Key Highlights

● Second-quarter revenue was US$46.6 million, up 188% and ahead of company guidance.

● The net loss narrowed to US$21.2 million from US$44.1 million a year earlier.

● Third-quarter revenue is guided to US$55 million, with an adjusted EBITDA loss of US$3.5 million.

● Gloo reported more than 30 customers with annual contract value of US$1 million or more.

Latest verified development

Gloo Holdings, Inc. (NASDAQ:GLOO), a software and AI platform for churches, ministries and faith-based nonprofits, published its second-quarter report on 9 September 2026, the most financially material development to date. Its most recent items were the 9 October announcement of winners in a US$200,000 AI hackathon and the 8 September launch of Gloo Code, an agentic coding product.

The business sells Gloo Workspace, a subscription suite of AI-powered tools for churches, and Gloo 360, a platform for network capability providers, and has about 700 employees. Six-month revenue was US$88.1 million, so the second quarter was more than half of the first-half total.

Second-quarter results

For the quarter ended 31 July 2026, revenue was US$46.6 million, up 188% from US$16.2 million a year earlier and ahead of the company's US$44.0 million guidance. The company has made five acquisitions since listing, so much of the growth is acquired; the release attributes it to AI solutions, acquisitions and cross-selling.

The net loss narrowed to US$21.2 million from US$44.1 million. Adjusted EBITDA, a non-GAAP measure, was a loss of US$8.3 million, against a loss of US$19.0 million a year earlier and US$11.5 million in the first quarter.

Guidance and cash

For the third quarter Gloo expects revenue of US$55 million, about 69% higher year on year, and an adjusted EBITDA loss of US$3.5 million. For the full year it raised its revenue outlook to US$200 million, from US$195 million. It targets adjusted EBITDA break-even in the third quarter and adjusted EBITDA profitability in the fourth quarter, and has not reconciled that outlook to GAAP.

Cash and equivalents were US$39.3 million at 31 July, down from US$57.3 million at 31 January, in a period that included a Class A common stock offering, which priced and completed in July. After quarter-end the company extended a US$13.2 million senior secured loan by one year to April 2028.

Customers and deals

Gloo reported more than 30 customers with annual contract value of US$1 million or more and its first above US$10 million. It said it serves over 140,000 faith, ministry and nonprofit leaders.

Recent deals include the completed purchase of the remaining stake in Midwestern Interactive on 11 August and an agreement to acquire Cedarstone, a financial and business outsourcing firm, announced on 5 August. Acquisitions can lift reported growth quickly, but they also bring integration work and, where paid for in cash or shares, cost or dilution.

Adjusted EBITDA path against the net loss

The key tests are whether third-quarter revenue reaches the US$55 million guide and whether adjusted EBITDA reaches the break-even path described, with cash of US$39.3 million funding acquisition integration in the meantime. Follow-on offerings and the reliance on acquisitions for growth both bear on dilution.

The US$21.2 million net loss remains far larger than the US$8.3 million adjusted EBITDA loss, so the items excluded from the adjusted measure are substantial.