Docebo Inc.(DCBO)Earnings, Financials & Key Ratios
DCBO•NASDAQ
$18.44
14.2× P/E·Price updated Jul 6, 2026
AboutDocebo Inc. provides a cloud-based learning management system to train internal and 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 (LMS) to expedite and enrich the learning process, increase productivity, and grow teams uniformly. The company's learning platform includes Docebo Learn LMS, a cloud-based learning platform; Docebo Shape, an AI-based learning content creation tool; Docebo Content that allows to unlock the industry's best-learning content; Docebo Learning Impact, a learning measurement tool; Docebo Learning Analytics that allows learning administrators to prove their learning programs are powering their business, as well as connecting learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work. 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) that allows 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 Extended Enterprise that breeds customer education, partner enablement, and retention; and Docebo Discover, Coach & Share that enhances the learning experience to create a culture of social learning. It serves customers in the technology, media, manufacturing, consulting and professional services, and retail industries. The company was formerly known as Docebo Canada, Inc. Docebo Inc. founded in 2005 and is based in Toronto, Canada.Show more
- Revenue$247M+13.8%
- EBITDA$28M+14.1%
- Net Income$38M+42.8%
- EPS (Diluted)1.30+51.2%
- Gross Margin78.97%-2.5%
- EBITDA Margin11.4%+0.2%
- Operating Margin10.09%+2.8%
- Net Margin15.46%+25.4%
- ROE57.96%+17.6%
DCBO Price & Volume
Docebo Inc. (DCBO) stock price & volume — 10-year historical chart
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Decelerating Growth Challenges Aggressive Capital Allocation Strategy
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Decelerating
Profitability:Moderate
Financial:Strained
Cash Flow:Mixed
Primary Risk:Enterprise Software Consolidation Headwinds
Key Thesis Takeaways
- Docebo faces a critical transition as revenue growth has normalized to 12.9% in 2026Q1, down from 26.5% in 2023Q4, while the company simultaneously pivots toward a more leveraged capital structure.
- Despite maintaining resilient gross margins near 75.2%, the firm's aggressive share repurchases and debt accumulation have eroded equity to a negative $618.0K position.
- Investors should monitor whether the company can sustain its competitive position against integrated productivity suites while managing the risks associated with its recent $84.1M debt load.
Verdict Logic
while the company maintains a low CapEx/Revenue ratio of 0.2% in 2026Q1, the deterioration of the balance sheet to a negative equity position and decelerating growth suggest significant execution risks.
DCBO Growth Metrics
Docebo Inc. (DCBO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years31.45%
3 Years20%
TTM12.37%
Profit CAGR
10 Years-
5 Years-
3 Years75.86%
TTM50.98%
EPS CAGR
10 Years-
5 Years-
3 Years86.63%
TTM60.42%
Return on Capital
10 Years-3.76%
5 Years12.51%
3 Years22.35%
Last Year34.4%
DCBO Recent Earnings
Docebo Inc. (DCBO) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 8, 2026Metric
Actual
Est
EPS
$0.34+3.0%
$0.33
Rev
$65M+0.4%
$64M
Q1 2026
Feb 27, 2026Metric
Actual
Est
EPS
$0.45+29.9%
$0.35
Rev
$63M+0.3%
$62M
Q4 2025
Nov 7, 2025Metric
Actual
Est
EPS
$0.34+3.0%
$0.33
Rev
$61M-1.8%
$62M
Q3 2025
Aug 8, 2025Metric
Actual
Est
EPS
$0.29+45.0%
$0.20
Rev
$61M-0.2%
$61M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 8, 2026 | $0.34vs $0.33+3.0% | $65Mvs $64M+0.4% |
| Q1 2026 | Feb 27, 2026 | $0.45vs $0.35+29.9% | $63Mvs $62M+0.3% |
| Q4 2025 | Nov 7, 2025 | $0.34vs $0.33+3.0% | $61Mvs $62M-1.8% |
| Q3 2025 | Aug 8, 2025 | $0.29vs $0.20+45.0% | $61Mvs $61M-0.2% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Docebo Inc. (DCBO)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $18.44 | $530.42M | 14.18 | 13.83% | 15.46% | 57.96% | — | |
| $7.51 | $67.35M | -0.46 | -3.45% | -30% | — | — | |
| $160.49 | $187.01B | 23.46 | 7.68% | 19.58% | 16.69% | — | |
| $137.99 | $36.15B | 53.48 | 13.1% | 8.6% | 10.41% | — | |
| $165.65 | $135.67B | 21.24 | 9.58% | 18.73% | 14.95% | — | |
| $386.74 | $2.87T | 28.35 | 14.93% | 39.34% | 33.13% | — |
Compare DCBO vs Peers
Docebo Inc. (DCBO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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DCBO Frequently Asked Questions
Docebo Inc. (DCBO) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Docebo Inc.'s revenue?
Docebo Inc. (DCBO) reported $250.4M in revenue for fiscal year 2025. This represents a 1362% increase from $17.1M in 2017.
How fast is Docebo Inc. growing?
Docebo Inc. (DCBO) grew revenue by 13.8% over the past year. This is steady growth.
Is DCBO profitable?
Yes, Docebo Inc. (DCBO) is profitable, generating $34.8M in net income for fiscal year 2025 (15.5% net margin).
Dividend & Returns
What is DCBO's return on equity?
Docebo Inc. (DCBO) has a return on equity (ROE) of 58.0%. This is excellent, indicating efficient use of shareholder capital.
What is Docebo Inc.'s free cash flow?
Docebo Inc. (DCBO) generated $43.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.