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Coveo Solutions Inc T.CVO

Alternate Symbol(s):  CVOSF

Technology Software - Application
Coveo Solutions Inc. is an enterprise software-as-a-service (SaaS) company. The Company is engaged in applied artificial intelligence (AI), enabling businesses to personalize and profitize every experience at scale. The Company’s Coveo Relevance Cloud platform is an AI platform that combines AI search, AI recommendations, GenAI answering, AI models and analytics. Its platform drives personalization and merchandising intelligence in digital experiences across commerce, service, Website, and workplace applications. The Coveo Relevance Cloud is a cloud-native, multi-tenant, application programming interface (API)-first, SaaS platform that offers various out-of-the-box user interface (UI) integrations, as well as Coveo Headless for custom integrations, and support for over 100+ source types via native, generic, and custom-built connectors. The Company serves customers in the technology, financial services, manufacturing, healthcare, telecommunications, and retail industries.


TSX:CVO - Post by User

Coveo Solutions Inc
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Post by retiredcfon Sep 13, 2023 9:19am
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Post# 35633423

Ink Research

Ink Research

Morning Report: Coveo Solutions CFO buying shares 

September 13, 2023

With Wall Street expected to price the near US$5 billion IPO of semiconductor products company ARM Holdings on Wednesday, we revisit the Canadian technology sector to look at Coveo Solutions (CVO) which has about a $1.1 billion market cap. Coveo operates what it describes as an AI-powered SaaS (software as a service) platform that injects search, recommendations, and personalization solutions into e-commerce, service, website, and workplace applications. Coveo has been climbing up our INK Edge rankings due in part to strong price momentum. The stock is up 23.1% year-to-date.

When Coveo announced Q1 fiscal 2024 (ended June 30, 2023) results on August 8th, revenue came in at US$30.5 million, up from US$26.5 million a year earlier. Coveo reported a net loss of US$7.0 million, an improvement from a loss of US$12.5 million in the comparable period. Coveo highlighted a gross margin of 78%, up 3% from Q1 fiscal 2023. Going forward, Coveo expects Q2 revenue to come in between US$30.8 and US$31.3 million with full-year fiscal 2024 revenue expected to be from US$127.0 million to US$129.0 million. Coveo expects to achieve positive operating cash flow in fiscal 2025.

In March, Coveo announced the appointment of Brandon Nussey as CFO, effective May 1st. Mr. Nussey was buying in August.


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