Cognite Reports Strong Second Quarter with Nearly Doubled Profits

Israeli technology company Cognite, a global leader in AI-powered investigative software solutions, announced robust financial results for the second quarter and first half of its 2027 fiscal year, showcasing significant growth across key metrics. The company reported revenues of $109.2 million for the second quarter, a 12% increase compared to the same period last year. Software and software services revenue surged by approximately 21% to $100.8 million, accounting for over 92% of total revenue.

Profitability saw a substantial improvement, with adjusted EBITDA growing by 35.7% to reach nearly $14.9 million. Diluted earnings per share on a non-GAAP basis nearly doubled, rising to $0.15 from $0.08 in the prior year. GAAP operating profit stood at $4.7 million, a 69.7% increase, and net profit attributable to the company was $4.1 million.

Recurring revenue also grew by 18.4% to $56.2 million, representing 51.4% of total revenue. Cognite highlighted the addition of 40 new customers during the first half of the year. The company concluded the quarter with $102.2 million in cash and no debt.

CEO Elad Sharon expressed optimism, stating, "Cognite delivered a strong quarter, with broad momentum across global markets and continued progress on our strategic growth pillars. The market is moving exactly in the direction we built the company for. Our strategy is working, our execution is strong, and the quality of our business continues to improve. We move forward with confidence and ambition."

Based on these results, Cognite reaffirmed its full-year 2027 financial forecast, expecting revenues of approximately $448 million and adjusted EBITDA of around $68 million. CFO David Abdi noted the strong visibility into future revenue, with approximately 85% of the next 12 months' revenue already accounted for, reinforcing confidence in the annual outlook.