Gloo Holdings, Inc.

Q2 revenue was $46.6 million, up 188% year over year and 12% sequentially. Platform Solutions revenue was $22.9 million, up 209% from $7.4 million, and Platform revenue was $23.6 million, up 170% from $8.7 million. Cost of revenue was 64.0% of total revenue, improving 10.8 percentage points from 74.8% in the prior-year period. Adjusted EBITDA improved $3.2 million sequentially to negative $8.3 million. The company took a $4.4 million restructuring charge. Cash and cash equivalents were $39.3 million as of July 31, 2026, and it raised $23.7 million net in a follow-on offering. Gloo raised full-year 2026 revenue guidance by $5 million to $200 million, expects Q3 revenue of $55 million and adjusted EBITDA of negative $3.5 million, and continues to expect adjusted EBITDA profitability in Q4 2026. It also expects a weighted average share count of approximately 90 million in Q3.

Scott Beck framed the quarter as proof that Gloo’s strategy is working: the company is scaling a fragmented, underserved market while improving operating leverage. He emphasized applied AI as a core differentiator, saying the business is increasingly delivering outcomes rather than just software tools, and that better frontier models make Gloo more valuable. His tone was confident and expansionary, focusing on land-and-expand, cross-sell across capital partners, and the long-term opportunity created by acquisitions and trusted relationships.

Paul Seamon said Q2 revenue beat guidance and was driven by Gloo 360, Workspace and acquisitions such as Masterworks, Westfall and EMD. He highlighted margin progress, noting cost of revenue improved to 64.0% from 74.8% a year ago, and said adjusted EBITDA improved sequentially to negative $8.3 million. He also pointed to the $4.4 million restructuring charge, the $23.7 million net raised in the follow-on offering, $39.3 million of cash, and the extension of a $13.2 million senior secured loan to April 2028. On outlook, he raised FY26 revenue guidance to $200 million, guided Q3 revenue to $55 million and adjusted EBITDA to negative $3.5 million, and reiterated Q4 profitability.

Analysts pressed on how much remaining margin improvement would come from gross margin versus cost synergies; management said they expect additional operating leverage in operating expenses over the next couple of quarters. Questions also focused on visibility and whether the second-half outlook was backed by backlog or still heavily dependent on sales execution; management said recurring revenue and a strong pipeline give them solid visibility into Q3 and Q4. On cross-sell, Pat Gelsinger said the company has formalized a sales compensation program to incentivize cross-selling, and management said most revenue growth still comes from existing customers but acquisitions are adding new names that can be expanded. Analysts also asked about AI token costs, developer traction, and forward-deployed engineering; management said falling token prices help both Gloo’s costs and customer adoption, and that FDE is a key enabler because many customers lack the talent to implement AI.