Docebo tenfold profit increase to $26M

“We are pleased to announce Q4 and annual results, with revenue beating our expectations and profitability coming in at the high end of our guidance even as we invest in our growth initiatives. Our AI-driven platform continues to differentiate Docebo with the capabilities to support complex, multi-use case requirements,” stated Alessio Artuffo, President and CEO. 

“Our competitive position continued to gain strength with the successful launch of three new products: AI Authoring, Advanced Analytics, and Communities. The positive response from customers and channel partners is strengthening our enterprise pipeline, setting us up for solid growth in the year ahead.”

• Subscription revenue of $204.3 million, an increase of 20% from the comparative period in the prior year, represented 94% of total revenue.
• Total revenue of $216.9 million, an increase of 20% from the comparative period in the prior year.
• Gross profit of $175.6 million, an increase of 20% from the comparative period in the prior year, represented 81.0% of revenue compared to 80.9% of revenue for the comparative period in the prior year.
• Net income of $26.7 million, or $0.88 per share, compared to net income of $2.8 million, or $0.09 per share, for the comparative period in the prior year.

Docebo is  used by 3,978 customers, an increase from 3,759 at the end of 2023.

Average Contract Value is $55,229, an increase from $51,689 in 2023.

Notable new customer wins in include the YMCA of the USA (Y-USA), the national resource office for the YMCA dedicated to strengthening community, chose Docebo to upgrade their learning & knowledge platform from a legacy, internally developed LMS. Working with one of its large systems integrator partners, an immersive analysis was undertaken in order to better understand Y-USA's immediate and longer-term learning Employee Experience needs for onboarding, compliance and leadership training use cases.