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Docebo Inc.

DCBO Clue Score80
Ontario, Canada Fiscal year ends December CIK 0001829959
$25.47 +4.99% Close, 9 Oct 2026
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Price $25.47 −64.28% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 16 Apr 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue41.4Operating income−9.8Net income−11.9EPS, diluted−0.49Fiscal year 2020Revenue62.9 +51.8%Operating income−7.6Net income−8.0EPS, diluted−0.28Fiscal year 2021Revenue104.2 +65.7%Operating income−13.4Net income−13.6EPS, diluted−0.41Fiscal year 2022Revenue142.9 +37.1%Operating income4.2Net income7.0EPS, diluted0.21Fiscal year 2023Revenue180.8 +26.5%Operating income−3.7Net income2.8 −59.5%EPS, diluted0.08 −61.9%Fiscal year 2024Revenue216.9 +20.0%Operating income21.3Net income26.7 +841.4%EPS, diluted0.86 +975.0%Fiscal year 2025Revenue242.7 +11.9%Operating income23.2Net income37.5 +40.3%EPS, diluted1.28 +48.8%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 41.4 62.9 104.2 142.9 180.8 216.9 242.7
Growth +51.8% +65.7% +37.1% +26.5% +20.0% +11.9%
Operating income −9.8 −7.6 −13.4 4.2 −3.7 21.3 23.2
Net income −11.9 −8.0 −13.6 7.0 2.8 26.7 37.5
Growth −59.5% +841.4% +40.3%
EPS, diluted −0.49 −0.28 −0.41 0.21 0.08 0.86 1.28
Growth −61.9% +975.0% +48.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2019Gross margin79.8%Operating margin−23.7%Net margin−28.7%Free cash flow margin−11.9%Fiscal year 2020Gross margin81.7%Operating margin−12.1%Net margin−12.7%Free cash flow margin5.9%Fiscal year 2021Gross margin80.1%Operating margin−12.9%Net margin−13.0%Free cash flow margin−4.2%Fiscal year 2022Gross margin80.3%Operating margin2.9%Net margin4.9%Free cash flow margin0.8%Fiscal year 2023Gross margin80.9%Operating margin−2.1%Net margin1.6%Free cash flow margin8.5%Fiscal year 2024Gross margin81.0%Operating margin9.8%Net margin12.3%Free cash flow margin12.9%Fiscal year 2025Gross margin80.3%Operating margin9.6%Net margin15.5%Free cash flow margin11.2%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 79.8% 81.7% 80.1% 80.3% 80.9% 81.0% 80.3%
Operating margin −23.7% −12.1% −12.9% 2.9% −2.1% 9.8% 9.6%
Net margin −28.7% −12.7% −13.0% 4.9% 1.6% 12.3% 15.5%
Free cash flow margin −11.9% 5.9% −4.2% 0.8% 8.5% 12.9% 11.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow−4.6Capital expenditure−0.4Free cash flow−4.9Fiscal year 2020Operating cash flow4.8Capital expenditure−1.1Free cash flow3.7Fiscal year 2021Operating cash flow−3.3Capital expenditure−1.1Free cash flow−4.4 −218.6%Fiscal year 2022Operating cash flow2.3Capital expenditure−1.1Free cash flow1.2Fiscal year 2023Operating cash flow16.0Capital expenditure−0.6Free cash flow15.3 +1,170.0%Fiscal year 2024Operating cash flow29.2Capital expenditure−1.2Free cash flow28.0 +82.7%Fiscal year 2025Operating cash flow28.2Capital expenditure−1.0Free cash flow27.2 −2.9%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −4.6 4.8 −3.3 2.3 16.0 29.2 28.2
Capital expenditure −0.4 −1.1 −1.1 −1.1 −0.6 −1.2 −1.0
Free cash flow −4.9 3.7 −4.4 1.2 15.3 28.0 27.2
Growth −218.6% +1,170.0% +82.7% −2.9%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash46.3Total debt0.0Net cash (debt)46.3Shareholders’ equity31.4Debt to equity0.00Fiscal year 2020Cash219.7Total debt0.0Net cash (debt)219.7Shareholders’ equity200.3Debt to equity0.00Fiscal year 2021Cash215.3Shareholders’ equity190.7Fiscal year 2022Cash216.3Shareholders’ equity192.2Fiscal year 2023Cash72.0Shareholders’ equity50.7Fiscal year 2024Cash92.5Shareholders’ equity57.8Fiscal year 2025Cash74.0Shareholders’ equity74.1
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 46.3 219.7 215.3 216.3 72.0 92.5 74.0
Total debt 0.0 0.0 n/a n/a n/a n/a n/a
Net cash (debt) 46.3 219.7 n/a n/a n/a n/a n/a
Shareholders’ equity 31.4 200.3 190.7 192.2 50.7 57.8 74.1
Debt to equity 0.00 0.00 n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
79.8% 81.7% 80.1% 80.3% 80.9% 81.0% 80.3%
−23.7% −12.1% −12.9% 2.9% −2.1% 9.8% 9.6%
−27.3% −12.2% −12.9% 5.4% 2.7% 10.9% 10.1%
−28.7% −12.7% −13.0% 4.9% 1.6% 12.3% 15.5%
−11.9% 5.9% −4.2% 0.8% 8.5% 12.9% 11.2%
Spending
22.8% 21.3% 19.5% 17.3% 19.6% 20.2% 20.7%
31.7% 27.0% 27.3% 21.1% 18.7% 15.0% 14.3%
0.9% 1.7% 1.1% 0.8% 0.4% 0.6% 0.4%
n/a n/a n/a 9.8% 41.4% −12.7% −53.5%
Returns
−38.0% −4.0% −7.1% 3.7% 5.6% 46.3% 50.6%
−18.7% −3.2% −5.1% 2.5% 1.8% 14.0% 18.2%
Balance and payout
0.00 0.00 n/a n/a n/a n/a n/a
50.9% 21.2% 28.9% 32.2% 68.0% 69.7% 64.1%