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Coveo Solutions (TSE:CVO)
TSX:CVO
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Earnings Data
Report Date
Feb 10, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
-C$0.07Last Year’s EPS
-C$0.06Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 7.56%
|Next Earnings Date:Feb 10, 2025
Earnings Call Sentiment|Positive
Coveo demonstrated strong financial performance exceeding guidance, with significant growth in new customers and strategic partnerships enhancing their market position. However, challenges remain with maintaining high NER due to budget constraints in the current enterprise environment.Company Guidance
In the recent earnings call for Coveo's second quarter of fiscal year 2025, the company reported impressive financial performance and exceeded guidance on several key metrics. The SaaS subscription revenue reached $31.2 million, surpassing expectations, with the core Coveo platform contributing $29.9 million, marking an 11% increase from the previous year. The company also achieved $1.4 million in cash flows from operations and improved its adjusted EBITDA to $1.5 million. Coveo's strategy to leverage applied AI and generative AI solutions has shown significant traction, as evidenced by a 50% increase in customers using its relevance-augmented generative answering solution in just 90 days. The company achieved its best quarter for new logo additions in the last two years and maintains a strong financial position with $128.2 million in cash and no debt. Looking forward, Coveo anticipates SaaS subscription revenue for Q3 to be between $31.8 million and $32.3 million, and it remains on track to achieve its annual guidance, expecting to land towards the lower to midpoint of the forecasted range.Exceeded Guidance with Strong Financial Performance
Coveo delivered SaaS subscription revenue of $31.2 million, cash flows from operations of $1.4 million, and adjusted EBITDA of $1.5 million, exceeding their guidance for Q2 2025.
Significant New Customer Growth
The second quarter was the best for new logos in the past two years, with a 50% increase in customers using Coveo's relevance augmented generative answering solution over the last 90 days.
Partnership with Major Platforms
Coveo announced new partnerships with Shopify, AWS, and Optimizely, enhancing its market reach and solution offerings.
Strong Performance in Generative AI
Generative AI solutions represented over 25% of new bookings in the quarter, with significant improvements in customer self-service and cost reduction metrics reported by clients like SAP Concur.
Continued Innovation and Product Enhancement
Launched Relevance-Augmented Passage Retrieval API, expanding their TAM and addressing new market segments.
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TSE:CVO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:CVO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | C$5.95 | C$7.14 | +20.00% |
| Aug 07, 2024 | C$5.85 | C$6.22 | +6.32% |
| Jun 03, 2024 | C$7.34 | C$7.23 | -1.50% |
| Feb 05, 2024 | C$9.98 | C$11.60 | +16.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Coveo Solutions (TSE:CVO) report earnings?
Coveo Solutions (TSE:CVO) is schdueled to report earning on Feb 10, 2025, TBA Not Confirmed.
What is Coveo Solutions (TSE:CVO) earnings time?
Coveo Solutions (TSE:CVO) earnings time is at Feb 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:CVO EPS forecast?
TSE:CVO EPS forecast for the fiscal quarter 2025 (Q3) is -C$0.07.
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