The company reported $26.5 million in revenue in its fiscal first quarter ending June 30, up 45 per cent year over year and an adjusted operating profit of $7.4 million, up from $6.2 million. The firm’s stock opened at $6.30 on the Toronto Stock Exchange, up 8.43 per cent from Monday’s close before it reported results. It closed Tuesday up just over one per cent. (The Logic)

Talking point: Customers in financial services, retail and other sectors use Coveo’s AI to recommend and personalize content on their sites for users. Other Canadian publicly-traded companies like Shopify and Lightspeed that sell commerce technology have warned that softening consumer spending amid economic anxieties could affect them. But Coveo CEO Louis Têtu struck a sunnier note on an earnings call Monday. “We don’t anticipate much slowdown for these types of solutions that really can optimize existing commerce infrastructures,” he said. The company also highlighted that it exceeded its own bottom-line for the quarter. “We are taking steps to accelerate our path to profitability,” CFO Jean Lavigueur said. The company is projecting up to $111.5 million in revenue for the fiscal year, with a loss of up to $33.5 million.