NASDAQ : DCBO
Docebo Inc. — Financial statements
Technology · Software - Application · Canada
Last price 29.47 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 739.17M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Docebo Inc. (DCBO) reported revenue of 258.93M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 258.93M | 242.69M | 216.93M | 180.84M | 142.91M | 104.24M |
| Cost of Revenue | 52.71M | 47.99M | 41.63M | 34.71M | 28.27M | 20.94M |
| Gross Profit | 206.22M | 194.70M | 175.30M | 146.13M | 114.64M | 83.30M |
| Selling, General & Admin | 116.20M | 112.00M | 108.29M | 105.88M | 94.30M | 73.56M |
| Research & Development | 49.45M | 49.84M | 44.72M | 36.43M | 24.93M | 20.70M |
| Operating Expenses | 171.32M | 165.03M | 156.40M | 145.45M | 121.57M | 96.28M |
| Operating Income | 34.90M | 29.67M | 18.91M | 680.00K | -6.93M | -12.98M |
| Interest Expense | -1.80M | -146.00K | -185.00K | -296.00K | -376.00K | -494.00K |
| Interest & Investment Income | 871.00K | 1.86M | 2.68M | 7.96M | 3.83M | 437.00K |
| Currency Exchange Gain (Loss) | -3.91M | -1.24M | 2.38M | -4.39M | 11.11M | -473.00K |
| Other Non Operating Income (Expenses) | -544.00K | -504.00K | -75.00K | -267.00K | 61.00K | 77.00K |
| EBT Excluding Unusual Items | 29.52M | 29.64M | 23.71M | 3.69M | 7.70M | -13.43M |
| Merger & Restructuring Charges | -13.02M | -5.19M | ||||
| Other Unusual Items | 504.00K | 1.16M | 85.00K | |||
| Pretax Income | 17.00M | 24.45M | 23.71M | 4.85M | 7.78M | -13.43M |
| Income Tax Expense | -16.60M | -13.07M | -3.02M | 2.01M | 764.00K | 172.00K |
| Earnings From Continuing Operations | 33.60M | 37.51M | 26.74M | 2.84M | 7.02M | -13.60M |
| Net Income | 33.60M | 37.51M | 26.74M | 2.84M | 7.02M | -13.60M |
| Net Income to Common | 33.60M | 37.51M | 26.74M | 2.84M | 7.02M | -13.60M |
| Shares Outstanding (Basic) | 26.66M | 28.69M | 30.27M | 32.53M | 33.07M | 32.87M |
| Shares Outstanding (Diluted) | 27.51M | 29.37M | 30.99M | 33.68M | 34.04M | 32.87M |
| EPS (Basic) | 1.26 | 1.31 | 0.88 | 0.09 | 0.21 | -0.41 |
| EPS (Diluted) | 1.22 | 1.28 | 0.86 | 0.08 | 0.21 | -0.41 |
| Free Cash Flow | 35.04M | 27.19M | 28.00M | 15.33M | 1.21M | -4.40M |
| Free Cash Flow Per Share | 1.27 | 0.93 | 0.90 | 0.46 | 0.04 | -0.13 |
| Gross Margin | 79.64% | 80.23% | 80.81% | 80.81% | 80.22% | 79.91% |
| Operating Margin | 13.48% | 12.23% | 8.72% | 0.38% | -4.85% | -12.45% |
| Profit Margin | 12.98% | 15.46% | 12.32% | 1.57% | 4.91% | -13.05% |
| Free Cash Flow Margin | 13.53% | 11.21% | 12.91% | 8.48% | 0.84% | -4.22% |
| EBITDA | 36.94M | 30.97M | 20.37M | 2.09M | -5.60M | -11.93M |
| EBITDA Margin | 14.27% | 12.76% | 9.39% | 1.16% | -3.92% | -11.44% |
| D&A For EBITDA | 2.04M | 1.30M | 1.46M | 1.41M | 1.33M | 1.05M |
| EBIT | 34.90M | 29.67M | 18.91M | 680.00K | -6.93M | -12.98M |
| EBIT Margin | 13.48% | 12.23% | 8.72% | 0.38% | -4.85% | -12.45% |
| Effective Tax Rate | 41.39% | 9.82% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 45.72M | 74.04M | 92.54M | 71.95M | 216.29M | 215.32M |
| Cash & Short-Term Investments | 45.72M | 74.04M | 92.54M | 71.95M | 216.29M | 215.32M |
| Accounts Receivable | 50.12M | 50.59M | 43.27M | 39.92M | 32.59M | 25.32M |
| Other Receivables | 4.84M | 5.50M | 2.38M | 2.90M | 5.55M | 2.56M |
| Receivables | 54.95M | 56.09M | 45.65M | 42.82M | 38.14M | 27.88M |
| Prepaid Expenses | 9.36M | 11.70M | 8.60M | 5.99M | 6.38M | 6.99M |
| Other Current Assets | 10.33M | 9.70M | 7.45M | 6.39M | 2.78M | 1.39M |
| Total Current Assets | 120.36M | 151.52M | 154.24M | 127.15M | 263.58M | 251.59M |
| Property, Plant & Equipment | 7.49M | 4.43M | 3.13M | 3.45M | 4.66M | 5.70M |
| Goodwill | 53.67M | 14.54M | 13.85M | 14.25M | 5.98M | 5.30M |
| Other Intangible Assets | 23.66M | 1.03M | 1.67M | 2.40M | 1.15M | 1.58M |
| Long-Term Accounts Receivable | 45.00K | 241.00K | 204.00K | |||
| Long-Term Deferred Tax Assets | 20.43M | 20.03M | 5.21M | 325.00K | 118.00K | |
| Long-Term Deferred Charges | 17.10M | 15.10M | 12.61M | 10.75M | 7.93M | 3.85M |
| Total Assets | 242.72M | 206.65M | 190.71M | 158.38M | 283.67M | 268.22M |
| Accounts Payable | 40.62M | 35.96M | 34.86M | 31.66M | 26.02M | 22.85M |
| Current Portion of Leases | 1.94M | 621.00K | 1.34M | 1.47M | 1.37M | 1.31M |
| Current Income Taxes Payable | 2.39M | 966.00K | 343.00K | 251.00K | 101.00K | 65.00K |
| Current Unearned Revenue | 94.45M | 85.47M | 72.92M | 67.27M | 55.78M | 44.58M |
| Other Current Liabilities | 6.10M | 787.00K | 19.14M | 1.08M | 467.00K | |
| Total Current Liabilities | 145.51M | 123.80M | 128.60M | 100.65M | 84.36M | 69.27M |
| Long-Term Debt | 87.95M | |||||
| Long-Term Leases | 3.88M | 1.94M | 154.00K | 639.00K | 1.69M | 2.69M |
| Long-Term Unearned Revenue | 1.84M | 2.57M | 794.00K | 617.00K | 528.00K | 116.00K |
| Pension & Post-Retirement Benefits | 2.75M | 3.59M | 3.37M | 3.29M | 2.42M | 2.56M |
| Long-Term Deferred Tax Liabilities | 1.10M | 663.00K | 29.00K | 1.42M | 1.28M | 692.00K |
| Other Long-Term Liabilities | 1.04M | 1.18M | 2.24M | |||
| Total Liabilities | 243.02M | 132.56M | 132.95M | 107.65M | 91.46M | 77.57M |
| Common Stock | 212.78M | 244.60M | 253.29M | 247.50M | 268.19M | 266.12M |
| Additional Paid-In Capital | 22.64M | 20.95M | 19.11M | 13.96M | 8.46M | 4.31M |
| Retained Earnings | -230.47M | -184.04M | -205.37M | -204.79M | -74.87M | -81.89M |
| Comprehensive Income & Other | -5.26M | -7.43M | -9.28M | -5.95M | -9.57M | 2.11M |
| Total Common Equity | -306.00K | 74.09M | 57.76M | 50.72M | 192.21M | 190.66M |
| Shareholders' Equity | -306.00K | 74.09M | 57.76M | 50.72M | 192.21M | 190.66M |
| Total Liabilities & Equity | 242.72M | 206.65M | 190.71M | 158.38M | 283.67M | 268.22M |
| Total Debt | 93.77M | 2.56M | 1.50M | 2.11M | 3.07M | 4.00M |
| Net Cash (Debt) | -48.05M | 71.48M | 91.05M | 69.84M | 213.23M | 211.32M |
| Net Cash Per Share | -1.75 | 2.43 | 2.94 | 2.07 | 6.26 | 6.43 |
| Filing Date Shares Outstanding | 24.90M | 28.76M | 30.28M | 30.34M | 32.92M | 32.86M |
| Total Common Shares Outstanding | 24.89M | 28.75M | 30.26M | 30.31M | 32.91M | 32.86M |
| Working Capital | -25.15M | 27.73M | 25.64M | 26.50M | 179.22M | 182.32M |
| Book Value Per Share | -0.01 | 2.58 | 1.91 | 1.67 | 5.84 | 5.80 |
| Tangible Book Value | -77.64M | 58.52M | 42.24M | 34.07M | 185.08M | 183.78M |
| Tangible Book Value Per Share | -3.12 | 2.04 | 1.40 | 1.12 | 5.62 | 5.59 |
| Land | 760.00K | 790.00K | 267.00K | 348.00K | 332.00K | 359.00K |
| Machinery | 4.93M | 4.92M | 4.35M | 3.60M | 2.98M | 2.10M |
| Construction In Progress | 268.00K | |||||
| Leasehold Improvements | 1.74M | 1.74M | 1.91M | 1.97M | 1.86M | 1.83M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 33.60M | 37.51M | 26.74M | 2.84M | 7.02M | -13.60M |
| Depreciation & Amortization | 4.41M | 2.73M | 2.92M | 2.77M | 2.33M | 2.02M |
| Other Amortization | 1.26M | 454.00K | 469.00K | 373.00K | ||
| Loss (Gain) From Sale of Assets | 35.00K | 24.00K | 1.00K | 196.00K | 11.00K | |
| Stock-Based Compensation | 7.22M | 6.00M | 7.33M | 6.05M | 4.71M | 2.26M |
| Other Operating Activities | -16.14M | -15.21M | -9.29M | -3.65M | -14.92M | 325.00K |
| Change in Accounts Receivable | -792.00K | -7.81M | -4.47M | -3.73M | -8.88M | -12.32M |
| Change in Accounts Payable | -1.83M | -1.35M | 4.52M | 5.53M | 4.43M | 7.57M |
| Change in Unearned Revenue | 9.38M | 12.04M | 7.14M | 10.94M | 12.70M | 16.88M |
| Change in Other Net Operating Assets | -1.42M | -6.21M | -6.10M | -5.35M | -5.12M | -6.38M |
| Operating Cash Flow | 35.72M | 28.17M | 29.25M | 15.96M | 2.29M | -3.25M |
| Capital Expenditures | -676.00K | -981.00K | -1.25M | -635.00K | -1.08M | -1.15M |
| Cash Acquisitions | -58.33M | -859.00K | -250.00K | -8.89M | -1.07M | |
| Other Investing Activities | -93.00K | |||||
| Investing Cash Flow | -59.01M | -1.84M | -1.50M | -9.52M | -2.25M | -1.15M |
| Long-Term Debt Repaid | -1.83M | -1.97M | -1.78M | -1.41M | -1.35M | |
| Lease Payments | -1.89M | -1.83M | -1.97M | -1.78M | -1.41M | -1.34M |
| Net Debt Issued (Repaid) | 87.22M | -1.83M | -1.97M | -1.78M | -1.41M | -1.35M |
| Issuance of Common Stock | 521.00K | 780.00K | 3.61M | 2.17M | 808.00K | 1.28M |
| Repurchase of Common Stock | -82.86M | -47.05M | -11.02M | -159.45M | ||
| Other Financing Activities | -1.11M | 1.45M | 2.55M | 8.06M | 2.27M | 499.00K |
| Financing Cash Flow | 3.78M | -46.65M | -6.84M | -151.00M | 1.67M | 422.00K |
| Foreign Exchange Rate Adjustments | 654.00K | 1.81M | -323.00K | 218.00K | -745.00K | -358.00K |
| Net Cash Flow | -18.86M | -18.50M | 20.59M | -144.34M | 970.00K | -4.33M |
| Free Cash Flow | 35.04M | 27.19M | 28.00M | 15.33M | 1.21M | -4.40M |
| Free Cash Flow Margin | 13.53% | 11.21% | 12.91% | 8.48% | 0.84% | -4.22% |
| Free Cash Flow Per Share | 1.27 | 0.93 | 0.90 | 0.46 | 0.04 | -0.13 |
| Levered Free Cash Flow | 43.20M | 6.79M | 42.75M | 17.08M | 5.40M | 2.04M |
| Unlevered Free Cash Flow | 44.32M | 6.88M | 42.87M | 17.26M | 5.64M | 2.35M |
| Free Cash Flow After Leases | 33.15M | 25.36M | 26.04M | 13.55M | -198.00K | -5.74M |
| Cash Income Tax Paid | 2.73M | 3.18M | 292.00K | 884.00K | 589.00K | 252.00K |
| Change in Working Capital | 5.34M | -3.34M | 1.09M | 7.39M | 3.14M | 5.74M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 747.16M | 638.99M | 1.35B | 1.47B | 1.09B | 2.20B |
| Enterprise Value | 796.07M | 574.76M | 1.28B | 1.30B | 875.13M | 1.99B |
| Last Close Price | 29.67 | 22.20 | 44.77 | 48.38 | 33.14 | 67.36 |
| PE Ratio | 24.10 | 17.03 | 50.65 | 517.28 | 155.00 | |
| PS Ratio | 2.86 | 2.63 | 6.24 | 8.12 | 7.61 | 21.09 |
| PB Ratio | 8.62 | 23.45 | 28.96 | 5.66 | 11.53 | |
| P/TBV Ratio | 10.92 | 32.06 | 43.12 | 5.88 | 11.96 | |
| P/FCF Ratio | 21.17 | 23.50 | 48.36 | 95.84 | 901.23 | |
| P/OCF Ratio | 20.76 | 22.68 | 46.30 | 92.02 | 475.43 | |
| EV/Sales Ratio | 3.05 | 2.37 | 5.90 | 7.17 | 6.12 | 19.07 |
| EV/EBITDA Ratio | 21.40 | 18.56 | 62.80 | 620.44 | ||
| EV/EBIT Ratio | 22.65 | 19.37 | 67.65 | 1,906.95 | ||
| EV/FCF Ratio | 22.56 | 21.14 | 45.68 | 84.59 | 725.05 | |
| Debt / Equity Ratio | -306.43 | 0.04 | 0.03 | 0.04 | 0.02 | 0.02 |
| Debt / EBITDA Ratio | 2.43 | 0.08 | 0.07 | 0.61 | ||
| Debt / FCF Ratio | 2.68 | 0.09 | 0.05 | 0.14 | 2.54 | |
| Net Debt / Equity Ratio | -157.04 | -0.96 | -1.58 | -1.38 | -1.11 | -1.11 |
| Net Debt / EBITDA Ratio | 1.30 | -2.31 | -4.47 | -33.42 | 38.08 | 17.71 |
| Net Debt / FCF Ratio | 1.37 | -2.63 | -3.25 | -4.56 | -176.66 | 48.04 |
| Asset Turnover | 1.25 | 1.22 | 1.24 | 0.82 | 0.52 | 0.40 |
| Quick Ratio | 0.69 | 1.05 | 1.07 | 1.14 | 3.02 | 3.51 |
| Current Ratio | 0.83 | 1.22 | 1.20 | 1.26 | 3.12 | 3.63 |
| Return on Equity (ROE) | 195.48% | 56.90% | 49.29% | 2.34% | 3.67% | -6.96% |
| Return on Assets (ROA) | 10.54% | 9.33% | 6.77% | 0.19% | -1.57% | -3.10% |
| Return on Invested Capital (ROIC) | 36.81% | |||||
| Return on Capital Employed (ROCE) | 35.90% | 35.80% | 30.40% | 1.20% | -3.50% | -6.50% |
| Earnings Yield | 4.15% | 5.87% | 1.97% | 0.19% | 0.65% | -0.62% |
| FCF Yield | 4.72% | 4.25% | 2.07% | 1.04% | 0.11% | -0.20% |
| Buyback Yield / Dilution | 10.52% | 5.22% | 7.99% | 1.07% | -3.57% | -13.59% |