Coveo Solutions, Inc. · TSX:CVO

Coveo Solutions — Q2 FY2027 Earnings Presentation

40 slides from Coveo Solutions's earnings presentation, Oct 29, 2026

  1. Slide 1: Q2 Fiscal 2027 Financial Results

    Q2 Fiscal 2027 Financial Results For the three months ended September 30, 2026 October 29, 2026

  2. Slide 2: 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 condensed interim consolidated financial statements for the thr

  3. Slide 3: Q2 Overview

    Q2 Overview Louis Têtu Executive Chairman, Coveo

  4. Slide 4: Q2 FY'27 at a glance

    Q2 FY’27 at a glance Q2 FY’27 Q2 FY’27 $2.0M $39.1M Adj. EBITDA(2) US US SaaS Subscription Revenue (1) US ($3.1M) Net Loss Q2 FY’27 + 2 7-figure customer Transactions Acquisition of Anglera (1) SaaS Subscription Revenue and Net Expansion Rate are key performance indicators of Coveo. Please refer to

  5. Slide 5: Each interaction is a moment-of-intent

    Discover Find and compare Consumers, Workers, Increase Sales Each interaction, at every Persons Business buyers point-of-experience, is Solve Buy a moment-of-intent, Reach the right next action Choose the right product Better Conversion and an AI opportunity to Increase Self-service Points deliver a

  6. Slide 6: 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 Kno

  7. Slide 7: Why we exist

    Why we exist Our Experience AI technology turns every intent into better, context-aware outcomes, at enterprise scale and precision 1 Experiences are the most pervasive use of AI. Businesses must compete in the experience AI economy, delivering modern competitive experiences people expect. 7 AI agen

  8. Slide 8: Q2 Strategic Update

    Q2 Strategic Update Laurent Simoneau Co-Founder & CEO, Coveo

  9. Slide 9: FY27 Priorities

    Customer Focus FY27 Priorities Measurable Coveo as a Competitive ROI Strategic Partner Advantage Positioned for the next phase of Innovation enterprise AI Conversational Product Discovery Merchandising Copilot Forward Deployed Engineers adoption Investing to capture the massive Disciplined Growth op

  10. Slide 10: Coveo plays a strategic role as customers put AI into production

    Coveo plays a strategic role, as our customers put AI into production Four consecutive quarters Two 7-figure transactions Best bookings with 7-figure transactions this quarter quarter in history 10 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  11. Slide 11: Applications and headless, Personal Assistants and Agentic AI Platforms, Coveo managed

    Applications and headless Personal Assistants and Agentic AI Platforms Coveo managed Coveo native integrations in apps & headless support Ground your own agentic platform on your enterprise data Fully managed agentic apps Commerce OpenAI Anthropic Google Salesforce SAP Amazon Snowflake Sierra Micros

  12. Slide 12: Conversational Product Discovery

    Conversational Product Discovery Search on Products, Technical information turned into guidance 12 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  13. Slide 13: Suggested next steps

    Suggested next steps 13 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  14. Slide 14: Comparing products

    Comparing products 14 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  15. Slide 15: Comparing products

    Comparing products 15 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  16. Slide 16: Complex query generates complex answer

    Complex query generates complex answer 16 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  17. Slide 17: Merchandising Agent

    Merchandising Agent 70% ~50% +20% Management of campaigns, rules … used Rate of suggestions Merch changes 17 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  18. Slide 18: Forward Deployed Engineers

    Forward Deployed Engineers 40 Engagements in Q2/F27 with positive impact on Customer Expansion, Retention and Product Roadmap POSITIVE IMPACT ON SELECT CUSTOMERS: Consulting turned Solution An innovative Customer engagement a customer Architecture PoC resulted in strengthened advocacy relationship i

  19. Slide 19: Acquisition of Anglera

    Acquisition of Anglera Better product data. Smarter discovery. 19 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  20. Slide 20: The Product Data Problem

    The Product Data Problem For retailers, distributors, and manufacturers, product data is critical to helping customers find the right products. This is true for both traditional search and AI assistants. Incomplete Incorrect Inconsistent Missing attributes that matter for Wrong taxonomy, mismatched

  21. Slide 21: The product data problem

    The product data problem Anglera addresses this challenge by using AI to enrich existing catalogs at enterprise scale, extracting information from unstructured product content. Raw retailer feed (before) Enriched product record (after) Title: Bosch 500 DW Title: Bosch 500 Series 24" Built-In Dishwas

  22. Slide 22: 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 Majority of contracts are 3+ years with upfront annual billing Enterprise customers US$220k+ av

  23. Slide 23: Q2 Financial Highlights

    Q2 Financial Highlights Karine Hamel Chief Financial Officer, Coveo

  24. Slide 24: Q2 FY'27 at a glance

    Q2 FY’27 at a glance (2) (2) US $39.1M 12% 105% Q2 FY’27 SaaS Q2 FY’27 SaaS Net Expansion Rate(1) Subscription Revenue(1) Subscription Revenue(1) Growth (Coveo Core Platform) (Coveo Core Platform) as of Sept. 30, 2026 US $2.0M US $8.1M 82% Q2 FY’27 Adjusted EBITDA(3) Q2 FY’27 Cash Flow used to Q2 FY

  25. Slide 25: Revenue Growth

    Revenue Growth USD millions Q2 FY’27 Q2 FY’26 YoY SaaS Subscription Revenue(1) $39.1 $35.9 9% Coveo core Platform(2) $39.1 $35.0 12% Qubit Platform(3) - $0.9 (100%) Professional Services Revenue $1.3 $1.4 (10%) Total Revenue $40.4 $37.3 8% (1) SaaS Subscription Revenue is a Key Performance Indicator

  26. Slide 26: Gross Profit Measures

    Gross Profit Measures % Q2 FY’27 Q2 FY’26 Gross Margin 80% 79% Adjusted Gross Margin(1) 80% 80% Product Gross Margin 82% 82% Adjusted Product Gross Margin(1) 82% 83% (1) Adjusted Gross Margin and Adjusted Product Gross Margin are non-IFRS financial ratios. Please refer to the "Non-IFRS Measures and

  27. Slide 27: Profitability Measures

    Profitability Measures USD millions Q2 FY’27 Q2 FY’26 Net loss ($3.1) ($4.4) Adjusted EBITDA(1) $2.0 $0.6 Cash Flow from Operating Activities ($14.9) ($10.8) (1) Adjusted EBITDA is a non-IFRS measure. Please refer to the "Non-IFRS Measures and Ratios" section of the disclaimer to this Presentation,

  28. Slide 28: Strategic initiatives continue to drive bookings strength

    Q2 UPDATE: Strategic initiatives continue to drive bookings strength Gen AI Distributor / Innovation: Driving strong Land & B2B Commerce Acquisition of Anglera Expand Motion Momentum in strategic cohorts Longer term opportunity from technology, expertise and a bolstered product offering 28 Copyright

  29. Slide 29: Q3 FY'27 and Full Year Guidance

    Q3 FY’27 and Full Year Guidance USD millions Q3 FY’27 Full Year FY’27 SaaS Subscription Revenue(1) $39.7 – $40.2 $156.0 – $158.0 Updated Total Revenue $40.6 – $41.1 $160.0 – $162.0 Updated Adjusted EBITDA(2) $1.0 – $2.0 $2.0 - $7.0 Maintained The company expects to deliver operating cash flows of mo

  30. Slide 30: Q&A Session

    Q&A Session 30

  31. Slide 31: Appendix

    Appendix 31

  32. Slide 32: Consolidated Statements of Loss

    Consolidated Statements of Loss (in thousands of US dollars, except share and per share data) 32 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  33. Slide 33: Consolidated Statements of Loss

    Consolidated Statements of Loss (in thousands of US dollars) 33 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  34. Slide 34: 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

  35. Slide 35: 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

  36. Slide 36: 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

  37. Slide 37: Consolidated Statements of Financial Position

    Consolidated Statements of Financial Position (in thousands of US dollars) 37 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  38. Slide 38: Consolidated Statements of Cash Flows

    Consolidated Statements of Cash Flows (in thousands of US dollars, unaudited) 38 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2026

  39. Slide 39: 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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