Observed Signal · Jan 29, 2026 · Earnings Report · Source: CMSWire · Impact: 4/5 · Sentiment: Positive
Coveo Posts Record Q3 FY 2026 Bookings
Coveo, an AI-powered search and relevance vendor, reported record new business bookings and a 13% year-over-year increase in SaaS subscription revenue to $36.6 million for Q3 fiscal 2026 (quarter ended Dec. 31, 2025). Total revenue grew 12% to $38.0 million, but the company swung to a net loss of $7.2 million from a net income of $4.0 million a year earlier. Generative AI solutions drove over 25% of new bookings, while commerce bookings represented nearly half of new business, partly attributed to an ongoing SAP partnership. New enterprise customers included Boston Scientific, Deloitte Digital, Tyler Technologies and Insight Enterprises, with Coveo's largest customer win to date being a Fortune 500 industrial firm. The company also launched RAG-as-a-Service for AWS AI Agents and a Coveo App for ChatGPT, and announced the departure of CFO Brandon Nussey, with Karine Hamel stepping in as interim CFO.
Earnings report from a key AI search vendor indicating strong growth in generative AI adoption and enterprise commerce, reflecting broader industry momentum.
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Key Takeaways & Evidence Grounding
- SaaS subscription revenue was $36.6 million in Q3 FY 2026, up 13% year-over-year.
- Total revenue grew 12% to $38.0 million for the quarter ended Dec. 31, 2025.
- Generative AI solutions accounted for over 25% of new bookings.
- Commerce bookings made up nearly half of all new business, driven by an ongoing SAP partnership.
- New enterprise customers included Boston Scientific, Deloitte Digital, Tyler Technologies and Insight Enterprises.
- CFO Brandon Nussey departed in December 2025; Karine Hamel became interim CFO.
Connected Companies & Entities
7 Entities mapped“Coveo's generative AI and commerce momentum translated into record new business bookings in Q3 fiscal 2026....”
“New enterprise customers included Deloitte Digital....”
“In December 2025, the company launched RAG-as-a-Service for AWS AI Agents....”
“Commerce bookings accounted for nearly half of all new business, influenced by the company's ongoing SAP partnership....”
“Coveo launched custom actions for AI agents for Salesforce Agentforce....”
“A McKinsey survey found 65% of organizations now regularly implement generative AI in at least one business area....”
“Gartner named Coveo a Leader in its Magic Quadrant for Search and Product Discovery in June 2025....”
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