TSX:DCBO

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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.


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

DCBOIndustryMarket
7 Day6.7%3.8%-0.5%
30 Day43.1%9.5%-3.2%
90 Day161.0%38.4%7.8%
1 Yearn/a32.7%32.3%-9.6%-12.7%
3 Yearn/a99.7%95.3%3.0%-6.9%
5 Yearn/a159.1%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

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

NamePositionTenureCompensationOwnership
Claudio Erba
CEO, President & Director15.5yrsUS$832.77k5.6% $63.7m
Ian Kidson
Chief Financial Officerno dataUS$776.22k0.13% $1.5m
Martino Bagini
Chief Operating Officer2.5yrsUS$533.99kno data
Fabio Pirovano
Chief Technology Officer8.5yrsUS$298.33kno data
Alessio Artuffo
Chief Revenue Officer8.5yrsUS$674.46kno data
Rob Ayre
Communications & Public Relations Managerno datano datano data
Graeme Petrie
Global Head of Learning & Support0.50yrno datano data

8.5yrs

Average Tenure

Experienced Management: DCBO's management team is seasoned and experienced (8.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Claudio Erba
CEO, President & Director15.5yrsUS$832.77k5.6% $63.7m
Steven Spooner
Independent Director1yrUS$74.10k0.079% $900.0k
Daniel Klass
Independent Director4.25yrsUS$69.29k11.2% $127.5m
Jason Chapnik
Independent Chair of the Boardno dataUS$69.29k62.29% $709.4m
Kristin Perry
Independent Director1.75yrsUS$149.17k0.053% $600.0k
James Merkur
Director1yrUS$292.50k0.053% $600.0k
William Anderson
Independent Director3.17yrsUS$69.29k0.14% $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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DCBOTSX (The Toronto Stock Exchange)YesCommon SharesCACADOct 2019
DCBO.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDOct 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/09 23:58
End of Day Share Price2020/07/09 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.