Executive Summary
Docebo Inc. provides a cloud-based SaaS learning platform to train external workforces, partners, and customers in North America, Europe, and the Asia-Pacific region.
Rewards
Risk Analysis
Currently unprofitable and not forecast to become profitable over the next 3 years
Snowflake Analysis
Adequate balance sheet with limited growth.
Similar Companies
Share Price & News
How has Docebo's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: DCBO's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
6.7%
DCBO
3.8%
CA Software
-0.5%
CA Market
1 Year Return
n/a
DCBO
32.3%
CA Software
-12.7%
CA Market
Return vs Industry: Insufficient data to determine how DCBO performed against the Canadian Software industry.
Return vs Market: Insufficient data to determine how DCBO performed against the Canadian Market.
Shareholder returns
| DCBO | Industry | Market | |
|---|---|---|---|
| 7 Day | 6.7% | 3.8% | -0.5% |
| 30 Day | 43.1% | 9.5% | -3.2% |
| 90 Day | 161.0% | 38.4% | 7.8% |
| 1 Year | n/a | 32.7%32.3% | -9.6%-12.7% |
| 3 Year | n/a | 99.7%95.3% | 3.0%-6.9% |
| 5 Year | n/a | 159.1%149.9% | 19.1%1.1% |
Price Volatility Vs. Market
How volatile is Docebo's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Earnings Beat: Docebo Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models2 months ago | Simply Wall St
Do Directors Own Docebo Inc. (TSE:DCBO) Shares?3 months ago | Simply Wall St
How Many Docebo Inc. (TSE:DCBO) Shares Did Insiders Buy, In The Last Year?Valuation
Is Docebo undervalued compared to its fair value and its price relative to the market?
28.6x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: DCBO (CA$39.7) is trading above our estimate of fair value (CA$1.53)
Significantly Below Fair Value: DCBO is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: DCBO is unprofitable, so we can't compare its PE Ratio to the Software industry average.
PE vs Market: DCBO is unprofitable, so we can't compare its PE Ratio to the Canadian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate DCBO's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: DCBO is overvalued based on its PB Ratio (28.6x) compared to the CA Software industry average (3.5x).
Next Steps
Future Growth
How is Docebo forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
86.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DCBO is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: DCBO is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: DCBO is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: DCBO's revenue (31.4% per year) is forecast to grow faster than the Canadian market (5.5% per year).
High Growth Revenue: DCBO's revenue (31.4% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if DCBO's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Docebo performed over the past 5 years?
-25.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DCBO is currently unprofitable.
Growing Profit Margin: DCBO is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: DCBO is unprofitable, and losses have increased over the past 5 years at a rate of -25% per year.
Accelerating Growth: Unable to compare DCBO's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: DCBO is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (29.1%).
Return on Equity
High ROE: DCBO has a negative Return on Equity (-29.58%), as it is currently unprofitable.
Next Steps
Financial Health
How is Docebo's financial position?
Financial Position Analysis
Short Term Liabilities: DCBO's short term assets ($59.7M) exceed its short term liabilities ($31.9M).
Long Term Liabilities: DCBO's short term assets ($59.7M) exceed its long term liabilities ($4.4M).
Debt to Equity History and Analysis
Debt Level: DCBO's debt to equity ratio (0.1%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if DCBO's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: DCBO has sufficient cash runway for more than 3 years based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if DCBO has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
Next Steps
Dividend
What is Docebo current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate DCBO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate DCBO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if DCBO's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if DCBO's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of DCBO's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.5yrs
Average management tenure
CEO
Claudio Erba (46yo)
15.5yrs
Tenure
US$832,774
Compensation
Mr. Claudio Erba serves as Founder of Docebo S.p.A., and has been its Chief Executive Officer since March 2005. He serves as a Director at Docebo S.p.A. Mr. Erba served as a Board Vice President of RYSTO s ...
CEO Compensation Analysis
Compensation vs Market: Claudio's total compensation ($USD832.77K) is below average for companies of similar size in the Canadian market ($USD1.62M).
Compensation vs Earnings: Insufficient data to compare Claudio's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 15.5yrs | US$832.77k | 5.6% $63.7m | |
| Chief Financial Officer | no data | US$776.22k | 0.13% $1.5m | |
| Chief Operating Officer | 2.5yrs | US$533.99k | no data | |
| Chief Technology Officer | 8.5yrs | US$298.33k | no data | |
| Chief Revenue Officer | 8.5yrs | US$674.46k | no data | |
| Communications & Public Relations Manager | no data | no data | no data | |
| Global Head of Learning & Support | 0.50yr | no data | no data |
8.5yrs
Average Tenure
Experienced Management: DCBO's management team is seasoned and experienced (8.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 15.5yrs | US$832.77k | 5.6% $63.7m | |
| Independent Director | 1yr | US$74.10k | 0.079% $900.0k | |
| Independent Director | 4.25yrs | US$69.29k | 11.2% $127.5m | |
| Independent Chair of the Board | no data | US$69.29k | 62.29% $709.4m | |
| Independent Director | 1.75yrs | US$149.17k | 0.053% $600.0k | |
| Director | 1yr | US$292.50k | 0.053% $600.0k | |
| Independent Director | 3.17yrs | US$69.29k | 0.14% $1.7m |
2.5yrs
Average Tenure
49yo
Average Age
Experienced Board: DCBO's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: DCBO insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: DCBO only recently listed within the past 12 months.
Top Shareholders
Company Information
Docebo Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Docebo Inc.
- Ticker: DCBO
- Exchange: TSX
- Founded: 2005
- Industry: Application Software
- Sector: Software
- Market Cap: CA$1.139b
- Shares outstanding: 28.47m
- Website: https://www.docebo.com
Number of Employees
Location
- Docebo Inc.
- 366 Adelaide Street West
- Suite 701
- Toronto
- Ontario
- M5V 1R9
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DCBO | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Oct 2019 |
| DCBO.F | OTCPK (Pink Sheets LLC) | Yes | Common Shares | US | USD | Oct 2019 |
Biography
Docebo Inc. provides a cloud-based SaaS learning platform to train external workforces, partners, and customers in North America, Europe, and the Asia-Pacific region. Its platform helps customers to centralize learning materials from peer enterprises and learners into one learning management system to expedite and enrich the learning process, increase productivity, and grow teams uniformly. The company’s learning platform includes Docebo Learn, a foundational module that enables learning administrators to centralize, organize, and distribute learning content, track certifications, and measure results with customer analytics; Docebo Discover, Coach & Share that provides personalized curated content and access to social learning by sharing of knowledge; and Docebo Extended Enterprise that allows businesses to manage various portals for audiences. It also provides Docebo for Salesforce, a native integration that leverages Salesforce’s application programming interface and technology architecture to produce a learning experience; and Docebo Embed (OEM), which eliminates disjointed learner experiences, long development cycles, and ineffective partner models by allowing original equipment manufacturers to embed and re-sell Docebo as a part of their software. In addition, the company offers Docebo Mobile App Publisher product that allows companies to create and publish own branded version of Docebo Go.Learn mobile learning applications; Docebo Virtual Coach, an AI-powered assistant; Docebo Mobile Pages that enable administrators to develop mobile learning environments; and Docebo Discover that curate personalized learning content based on the skills that learners want to develop for customers. It serves customers in the technology, media and entertainment, manufacturing, consumer products, financial services, and retail industries. The company was formerly known as Docebo Canada, Inc. Docebo Inc. founded in 2005 and is headquartered in Toronto, Canada.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/07/09 23:58 |
| End of Day Share Price | 2020/07/09 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.