Coveo Solutions (TSE:CVO) Announces Earnings Results

Coveo Solutions (TSE:CVO) posted its quarterly earnings results on Thursday. The company reported C($0.11) earnings per share for the quarter, FiscalAI reports. The company had revenue of C$52.18 million for the quarter. Coveo Solutions had a negative return on equity of 7.97% and a negative net margin of 8.74%.

Here are the key takeaways from Coveo Solutions’ conference call:

• Record bookings: Coveo reported the strongest subscription and net bookings in company history and reaffirmed fiscal 2026 guidance, now expecting SaaS subscription and total revenue at the top end of prior ranges.
• Q3 results beat guidance with fast subscription revenue of $36.6M and total revenue of $38M, product gross margins near 80%, about $100.8M in cash with no debt, and adjusted EBITDA roughly break-even after a $1.4M one-time severance.
• Platform momentum and partnerships accelerated product reach — launches like RAG as a Service and MCP Server plus integrations with ChatGPT Enterprise, AWS Agentic Services and a Deloitte partnership broaden Coveo’s role as a relevance/grounding layer for Agentic AI.
• Strong customer traction and expansion across verticals: a largest-ever seven-figure Fortune 500 industrial win, major commerce expansions (e.g., Cardinal Health), and top-20 customers showing ~150% three-year net expansion, highlighting stickiness and opportunity in industrials and financial services.

Coveo Solutions Stock Performance

Shares of CVO stock opened at C$6.16 on Friday. Coveo Solutions has a 52 week low of C$4.92 and a 52 week high of C$9.53. The company has a market capitalization of C$590.64 million, a price-to-earnings ratio of -26.78, a PEG ratio of 0.09 and a beta of 1.16. The company has a 50-day simple moving average of C$6.49 and a 200 day simple moving average of C$7.58. The company has a debt-to-equity ratio of 5.36, a quick ratio of 3.14 and a current ratio of 1.85.

Analysts Set New Price Targets

Several research firms recently weighed in on CVO. Stifel Nicolaus decreased their target price on shares of Coveo Solutions from C$15.00 to C$13.00 in a research note on Friday, October 31st. Natl Bk Canada cut shares of Coveo Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Canaccord Genuity Group lowered their price objective on shares of Coveo Solutions from C$13.00 to C$11.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$11.10.

About Coveo Solutions

Coveo Solutions Inc is an AI-powered platform. It provides applied AI solutions enabling enterprises to deliver relevant digital experiences at scale. The company’s solutions provide value to its customers by helping drive revenue growth, reduce customer support costs, increase customer satisfaction and website engagement, and improve employee proficiency and satisfaction.