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Docebo Inc
Docebo Inc., a trailblazer in the realm of Learning Management Systems (LMS), has woven its narrative into the digital transformation tapestry, reshaping how companies train their employees and partners. Born in Italy and now headquartered in Toronto, this tech entity skillfully navigates the intersection of innovation and education by providing a cloud-based platform that simplifies and enriches corporate training experiences. Docebo leverages artificial intelligence to tailor content delivery, learning paths, and assessments to individual user needs, enhancing engagement and effectiveness. By transforming traditional training sessions into dynamic, interactive online experiences, Docebo addresses the fast-evolving educational needs of an increasingly remote and global workforce.
The company's business model pivots on a subscription-based strategy that ensures a steady stream of recurring revenue, characteristic of SaaS (Software as a Service) enterprises. This model not only provides financial stability but also fosters long-term customer relationships. Docebo's clientele ranges from small businesses to large enterprises, drawn by the promise of scalable solutions that can evolve in line with their growth. By constantly augmenting its platform with new features and integrations, Docebo strengthens its competitive position in a crowded market. Essentially, the company makes money by providing a sophisticated yet user-friendly toolkit that empowers organizations to create, manage, and track learning experiences, all while driving their digital transformation agendas forward.
Docebo Inc., a trailblazer in the realm of Learning Management Systems (LMS), has woven its narrative into the digital transformation tapestry, reshaping how companies train their employees and partners. Born in Italy and now headquartered in Toronto, this tech entity skillfully navigates the intersection of innovation and education by providing a cloud-based platform that simplifies and enriches corporate training experiences. Docebo leverages artificial intelligence to tailor content delivery, learning paths, and assessments to individual user needs, enhancing engagement and effectiveness. By transforming traditional training sessions into dynamic, interactive online experiences, Docebo addresses the fast-evolving educational needs of an increasingly remote and global workforce.
The company's business model pivots on a subscription-based strategy that ensures a steady stream of recurring revenue, characteristic of SaaS (Software as a Service) enterprises. This model not only provides financial stability but also fosters long-term customer relationships. Docebo's clientele ranges from small businesses to large enterprises, drawn by the promise of scalable solutions that can evolve in line with their growth. By constantly augmenting its platform with new features and integrations, Docebo strengthens its competitive position in a crowded market. Essentially, the company makes money by providing a sophisticated yet user-friendly toolkit that empowers organizations to create, manage, and track learning experiences, all while driving their digital transformation agendas forward.
ARR Growth (Ex-Dayforce): Annual recurring revenue, excluding Dayforce, grew by 14% year-over-year for the second consecutive quarter.
FedRAMP Progress: Docebo secured two new U.S. federal customers shortly after May's FedRAMP listing, ahead of initial expectations, and expanded its pipeline in both federal and SLED markets.
Enterprise Momentum: Strong sequential growth in customers with contracts over $100,000, highlighted by key wins like Veolia and Amazon Health, with system integrator partnerships playing a major role.
Dayforce Wind Down: The Dayforce OEM contract is winding down faster than anticipated, now at 6.2% of ARR, and is expected to become immaterial after 2027.
Retention Improvement: Retention metrics improved for the second consecutive quarter, aided by lapping last year’s large Thomson Reuters downgrade, but are expected to dip next quarter due to the AWS contract roll-off.
AI Monetization: New AI credit-based modules have launched, with early traction and planned expansion for deeper monetization and differentiation.
EBITDA Margin: Docebo reached a 20% EBITDA margin earlier than planned, with management targeting even higher margins mid-term through G&A leverage.
Mid-Market Strength: Continued outperformance in the mid-market segment, contributing to higher professional services revenue and robust pipeline.