Cognition says its revenue run rate passed $1 billion

Cognition said on September 25 that its annualized revenue run rate had passed $1 billion. Devin became generally available less than two years ago.

Cognition says GE Aerospace and Rivian use Devin. Benzinga reports that Cognition's run rate has more than doubled from the $492 million disclosed earlier this year.

Cognition has not provided audited annual sales or a detailed revenue breakdown. Benzinga reports the company's claim but does not independently verify it.

A revenue run rate takes recent sales and projects them across a full year. It does not mean Cognition collected $1 billion over a full year.

Revenue also does not show how much of Devin's work customers can use. It does not count the time they spend reviewing and correcting that work.

Watch for reported annual revenue, customer renewal rates and margins after computing costs. Customer studies should count accepted work and human review time together.