Coveo Solidifies Leadership in Gartner Magic Quadrant for Search and Product Discovery

MONTREAL and SAN FRANCISCO – June 26, 2025 – Coveo (TSX:CVO), a global leader in AI-Relevance and a pioneer in delivering best-in-class AI-search and generative experiences, today announced a significant milestone: its recognition by Gartner as a Leader in the prestigious Magic Quadrant for Search and Product Discovery for the second consecutive year. This consistent placement underscores Coveo's unwavering commitment to innovation and its strong market position in the rapidly evolving landscape of AI-powered digital experiences.

The evaluation process for the Gartner Magic Quadrant is rigorous, assessing companies based on two primary criteria: 'Completeness of Vision' and 'Ability to Execute.' Coveo's repeated leadership status is a testament to its comprehensive product roadmap, its deep understanding of market needs, and its proven capability to deliver impactful solutions that drive tangible business outcomes for its clients. The company's AI-powered platform is designed to maximize relevance at every point-of-experience, from e-commerce product discovery to customer service and workplace knowledge management, ultimately enhancing user satisfaction and operational efficiency.

The Significance of AI-Relevance in Today's Digital Economy

In an increasingly competitive digital marketplace, the ability to deliver highly relevant and personalized experiences is paramount. Consumers and employees alike expect intuitive, intelligent interactions that quickly provide the information or products they seek. Coveo's AI-Relevance platform leverages advanced machine learning and generative AI to understand user intent, personalize search results, and proactively recommend relevant content or products. This capability is critical for businesses looking to improve conversion rates, reduce support costs, and enhance overall digital engagement.

Coveo's focus on generative experiences, in particular, positions it at the forefront of the next wave of AI innovation. By integrating generative AI into its search and discovery solutions, Coveo enables businesses to provide more conversational, context-aware, and dynamic interactions, moving beyond traditional keyword-based search to a more natural and intelligent discovery process.

Market Context and Implications for the IT Sector

Coveo's continued leadership in the Gartner Magic Quadrant reflects broader trends within the information technology (IT) sector. The demand for sophisticated AI and machine learning solutions is accelerating across industries, as businesses seek to leverage data for competitive advantage. Companies like Coveo, which specialize in applying AI to critical business functions like search and discovery, are well-positioned to capitalize on this growing market. The recognition from a reputable firm like Gartner not only validates Coveo's technology but also enhances its credibility and market appeal, potentially leading to increased adoption among enterprise clients.

The search and product discovery market is dynamic, with continuous advancements in AI and natural language processing. Coveo's ability to maintain its leadership position suggests a strong R&D pipeline and a strategic vision that anticipates future market needs. This bodes well for the company's long-term growth trajectory within the broader enterprise software landscape.

Investment Insights for Coveo (TSX:CVO)

For investors, Coveo's consistent recognition by Gartner as a Leader provides a strong signal of its competitive strength and market relevance. This positive news could reinforce investor confidence in the company's growth prospects. Key considerations for investors include:

• Market Leadership Validation: The Gartner Magic Quadrant is a respected industry benchmark. Repeated leadership status indicates a robust product, strong execution, and a clear vision, which are attractive qualities for long-term investment.
• AI-Driven Growth: Coveo operates in the high-growth AI and enterprise software segments. Its specialization in AI-Relevance and generative experiences aligns with major technological trends driving digital transformation across industries.
• Customer Acquisition and Retention: A strong market position and validated technology can lead to easier customer acquisition and higher retention rates, contributing to predictable revenue streams.
• Competitive Moat: Continuous innovation and a strong intellectual property portfolio in AI-powered search can create a sustainable competitive advantage against emerging players.

Investors should monitor Coveo's financial performance, including revenue growth, profitability, and customer expansion metrics, to assess the tangible impact of its market leadership. The company's ability to translate its technological prowess into sustained financial success will be key to its continued appeal.

Coveo's second consecutive year as a Leader in the Gartner Magic Quadrant for Search and Product Discovery solidifies its standing as a pivotal player in the AI-driven digital experience economy. This achievement not only celebrates its technological innovation but also reinforces its strategic importance to businesses striving for enhanced relevance and efficiency in their digital interactions.