Cognition says annualized revenue run rate passes $1 billion
The Devin coding startup's run rate has roughly doubled in four months, Bloomberg reports, days after Cognition itself said the figure had already topped $900 million this month.
Cognition AI is on track to hit $1 billion in annualized revenue this month, Bloomberg reported, citing a person familiar with the matter, about double its run rate from four months ago.
Cognition confirmed the milestone itself hours later. "Cognition has crossed $1B in annualized revenue run rate," the company posted on X. It added that "this milestone belongs to our customers," pointing to examples of how clients use its Devin coding agent. The company had said earlier in September that its run rate already topped $900 million.
https://x.com/cognition/status/2103500168951955718
Annualized run rate is a projection of a company's yearly sales based on a shorter recent period, not audited revenue. Bloomberg's figure rests on an unnamed source rather than a company statement. Cognition did not give the precise number behind its own $1 billion claim.
The jump would put Cognition among the fastest-growing AI coding startups by revenue. Bloomberg's figure remains unverified, and the exact prior-period number was not disclosed in its report.