Docebo Inc. DCBO

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Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy
Sell
Insider Ownership 65.67%

Capital & Financial Ratios

Market Cap 580.09
Revenue 258.93
Net Income 33.60
Free Cash Flow 35.04
Net Debt 46.11
Current Ratio 0.83
Debt/Equity (300.09)
P/E ratio 19.87
P/S ratio 2.29
P/B ratio 0.00
Past 5Y EPS Growth
This Y EPS Growth 26.31%
Next Y EPS Growth 10.67%
Next 5Y EPS Growth 20.01%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate
Annual Dividend Yield
total individual payouts
2024 ‡‡‡
2023 ‡‡‡
2022 ‡‡‡
2021 ‡‡‡
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 72.03 92.58 74.04 45.72
Receivables 42.74 45.60 56.09 54.95
Inventory
Other 6.39 7.45 9.70 10.33
127.15 154.24 151.52 120.36
2023 2024 2025 Q'26
Payables 31.66 34.86 35.96 40.62
ST’ Debt
Other 18.30 0.79 3.52
100.65 128.60 123.80 145.51
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 65.62 68.65
’25 57.30 60.73 61.62 63.04 242.69
’24 51.40 53.05 55.43 57.04 216.93
’23 41.46 43.59 46.51 49.28 180.84
’22 32.06 34.94 36.97 38.96 142.91
’21 21.74 25.63 27.07 29.80 104.24
’20 12.77 14.70 16.01 19.24 62.92
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 24.81 (3.07)
’25 7.95 6.24 5.29 8.69 28.17
’24 8.43 6.76 4.34 9.73 29.25
’23 (2.18) 5.45 6.22 6.48 15.96
’22 (1.97) 1.09 0.98 2.19 2.29
’21 (2.18) (0.63) (0.41) (0.03) (3.25)
’20 (2.40) 0.16 0.48 4.79 4.79
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 24.70 (3.24)
’25 7.65 5.96 5.07 8.52 27.19
’24 8.22 6.48 3.86 9.44 28.00
’23 (2.29) 5.30 6.10 6.23 15.33
’22 (2.27) 0.89 0.62 1.97 1.21
’21 (2.35) (0.83) (1.04) (0.18) (4.40)
’20 (2.40) 0.16 0.48 3.71 3.71
in millions of $

EPS

Mar Jun Sep Dec Year
’26 (0.06) 0.08
’25 0.05 0.10 0.21 0.91 1.28
’24 0.17 0.15 0.16 0.38 0.86
’23 0.04 (0.17) 0.12 0.10 0.08
’22 (0.21) 0.06 0.30 0.05 0.21
’21 (0.17) (0.22) 0.02 (0.04) (0.41)
’20 0.02 (0.12) (0.04) (0.12) (0.26)

Target Price Range

High ‡‡‡‡‡ ‡‡‡‡
Average ‡‡‡‡‡ ‡‡‡‡
Low ‡‡‡‡‡ ‡‡‡‡

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell
Powerpack only forecast
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡‡ 23.40 29.40 33.81 20.20
Low Price
‡‡‡‡‡ ‡‡‡‡‡ 68.04 52.88 56.41 45.82
High Price
‡‡‡‡‡ 880 900 991 966
Employees
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡‡‡ 0.16 0.20 0.22 0.25
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 142.91 180.84 216.93 242.69 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 80.28% 80.92% 80.96% 80.28%
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.78 4.85 23.71 24.45
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 5.45% 2.68% 10.93% 10.07% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.02 2.84 26.74 37.51 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.33 3.14 3.38 3.19
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.32 5.56 7.17 8.46 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.21 0.09 0.88 1.31 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.07 0.49 0.97 0.98
Cash Flow/Sh
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.03) (0.02) (0.04) (0.03) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.04 0.47 0.93 0.95
Free CF/Sh
‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 5.81 1.56 1.91 2.58 ‡‡‡‡
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 33.07 32.53 30.27 28.70 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ 161.33 499.33 51.46 17.21 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.84 8.08 6.25 2.62 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 5.83 28.82 23.46 8.60 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6.35 7.70 5.83 2.33 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 751.41 90.80 45.15 20.83
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.29 15.96 29.25 28.17 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (1.08) (0.63) (1.24) (0.98) ‡‡‡‡‡ ‡‡‡‡‡
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.21 15.33 28.00 27.19 ‡‡‡‡‡
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 179.22 26.50 25.64 27.73
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.07 0.64 0.15 1.94
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (213.40) (71.39) (92.43) (72.10)
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 192.21 50.72 57.76 74.09
Sh' Equity
‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.54% 1.28% 15.32% 18.88%
ROA
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ 0.00% 0.00% 0.00% 728.68%
ROIC
‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.67% 2.34% 49.29% 56.90%
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Docebo Inc. (DCBO), a frontrunner in AI-powered learning management systems, has delivered explosive revenue growth—compounding at over 30% annually since its 2020 IPO, reaching $217 million in 2024—while achieving profitability and robust free cash flow amid edtech’s post-pandemic normalization and rising interest rates. Despite tripling revenue and flipping from losses to $27 million net income with $28 million FCF, the stock has plunged 80% from 2021 peaks, trading at discounted multiples like 29x forward P/E and 6x P/S, embedding deep pessimism even as efficiency metrics soar (revenue per employee up 52%) and debt vanishes.

Analyst forecasts signal steady 11-12% revenue growth through 2027, with EPS climbing to $1.44 and FCF yields supporting buybacks, backed by AI tailwinds like Docebo’s Shape platform amid corporate upskilling demands. Wall Street targets imply 30-70% upside, though muted insider activity tempers enthusiasm. Macro easing, geopolitical tech shifts favoring Western SaaS, and a $20 billion LMS market projection position DCBO for reacceleration.

At this inflection, DCBO offers a compelling entry for SaaS recovery plays, with profitability de-risking growth against recession fears—but watch Q4 2024 earnings for confirmation of the fundamentals-price convergence.

Docebo Inc. (DCBO) Latest News

News by impact score

Fine-tune

11 Sep

3 , 7:00 AM

Docebo Inc. announced final results of its substantial issuer bid, completing a large-scale share repurchase program. Completion of a substantial issuer bid returns significant capital to shareholders and may support share price through reduced float.

9 Sep

3 , 7:00 AM

Docebo Inc. announced preliminary results of its substantial issuer bid. Substantial issuer bid results signal major share repurchase activity affecting capital structure and market sentiment.

3 , 1:51 AM

Docebo Inc. posts higher revenue but lower profits. Mixed revenue and profit figures point to possible pressure on margins and investor sentiment without shifting core trajectory.

21 Aug

3 , 7:30 AM

Docebo Inc. increased the price of its substantial issuer bid and extended the offer period. The raised issuer bid price and extension support share repurchases that can modestly lift stock price and shareholder value.

13 Aug

4 www.marketbeat.com, 3:04 PM

Docebo Inc. targets government and healthcare sectors plus AI to capitalize on building enterprise momentum. Strategic targeting of government, healthcare and AI sectors drives major enterprise expansion and performance gains.

4 www.marketbeat.com, 4:02 AM

Docebo Inc. reports accelerated growth as enterprise adoption, AI features, and skills development strategies gain traction and support stronger performance. Enterprise, AI and skills initiatives drive accelerated growth, positioning company for stronger market performance.

7 Aug

4 , 3:00 PM

Docebo Inc reported Q2 2026 earnings call highlights showing ARR re-acceleration alongside strategic initiatives aimed at bolstering growth and market positioning. ARR re-acceleration directly signals stronger revenue growth prospects and improved investor sentiment for Docebo.

4 investorshub.advfn.com, 8:48 AM

Docebo Inc. exceeded earnings expectations and raised its full-year outlook. Earnings beats paired with raised guidance frequently drive substantial stock gains and improved investor outlook.

4 , 6:00 AM

Docebo Inc. reported its second quarter 2026 financial results. Quarterly earnings releases often drive notable shifts in company valuation and investor views.

3 transcript www.marketbeat.com, 10:04 AM

Docebo Inc. released Q2 earnings call highlights covering financial results, operational updates and outlook. Q2 earnings results and outlook directly affect near-term stock valuation and sentiment.

3 , 7:30 AM

Docebo Inc. (DCBO) exceeded Q2 earnings and revenue estimates. Earnings beats typically drive short-term stock gains without shifting long-term company trajectory.

17 Jul

4 , 1:05 PM

Docebo launches up to $70 million substantial issuer bid and releases preliminary Q2 results. $70 million buyback plus Q2 results release represent major capital action likely to shift stock trajectory and sentiment.

4 , 6:30 AM

Docebo Inc. launches substantial issuer bid and reports preliminary unaudited Q2 2026 financial results while issuing initial Q3-2026 and revised FY2026 guidance. Issuer bid combined with revised guidance signals major capital allocation shift and outlook change that directly moves valuation and investor positioning.

9 Jun

3 Simply Wall St., 10:11 AM

Valuation assumptions for Docebo Inc. (DCBO) are recalibrating, shifting the company's narrative and market perceptions. Recalibrating valuation assumptions can moderately alter investor sentiment and near-term share performance.

2 Jun

3 Insider Monkey, 2:42 PM

Docebo Inc. reported its first quarter 2026 financial results. Quarterly results provide updated performance metrics that may shift near-term investor views on operations.

17 May

3 Simply Wall St., 8:08 AM

Docebo posts strong bookings growth while subscription concerns emerge, shifting the company's overall growth narrative and investor focus toward recurring revenue sustainability. Bookings strength offset by subscription worries creates moderate near-term pressure on Docebo's valuation and growth expectations.

16 May

4 www.marketbeat.com, 12:07 AM

Docebo reports rebounding enterprise demand driven by its AI and skills tools that fuel ongoing growth. Rebounding enterprise demand plus AI tools create major positive shifts in Docebo's growth trajectory and investor outlook.

3 Simply Wall St., 7:13 AM

Docebo posted solid Q1 2026 results that triggered renewed analyst optimism and prompted an updated valuation assessment for the stock. Solid quarterly results and fresh analyst support can lift near-term sentiment and share price without guaranteeing lasting strategic change.

9 May

4 GuruFocus.com, 3:03 AM

Docebo Inc. reported strong customer engagement and financial performance in its Q1 2026 earnings call, highlighting robust growth metrics. Strong customer engagement and financial results indicate significant positive momentum for future revenue growth and market positioning.

8 May

4 www.marketbeat.com, 10:57 AM

Docebo Inc. (DCBO) released Q1 earnings call highlights covering financial results, growth metrics, and forward guidance. Q1 earnings call highlights detail financial performance, revenue growth, and strategic outlook with significant implications for investor sentiment and market trajectory.

4 Zacks, 9:30 AM

Docebo (DCBO) Q1 earnings key metrics compared to estimates, highlighting performance against analyst expectations. Q1 earnings metrics versus estimates signal financial health and directly sway investor sentiment and stock trajectory.

4 MT Newswires, 7:43 AM

Docebo Inc. (DCBO) shares rose 3.2% in US premarket trading after reporting improved Q1 adjusted earnings and revenues, while lifting FY26 revenue expectations. Strong Q1 earnings beat and raised FY26 revenue guidance indicate robust growth trajectory, significantly boosting investor sentiment and stock performance.

4 Zacks, 7:30 AM

Docebo Inc. (DCBO) Q1 earnings and revenues topped analyst estimates. Q1 earnings and revenue beats signal strong operational performance, likely boosting stock price and investor sentiment significantly.

4 Business Wire, 6:00 AM

Docebo Inc. reported first quarter 2026 results, highlighting key financial metrics and performance updates. Quarterly earnings disclosure reveals financial health, growth metrics, and guidance that significantly shape investor sentiment and stock trajectory.

7 May

3 , 1:29 PM

DCBO Q1 earnings beat estimates as revenues rose on AI-native customer demand. Q1 earnings beat with revenue growth signals moderately positive effects on near-term financial results and sentiment.

3 , 1:26 PM

Docebo Inc. beat Q3 earnings estimates with year-over-year revenue growth but shares declined after the report. Q3 earnings beat and revenue increase provide moderate visibility into financial performance without altering long-term company trajectory.

3 May

4 Simply Wall St., 4:07 AM

Docebo (TSX:DCBO) leverages its dominant LMS footprint to build a strategic AI knowledge moat, enhancing corporate learning with proprietary AI models trained on vast user-generated content, positioning it ahead of competitors. Docebo's AI integration into LMS creates a defensible competitive moat, significantly boosting innovation and market positioning.

1 May

3 Zacks, 10:00 AM

Docebo Inc. (DCBO) reports earnings next week, with Wall Street expecting growth. Upcoming earnings report with expected growth may noticeably influence financial performance and investor sentiment.

30 Apr

4 Simply Wall St., 7:04 PM

Docebo Inc. (TSX:DCBO) launched its Next Generation AI Learning Platform, sparking a valuation analysis amid expectations of enhanced growth in the e-learning market. Next-generation AI platform launch constitutes a major product innovation poised to boost competitive positioning and investor sentiment.

27 Apr

3 Zacks, 12:20 PM

Analysts are raising earnings estimates for Docebo Inc. (DCBO), indicating improving expectations and sparking debate on whether it's time to buy the stock. Rising earnings estimates signal moderately positive shifts in analyst outlook, potentially boosting short-term market sentiment and stock performance.