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Docebo Inc (DCBO)



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Upturn Advisory Summary
04/01/2025: DCBO (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -35.98% | Avg. Invested days 32 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 901.15M USD | Price to earnings Ratio 34.4 | 1Y Target Price 47.88 |
Price to earnings Ratio 34.4 | 1Y Target Price 47.88 | ||
Volume (30-day avg) 108059 | Beta 1.42 | 52 Weeks Range 27.61 - 53.86 | Updated Date 04/2/2025 |
52 Weeks Range 27.61 - 53.86 | Updated Date 04/2/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.86 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Revenue by Geography
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 12.33% | Operating Margin (TTM) 10.49% |
Management Effectiveness
Return on Assets (TTM) 6.77% | Return on Equity (TTM) 49.29% |
Valuation
Trailing PE 34.4 | Forward PE 24.39 | Enterprise Value 784629735 | Price to Sales(TTM) 4.13 |
Enterprise Value 784629735 | Price to Sales(TTM) 4.13 | ||
Enterprise Value to Revenue 3.62 | Enterprise Value to EBITDA 28.76 | Shares Outstanding 30279000 | Shares Floating 13898341 |
Shares Outstanding 30279000 | Shares Floating 13898341 | ||
Percent Insiders 43.1 | Percent Institutions 50.41 |
Analyst Ratings
Rating 4.33 | Target Price 59.3 | Buy 6 | Strong Buy 5 |
Buy 6 | Strong Buy 5 | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Docebo Inc

Company Overview
History and Background
Docebo Inc. was founded in 2005 in Italy and has since evolved into a leading cloud-based learning platform provider. Initially focused on open-source e-learning, Docebo transitioned to a SaaS model and expanded globally through strategic acquisitions and partnerships.
Core Business Areas
- Learning Management System (LMS): Docebo's core product, offering a comprehensive suite of tools for creating, delivering, and managing online training programs. This includes content management, learner portals, reporting, and analytics.
- Learning Experience Platform (LXP): Docebo provides LXP capabilities, focusing on personalized learning paths, content curation, and social learning to enhance learner engagement and knowledge retention.
- Enterprise Learning: Offering learning solutions tailored for large enterprises, supporting compliance training, sales enablement, and leadership development.
- Extended Enterprise Learning: Designed to train external audiences such as partners, customers, and vendors, ensuring consistent knowledge and skills across the ecosystem.
Leadership and Structure
Claudio Erba is the CEO and Founder. The company has a global management team across sales, marketing, product development, and customer success. They operate with a typical SaaS organizational structure, emphasizing customer-centricity and innovation.
Top Products and Market Share
Key Offerings
- Docebo Learn LMS: Flagship cloud-based learning management system. While specific market share data is difficult to pinpoint, Docebo is recognized as a leader in the corporate learning space, with a significant number of users. Competitors include Cornerstone OnDemand (CSOD), SAP Litmos, and TalentLMS. The revenue from LMS is the primary source of revenue of Docebo Inc.
- Docebo Learning Impact: Analytics tool that measures the impact of learning programs on business outcomes. Limited standalone market share data available. Competitors include Watershed and Valamis.
- Docebo Connect: Integration platform that connects Docebo with other business systems. Limited standalone market share data available. Competitors include Workato and Tray.io
Market Dynamics
Industry Overview
The learning management system (LMS) market is experiencing substantial growth, driven by the increasing need for corporate training, compliance, and employee development, particularly in a remote or hybrid work environment. The rise of personalized learning and AI is also shaping the industry.
Positioning
Docebo positions itself as a comprehensive learning platform that caters to organizations of all sizes, focusing on user experience, scalability, and AI-powered features. Their competitive advantages include a robust feature set, strong customer support, and continuous innovation.
Total Addressable Market (TAM)
The global LMS market is expected to reach hundreds of billions of USD in the next few years. Docebo is well-positioned to capture a significant share of this TAM due to its product capabilities and global reach.
Upturn SWOT Analysis
Strengths
- Comprehensive feature set
- Scalable platform
- Strong customer support
- AI-powered capabilities
- Global presence
Weaknesses
- Pricing can be perceived as high compared to some competitors
- Integration complexity with legacy systems
- Reliance on subscription revenue model
- Smaller market share compared to industry giants (e.g., Cornerstone)
Opportunities
- Expanding into new geographic markets
- Developing more AI-driven personalization features
- Acquiring complementary technologies
- Capitalizing on the growing demand for online learning
- Partnering with other software vendors
Threats
- Increased competition from established players and new entrants
- Economic downturn affecting IT spending
- Rapid technological advancements requiring continuous innovation
- Data security and privacy concerns
- Changing customer preferences
Competitors and Market Share
Key Competitors
- CSOD
- SUMO
- ADSK
- LRN
- TAL
Competitive Landscape
Docebo differentiates itself through its AI-powered learning platform, user-friendly interface, and scalability. However, it faces competition from larger, more established players with broader product portfolios.
Major Acquisitions
ForMetris
- Year: 2019
- Acquisition Price (USD millions): 0
- Strategic Rationale: Enhance data analytics capabilities.
Plearn
- Year: 2021
- Acquisition Price (USD millions): 4
- Strategic Rationale: Adds AI-powered learning experience to the Docebo platform.
skillrank
- Year: 2022
- Acquisition Price (USD millions): 25
- Strategic Rationale: Expand skill development solutions.
Growth Trajectory and Initiatives
Historical Growth: Docebo has experienced substantial revenue growth driven by increasing demand for its cloud-based learning platform and strategic acquisitions.
Future Projections: Analyst estimates project continued growth for Docebo, driven by its strong market position and increasing adoption of online learning.
Recent Initiatives: Recent initiatives include product enhancements focused on AI, expanding its partner network, and strategic acquisitions.
Summary
Docebo is a growing player in the LMS market with a strong platform and AI capabilities. While competition is intense, their innovation and scalability position them well for future growth. Keeping an eye on market trends and maintaining competitive pricing will be critical for sustained success. The company should focus on enhancing its sales & marketing reach to increase market share.
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Sources and Disclaimers
Data Sources:
- Company Website
- Market Research Reports
- Financial News Sources
- Analyst Reports
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. The analysis is based on publicly available information and is subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Docebo Inc
Exchange NASDAQ | Headquaters Toronto, ON, Canada | ||
IPO Launch date 2020-12-03 | CEO, President & Director Mr. Alessio Artuffo | ||
Sector Technology | Industry Software - Application | Full time employees 991 | Website https://www.docebo.com |
Full time employees 991 | Website https://www.docebo.com |
Docebo Inc. develops and provides a learning management platform for training in North America and internationally. Its solutions allow customers to take control of training strategies and retain institutional knowledge, while providing efficient course delivery, advanced reporting tools, and analytics. The company's cloud platform consists of a learning suite, which includes Docebo Learn platform, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Content that allows access to off-the-shelf learning content and provide predeveloped learning content by partnering with a content specialist; Insights module which allows organizations to understand the results of their learning programs with data visualizations; Learning Evaluation module to incorporate the learner's perspective into analyses by collection of feedback; and Advanced Analytics to integrate learning data into any data ecosystem and BI tool. It also offers Communities module that enables interactive learner communities; eCommerce module that monetize from digital training contents, and manage and sells training offerings; Docebo Integrations; Docebo Headless that allows businesses to build learning experiences outside of the Docebo learning environment; and AI Authoring that allows users to generate content either from scratch or through an interactive chatbot experience. In addition, the company provides Docebo for Salesforce that leverages Salesforce's API and technology architecture to produce a learning experience; Docebo Embed (OEM) to embed and re-sell the Docebo learning platform; Docebo Mobile App Publisher; Docebo Extended Enterprise used to train multiple external audiences with a single LMS solution; and Docebo for Microsoft Teams that brings learning directly into Microsoft Teams. The company was founded in 2005 and is headquartered in Toronto, Canada.
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