Coveo Initiates New Share Buyback After Yearly Slide

The Toronto-based search and generative AI company received approval from the Toronto Stock Exchange to repurchase approximately 5.1 million subordinate voting shares. This normal course issuer bid will run for a 12-month period concluding July 16, 2027.

Investors have reacted cautiously to the company’s recent performance, with shares dropping 34% since the start of 2026. The stock closed at 4.35 Canadian dollars in its most recent session. Under the previous buyback program, which expired Thursday, the firm acquired 3.91 million shares at a weighted average price of 6.78 Canadian dollars.