Slide 1: Q2 Fiscal 2026 Financial Results
Q2 Fiscal 2026 Financial Results x For the three and six months ended September 30, 2025 October 30, 2025
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 20, 2025 (the “AIF”), as well as in our condensed interim consolidated financial statements (unaudited)
Slide 3: Overview
Overview Louis Têtu Executive Chairman, Coveo
Slide 4: AI radically transforms all digital experiences
AI radically transforms all digital experiences Traditional digital experiences AI-powered digital experiences are about efficiency and automation are about proficiency and augmentation What happens when people can do more, faster? What happens when people can do more on their own? Hyper-personalize
Slide 5: SAP avoided 1.6 Million support cases
With Coveo, SAP reported avoiding 1.6 Million support cases 5 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2024
Slide 6: Realizing Significant Results with Coveo’s GenAI
Realizing Significant Results with Coveo’s GenAI Self-service Success Improvement (1) Searches per Visit Decrease (1) Large US Airline Multinational Tech Co Large Fin. Services Co. ~80% 11% 14% 19% 35% 20% Self-service success Results achieved through a Achieved within the For sessions with search w
Slide 7: Agentforce + Coveo
Agentforce + Coveo Solving for Enterprise Complexity Together Enterprise requirements to address inherent complexity can slow Agentforce adoption. Coveo’s proven strengths in scale, retrieval, and speed-to-value break through those barriers to accelerate Combined with Agentforce, success. Coveo supp
Slide 8: Why / How: Coveo technology platform
Commerce Websites Service Workplace Why Engagement Apps SEARCH RESULTS, RECOMMENDATIONS, ANSWERS Multi-step Agentic Orchestrators ACTIONS Enterprises must deliver modern, unified, hyper-personalized UNIFIED AI-RELEVANCE and precise generative content SEARCH & GENERATIVE AGENTIC experiences, leveragi
Slide 9: Q2 Performance Highlights
Q2 Performance Highlights Laurent Simoneau Co-Founder & CEO, Coveo
Slide 10: Q2 FY’26 at a glance
Q2 FY’26 at a glance (2) $35.9M 17% 105% (2) Q2 FY’26 SaaS Q2 FY’26 SaaS Net Expansion Rate(1) (Coveo Core Platform) Subscription Subscription as of September 30, 2025 Revenue(1) Revenue(1) Growth (Coveo Core Platform) (1) SaaS Subscription Revenue and Net Expansion Rate are key performance indicato
Slide 11: Coveo Takes Agentforce to the Next Level
When we combined Agentforce with Coveo, the results were on another level. Our internal testers went from saying, ‘this is okay’ to literally saying ‘wow.’ The multiplier effect of bringing the two solutions together was incredible — consistently returning responses that truly amazed our team. — Joy
Slide 12: Commerce remains our fastest growing use case
Commerce We are uniquely positioned remains our Leadership position in to lead at the convergence of fastest B2B Commerce Commerce & Knowledge growing use case Commerce Select Q2 Customer Wins contributed Coveo received ~50% SAP® Global Customer of Q2 new business bookings Experience Award for of wh
Slide 13: Continued Generative AI Momentum
Q2 Update: Continued Generative AI Momentum Select Customer Wins + Expansions Generative AI contributed +2.5x >35% customers and revenue growth of new business bookings 13 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
Slide 14: CMO Hire
CMO Hire Pranshu Tewari ▪ Previously CMO & Head of Rev Ops at Mendix (acquired by Siemens) ▪ 15 years at Dell, was Global VP of Marketing for Dell Software Group ▪ Starting November 10, 2025 14 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2024
Slide 15: Q2 Financial Highlights
Q2 Financial Highlights Brandon Nussey Chief Financial Officer, Coveo
Slide 16: Q2 FY’26 at a glance
Q2 FY’26 at a glance (2) $35.9M 17% (2) 105% Q2 FY’26 SaaS Q2 FY’26 SaaS Subscription Net Expansion Rate(1) Subscription Revenue(1) Revenue(1) Growth (Coveo Core Platform) (Coveo core Platform) as of September 30, 2025 $0.6M Q2 FY’26 Adjusted EBITDA(3) 82% ($10.8M) Q2 FY’26 Product Q2 FY’26 Cash Flo
Slide 17: Revenue Growth
Revenue Growth USD millions Q2 FY’26 Q2 FY’25 YoY YTD FY’26 YTD FY’25 YoY SaaS Subscription Revenue(1) $35.9 $31.2 15% $70.1 $61.7 13% Coveo core Platform(2) $35.0 $29.9 17% $68.1 $58.6 16% Qubit Platform(3) $0.9 $1.2 (24%) $2.0 $3.1 (37%) Professional Services Revenue $1.4 $1.6 (8%) $2.8 $3.2 (12%)
Slide 18: Gross Profit Measures
Gross Profit Measures % Q2 FY’26 Q2 FY’25 YTD FY’26 YTD FY’25 Gross Margin 79% 79% 78% 79% Adjusted Gross Margin(1) 80% 80% 79% 80% Product Gross Margin 82% 82% 81% 82% Adjusted Product Gross 83% 83% 82% 82% Margin(1) (1) Adjusted Gross Margin and Adjusted Product Gross Margin are non-IFRS financial
Slide 19: Profitability Measures
Profitability Measures USD millions Q2 FY’26 Q2 FY’25 YTD FY’26 YTD FY’25 Net loss ($4.4) ($5.4) ($19.4) ($11.5) Adjusted EBITDA(1) $0.6 $1.5 ($1.4) ($0.2) Cash Flow from Operating ($10.8) $1.4 ($3.7) $4.5 Activities Quarterly cash flow from operating activities is impacted by the timing of working
Slide 20: Q3 FY’26 and Full Year Guidance
Q3 FY’26 and Full Year Guidance USD millions Q3 FY’26 Full Year FY’26 SaaS Subscription Revenue(1) $35.7 – $36.2 $141.5 – $142.5 Total Revenue $37.1 – $37.6 $147.5 – $148.5 Adjusted EBITDA(2) Approximately breakeven Approximately breakeven The company expects to deliver positive operating cash flows
Slide 21: Q&A Session
Q&A Session 21 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
Slide 22: Appendix
Appendix 22 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
Slide 23: Condensed Consolidated Interim Statements of Loss
Condensed Consolidated Interim Statements of Loss (in thousands of US dollars, except share and per share data, unaudited) 23 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
Slide 24: Condensed Consolidated Interim Statements of Loss
Condensed Consolidated Interim Statements of Loss (in thousands of US dollars, unaudited) 24 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
Slide 25: Reconciliation of Net Loss to Adjusted EBITDA
Reconciliation of Net Loss to Adjusted EBITDA (in thousands of US dollars, unaudited) 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), adjuste
Slide 26: 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, unaudited) Adjusted Gross Profit, Adjusted Product Gross Profit, and Adjusted Professional Services Gross Profit are respectively defined as gross profit, product gross profit, and profes
Slide 27: Reconciliation of Adjusted Operating Expense Measures
Reconciliation of Adjusted Operating Expense Measures and Adjusted Operating Expense (%) Measures (in thousands of US dollars, unaudited) “Adjusted Sales and Marketing Expenses”, “Adjusted Research and Product Development Expenses”, and “Adjusted General and Administrative Expenses” are respectively
Slide 28: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position (in thousands of US dollars, unaudited) 28 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
Slide 29: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (in thousands of US dollars, unaudited) 29 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
Slide 30: 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
Slide 31: The AI-Relevance Company
The AI-Relevance Company 31 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025