A close look at Coveo's October 29 quarterly disclosure and acquisition terms, newly added to CDN News's company and markets coverage.
The company's latest quarterly numbers
Montréal-based Coveo, listed on the TSX under CVO, reported US$40.4 million of revenue for the three months ended September 30, 2026, versus US$37.3 million a year earlier, an 8% increase. Its SaaS subscription revenue reached US$39.1 million, up 9% from US$35.9 million. The company reported a net loss of US$3.1 million, narrower than the US$4.4-million loss in the comparable period. Those figures were released October 29, not on the Sunday of this article's publication, and are in U.S. dollars.
Profitability metrics tell different stories
Coveo's company-reported adjusted EBITDA rose to US$2.0 million from approximately US$0.6 million, while the gross margin reached 80%, up from 79%. Adjusted EBITDA is a non-IFRS measure and should not be confused with profit or cash generation. Cash used in operating activities rose to US$14.9 million in the quarter, compared with US$10.8 million a year before. The difference matters for investors weighing the company's revenue growth against its ongoing cash requirements.
A deal focused on data for AI shopping
In a separate October 29 release, Coveo announced its acquisition of Anglera, a San Francisco company backed by Y Combinator that uses AI to extract and verify product attributes from specifications, documents and images. Coveo says the technology will complement its search and recommendation products for retailers and industrial distributors. Financial consideration for the transaction was not disclosed, so the deal cannot responsibly be assigned a purchase price or immediate earnings contribution. Claims of performance improvements in Anglera trials were company-reported, not independently audited in the documents reviewed.
What to watch next
Management said two customers signed contracts worth seven figures per year during the quarter, contributing to record new bookings. Future revenue conversion, retention, integration costs and cash flow remain important tests. This is a dated examination of new corporate filings and strategy—not a claim that shares traded Sunday or that the acquisition itself guarantees gains. The TSX resumes its regular schedule after the weekend, subject to exchange trading calendars.
Sources & transparency
Coveo investor relations — fiscal 2027 second-quarter results, October 29Coveo investor relations — Anglera acquisition announcement, October 29Original CDN News coverage. Sources are linked for reference.
Request a correction
