Coveo Narrows Its Fiscal Q2 Loss as Generative AI Drives 35% of New Business-November 2024-www.financetom.com

Coveo Narrows Its Fiscal Q2 Loss as Generative AI Drives 35% of New Business

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Coveo Narrows Its Fiscal Q2 Loss as Generative AI Drives 35% of New Business

Oct 30, 2025 2:22 PM

04:49 PM EDT, 10/30/2025 (MT Newswires) -- Coveo Solutions ( CVOSF ) on Thursday said its fiscal second-quarter loss narrowed on higher revenue.

The artificial-intelligence company said it lost US$4.4 million in the quarter ended Sept.30, narrowing from a loss of US$5.4 million loss a year earlier. Per-share results were not disclosed.

Revenue for the quarter rose 14% to US$37.3 million from US$32.7 million a year earlier, topping the US$36.9 million consensus estimate compiled by FactSet.

In its third-quarter outlook, the company said it expects revenue between US$37.1 million and US$37.6 million, and full-year revenue between US$147.5 million and US$148.5 million.

Coveo said generative AI solutions continued to drive strong performance, representing over 35% of total new business bookings for the quarter.

"Our customers see industry leading results when they integrate our platform into their AI strategies," said chief executive Laurent Simoneau, "The momentum in our core growth drivers and the expansion of our customer relationships underscore Coveo's long-term growth opportunity."

The company said Pranshu Tewari will join as chief marketing officer effective Nov. 10. Tewari brings more than 25 years of global marketing experience, including over a decade in enterprise B2B SaaS, most recently as chief marketing officer at Mendix, a Siemens AG subsidiary. Coveo also said chief operating officer John Grosshans will leave the company effective Nov. 1 to pursue another opportunity.

Coveo's shares closed down $0.12 to $8.01 on the Toronto Stock Exchange.

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