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1. Company Snapshot

1.a. Company Description

Coveo Solutions Inc.provides applied artificial intelligence (AI) solutions.Its cloud-native, multi-tenant software as a service (SaaS) platform is the intelligence layer that injects search, recommendations, and personalization solutions into digital experiences to provide connected relevance for various-use cases across commerce, service, website, and workplace applications.


It serves high tech, healthcare, manufacturing, financial services, and telecommunication industries.Coveo Solutions Inc.has strategic technology partnerships with Adobe, SAP, Salesforce, ServiceNow, Zendesk, Sitecore, AppDirect, and commercetools.


The company was incorporated in 2004 and is headquartered in Quebec, Canada.

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1.b. Last Insights on CVO

Coveo Solutions' recent performance has been driven by several positive factors. The company's Q1 2026 earnings report showed a 10% revenue growth to $35.5m. Additionally, Coveo's AI-Relevance platform was selected by Elite Supplements to power its Shopify commerce experience, supporting hyper-personalized digital journeys. A recent holiday report also highlighted a significant demand for generative AI tools in holiday shopping. Furthermore, Coveo's availability in the new AWS Marketplace AI Agents and Tools category and its partnership expansion with Salesforce and MCP Servers have accelerated AI adoption for enterprises.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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How Analyst Shifts and New AI Developments Are Rewriting the Story for Coveo Solutions

Dec -04

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Coveo Introduces RAG-as-a-Service for AWS Agentic AI Services

Dec -01

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Coveo Accelerates the Future of AI-Driven Digital Experiences in New Alliance with Deloitte

Nov -24

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How Analysts Say the Story Is Changing for Coveo Solutions Amid New Opportunities and Risks

Nov -19

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Undervalued Global Small Caps With Insider Action In November 2025

Nov -10

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Louis Tetu Bought 43% More Shares In Coveo Solutions

Nov -09

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Coveo Raises the Bar on Trust: Earns ISO/IEC 27701 Privacy Certification

Nov -04

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Why Analysts Are Rewriting the Coveo Story After Key Outlook Changes and New Guidance

Nov -03

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.83%)

6. Segments

Software as a Service Subscription

Expected Growth: 4%

Coveo Solutions Inc.'s 4-level growth in Software as a Service (SaaS) subscriptions is driven by increasing demand for AI-powered search and relevance solutions, expansion into new markets, strategic partnerships, and a growing need for digital transformation in various industries.

Professional Services

Expected Growth: 2%

Coveo Solutions Inc.'s Professional Services segment growth is driven by increasing demand for AI-powered search and relevance solutions, expansion into new industries, and strategic partnerships. The company's expertise in cloud-based platforms and machine learning capabilities also contribute to its growth, as clients seek to enhance their digital experiences and improve customer engagement.

Self-managed Licenses and Maintenance

Expected Growth: 1%

Coveo Solutions Inc.'s Self-managed Licenses and Maintenance growth is driven by increasing demand for AI-powered search and relevance solutions, expansion into new industries, and existing customer upselling/cross-selling opportunities. Additionally, the shift towards cloud-based infrastructure and digital transformation initiatives also contribute to this growth.

7. Detailed Products

Coveo Search

A cloud-based search platform that provides AI-powered search, filtering, and recommendation capabilities for various industries.

Coveo for Salesforce

A search and relevance platform that integrates with Salesforce to provide personalized search and recommendation capabilities.

Coveo for Microsoft Dynamics 365

A search and relevance platform that integrates with Microsoft Dynamics 365 to provide personalized search and recommendation capabilities.

Coveo for Sitecore

A search and relevance platform that integrates with Sitecore to provide personalized search and recommendation capabilities for websites and applications.

Coveo AI-Powered Relevance

A machine learning-based relevance engine that uses AI to personalize search results and recommendations.

Coveo Analytics

A analytics platform that provides insights and metrics on search behavior and relevance.

8. Coveo Solutions Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Coveo Solutions Inc. operates in a niche market, providing AI-powered search and recommendation solutions. While there are some substitutes available, they are not as effective, giving Coveo a competitive edge.

Bargaining Power Of Customers

Coveo's customers are typically large enterprises, which gives them some bargaining power. However, Coveo's solutions are highly customized, making it difficult for customers to switch to alternative providers.

Bargaining Power Of Suppliers

Coveo relies on a few key suppliers for its technology and infrastructure. However, the company's strong relationships with its suppliers and its ability to negotiate favorable terms reduce the bargaining power of suppliers.

Threat Of New Entrants

The AI-powered search and recommendation market is highly specialized, requiring significant investment in research and development. This barrier to entry makes it difficult for new entrants to compete with Coveo.

Intensity Of Rivalry

The AI-powered search and recommendation market is highly competitive, with several established players vying for market share. Coveo must continually innovate and improve its solutions to maintain its competitive edge.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 4.74%
Debt Cost 5.77%
Equity Weight 95.26%
Equity Cost 9.11%
WACC 8.96%
Leverage 4.97%

11. Quality Control: Coveo Solutions Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Coveo Solutions

A-Score: 4.7/10

Value: 5.5

Growth: 7.3

Quality: 3.9

Yield: 0.0

Momentum: 8.5

Volatility: 3.0

1-Year Total Return ->

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EverCommerce

A-Score: 4.6/10

Value: 4.3

Growth: 7.9

Quality: 4.3

Yield: 0.0

Momentum: 6.0

Volatility: 5.3

1-Year Total Return ->

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Stock-Card
TELUS International

A-Score: 4.5/10

Value: 8.7

Growth: 5.6

Quality: 3.1

Yield: 0.0

Momentum: 7.0

Volatility: 3.0

1-Year Total Return ->

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Stock-Card
Repay

A-Score: 3.9/10

Value: 9.2

Growth: 5.1

Quality: 4.3

Yield: 0.0

Momentum: 1.5

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
Bandwidth

A-Score: 3.9/10

Value: 6.8

Growth: 7.1

Quality: 2.6

Yield: 0.0

Momentum: 4.0

Volatility: 3.0

1-Year Total Return ->

View Full Report
Stock-Card
Backblaze

A-Score: 3.5/10

Value: 4.8

Growth: 3.2

Quality: 3.2

Yield: 0.0

Momentum: 8.0

Volatility: 2.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

5.84$

Current Price

5.84$

Potential

-0.00%

Expected Cash-Flows