TORONTO--(BUSINESS WIRE)--August 07, 2026-- 

Docebo Inc. (NASDAQ: DCBO; TSX:DCBO) ("Docebo" or the "Company"), the Enterprise Platform for the AI-era workforce, unifying skills intelligence, learning, and knowledge in one closed loop, announced financial results for the three and six months ended June 30, 2026. All amounts are expressed in US dollars unless otherwise stated.

"Q2 was another milestone quarter for Docebo as disciplined execution and long-term investment continued to strengthen our position with enterprise customers around the world," said Alessio Artuffo, President and Chief Executive Officer. "As organizations transition from AI experimentation to enterprise-scale workforce transformation, they are increasingly choosing Docebo as their trusted partner. This sustained traction gives us the confidence to once again raise our full-year financial outlook."

Second Quarter 2026 Financial Highlights

   --  Subscription revenue of $63.8 million, an increase of 12% from the 
      comparative period in the prior year, including approximately 1 
      percentage point of positive impact resulting from the weakening of the 
      US dollar relative to foreign currencies. 
 
   --  Total revenue of $68.7 million, an increase of 13% from the comparative 
      period in the prior year, including approximately 1 percentage point of 
      positive impact resulting from the weakening of the US dollar relative to 
      foreign currencies. 
 
   --  Gross profit of $54.5 million, an increase of 11% from the comparative 
      period in the prior year, represented 79.4% of revenue compared to 80.9% 
      of revenue for the comparative period in the prior year. 
 
   --  Net income of $2.3 million, or $0.09 per share, compared to net income 
      of $3.1 million, or $0.10 per share for the comparative period in the 
      prior year. 
 
   --  Adjusted Net Income1 of $9.4 million, or Adjusted Earnings per share of 
      $0.37, compared to Adjusted Net Income of $8.9 million, or Adjusted 
      Earnings per share of $0.30, for the comparative period in the prior 
      year. 
 
   --  ARR was $255.1 million, an increase of 9.5% from the comparative period 
      in the prior year. ARR was negatively impacted in the quarter by $0.4 
      million due to the effects of foreign exchange. 
 
   --  Our largest OEM customer represented 2.5% of Annual Recurring Revenue 
      as at June 30, 2026, compared to 8.4% as at June 30, 2025. 
 
   --  Excluding our largest OEM customer, acquired ARR from acquisitions and 
      after adjusting for the above noted negative impact due to the effects of 
      foreign exchange, ARR increased by approximately 13.9% from the 
      comparative period in the prior year. 
 
   --  Adjusted EBITDA1 of $11.2 million, representing 16.4% of total revenue, 
      compared to $9.2 million, representing 15.2% of total revenue, for the 
      comparative period in the prior year. 
 
   --  Cash flows used in operating activities of $3.1 million, compared to 
      $6.2 million generated during the comparative period in the prior year. 
 
 
   --  Free Cash Flow1 of $3.1 million, representing 4.5% of total revenue for 
      the three months ended June 30, 2026, compared to $11.4 million, 
      representing 18.7% of total revenue, for the comparative period in the 
      prior year. 
 
   --  As at June 30, 2026, total cash and cash equivalents are expected to be 
      $45.7 million and total borrowings are $88.0 million 

Second Quarter 2026 Customer Updates

   --  Notable new customer wins include a global leader in network 
      infrastructure and telecommunications technology, serving a large 
      ecosystem of internal and external learners, which selected Docebo, 
      365Talents, and a trusted partner to reinvent its learning and skills 
      ecosystem. Through this platform transformation, the organization will 
      replace multiple legacy systems and unify its internal training, external 
      certifications, eCommerce, and skills-based career development. Building 
      on Docebo's robust integrations, scalable architecture, AI-powered 
      capabilities, and 365Talents' skills intelligence, the organization will 
      enable internal mobility, workforce planning, and revenue-generating 
      certification programs across its global partner ecosystem 
 
   --  The world's largest privately owned security services company selected 
      Docebo in a competitive evaluation to replace its existing learning 
      provider in order to unify its internal and external learning ecosystem 
      on a single platform. The company chose Docebo's enterprise-grade 
      platform to support onboarding, compliance, and role-based training 
      across its global workforce of 130,000 people, while launching a 
      multilingual, customer-facing e-commerce training academy that extends 
      learning to external audiences from the same scalable foundation. 
 
   --  A global leader in automotive safety, with more than 70,000 employees 
      worldwide, selected Docebo and 365Talents to address a critical 
      enterprise competency management challenge. The organization needed to 
      replace multiple siloed, homegrown systems and Excel-based competency 
      tracking across countries and functions with a unified skills 
      intelligence and learning platform. They chose Docebo for its scalable 
      multi-use-case learning platform capabilities and 365Talents' skills 
      architecture, talent marketplace, and workforce intelligence, enabling 
      upskilling/reskilling pathways, career pathing, gap identification, and 
      knowledge transfer at scale, all integrated within their existing 
      ecosystem. 
 
   --  A leading global consulting firm selected Docebo to modernize and 
      future--proof its learning ecosystem for all internal employees 
      worldwide. The firm selected Docebo for its ability to reliably handle 
      complex, core enterprise LMS requirements at scale, while also delivering 
      an innovative AI strategy and clear vision for the future of learning, 
      including capabilities such as AI Roleplay, MCP, and Companion. As an 
      organization at the forefront of using AI to drive productivity and 
      performance, they will be a strong strategic partner for Docebo to 
      co-innovate and accelerate long-term workforce transformation. 
 
   --  In a FedRAMP win, Docebo signed a private sector energy company, which 
      selected our platform in a competitive evaluation to modernize onboarding, 
      compliance, safety, and technical training. The deployment underscores 
      growing demand for Docebo's government-grade learning platform beyond 
      traditional public sector customers, as highly regulated commercial 
      organizations increasingly adopt FedRAMP-grade security and compliance 
      capabilities. 
 
   --  Docebo's Public Sector team continued to build momentum in Q2, 
      highlighted by an expansion with the Commonwealth of Kentucky's 
      enterprise learning modernization initiative and new wins with the 
      Indiana Public Retirement System and the State of Mississippi. The team 
      also expanded its presence in healthcare through a competitive 
      displacement opportunity in the Philadelphia behavioral health market, 
      reflecting continued demand across Federal, SLED, and regulated 
      industries. 
 
(1)   Please refer to "Non-IFRS Measures and Reconciliation of Non-IFRS 
      Measures" section of this press release. 
 

Financial Outlook

Docebo is providing financial guidance for the three months ending September 30, 2026 as follows:

   --  Subscription revenue is expected to be between $64.9 million and $65.1 
      million 
 
   --  Total revenue between $69.5 million and $69.7 million 
 
   --  Adjusted EBITDA between $15.9 million to $16.1 million 

Docebo is providing financial guidance for the fiscal year ending December 31, 2026 as follows:

   --  Subscription revenue between $255.5 million and $257.5 million 
 
   --  Total revenue between $274.5 million and $276.5 million 
 
   --  Adjusted EBITDA between $54.5 million and $56.5 million 

The information in this section is forward-looking. Please see the sections entitled "Non-IFRS Measures and Reconciliation of Non-IFRS Measures" and "Key Performance Indicators" in this press release for how we define "Adjusted EBITDA" and the section entitled "Forward-Looking Information." A reconciliation of forward-looking "Adjusted EBITDA" to the most directly comparable IFRS measure is not available without unreasonable effort, as certain items cannot be reasonably predicted because of their high variability, complexity and low visibility. Docebo believes that this type of guidance provides useful insight into the anticipated performance of its business.

Second Quarter 2026 Results

Selected Financial Measures

 
                        Three months ended June 30,                    Six months ended June 30, 
                  2026        2025      Change   Change         2026         2025      Change   Change 
                     $           $           $        %            $            $           $        % 
                ------      ------      ------   ------      -------      -------      ------   ------ 
Subscription 
 Revenue (in 
 thousands of 
 US dollars)    63,841      57,066       6,775     11.9%     124,484      111,249      13,235     11.9% 
Professional 
 Services (in 
 thousands of 
 US dollars)     4,809       3,666       1,143     31.2%       9,786        6,779       3,007     44.4% 
                ------      ------      ------   ------      -------      -------      ------   ------ 
Total Revenue 
 (in thousands 
 of US 
 dollars)       68,650      60,732       7,918     13.0%     134,270      118,028      16,242     13.8% 
                ------      ------      ------   ------      -------      -------      ------   ------ 
 
Gross Profit 
 (in thousands 
 of US