Cognition has crossed a $1 billion annualized revenue run rate, the company announced on September 25, 2026, as adoption of its Devin AI software engineering agent continues to expand among enterprise engineering teams.
Cognition said the milestone came less than two years after Devin became generally available. The company said Devin now works alongside engineering teams at GE Aerospace, Rivian, Rohlik and Exa, among other organizations.
The announcement marks another sharp increase in Cognition’s reported revenue pace after the company said its run-rate revenue rose from $492 million in May to almost $900 million in September.
Cognition reached the $492 million figure in May when it raised more than $1 billion at a $26 billion valuation. The company said enterprise usage of Devin had grown more than tenfold since the start of 2026 at the time.
In its May announcement, Cognition listed Citi, Mercedes-Benz, Goldman Sachs, Elevance, Dell, Santander, the U.S. Army and the U.S. Navy among its customers. It also identified startups including Exa, Modal, Eight Sleep and OpenRouter as users of Devin.
Cognition later reported that its annualized revenue had increased to almost $900 million by September 8. The announcement accompanied a Series E funding round that brought in more than $2 billion at a $48 billion valuation.
Cognition said the September financing was led by Andreessen Horowitz and Accel, alongside existing investors including Founders Fund, General Catalyst and Avenir. Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, Altimeter, Bond Capital, Meritech, T. Rowe Price, Lux Capital, 8VC and other investors also participated.
Reuters reported the same September financing at a $48 billion valuation, while TechCrunch reported that Cognition’s annualized revenue had risen from $492 million to $900 million between the company’s May and September fundraises.
The latest $1 billion figure follows an equally rapid rise in Devin’s earlier revenue. Cognition said Devin’s ARR grew from $1 million in September 2024 to $73 million in June 2025, before the company acquired Windsurf.
Cognition said its acquisition of Windsurf more than doubled ARR and gave the company a broader AI coding product suite combining an interactive development environment with autonomous agents.
Cognition announced the Windsurf acquisition in July 2025. The deal included Windsurf’s intellectual property, product, trademark, brand and business. Cognition said Windsurf had $82 million in ARR, more than 350 enterprise customers and hundreds of thousands of daily active users.
The company later said combined enterprise ARR increased by more than 30% during the seven weeks following the acquisition, with less than 5% overlap between the two companies’ enterprise customers before the deal.
Devin’s enterprise presence has continued to expand through partnerships with large technology and consulting firms.
Infosys partnered with Cognition in January 2026 to deploy Devin across its organization and global client base. The rollout began with financial services work and was planned to expand into retail, energy, healthcare and other industries.
Cognizant also partnered with Cognition to deploy Devin and Windsurf across its engineering organization and client base. The companies said the work includes code migration, refactoring, testing and maintenance.
At the product level, Cognition has expanded Devin beyond the original model of assigning an individual coding task to an AI agent.
In March, Cognition introduced the ability for Devin to manage other Devins. The system can break larger jobs into separate tasks and delegate them to multiple agents running in isolated virtual machines.
The company also introduced Scheduled Devins, allowing recurring sessions to run automatically while retaining state between tasks.
In May, Cognition introduced Devin Auto-Triage. The system can respond to incoming reports and alerts from services such as Slack, Linear, GitHub, Sentry and Datadog, investigate problems and, when appropriate, open a pull request.
Cognition subsequently introduced Devin Security Swarm, which it says can find vulnerabilities, assess whether they are exploitable at runtime and produce remediation pull requests.
The company has also increased its investment in its own software engineering models. Cognition launched SWE-1.6, followed by SWE-1.7 in July and SWE-2 in September.
In its September 8 announcement, Cognition said Devin was being used across a range of industries, including chip design at NVIDIA, aviation at GE Aerospace, financial services at Citi, automotive engineering at Mercedes-Benz and AI infrastructure at Modal.
Cognition has also expanded its geographic presence. The company said it opened offices in Washington, D.C., Tokyo, Singapore, London, São Paulo and Madrid during the previous year, in addition to its hubs in San Francisco, New York and Austin.
The company’s own engineering operation has become a major internal example of Devin usage.
In May, Cognition said 89% of code committed by its engineers was committed by Devin, with the remainder produced by local agents in Devin Desktop.
Cognition’s original December 2024 general-availability release positioned Devin as an engineering system that could handle tasks such as frontend bugs, first-draft pull requests and targeted refactoring. The company initially priced access at $500 per month for engineering teams.
The commercial model has since expanded alongside the product. Cognition now offers several Devin plans and additional usage-based services as the platform has grown beyond its original cloud-agent offering.
The company’s rapid revenue growth has also come with significant infrastructure spending.
The Information reported in September that Cognition’s cash burn could reach $800 million in 2026. The report said the company leases an Nvidia server cluster costing hundreds of millions of dollars a year and burned about $200 million in the second quarter, according to people familiar with the company’s performance.
TechCrunch reported the same infrastructure costs in its coverage of Cognition’s September financing and noted that the company’s rapid expansion is taking place alongside the cost of running and training AI systems.
Cognition is attempting to reduce those costs through its own models and model-routing systems. The company has said that its independent model development program is intended to give it more control over the relationship between model capability and inference cost.
The company’s revenue growth has accelerated dramatically since Devin first reached commercial availability.
Devin grew from $1 million in ARR in September 2024 to $73 million in June 2025. After the Windsurf acquisition, Cognition reported $492 million in annualized revenue in May 2026, almost $900 million in September and more than $1 billion on September 25.
The sequence has also coincided with a rapid increase in valuation. Cognition was valued at $10.2 billion after its September 2025 funding round, at $26 billion following its May 2026 financing and at $48 billion in its September Series E.
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