Gloo Holdings, Inc. (Nasdaq: GLOO), a leading technology platform for the faith and flourishing ecosystem, today announced financial results for the quarter ended July 31, 2026. The company also gave third quarter revenue and Adjusted EBITDA guidance and raised fiscal year 2026 revenue guidance to $200 million.
“Our second quarter results show that our strategy is on track,” said Scott Beck, co-founder and CEO of Gloo. “Organizations in the faith and flourishing ecosystem want a partner who deeply understands their mission and their needs. More of these great organizations are trusting their business to Gloo and our Capital Partners every quarter. As these organizations transform millions of lives for good, we could not be more honored to serve them.”
Second Quarter Fiscal 2026 Financial Highlights
- Total revenue for the second quarter was $46.6 million, representing 188% growth compared to the prior-year period, exceeding guidance of $44.0 million and again beating analyst consensus.
- Net loss narrowed to $21.2 million, compared to a net loss of $44.1 million in the second quarter of fiscal 2025.
- Adjusted EBITDA was negative $8.3 million, beating guidance of negative $8.5 million and analyst consensus of negative $8.6 million. This compares to negative $11.5 million in the first quarter of fiscal 2026, a sequential improvement of $3.2 million and the third consecutive quarter of sequential Adjusted EBITDA improvement.
- Subsequent to quarter close, Gloo extended the term of its senior secured loan of $13.2 million by one year to April 2028, providing the company with additional flexibility in 2027.
“We’ve improved our financial performance every quarter as a public company, reflecting consistent execution and increasing operating leverage,” said Paul Seamon, CFO of Gloo. “Our full-year outlook more than doubles revenue from the prior year, with operating expenses expected to remain approximately flat in absolute dollars. This demonstrates that we can integrate new capabilities, support continued growth and advance toward profitability without building a proportionately larger cost base. We continue to expect to approach Adjusted EBITDA break-even in the third quarter and achieve Adjusted EBITDA profitability in the fourth quarter of fiscal 2026.”
Business Highlights
Growing Traction with Enterprise Customers
Faith and flourishing organizations are part of a large market growing at more than double the pace of annual US GDP. Gloo’s integrated platform is well matched to the needs of this historically fragmented and underserved market, combining the ability to power organizations’ technology with the ability to power their reach. Together, these capabilities address two persistent needs across the ecosystem: operating more effectively and expanding the ability to connect with, engage and serve more people.
Highlights include:
- Gloo now has over 30 customers each generating $1M+ in annual contract value and, in the second quarter, the company reached an important milestone with its first customer exceeding $10M in annual contract value.
- These relationships include large faith-aligned, social service and youth-serving organizations, demonstrating continued expansion beyond Gloo’s historic customer base.
- Universities continue to emerge as a meaningful growth vertical, with over forty universities that Gloo is serving. This includes Indiana Wesleyan University, Jessup University, the University of Northwestern and Whitworth University. The company expects continued momentum in this segment throughout the rest of the year and beyond.
Growing Trust and Cross Platform Engagement
Organizations in the faith and flourishing ecosystem are under increasing pressure to modernize technology, operate more efficiently, strengthen donor development and scale their missions. As customers see the value of the Gloo platform, organizations are increasingly adopting solutions across multiple Gloo business units and Gloo’s consolidated subsidiaries and equity method investments ("Capital Partners"), especially as Gloo continues to add new capabilities.
Highlights include:
- A growing number of Gloo’s largest customers, including many $1M+ customers, have now adopted solutions from multiple Gloo Capital Partners. This cross-platform engagement expands the value Gloo can deliver to each organization and creates a foundation for durable, long-term revenue growth.
- Since its public market debut, Gloo has announced five strategic acquisitions: XRI Global, Westfall Group, Enterprisemarketdesk, its remaining ownership stake in Midwestern Interactive, and Cedarstone. Each adds new capabilities as well as specialized expertise, customer relationships and reach that further strengthens Gloo’s integrated platform.
- In the second quarter, Gloo completed its acquisition of Enterprisemarketdesk, a well-known Workday services partner, and announced plans to acquire the remaining stake of Midwestern, a prominent talent partner for the faith and flourishing ecosystem. The Midwestern transaction was completed in August 2026.
- In August 2026, Gloo also announced and closed its acquisition of Cedarstone, an integrated business services firm that specializes in delivering finance and development outsourcing services.
Growing Value of AI
AI continues to be a significant tailwind, as Gloo expands its Applied AI capabilities and helps organizations deploy AI in practical, trusted ways across their operations. Gloo is bringing the power of agentic workflows to organizations in areas like donor engagement, project management, and help desk automation, giving customers better insights into their businesses, while reducing repetitive administrative work and allowing them to focus more on mission-aligned outcomes.
Highlights include:
- On September 8, the company announced Gloo Code, a new agentic building capability within Gloo AI Studio. Gloo Code helps developers get more from their tokens by pairing purpose-built agents with the right model for each task.
- The company also continues preparations for its fourth annual Gloo AI Hackathon, scheduled for October 6-8, 2026, in Boulder, Colorado. The event is expected to bring together hundreds of developers, engineers and mission-driven builders to create AI-powered solutions that advance human flourishing and accelerate Applied AI adoption across the ecosystem.
Fiscal Year 2026 Outlook
Gloo expects third-quarter revenue to be $55 million, representing an increase of 69% compared with the prior-year period. Adjusted EBITDA is expected to be negative $3.5 million for the third quarter of 2026, representing continued sequential improvement and in-line with the company’s expectation to approach break-even. For fiscal year 2026, Gloo is raising revenue guidance to $200 million.
The company remains confident in achieving Adjusted EBITDA profitability in the fourth quarter of 2026.
Gloo has not provided a reconciliation of its forward outlook for Adjusted EBITDA to its most directly comparable GAAP financial measure in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. Gloo is unable to predict with reasonable certainty the amount and timing of adjustments used to calculate this non-GAAP financial measure, particularly those related to interest expense, changes in the fair value of certain financial instruments, equity-based compensation, employee stock transactions and related tax effects.
Conference Call Information
Gloo will conduct a conference call with analysts and investors to discuss its second quarter 2026 financial results and current financial prospects on Wednesday, September 9, 2026 at 5 p.m. ET. Participants may access the conference call via webcast using the Gloo Webcast Link. The webcast will be recorded and available for replay. The link and recording will also be available on the Investor Relations section of the Gloo website at investors.gloo.com.
About Gloo
Gloo (Nasdaq: GLOO) is a leading technology platform serving the faith and flourishing ecosystem. Gloo helps missional organizations amplify their impact by powering their technology and expanding their reach, so that people flourish and organizations thrive. The company’s values-aligned AI platform modernizes systems, workflows and data, while its marketing and donor solutions expand reach, awareness and long-term giving for mission-based organizations. Based in Boulder, Colorado, Gloo serves over 140,000 faith, ministry, and nonprofit leaders.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding our growth prospects, our ability to achieve Adjusted EBITDA profitability, our expectations regarding future operating expenses, the impact of AI on the faith and flourishing sector and on our business and growth prospects, the anticipated benefits, capabilities or outcomes of our products and offerings, market share gains and the size and growth rate of our addressable market, our acquisition strategy and business initiatives, customer relationships and contracts, and our outlook for the third quarter and fiscal year 2026. Forward-looking statements include statements containing words such as “expect,” “anticipate,” “believe,” “project,” “will,” “intend,” “estimate,” “may,” and similar expressions intended to identify forward-looking statements, regardless of whether such words explicitly appear in the statement itself. These forward-looking statements are based on our current expectations. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors. Some of these risks are described in greater detail in our Annual Report on Form 10-K for the year ended January 31, 2026, filed with the Securities and Exchange Commission (the “SEC”) on April 15, 2026, and in the other documents we file with the SEC from time to time, including our Quarterly Report on Form 10-Q for the quarter ended July 31, 2026, which we expect to file with the SEC following the date of this press release. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements we may make. These factors may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not rely on these statements or regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Financial Measures
To supplement its condensed consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), Gloo has provided in this press release and the accompanying tables the following non-GAAP financial measures: Adjusted EBITDA.
Gloo uses Adjusted EBITDA to evaluate its core operating performance, support planning and forecasting, and assess strategic opportunities. In addition, Gloo may use Adjusted EBITDA in its incentive compensation programs applicable to some of its employees. Accordingly, Gloo believes that Adjusted EBITDA may provide useful information to investors about its business and financial performance, enhance its overall understanding of our past performance and future prospects, and allow for greater transparency with respect to this measure used by Gloo management in their financial and operational decision making.
Adjusted EBITDA is defined as net loss adjusted to exclude (1) interest expense, (2) income tax expense (benefit), (3) depreciation and amortization, (4) equity-based compensation, (5) impairment of goodwill, (6) loss (gain) from change in fair value of financial instruments, (7) financing and restructuring costs, (8) loss on extinguishment of debt, (9) income (loss) from equity method investments, net, (10) interest income, (11) offering related costs, (12) one-time employee tax credit, and (13) opening balance sheet adjustment subsequent to the measurement period, that are not reflective of Gloo's core operating results.
The non-GAAP financial measures included in this press release are not measurements of financial performance under U.S. GAAP and they should not be considered as alternatives to or substitutes for measures of performance derived in accordance with U.S. GAAP. In addition, these non-GAAP measures should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-routine items. These non-GAAP measures have limitations as analytical tools, and investors should not consider such measures either in isolation or as substitutes for analyzing the Company’s results as reported under U.S. GAAP. The Company’s definitions and calculations of these non-GAAP measures are not necessarily comparable to other similarly titled measures used by other companies due to different methods of calculation. Investors are encouraged to review the most directly comparable GAAP measure and the Company's condensed consolidated financial statements and related notes included in Part II, Item 8 of the Annual Report on Form 10-K for the year ended January 31, 2026, and in the unaudited condensed consolidated financial statements and related notes included in Part I, Item 1 of the Quarterly Report on Form 10-Q for the quarter ended July 31, 2026, which Gloo expects to file with the SEC following the date of this press release.
Gloo Holdings, Inc. | ||||||||||
Consolidated Balance Sheets | ||||||||||
(unaudited) | ||||||||||
July 31, | January 31, | |||||||||
2026 | 2026 | |||||||||
(in thousands, except share and unit data) | ||||||||||
ASSETS | ||||||||||
Current assets: | ||||||||||
Cash and cash equivalents | $ | 39,282 | $ | 57,307 | ||||||
Restricted cash | 256 | 255 | ||||||||
Accounts receivable, net of allowance for credit losses of $76 and $75, respectively | 18,260 | 10,697 | ||||||||
Inventory, net | 1,102 | 1,397 | ||||||||
Contract assets | 726 | 1,259 | ||||||||
Prepaid expenses and other current assets | 7,827 | 4,689 | ||||||||
Total current assets | 67,453 | 75,604 | ||||||||
Property and equipment, net | 4,881 | 4,166 | ||||||||
Capitalized software, net | 32,113 | 30,078 | ||||||||
ROU operating lease asset | 7,339 | 8,705 | ||||||||
Long-term investments | 1,258 | 100 | ||||||||
Other non-current assets | 378 | 370 | ||||||||
Intangible assets, net | 38,392 | 37,283 | ||||||||
Goodwill | 119,320 | 107,353 | ||||||||
Total assets | $ | 271,134 | $ | 263,659 | ||||||
LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY | ||||||||||
Current liabilities: | ||||||||||
Accounts payable | $ | 10,154 | $ | 9,356 | ||||||
Accrued compensation | 10,627 | 8,397 | ||||||||
Accrued liabilities | 6,737 | 6,414 | ||||||||
Acquisition-related liabilities, current | 2,292 | 2,056 | ||||||||
Deferred revenue | 18,072 | 14,581 | ||||||||
Debt, current | 5,121 | 5,812 | ||||||||
Lease liabilities, current | 1,948 | 1,925 | ||||||||
Total current liabilities | 54,951 | 48,541 | ||||||||
Acquisition-related liabilities, non-current | 709 | 1,346 | ||||||||
Debt, non-current | 32,295 | 29,485 | ||||||||
Lease liabilities, non-current | 5,700 | 7,076 | ||||||||
Derivative liability | 501 | 399 | ||||||||
Deferred income taxes | 2,937 | 4,353 | ||||||||
MW Call Option | 12,540 | 12,858 | ||||||||
Other non-current liabilities | 1,914 | 1,919 | ||||||||
Total liabilities | 111,547 | 105,977 | ||||||||
Mezzanine Equity: | ||||||||||
Redeemable NCI | 3,764 | 3,559 | ||||||||
Total mezzanine equity | 3,764 | 3,559 | ||||||||
Stockholders' Equity: | ||||||||||
Class A, $0.001 par value, 5,000,000,000 shares authorized, and 38,541,604 issued and outstanding as of July 31, 2026 and 11,405,352 as of January 31, 2026 | 39 | 11 | ||||||||
Class B, $0.001 par value, 100,000,000 shares authorized, 51,816,158 issued and 51,517,323 outstanding as of July 31, 2026 and 69,465,772 issued and 69,166,937 outstanding as of January 31, 2026 | 52 | 70 | ||||||||
Treasury stock, at cost; 298,835 Class B shares as of July 31, 2026 and January 31, 2026 | (3,771 | ) | (3,771 | ) | ||||||
Additional paid-in capital | 218,912 | 178,619 | ||||||||
Accumulated deficit | (78,250 | ) | (40,119 | ) | ||||||
Accumulated other comprehensive income | 182 | 364 | ||||||||
Equity attributable to stockholders | 137,164 | 135,174 | ||||||||
Equity attributable to noncontrolling interests | 18,659 | 18,949 | ||||||||
Total stockholders' equity | 155,823 | 154,123 | ||||||||
Total liabilities, mezzanine equity, and stockholders' equity | $ | 271,134 | $ | 263,659 | ||||||
Gloo Holdings, Inc. | |||||||||||||||
Consolidated Statements of Operations | |||||||||||||||
(unaudited) | |||||||||||||||
Three Months Ended
|
Six Months Ended
| ||||||||||||||
2026 | 2025 | 2026 | 2025 | ||||||||||||
(in thousands, except share, per share, unit, and per unit data) | |||||||||||||||
Revenue: | |||||||||||||||
Platform revenue | $ | 23,643 | $ | 8,746 | $ | 47,755 | $ | 17,241 | |||||||
Platform solutions revenue | 22,930 | 7,427 | 40,348 | 11,234 | |||||||||||
Total revenue | 46,573 | 16,173 | 88,103 | 28,475 | |||||||||||
Operating expenses: | |||||||||||||||
Cost of revenue (exclusive of depreciation and amortization) | 29,796 | 12,094 | 57,897 | 20,968 | |||||||||||
Product development | 7,113 | 5,018 | 11,008 | 10,730 | |||||||||||
Sales and marketing | 10,857 | 8,499 | 20,484 | 15,823 | |||||||||||
General and administrative | 15,640 | 12,264 | 30,860 | 22,206 | |||||||||||
Depreciation and amortization | 3,668 | 2,673 | 7,095 | 5,200 | |||||||||||
Total operating expenses | 67,074 | 40,548 | 127,344 | 74,927 | |||||||||||
Operating loss | (20,501 | ) | (24,375 | ) | (39,241 | ) | (46,452 | ) | |||||||
Other (income) expense: | |||||||||||||||
Interest expense | 826 | 3,251 | 1,803 | 6,003 | |||||||||||
Other income, net | (226 | ) | (52 | ) | (1,297 | ) | (473 | ) | |||||||
(Gain) loss from change in fair value of financial instruments | 534 | 8,246 | (216 | ) | 11,436 | ||||||||||
Loss on extinguishment of debt | — | 7,473 | — | 7,473 | |||||||||||
Total other (income) expense, net | 1,134 | 18,918 | 290 | 24,439 | |||||||||||
Net loss before income taxes | (21,635 | ) | (43,293 | ) | (39,531 | ) | (70,891 | ) | |||||||
Income tax benefit (expense) | 470 | 326 | 1,315 | 293 | |||||||||||
Income from equity method investments, net | — | (1,133 | ) | — | (460 | ) | |||||||||
Net loss | (21,165 | ) | (44,100 | ) | (38,216 | ) | (71,058 | ) | |||||||
Less: net loss attributable to noncontrolling interests | 142 | (751 | ) | (85 | ) | (1,307 | ) | ||||||||
Net loss attributable to stockholders and members of Gloo Holdings, Inc. and Gloo Holdings, LLC, respectively | $ | (21,307 | ) | $ | (43,349 | ) | $ | (38,131 | ) | $ | (69,751 | ) | |||
Net loss per share attributable to common stockholders of Gloo Holdings, Inc. (Class A and Class B) and units of members of Gloo Holdings, LLC, respectively | $ | (0.25 | ) | $ | (6.45 | ) | $ | (0.47 | ) | $ | (10.40 | ) | |||
Weighted-average common shares (Class A and Class B) of Gloo Holdings, Inc. and units of Gloo Holdings, LLC used to compute net loss per share and unit, respectively, basic and diluted | 84,096,399 | 8,217,024 | 81,406,063 | 8,217,024 | |||||||||||
Gloo Holdings, Inc. Consolidated Statements of Cash Flows (unaudited) | |||||||||
Six Months Ended
| |||||||||
2026 | 2025 | ||||||||
(in thousands) | |||||||||
Operating activities: | |||||||||
Net loss | $ | (38,216 | ) | $ | (71,058 | ) | |||
Adjustments to reconcile net loss attributable to common stockholders and members to net cash used in
| |||||||||
Equity-based compensation expense | 6,768 | 3,275 | |||||||
Depreciation and amortization | 7,095 | 5,200 | |||||||
Amortization of deferred financing costs | 359 | 1,247 | |||||||
Provision for expected credit losses | 445 | 479 | |||||||
Lease expense | 903 | 862 | |||||||
Deferred income taxes | (601 | ) | (360 | ) | |||||
(Gain) loss from change in fair value of financial instruments | (216 | ) | 11,436 | ||||||
Loss from equity method investments, net | — | 106 | |||||||
Loss on extinguishment of debt | — | 7,473 | |||||||
Loss on sale/disposal of PPE | 2 | — | |||||||
Inventory reserve | (169 | ) | — | ||||||
Abandonment of capital software | 190 | — | |||||||
Debt assumed through PIK interest | 240 | 41 | |||||||
Changes in operating assets and liabilities, net of acquisitions: | |||||||||
Accounts receivable | (4,905 | ) | (1,385 | ) | |||||
Prepaid expenses and other current assets | (2,095 | ) | 232 | ||||||
Other non-current assets | (817 | ) | (4,478 | ) | |||||
Accounts payable | 440 | 4,281 | |||||||
Accrued expenses and other current liabilities | 1,631 | 163 | |||||||
Deferred revenue | 884 | (1,134 | ) | ||||||
Other non-current liabilities | 103 | (606 | ) | ||||||
Net cash used in operating activities | (27,959 | ) | (44,226 | ) | |||||
Investing activities: | |||||||||
Purchases of property and equipment | (1,381 | ) | (520 | ) | |||||
Capitalized internal-use software costs | (5,886 | ) | (6,447 | ) | |||||
Purchase of investments | (100 | ) | — | ||||||
Acquisitions, net of cash acquired | (3,021 | ) | (3,765 | ) | |||||
Net cash used in investing activities | (10,388 | ) | (10,732 | ) | |||||
Financing activities: | |||||||||
Payments on debt | (2,722 | ) | (24 | ) | |||||
Proceeds from debt | — | 56,950 | |||||||
Payments of deferred financing costs | — | (73 | ) | ||||||
Payment of acquisition related liabilities | (706 | ) | — | ||||||
Proceeds from exercise of common stock and common unit options | 88 | 64 | |||||||
Proceeds from Member Advances received | — | 6,700 | |||||||
Proceeds from Series A Preferred Units issuance | — | 600 | |||||||
Proceeds from issuance of Class A common stock upon follow on offering, net of underwriting discounts and commissions and other offering costs | 23,677 | — | |||||||
Net cash provided by financing activities | 20,337 | 64,217 | |||||||
Effect of exchange rate changes on cash and cash equivalents | (14 | ) | (260 | ) | |||||
Net decrease in cash, cash equivalents and restricted cash | (18,024 | ) | 8,999 | ||||||
Cash, cash equivalents, and restricted cash | |||||||||
Beginning of period | 57,562 | 13,844 | |||||||
End of period | $ | 39,538 | $ | 22,843 | |||||
Supplemental disclosures of cash flow information: | |||||||||
Cash paid for interest | $ | 1,043 | $ | 2,750 | |||||
Cash paid for taxes, net of refunds | 55 | — | |||||||
Supplemental disclosure of non-cash investing and financing activity: | |||||||||
Conversion of accounts receivable to investments | 1,058 | — | |||||||
Modification of operating leases | 459 | — | |||||||
ROU assets obtained in acquisitions | — | 2,206 | |||||||
ROU assets obtained in exchange for new lease liabilities | — | 1,315 | |||||||
Gloo Holdings, Inc. | |||||||||||||||||
GAAP to Non-GAAP Reconciliation | |||||||||||||||||
(unaudited) | |||||||||||||||||
| The following table provides a reconciliation of our non-GAAP financial measure to its most directly comparable GAAP financial measure for the periods presented: | |||||||||||||||||
Three Months Ended
|
Six Months Ended
| ||||||||||||||||
2026 | 2025 | 2026 | 2025 | ||||||||||||||
(in thousands) | |||||||||||||||||
Net loss attributable to common stockholders and members | $ | (21,307 | ) | $ | (43,349 | ) | $ | (38,131 | ) | $ | (69,751 | ) | |||||
Net loss attributable to noncontrolling interests | 142 | (751 | ) | (85 | ) | (1,307 | ) | ||||||||||
Net loss | (21,165 | ) | (44,100 | ) | (38,216 | ) | (71,058 | ) | |||||||||
Adjusted to exclude: | |||||||||||||||||
Interest expense | 826 | 3,251 | 1,803 | 6,003 | |||||||||||||
Income tax (benefit) expense | (470 | ) | (326 | ) | (1,315 | ) | (293 | ) | |||||||||
Depreciation and amortization | 3,668 | 2,673 | 7,095 | 5,200 | |||||||||||||
Equity-based compensation | 3,019 | 1,840 | 6,768 | 3,275 | |||||||||||||
(Gain) loss from change in fair value of financial instruments | 534 | 8,246 | (216 | ) | 11,436 | ||||||||||||
Financing and restructuring costs | 4,375 | 868 | 4,448 | 1,370 | |||||||||||||
Loss from equity method investments, net | — | 1,133 | — | 460 | |||||||||||||
Interest income | (168 | ) | (72 | ) | (537 | ) | (133 | ) | |||||||||
Offering related costs | 1,072 | — | 1,072 | — | |||||||||||||
Loss on extinguishment of debt | — | 7,473 | — | 7,473 | |||||||||||||
One-time employee tax credit | — | — | (1,191 | ) | — | ||||||||||||
Opening balance sheet adjustment subsequent to the measurement period | — | — | 471 | — | |||||||||||||
Other | — | — | — | 18 | |||||||||||||
Adjusted EBITDA | $ | (8,309 | ) | $ | (19,014 | ) | $ | (19,818 | ) | $ | (36,249 | ) | |||||
1 Consensus source: FactSet
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