Canada's Docebo Q2 revenue rises on subscription growth
DCBO•Outlook
- Docebo sees Q3 subscription revenue between $64.9 mln and $65.1 mln.
- Company expects Q3 total revenue between $69.5 mln and $69.7 mln.
- Docebo raises full-year outlook; sees 2026 total revenue $274.5 mln to $276.5 mln.
Result drivers
- Subscription revenue - Q2 revenue growth was primarily driven by a 12% yr/yr increase in subscription revenue, including a positive impact from foreign currency movements.
- Enterprise customer momentum - Co cited new wins and expansions with large global enterprises and public sector clients as supporting continued growth.
- OEM customer impact - ARR growth was stronger when excluding the largest OEM customer and adjusting for acquisitions and FX.
Key details and analyst coverage
| Metric | Actual |
|---|---|
| Q2 Revenue | $68.70 mln |
| Q2 Adjusted EPS | $0.35 |
| Q2 Adjusted Net Income | $9.40 mln |
| Q2 Adjusted EBITDA | $11.20 mln |
| Q2 Gross Profit | $54.50 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
