Coveo (CVO) fell 25% on its Q2 print, which inched past estimates but left questions about the future - with management highlighting a revenue loss from renegotiations with Salesforce and changing customer behaviour…
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… we observed that additional stakeholder approvals were required as our solutions become more strategic for these customers… we haven’t seen these go to competitors. They simply require more time.
Brandon Nussey (CFO) - Q2’26 call
… resulting in the full-year guide tightening around the lower end of the original range.
If growth slows, attention will turn to profitability - leaving a lot of work to do for management to reposition the story.
