash Flows Q1 FY’27 Prod
Slide 31: Revenue Growth
Revenue Growth USD millions Q1 FY’27 Q1 FY’26 YoY SaaS Subscription Revenue(1) $37.4 $34.2 9% Coveo core Platform(2) $37.4 $33.1 13% Qubit Platform(3) - $1.0 (100%) Professional Services Revenue $1.2 $1.4 (15%) Total Revenue $38.5 $35.5 8% (1) SaaS Subscription Revenue is a Key Performance Indicator
Slide 32: Gross Profit Measures
Gross Profit Measures % Q1 FY’27 Q1 FY’26 Gross Margin 78% 77% Adjusted Gross Margin(1) 79% 79% Product Gross Margin 81% 81% Adjusted Product Gross Margin(1) 81% 82% (1) Adjusted Gross Margin and Adjusted Product Gross Margin are non-IFRS financial ratios. Please refer to the "Non-IFRS Measures and
Slide 33: Profitability Measures
Profitability Measures USD millions Q1 FY’27 Q1 FY’26 Net loss ($5.8) ($15.1) Adjusted EBITDA(1) $0.1 ($1.9) Cash Flow from Operating Activities $9.2 $7.1 (1) Adjusted EBITDA is a non-IFRS measure. Please refer to the "Non-IFRS Measures and Ratios" section of the disclaimer to this Presentation, and
Slide 34: Q2 FY'27 and Full Year Guidance
Q2 FY’27 and Full Year Guidance USD millions Q2 FY’27 Full Year FY’27 SaaS Subscription Revenue(1) $38.5 – $39.0 $154.0 – $158.0 Total Revenue $39.7 – $40.2 $160.0 – $164.0 Adjusted EBITDA(2) $0.5 – $1.5 $2.0 - $7.0 The company expects to deliver operating cash flows of more than $10 million for the
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Slide 36: Appendix
fO® j wy COVEO.al Appendix
Slide 37: Consolidated Statements of Loss
Consolidated Statements of Loss (in thousands of US dollars, except share and per share data) 37
Slide 38: Consolidated Statements of Loss
Consolidated Statements of Loss (in thousands of US dollars) 38
Slide 39: Reconciliation of Net Loss to Adjusted EBITDA
Reconciliation of Net Loss to Adjusted EBITDA (in thousands of US dollars) Adjusted EBITDA is defined as net income or net loss, excluding interest, taxes, depreciation of property and equipment and right-of-use-assets, amortization and impairment of intangible assets (or EBITDA), adjusted for stock
Slide 40: Reconciliation of Adjusted Gross Profit Measures and Adjusted Gross Margin Measures
Reconciliation of Adjusted Gross Profit Measures and Adjusted Gross Margin Measures (in thousands of US dollars) “Adjusted Gross Profit”, “Adjusted Product Gross Profit”, and “Adjusted Professional Services Gross Profit” are respectively defined as gross profit, product gross profit, and professiona
Slide 41: Reconciliation of Adjusted Operating Expense Measures
Reconciliation of Adjusted Operating Expense Measures and Adjusted Operating Expense (%) Measures (in thousands of US dollars) “Adjusted Sales and Marketing Expenses”, “Adjusted Research and Product Development Expenses”, and “Adjusted General and Administrative Expenses” are respectively defined as
Slide 42: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position (in thousands of US dollars) 42
Slide 43: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (in thousands of US dollars, unaudited) 43
Slide 44: Definition of Key Performance Indicators
Definition of Key Performance Indicators “SaaS Subscription Revenue” means Coveo’s SaaS subscription revenue, as presented in its financial statements in accordance with IFRS. “Current SaaS Subscription Remaining Performance Obligations” is a forward-looking indicator of anticipated future revenue u
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