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Updated 4h ago
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Docebo Inc.NasdaqGS:DCBO Stock Report

Market Cap US$590.2m
Updated 4h ago
Share Price
n/a
1Y-22.5%
7D-8.1%
1D-1.2%
Portfolio Value
​
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Docebo Inc.

NasdaqGS:DCBO Stock Report

Market Cap: US$590.2m

  • Company Overview
  • Valuation
  • Future Growth
  • Past Performance
  • Financial Health
  • Dividend
  • Management
  • Ownership
  • Other Information
  • Stock Community

Docebo (DCBO) Stock Overview

Develops and provides learning management platform for training in Canada, the United States, and internationally. More details

DCBO fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance3/6
Financial Health2/6
Dividends0/6

Rewards

Trading at 64.1% below our estimate of its fair value

Earnings are forecast to grow 17.46% per year

Earnings grew by 56.9% over the past year

Trading at good value compared to peers and industry

Risk Analysis

Negative shareholders equity

Has a high level of debt

Large one-off items impacting financial results


DCBO Community Fair Values

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US$
Current Price
US$23.4235.4% undervalued intrinsic discount
%/yr
Decrease
Increase
PastFuture-18m424m2016201920222025202620282031Revenue US$423.8mEarnings US$55.0m
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Docebo Inc. Competitors

Ooma

Symbol: NYSE:OOMA
Market cap: US$630.4m

Yext

Symbol: NYSE:YEXT
Market cap: US$602.8m

Consensus Cloud Solutions

Symbol: NasdaqGS:CCSI
Market cap: US$666.7m

Viant Technology

Symbol: NasdaqGS:DSP
Market cap: US$852.2m

Price History & Performance

Summary of share price highs, lows and changes for Docebo
Historical stock prices
Current Share PriceCA$23.42
52 Week HighCA$30.80
52 Week LowCA$14.39
Beta0.80
1 Month Change1.56%
3 Month Change29.54%
1 Year Change-22.45%
3 Year Change-43.18%
5 Year Change-74.63%
Change since IPO29.32%

Recent News & Updates

Seeking Alpha • Aug 19

Docebo Appears Poised For Revenue Growth Gains (Upgrade)

Summary Docebo appears to be stabilizing previously deteriorating revenue growth, and its Gen AI initiatives offer potential for reacceleration. DCBO trades at a substantial discount to SaaS peers, reflecting slower forward growth (11.8% vs. 15% index) and Gen AI disruption risks. Recent financials show sequential gross margin improvement, disciplined SG&A/R&D spend, and robust free cash flow with low stock-based compensation. Aggressive share repurchases and a $70M issuer bid may support the stock, but rising R&D and margin pressures warrant caution. I'm upgrading DCBO to a Hold on the possibility of revenue growth acceleration ahead. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Aug 19

Docebo Appears Poised For Revenue Growth Gains (Upgrade)

Summary Docebo appears to be stabilizing previously deteriorating revenue growth, and its Gen AI initiatives offer potential for reacceleration. DCBO trades at a substantial discount to SaaS peers, reflecting slower forward growth (11.8% vs. 15% index) and Gen AI disruption risks. Recent financials show sequential gross margin improvement, disciplined SG&A/R&D spend, and robust free cash flow with low stock-based compensation. Aggressive share repurchases and a $70M issuer bid may support the stock, but rising R&D and margin pressures warrant caution. I'm upgrading DCBO to a Hold on the possibility of revenue growth acceleration ahead. Read the full article on Seeking Alpha
Seeking Alpha • Mar 07

Docebo Disappoints As Revenue Growth Outlook Dims (Downgrade)

Summary Docebo's Q4 2024 results beat revenue and earnings estimates, but forward revenue growth guidance has become tepid. The e-learning market is projected to grow significantly, driven by upskilling, hybrid work, and cost efficiencies, but Docebo's growth has been disappointing. Despite improved operating leverage and margins, Docebo's revenue growth rate has fallen, and major customer downgrades have impacted net dollar retention rates. Given the uncertain revenue growth and earnings trajectory, my outlook is Neutral (hold) on Docebo until we get further visibility. Read the full article on Seeking Alpha
Seeking Alpha • Dec 27

Docebo: Positive On The Long-Term Growth Outlook

Summary I am positive on Docebo due to its large TAM and significant growth potential in the enterprise market. DCBO's cloud-based LMS platform excels in customer training, driving strong demand and positioning it well to capture the employee training market. Penetrating the enterprise market and adopting a value-based pricing model should extend DCBO's growth runway and increase ARR per customer. Read the full article on Seeking Alpha
Seeking Alpha • Oct 18

Docebo Improves Operating Leverage And Readies US Government Push (Upgrade)

Summary Docebo Inc. is successfully broadening its customer base and moving upmarket. The global e-learning market is projected to grow at a CAGR of 18.6% from 2024 to 2030, driven by cost efficiencies and hybrid work environments. Docebo's financials show rising revenue, stable gross profit margins, and improved operating income due to automation, with no debt and strong free cash flow. The company's focus on larger enterprise clients, higher average contract values, and streamlined pricing supports my Bullish outlook, especially with potential U.S. FedRAMP certification. Read the full article on Seeking Alpha
Seeking Alpha • Jul 29

Docebo: Margins Are Rising As Growth Decelerates

Summary Shares have declined nearly 20% since the Q1 earnings report due to management's guidance indicating a slowdown in growth. Management highlighted several initiatives that could potentially re-accelerate revenue growth, but their impact will likely be seen only next year. Margins have improved substantially, approaching 20%, with solid FCF generation. Read the full article on Seeking Alpha
Seeking Alpha • May 13

Docebo Contends With Troubled Lower-End Market

Summary Docebo Inc. reported better-than-expected Q1 2024 financial results, but is facing demand weakness and increased customer churn. The E-learning market is projected to reach $1 trillion by 2032, driven by technology development and increasing internet usage. Docebo's financial performance has improved, but it is experiencing churn in its small and mid-market segments. I remain Neutral [Hold] on Docebo Inc. shares for now. Read the full article on Seeking Alpha
Seeking Alpha • Feb 26

Beneficial Guidance, AI Technologies, And Restructuring Make Docebo A Buy

Summary Docebo has reported better-than-expected earnings and quarterly net sales, with new customers including a Big 4 US-based bank and Major League Baseball. The company's business model revolves around using AI technologies to provide innovative learning solutions, and it has a strong presence in North America. Docebo has implemented a stock repurchase program and has set ambitious goals for future financial growth. Read the full article on Seeking Alpha

Shareholder Returns

DCBOUS SoftwareUS Market
7D-8.1%-0.7%-0.2%
1Y-22.5%-9.0%14.8%

Return vs Industry: DCBO underperformed the US Software industry which returned -9% over the past year.

Return vs Market: DCBO underperformed the US Market which returned 14.8% over the past year.

Price Volatility

Is DCBO's price volatile compared to industry and market?
DCBO volatility
DCBO Average Weekly Movement7.4%
Software Industry Average Movement9.2%
Market Average Movement6.9%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.9%

Stable Share Price: DCBO has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: DCBO's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2005966Alessio Artuffowww.docebo.com

Docebo Inc. develops and provides learning management platform for training in Canada, the United States, and internationally. The company’s cloud platform consists of a learning suite, which includes Docebo Learn platform, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Content Marketplace, an access to off-the-shelf learning content and provide predeveloped learning content; Insights module allows organizations to understand the results of learning programs with data visualizations; Learning Evaluation module to incorporate the learner’s perspective into analyses by collection of feedback; and Advanced Analytics Pack to integrate learning data into data ecosystem and BI tool. It also offers Communities module enabling interactive learner communities; eCommerce module that monetize from digital training contents, as well as manage and sells training offerings; eCommerce module to monetize training programs; Docebo Integrations; Headless Learning allows businesses to build learning experiences outside of the Docebo learning environment; Harmony Search, an AI-powered search capability.

Docebo Inc. Fundamentals Summary

How do Docebo's earnings and revenue compare to its market cap?
DCBO fundamental statistics
Market capUS$590.19m
Earnings (TTM)US$33.60m
Revenue (TTM)US$258.93m
17.3x
P/E Ratio
2.3x
P/S Ratio

Is DCBO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
DCBO income statement (TTM)
RevenueUS$258.93m
Cost of RevenueUS$52.71m
Gross ProfitUS$206.22m
Other ExpensesUS$172.62m
EarningsUS$33.60m

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

n/a

Earnings per share (EPS)1.35
Gross Margin79.64%
Net Profit Margin12.98%
Debt/Equity Ratio-28,741.8%

How did DCBO perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/10 23:46
End of Day Share Price 2026/09/10 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
  • SEC Form 10-K
  • SEC Form 10-Q
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
  • Analyst Research Reports
  • Blue Matrix
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
  • ICE Market Data
  • SEC Form S-1
Ownership10 years
  • Top shareholders
  • Insider trading
  • SEC Form 4
  • SEC Form 13D
Management10 years
  • Leadership team
  • Board of directors
  • SEC Form 10-K
  • SEC Form DEF 14A
Key Developments10 years
  • Company announcements
  • SEC Form 8-K

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Docebo Inc. is covered by 18 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gavin FairweatherATB Cormark
Martin TonerATB Cormark
Phillip LeytesBerenberg

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