Slides
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Q3 Fiscal 2025 Financial Results For the three and nine months ended December 31, 2024 February 10, 2025
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 This presentation (“Presentation”) is qualified in its entirety by reference to, and must be read in conjunction with, the information contained in our Annual Information Form dated June 3, 2024 (the “AIF”), as well as in our condensed interim consolidated financial statements (unaudited) for the three and nine- month periods ended December 31, 2024 and 2023, together with the notes thereto (collectively, the “Financial Statements”), as well as the management’ s discussion and analysis (the “MD&A”) in respect thereof. All references to “US$”, “$”, and “U.S. dollars” are toUnited States dollars and all references to “C$” are to Canadian dollars. Readers should not construe the contents of this Presentation as legal, tax, regulatory, financial or accounting advice. Coveo believes that the market, industry, customer and other data presented in this Presentation is reliable and, with respect to data prepared by Coveo or on its behalf, that Coveo’ sestimates and assumptions are currently appropriate and reasonable, but there can be no assurance as to the accuracy or completeness thereof. Trademarks and logos used throughout this Presentation belong to their respective owners. Forward-Looking Information This Presentation contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including with respect to Coveo’ sfinancial outlook and related assumptions for the three-month period ending March 31, 2025 and the fiscal year ending March 31, 2025 (collectively, “forward-looking information”). Please refer to the “Forward-Looking Information” section of our earnings press release dated February 10, 2025, for a cautionary statement regarding forward-looking information included in this Presentation. Such cautionary statement is deemed to be included by reference in this Presentation. Non-IFRS Measures and Ratios The information presented in this Presentation includes non-IFRS financial measures and ratios. These measures and ratios should not be considered in isolation nor as a substitute for analysis of Coveo’ sfinancial information reported under IFRS. These measures and ratios are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Coveo believes the non-IFRS measures and ratios used in this Presentation provide its management and investors consistency and comparability with its past financial performance and facilitate period-to-period comparisons of operations, as they generally eliminate the effects of certain variables from period to period for reasons unrelated to overall operating performance. Please refer to the “Definition of Non-IFRS Measures and Ratios” section of the Appendix for details of the composition of Adjusted EBITDA, Adjusted Gross Profit, Adjusted Product Gross Profit, Adjusted Professional Services Gross Profit, Adjusted Gross Profit (%), Adjusted Product Gross Profit (%), Adjusted Professional Services Gross Profit (%), Adjusted Sales and Marketing Expenses, Adjusted Research and Product Development Expenses, Adjusted General and Administrative Expenses, Adjusted Sales and Marketing Expenses (%), Adjusted Research and Product Development Expenses (%) and Adjusted General and Administrative Expenses presented by Coveo, as well as the reconciliations of such measures to the most directly comparable IFRS measure, where applicable. Key Performance Indicators This Presentation refers to operating metrics used in Coveo’ sindustry, some of which Coveo considers key performance indicators. Please refer to the "Key Performance Indicators" sections of our earnings press release dated February 10, 2025 and our MD&A for the three- and nine-month periods ended December 31, 2024, both of which are available on our profile on SEDAR+ at www.sedarplus.ca, for disclosure regarding our key performance indicators, which disclosure is deemed to be included by reference in this Presentation. Disclaimer Une copie de cette présentation peut être obtenue en français sur demande. A French copy of this presentation can be made available upon request. 2
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Q3 Performance Highlights Louis Têtu Chairman and CEO, Coveo
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Q3 FY’25 Highlights 4 12%(1) Q3 FY’25 SaaS Subscription Revenue(2) Growth (Coveo core Platform) (Year-over-Year) $32.3M Q3 FY’25 SaaS Subscription Revenue(2) $0.6M Q3 FY’25 Adjusted EBITDA(3) 82% Q3 FY’25 Cash Flows from Operating Activities +92% Year-over-Year $(0.2M) Q3 FY’25 Product Gross Margin $4.0M Q3 FY’25 Net income (1) Excludes the effect of SaaS Subscription revenue or SaaS ACV attributable to the Qubit Platform. (2) SaaS Subscription Revenue is a key performance indicators of Coveo. Please refer to the "Definition of Key Performance Indicators" section of the Appendix for the definitions of such measure. (3) Adjusted EBITDA is a non-IFRS measure. Please refer to the "Non-IFRS Measures and Ratios" section of the disclaimer to this Pres entation, and to the "Reconciliation of Net Loss to Adjusted Operating Loss and Adjusted EBITDA" section in the Appendix for a definition of Adjusted EBITDA and a reconciliation to net loss.
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2024 Coveo, the AI-Relevance Company, powers augmented relevance at every point-of-experience for the world’ s leading enterprises, driving superior business outcomes from all their digital experiences. Coveo AI-Relevance Platform TM powered by
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 20256 "The initial excitement around AI, especially generative AI (GenAI), is evolving into a deeper focus on execution and results. AI’ s importance in the C-suite is steadfast; three - quarters of executives name it as a top -three strategic priority for 2025. Companies also plan to invest more in GenAI in 2025 than last year—even as they realize that the intuitive, friendly feel of GenAI masks the discipline, commitment, and hard work required to introduce these technologies into business."
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Websites Workplace Service Commerce Websites Workplace Service Commerce Millionsofindividualized POINTS-OF-INTERACTIONS acrossdigitaljourneys Websites Workplace Service Commerce Websites Workplace Service Commerce 360°ofdata across the enterprise 360°ofcustomer and contextsignals B2C Commerce B2B Commerce Field Service Customer Support Agents Intranets & Knowledge Employee Self-Service AI Agents In-App/in-product Chatbots Websites Mobile Partner and Dealer Portals In-store Commerce Support PortalsMarketplace / App Store Devices & other touchpoints channels Store Associates 7 Digital is table stakes. Relevance is not.
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 8 Relevance, in digital experiences, impact business https://www.fastcompany.com/91001314/better-faster-more-personalized-how-generative-ai-has-us-hooked-on-remarkable-experiences Today more than ever, people are saying, “Don’t waste what I value the most—my time.” This is why digital technology adoption has become so person-centric over the past decade. All these advancements have made the average digital citizen more than a little impatient. “Digital patience” is an oxymoron.
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 In digital experiences, RELEVANCE refers to how closely enterprise content, products, recommendations, and [generative] advice presented to a person online, in real -time, align easily with their unique context, needs, preferences, behaviour, and intent. GENERATIVE PRODUCT & CATEGORY RECOMMENDATIONS GENERATIVE ANSWERING, NEXT BEST QUESTIONS, CONVERSATIONS, ADVICE, SOURCES & CITATIONS HYBRID SEARCH, DISCOVERY & DYNAMIC NAVIGATION PERSONALIZED AI RECOMMENDATIONS
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 One “intent” box User queries or questions, AI-suggestions Generated answer for you Learn more: 1 2 3 4 Relevant products, ranking optimized for business Next best – follow-up - questions Relevant Search Results You might also like HYBRID SEARCH, DISCOVERY & DYNAMIC NAVIGATION Unified AI-Relevance sets a new bar for remarkable experiences PERSONALIZED AI RECOMMENDATIONS IN-LINE SOURCES AND CITATIONS – FULL CONTENT LINEAGE AND TRACEABILITY CONVERSATIONS - LLM-POWERED THE UNIVERSAL DX CONTENT ENGAGEMENT PARADIGM RANKED RELEVANT SEARCH RESULTS – COHERENT WITH ANSWERS AND CONVERSATIONS RECOMMENDATIONS FOR YOUR CONTEXT , INTENT , DRIVING BUSINESS GOALS GENERATIVE PRODUCT & CATEGORY RECOMMENDATIONS GENERATIVE ANSWERING, NEXT BEST QUESTIONS, CONVERSATIONS, ADVICE, SOURCES & CITATIONS
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 You have to bring your entire enterprise, your best foot forward, to every person, all day, every day …while each digital journey, each person is different, and data is everywhere 11 AI enables Persona to Person
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 12 Our customers report realizing significant financial benefits, fast, with the Coveo AI-Relevance Platform Commerce – includes Coveo AI-Merchandising(1) Knowledge – includes Coveo Relevance-Augmented Generation(1) Conversion Rate with Coveo Search +9.6% Annual savings from explicit case deflection $3.5M Savings via reduction in Searches per Visit $1.7M Financial Services Company Increase in Orders Annually +1.5M Incremental Monthly Revenue +$2M Conversion Rate with Coveo Search +10% Conversion Rate with Coveo Search +25% Reduction in Cost-to-Serve Annually €8M Improvement in Explicit Case Deflection Rate % 60% Reduction in Case Submit Rate % 21% Reduction in Case Submit Rate % 21% Increase in Generated Answer Accuracy 73% Global Business Software Company Improvement in Self-Service Success 11% Conversion Rate with Search +13% Large DIY Retailer Lift in Revenue per Visit +10% (1) These estimates were formulated after A/B testing and reflect the estimated benefits to the selected customers based on feedback received from such customers and data reported by them. No guarantee of accuracy. The estimate of the potential benefit to other customers would depend on numerous variables, including the scale, results, and scope of operations of such other customers. These estimates are limited by the scaling factors of extrapolating these results from the specific project scope of each deployment across the customer’ s entire business. No customer has reviewed our methodology for estimating the potential economic and other benefits of our solutions to their businesses and they and others including readers may not agree with it or the assumptions that we have made. These estimates are subject to a high degree of uncertainty and risk due to a variety of factors. The examples set forth above are individual experiences with our platform and solutions and not all customers and use cases may experience allof the benefits disclosed or concur with our estimates of such benefits. Time periods used to formulate the estimates vary significantly between customers and depend on each customer’ s own situation, use case and deployment. The definitions of the performance indicators used herein, and how they are calculated and reported, may vary materially between customers, and therefore, actual and reported results achieved by customers may vary materially between customers. Performance reported is not indicative of future results. Average Order Value with Coveo Search +5.5% Incremental Annual Revenue +$3M
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Business outcomes • Simpler content • Fewer sources • Low to average volume of documents • All content and context consolidated in one platform • Smaller audience • More homogeneous Audience Content Complex Indexing, Embeddings, Security • Hundreds of thousands of products • Millions of documents – structured / unstructured • Multiple & secure sources of data, content and context • Very complex documents high volume and variety and sources of content or products large and diversified Complex Relevance • Thousands to millions of users • Highly individualized experience expectations • Large and/or global audience • Multiple digital engagement channels and apps • Many unauthenticated users Only AI-Relevance can solve the digital experience challenge at enterprise scale Revenue & Costs Simpler content, small audience Relevance is easier
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 The Coveo Coveo AI -Relevance Platform TM combines the power of unified secure indexing and vectorization with the precision of hybrid search, relevance and semantic to create unified search, recommendations and generative experiences, across all experiences and all enterprise data. Coveo AI-Relevance PlatformTM 15+ years of Search & AI Relevance innovation One single AI-Relevance platform A history of industry 1st and leadership 2010 Leader in large scale secure Enterprise Search [Gartner] 2011 1st Cloud multi-tenant Enterprise Search engine 2012 1st in Behavioral machine learning enterprise Search & Relevance engine 2014 AI-powered Recommendations engine 2018 1st in intent-aware personalization in-session powered by deep learning 2019 Unified customer journey analytics and relevance across commerce & service 2020 Advanced Semantic AI Search LLM-based Smart Snippets & case classification 2022 AI Merchandising Hub 2023 1st enterprise global production roll-out of Relevance-Augmented Generative Answering 2024 1st business-aware AI metamodels for Commerce revenue and margins optimization 1st Relevance-Augmented Passage Retrieval API for enterprises
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Relevance is poor & disjointed across points-of-experience Multiple search engines, sources of truth, answers and relevance across digital journeys… Enterprise data, content, context is everywhere Generative AI can now mash -up data on-demand, a game changer. 15 Khoros Jira Confluence RSS REST API Push API Custom/Other Databases Web Cloud Salesforce Slack Shopify Hybrys SharePoint Adobe Sitecore Zendesk SAP CX Google Drive Box Dropbox AppDirect YouTube GraphQL AmazonS3 Genesys ServiceNow Sitemap Catalogs Shopping cart - Free transport icons B2B COMMERCE IN-PRODUCT SELF-SERVICE PORTALS CONTACT CENTERS FIELD SERVICE INTRANETS EMPLOYEE EXPERIENCESWEBSITES SALESPORTALS B2C COMMERCE DEALER SUPPORT KNOWLEDGE MANAGEMENTSTORE ASSOCIATES Customer experiences [shopper, buyer, customer, partner, dealer, …] Employee experiences Service Workplace Websites Commerce Browsing, Guiding , Finding Shopping, Selecting, Buying Self-Service, Case Deflection, Resolution Intelligence Knowledge, Employee Proficiency GENERATIVE PRODUCT & CATEGORY RECOMMENDATIONS GENERATIVE ANSWERING, NEXT BEST QUESTIONS, CONVERSATIONS, ADVICE, SOURCES & CITATIONS HYBRID SEARCH, DISCOVERY & DYNAMIC NAVIGATION PERSONALIZED AI RECOMMENDATIONS UNIFIED AI-RELEVANCE RELEVANCE AUGMENTATION AT EVERY POINT-OF-EXPERIENCE, ACROSS ALL JOURNEYS, INJECTED INTO ANY APP OR AGENT SECURE HIGH PERFORMANCE CONNECTORS One Coveo AI-Relevance Platform TM
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Relevance is poor & disjointed across points-of-experience Multiple search engines, sources of truth, answers and relevance across digital journeys… Enterprise data, content, context is everywhere Generative AI can now mash -up data on-demand, a game changer. 16 Khoros Jira Confluence RSS REST API Push API Custom/Other Databases Web Cloud Salesforce Slack Shopify Hybrys SharePoint Adobe Sitecore Zendesk SAP CX Google Drive Box Dropbox AppDirect YouTube GraphQL AmazonS3 Genesys ServiceNow Sitemap Catalogs Shopping cart - Free transport icons GENERATIVE PRODUCT & CATEGORY RECOMMENDATIONS GENERATIVE ANSWERING, NEXT BEST QUESTIONS, CONVERSATIONS, ADVICE, SOURCES & CITATIONS HYBRID SEARCH, DISCOVERY & DYNAMIC NAVIGATION PERSONALIZED AI RECOMMENDATIONS UNIFIED AI-RELEVANCE B2B COMMERCE IN-PRODUCT SELF-SERVICE PORTALS CONTACT CENTERS FIELD SERVICE INTRANETS EMPLOYEE EXPERIENCESWEBSITES SALESPORTALS B2C COMMERCE DEALER SUPPORT KNOWLEDGE MANAGEMENTSTORE ASSOCIATES SECURE HIGH-PERFORMANCE CONNECTORS One Coveo AI-Relevance Platform TM RELEVANCE AUGMENTATION AT EVERY POINT-OF-EXPERIENCE, ACROSS ALL JOURNEYS, INJECTED INTO ANY APP OR AGENT
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Examples of recent customers live & large-scale deployments of Coveo Relevance-Augmented Generation within their digital experiences The vast majority are Salesforce, ServiceNow, and/or Genesys, SAP , Oracle, etc. customers…
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Significant Wins Q3 Update: Momentum in Commerce Record number of new clients in commerce including 50% of new commerce customers wins coming from partnership with Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 202518
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Driving Measurable Financial Benefits Q3 Update: Generative AI Progress 36% sequential increase in generative AI customers 19 Selected wins Existing customers are expanding GenAI Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Delivering AI capabilities across CX channels from Commerce to Customer Service Expanded partnership with SAP Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 202520 SERVICE CLOUD COMMERCE CLOUD
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Growing momentum with key partners Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 202521 Precise answers in service interactions help reduce service costs and improve customer satisfaction. Coveo’s extensive connectivity to content sources and its capability to add relevance to this content is a key enabler for enterprise customers with complex search requirements within Service. Kishan Chetan EVP & GM of Service Cloud, Salesforce | Sept 2024 Press Release
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 22 Leadership Announcements Louis Têtu Chairman and CEO Laurent Simoneau Founder, President and CTO John Grosshans CRO Executive chairman CEO COO Marc Sanfaçon SVP Technology CTO
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Innovation Laurent Simoneau Founder, President & CTO, Coveo
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 A powerful AI-Relevance Platform 24
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 The market is increasingly recognizing that AI-Relevance is a critical gap in the tech stack. Coveo has consistently proven that our AI-driven Relevance generates tangible real-world results. The true value of Relevance lies in the long tail – this is where sustained revenue growth and ROI are realized over time. 25 Hybrid/Semantic Search + AI-Powered Relevance + Generative AI Together they are truly transformative, unlocking unprecedented opportunities.
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BEHAVIORAL ANALYTICS CLOSED-LOOP LEARNING 26 ALL YOUR POINTS OF EXPERIENCE & DIGITAL JOURNEYS Khoros Jira Confluence RSS REST API Push API Custom/Other Databases Web Cloud Salesforce Slack Shopify Hybrys SharePoint Adobe Sitecore Zendesk SAP CX Google Drive Box Dropbox AppDirect YouTube GraphQL AmazonS3 Genesys ServiceNow Sitemap Catalogs Shopping cart - Free transport icons B2B COMMERCE IN-PRODUCT SELF-SERVICE PORTALS CONTACT CENTERS FIELD SERVICE INTRANETS EMPLOYEE EXPERIENCESWEBSITES SALESPORTALS B2C COMMERCE DEALER SUPPORT KNOWLEDGE MANAGEMENTSTORE ASSOCIATES Customer experiences [shopper, buyer, customer, partner, dealer, …] Employee experiences Service Workplace Websites Commerce Browsing, Guiding , Finding Shopping, Selecting, Buying Self-Service, Case Deflection, Resolution Intelligence Knowledge, Employee Proficiency UNIFIED HYBRID INDEXINDEXING & SECURITY VECTORIZATION & SEMANTICS SECURE HIGH PERFORMANCE CONNECTORS UNIFIED AI-RELEVANCE GENERATIVE PRODUCT & CATEGORY RECOMMENDATIONS GENERATIVE ANSWERING, NEXT BEST QUESTIONS, CONVERSATIONS, ADVICE, SOURCES & CITATIONS HYBRID SEARCH, DISCOVERY & DYNAMIC NAVIGATION PERSONALIZED AI RECOMMENDATIONS GENERATIVE CONTENT RELEVANCE-AUGMENTED GENERATION platform LLM API Your LLM PASSAGES RANKED ON SEMANTIC RELEVANCE AVAILABLE FOR RAG AND PROMPT CREATION HYBRID SEARCH & RELEVANCE AI MODELS LEXICAL, SEMANTIC, BEHAVIORAL, INTENT-AWARE & OUTCOME-BASED RELEVANCE ALL YOUR CONTENT & CONTEXT DATA
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Not necessarily. If LED 4 is the only one lit it could indicate issues with the water supply, external filters, the control board, or the float switch. 1. Check that water enters the water tank. If not, check that the water supply line shut-off valve is open and screens or external filters are clear. 2. Check for 115VAC at CB K1 #6 (O) to neutral (W). • If 115VAC is not present, replace CB. • If 115VAC is present, and WV does not energize, check for 115VAC at WV. • If 115VAC is present, check coil continuity. If open, replace WV. If the water tank fills, but the appliance fails to start harvest (Comp energized), check for open FS. Relevant Parts Shop Resource Center Generative Answer & Citations Clear and direct answer, with a relevant passage cited, and conversation logged. Helpful links allow deeper discovery. Semantic intent matching You would not want to return the obsolete float switch, nor only a float switch for this query. Intent refinement Keep the conversation going! Natural Question Note the misspellings and the improper part # formatting Hoshizaki Ice Machine TroubleshootingLearn More: KM-901MAJ Service Manual Hoshizaki 4A7077 G-02 Float Switch Assembly Hoshizaki 2A7664- 04 Control Board Hoshizaki 4A0336- 03 Board Support Resource Center Hoshizaki KM-901MAJ • Service Manual • Wiring Diagrams • Installation Manual • Parts Manual Check Continuity with a Multimeter Hoshizaki Ice Machine Resources Hoshizaki LED 4 puzzle. olivero replied 3 years, 7 months ago 3 Members · 2 Replies Techtown Forums Related Categories Show related content objects in the catalog or outside it. AI Generated answer Does led 4 on KM901MAJ mean I need a new flote switch 4A3624.02? Non-Product Content Include video and web content from the Resource Center. User Generated Content Messy user generated content can be classified for fast & relevant retrieval Next best questions When and how to clean a 4A7077-G02 Float Switch
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Chat Conversation – LED 4 Sent – 10:32 PM Does led 4 on KM901MAJ mean I need a new flote switch 4A3624.02? Not necessarily. If LED 4 is the only one lit it could indicate issues with the water supply, external filters, the control board, or the float switch. Agent – 10:32 PM 1. Check that water enters the water tank. If not, check that the water supply line shut-off valve is open and screens or external filters are clear. 2. Check for 115VAC at CB K1 #6 (O) to neutral (W). • If 115VAC is not present, replace CB. • If 115VAC is present, and WV does not energize, check for 115VAC at WV. • If 115VAC is present, check coil continuity. If open, replace WV. If the water tank fills, but the appliance fails to start harvest (Comp energized), check for open FS. Type your message… A A Chat / Agent Not necessarily. If LED 4 is the only one lit it could indicate issues with the water supply, external filters, the control board, or the float switch. 1. Check that water enters the water tank. If not, check that the water supply line shut-off valve is open and screens or external filters are clear. 2. Check for 115VAC at CB K1 #6 (O) to neutral (W). • If 115VAC is not present, replace CB. • If 115VAC is present, and WV does not energize, check for 115VAC at WV. • If 115VAC is present, check coil continuity. If open, replace WV. If the water tank fills, but the appliance fails to start harvest (Comp energized), check for open FS. Next best questions Relevant Parts When and how to clean a 4A7077-G02 Float Switch Shop Resource Center Hoshizaki Ice Machine TroubleshootingLearn More: KM-901MAJ Service Manual Hoshizaki 4A7077 G-02 Float Switch Assembly Hoshizaki 2A7664- 04 Control Board Hoshizaki 4A0336- 03 Board Support Resource Center Hoshizaki KM-901MAJ • Service Manual • Wiring Diagrams • Installation Manual • Parts Manual Check Continuity with a Multimeter Hoshizaki Ice Machine Resources Hoshizaki LED 4 puzzle. olivero replied 3 years, 7 months ago 3 Members · 2 Replies Techtown Forums AI Generated answer Does led 4 on KM901MAJ mean I need a new flote switch 4A3624.02?
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Generated Answer based on content Automatic facet selector
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Search results with AI Relevance
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Generated Answer based on content Sources & Citations
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Product Categories linked to content
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Q3 Financial Highlights Brandon Nussey Chief Financial Officer, Coveo
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Q3 FY’25 Highlights 35 12%(2) Q3 FY’25 SaaS Subscription Revenue(1) Growth (Coveo core Platform) (Year-over-Year) $32.3M Q3 FY’25 SaaS Subscription Revenue(1) 105%(2) 95% Q3 FY’25 Cash Flows from Operating Activities ($0.2M) Q3 FY’25 SaaS Subscription Revenue(1) (as a % of Total Revenue) 82% Q3 FY’25 Product Gross Margin (1) SaaS Subscription Revenue and Net Expansion Rate are key performance indicators of Coveo. Please refer to the "Definition of Key Performance Indicators" section of the Appendix for the definitions of such measures. (2) Excludes the effect of SaaS Subscription revenue or SaaS ACV attributable to the Qubit Platform. Net Expansion Rate(1) (Coveo core Platform) as of December 31, 2024
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 (1) SaaS Subscription Revenue is a Key Performance Indicator of Coveo. Please refer to the "Definition of Key Performance Indicators" section of the Appendix for the definition of such measure, and to our MD&A for the three- and nine-month periods ended December 31, 2024 for additional disclosure relating thereto. (2) SaaS Subscription Revenue earned in connection with subscriptions by customers to the Coveo core Platform for the period, and thus excluding revenue from subscriptions to the Qubit Platform. (3) SaaS Subscription Revenue earned through subscriptions to the Qubit Platform for the period covered. Revenue Growth 36 USD millions Q3 FY’25 Q3 FY’24 YoY SaaS Subscription Revenue(1) $32.3 $29.9 8% Coveo core Platform(2) $31.1 $27 .8 12% Qubit Platform(3) $1.2 $2.1 (44%) Professional Services Revenue $1.7 $1.9 (10%) Total Revenue $34.0 $31.8 7%
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 (1) Adjusted Gross Margin and Adjusted Product Gross Margin are non-IFRS financial ratios. Please refer to the "Non-IFRS Measures and Ratios" section of the disclaimer to this Presentation, and to the relevant sections of the Appendix for the definitions of Adjusted Gross Margin, Adjusted Product Gross Margin and the reconciliation to their most directly comparable IFRS measures. Gross Profit Measures 38 % Q3 FY’25 Q3 FY’24 Gross Margin 78% 77% Adjusted Gross Margin(1) 80% 78% Product Gross Margin 82% 81% Adjusted Product Gross Margin(1) 82% 82%
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 (1) Adjusted EBITDA is a non-IFRS measure. Please refer to the "Non-IFRS Measures and Ratios" section of the disclaimer to this Presentation, and to the "Reconciliation of Net Loss to Adjusted EBITDA" section in the Appendix for a definition of Adjusted EBITDA and a reconciliation to net loss. Profitability Measures 39 USD millions Q3 FY’25 Q3 FY’24 Net income (loss) $4.0 ($6.2) Adjusted EBITDA(1) $0.6 $(0.7) Cash Flows used in Operating Activities $0.2 $2.3
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 USD millions Q4 FY’25 Full Year FY’25 SaaS Subscription Revenue(1) $32.3 – $32.8 $126.3 – $126.8 Total Revenue $34.1 – $34.6 $133.0 – $133.5 Adjusted EBITDA(2) $0.0 – $1.0 $0.3 – $1.3 The company also expects to achieve positive cash flow from operations of approximately $10 million for Fiscal 2025. Q4 FY’25 and Full Year Guidance 40 These statements are forward-looking and actual results may differ materially. Coveo’ sguidance constitutes “financial outlook” within the meaning of applicable securities laws and is provided for the purpose of, among other things, assisting the reader in understanding Coveo’ sfinancial performance and measuring progress toward management’ s objectives, and the reader is cautioned that it may not be appropriate for other purposes. Please refer to the “Forward-Looking Information” section in the disclaimer of this Presentation and in our most recent annual information form and MD&A on file for information on the factors that could cause our actual results to differ materially from these forward-looking statements and a description of the assumptions thereof. Please also refer to the press release dated February 10, 2025 announcing Coveo’ sthird quarter earnings for fiscal year 2025 available under our profile on www.sedarplus.ca for a list of additional assumptions and hypothesis made in connection with our financial outlook (under "Financial Outlook Assumptions"). (1) SaaS Subscription Revenue is a Key Performance Indicator of Coveo. Please refer to the "Definition of Key Performance Indicators" section of the Appendix for the definitions of such measure, and to our MD&A for the three and nine months ended December 31, 2024 for additional disclosure relating thereto. (2) Adjusted EBITDA is a non-IFRS measure. Please refer to the "Non-IFRS Measures and Ratios" section of the disclaimer to this Pres entation, and to the "Reconciliation of Adjusted EBITDA to Net Loss" section in the Appendix for a definition of Adjusted EBITDA and a reconciliation to net loss.
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Q&A Session 41
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Appendix 42
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Condensed Interim Consolidated Statements of Income (Loss) 43 (in thousands of US dollars, except share and per share data, unaudited)
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Condensed Interim Consolidated Statements of Income (Loss) 44 (in thousands of US dollars, unaudited)
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Reconciliation of Net Income (Loss) to Adjusted EBITDA 45 Adjusted EBITDA is defined as net income or net loss, excluding interest, taxes, depreciation of property and equipment and right-of-use-assets, amortization and impairment of intangible assets (or EBITDA), adjusted for stock-based compensation and related expenses, foreign exchange gains and losses, acquisition-related compensation, transaction-related expenses, and other one-time or non-cash items. (in thousands of US dollars, unaudited)
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Reconciliation of Adjusted Gross Profit Measures and Adjusted Gross Margin Measures 46 Adjusted Gross Profit, Adjusted Product Gross Profit, and Adjusted Professional Services Gross Profit are respectively defined as gross profit, product gross profit, and professional services gross profit excluding share- based payments and related expenses, acquisition-related compensation, transaction-related expenses, and other one-time or non-cash items. We refer to these measures collectively as our “Adjusted Gross Profit Measures”. Adjusted Gross Margin is defined as Adjusted Gross Profit as a percentage of total revenue. Adjusted Product Gross Margin is defined as Adjusted Product Gross Profit as a percentage of product revenue where product revenue represents SaaS subscription revenue and Adjusted Product Gross Profit represents SaaS subscription revenue less SaaS subscription costs of revenue. Adjusted Professional Services Gross Margin is defined as Adjusted ProfessionalServices Gross Profit as a percentage of professional services revenue. We refer to these measures collectively as our “Adjusted Gross Margin Measures”. (in thousands of US dollars, unaudited)
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Reconciliation of Adjusted Operating Expense Measures and Adjusted Operating Expense (%) Measures 47 “Adjusted Sales and Marketing Expenses”, “Adjusted Research and Product Development Expenses”, and “Adjusted General and AdministrativeExpenses” are respectively defined as sales and marketing expenses, research and product development expenses, and general and administrative expenses excluding share-based payment and related expenses, acquisition-related compensation, transaction-related expenses, and other one-time or non-cash items. We refer to these measures collectively as our “Adjusted Operating Expense Measures”. “Adjusted Sales and Marketing Expenses (%)”, “Adjusted Research and Product Development Expenses (%)”, and “Adjusted General and Administrative Expenses (%)” are respectively defined as Adjusted Sales and Marketing Expenses, Adjusted Research and Product Development Expenses, and Adjusted General and Administrative Expenses as a percentage of total revenue. We refer to these measures collectively as our “Adjusted OperatingExpense (%) Measures”. (in thousands of US dollars, unaudited)
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Condensed Interim Consolidated Statements of Financial Position 48 (in thousands of US dollars, unaudited)
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Condensed Interim Consolidated Statements of Cash Flows 49 (in thousands of US dollars, unaudited)
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Copyright © Coveo Solutions Inc. All rights reserved. Proprietary and CONFIDENTIAL 2025 Definition of Key Performance Indicators 50 “SaaS Subscription Revenue” means Coveo’ sSaaS subscription revenue, as presented in its financial statements in accordance with IFRS. “Current SaaS Subscription Remaining Performance Obligations” is a forward-looking indicator of anticipated future revenue under contract that has not yet been recognized as revenue but that is expected to be recognized over the next 12 months, as presented in our financial statements in accordance with IFRS. “Net Expansion Rate” is calculated by considering a cohort of customers at the end of the period 12 months prior to the end of the period selected, and dividing the SaaS Annualized Contract Value (“SaaS ACV”, as defined below) attributable to that cohort at the end of the current period selected, by the SaaS ACV attributable to that cohort at the beginning of the period 12 months prior to the end of the period selected. Expressed as a percentage, the ratio: i. Excludes any SaaS ACV from new customers added during the 12 months preceding the end of the period selected; ii. Includes incremental SaaS ACV made to the cohort over the 12 months preceding the end of the period selected; iii. Is net of the SaaS ACV Value from any customers whose subscriptions terminated or decreased over the 12 months preceding the end of the period selected; and iv. is currency neutral and as such, excludes the effect of currency variation. In this Presentation, “SaaS Annualized Contract Value” means the SaaS annualized contract value of a customer’ s commitments calculated based on the terms of that customer’ s subscriptions, and represents the committed annualized subscription amount as of the measurement date. Please also refer to the "Key Performance Indicators" section of our latest MD&A, which is available under our profile on SEDAR+ at www.sedarplus.ca, for additional details on the abovementioned key performance indicators.