Cognite Reports Q2 2027 Revenue Growth and Doubled Non-GAAP EPS
Cognite reported Q2 2027 revenue of $109.2 million, up 12% year-over-year, driven by a 21% surge in software sales. Adjusted EBITDA grew 35.7% to $14.9 million.
Cognite, a global leader in AI-driven investigative software solutions, has released its financial results for the second quarter and first half of fiscal year 2027, demonstrating impressive growth across key metrics.
The company reported revenue of $109.2 million for the second quarter, reflecting an increase of approximately 12% compared to the same period last year. Revenue from software and software services surged by about 21% to reach $100.8 million, accounting for over 92% of total revenue.
Profitability and Financial Strength
On the bottom line, the company's profitability showed even more significant improvement. Adjusted EBITDA grew by 35.7% to total approximately $14.9 million. Non-GAAP diluted earnings per share nearly doubled, standing at $0.15 per share, compared to $0.08 last year. GAAP operating income stood at $4.7 million, an increase of 69.7%, and net income attributable to the company totaled $4.1 million.
Additionally, the company's recurring revenue grew by 18.4% during the quarter to reach $56.2 million, representing 51.4% of total revenue. Cognite also emphasized that during the first half of the year, 40 new customers joined the company. At the end of the quarter, Cognite's cash reserves stood at $102.2 million, with zero debt.
CEO and CFO Remarks
Elad Sharon, CEO of Cognite, commented on the results and stated:
Cognite delivered a strong quarter, with broad momentum in markets worldwide and continued progress in our strategic growth pillars. The market is moving precisely in the direction for which we built the company. Our strategy is working, our execution is strong, and the quality of our business operations continues to improve. We are moving forward with confidence and ambition.
In light of the results, Cognite is reaffirming its fiscal year 2027 guidance, expecting revenue of approximately $448 million and an adjusted EBITDA of about $68 million. David Abdi, CFO, noted that second-quarter results demonstrate the continued strength of their financial model, providing visibility into about 85% of revenues over the next 12 months.
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