Docebo Sees Strongest Q4 Bookings Since 2021, Acquires 365Talents and Approves $60M Buyback
Docebo's Q4 2025 bookings reached their highest level since Q4 2021, while EBITDA grew 40% year-over-year and enterprise customers spending over $100K increased 25%. The company acquired 365Talents ($7.5M ARR) expected to grow 30% CAGR and launched a $60M share repurchase program.
1. Robust Q4 Bookings and Financial Performance
Docebo reported its strongest Q4 2025 bookings since Q4 2021, with mid-market and EMEA demand particularly strong. The number of customers spending over $100,000 annually rose 25%, while Q4 EBITDA grew 40% year-over-year and full-year EBITDA increased 30%. The company also reduced its share count by 5% through lower stock-based compensation.
2. 365Talents Acquisition and Growth Outlook
Docebo acquired 365Talents, an asset with approximately $7.5 million of ARR growing at 45%–50%. Management expects the business to compound at a 30% CAGR over the next three years, with standalone sales beginning in H1 2026 and cross-selling into Docebo’s installed base in H2 2026.
3. AI Platform Enhancements
The company highlighted its AI learning platform offerings, including an AI content authoring tool, Harmony Search for contextual asset retrieval, a monetized Virtual Coach for role simulation, and a non-monetized Copilot expected to drive engagement. These features target both internal and external learning use cases with high potential ticket sizes.
4. Share Repurchase and Capital Allocation
Docebo approved a $60 million share repurchase program as part of its capital allocation strategy, reflecting confidence in cash flow generation. With stock-based compensation at 2% of revenue and a declining share count, management emphasized disciplined deployment of capital to enhance shareholder value.