Docebo Posts $0.45 EPS Beat, Strongest Q4 Bookings Since 2021
Docebo delivered its strongest Q4 gross bookings since 2021 and exceeded EPS forecasts with $0.45 per share on a 60% new logo to 40% expansion bookings mix. Management plans to leverage enterprise execution, 365Talents integration and FedRAMP compliance to support 10-11% revenue growth in 2026.
1. Q4 Performance Highlights
Docebo achieved its strongest gross bookings since Q4 2021, with a 60% new logo to 40% expansion bookings mix and reported Q4 EPS of $0.45, surpassing estimates. Net dollar retention reached 99%, or 101% excluding AWS, reflecting sequential improvement.
2. Growth Drivers and 2026 Guidance
Management expects enterprise performance to be the primary lever for growth in 2026, targeting 10-11% revenue expansion. Mid-market remains healthy but will not drive acceleration, while retention improvements in customers under $50,000 ARR support stability.
3. AI Strategy and 365Talents Integration
Docebo highlighted multi-year AI investments and described the acquisition of 365Talents as a milestone for adding an incremental data mode. The companies have an integration in production and aim to link skills architectures with learning workflows.
4. Government Segment and FedRAMP Compliance
The company achieved FedRAMP compliance in May 2025, generating an early government pipeline that exceeds expectations but is expected to contribute meaningfully in 2027. ARR timing near fiscal-year end limits 2026 revenue impact.