DCBO (Docebo Inc.) Stock Financials & Earnings | Market Cap Arena

DCBO (Docebo Inc.) Stock Financials & Earnings | Market Cap Arena

DCBODocebo Inc.

Mkt Cap$535M

Technology·Software - Application·🇨🇦 Canada·NASDAQ

Revenue (TTM)$243M

Net Income (TTM)$38M

EPS (TTM)$1.29

Free Cash Flow (TTM)$27M

Gross Margin79.6%

Op. Margin9.7%

Net Margin15.6%

FCF Margin11.2%

P/S Ratio (TTM)2.2x

P/E Ratio (TTM)14.1x

YoY Rev Growth+12.0%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$41M	$33M	-$376K
Q2 23	$44M	$35M	-$8M
Q3 23	$47M	$38M	$3M
Q4 23	$49M	$40M	$1M
Q1 24	$51M	$41M	$4M
Q2 24	$53M	$43M	$5M
Q3 24	$55M	$45M	$5M
Q4 24	$57M	$46M	$8M
Q1 25	$57M	$46M	$2M
Q2 25	$61M	$49M	$4M
Q3 25	$61M	$48M	$8M
Q4 25	$64M	$50M	$10M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.5x	35.1x
Q2 23	3.3x	71.9x
Q3 23	3.1x	439.3x
Q4 23	3.0x	188.4x
Q1 24	2.8x	79.1x
Q2 24	2.7x	31.2x
Q3 24	2.6x	29.6x
Q4 24	2.5x	20.0x
Q1 25	2.4x	23.2x
Q2 25	2.3x	25.0x
Q3 25	2.3x	23.8x
Q4 25	2.2x	14.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$2M	-$2M
Q2 23	$5M	$5M
Q3 23	$6M	$6M
Q4 23	$6M	$6M
Q1 24	$8M	$8M
Q2 24	$7M	$6M
Q3 24	$4M	$4M
Q4 24	$10M	$9M
Q1 25	$8M	$8M
Q2 25	$6M	$6M
Q3 25	$5M	$5M
Q4 25	$9M	$9M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$107K
Q2 23	$159K
Q3 23	$120K
Q4 23	$249K
Q1 24	$203K
Q2 24	$284K
Q3 24	$471K
Q4 24	$287K
Q1 25	$298K
Q2 25	$288K
Q3 25	$223K
Q4 25	$174K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+29.3%	+7.5%
Q2 23	+24.8%	+55.7%
Q3 23	+25.8%	+55.3%
Q4 23	+26.5%	+23.5%
Q1 24	+24.0%	+12.8%
Q2 24	+21.7%	-5.1%
Q3 24	+19.2%	+16.9%
Q4 24	+15.7%	+2.1%
Q1 25	+11.5%	+17.8%
Q2 25	+14.5%	+16.6%
Q3 25	+9.9%	+4.3%
Q4 25	+12.2%	+10.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$1M	3.1%
Q2 23	$1M	3.0%
Q3 23	$2M	4.0%
Q4 23	$2M	3.3%
Q1 24	$2M	3.8%
Q2 24	$2M	3.6%
Q3 24	$2M	3.3%
Q4 24	$2M	2.9%
Q1 25	$789K	1.4%
Q2 25	$2M	2.9%
Q3 25	$2M	3.2%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	$7M	$9M	$17M	—
Q2 23	$9M	$11M	$18M	—
Q3 23	$10M	$10M	$16M	—
Q4 23	$9M	$10M	$16M	—
Q1 24	$10M	$10M	$16M	—
Q2 24	$11M	$10M	$17M	—
Q3 24	$11M	$10M	$18M	—
Q4 24	$12M	$10M	$18M	—
Q1 25	$13M	$10M	$20M	—
Q2 25	$13M	$10M	$20M	—
Q3 25	$12M	—	—	$28M
Q4 25	$12M	—	—	$28M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	29.3%	5.8%	35.1
Q2 23	24.8%	-9.7%	15.1
Q3 23	25.8%	13.3%	39.1
Q4 23	26.5%	8.0%	34.5
Q1 24	24.0%	11.0%	35.0
Q2 24	21.7%	11.5%	33.2
Q3 24	19.2%	11.3%	30.5
Q4 24	15.7%	16.3%	32.0
Q1 25	11.5%	5.6%	17.0
Q2 25	14.5%	9.1%	23.6
Q3 25	9.9%	14.8%	24.7
Q4 25	12.2%	16.6%	28.8

Revenue Segments

Quarter

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$216M	$0	$216M
Q2 23	$204M	$83K	$204M
Q3 23	$171M	$81K	$171M
Q4 23	$72M	$83K	$72M
Q1 24	$81M	$81K	$81M
Q2 24	$82M	$81K	$82M
Q3 24	$82M	$66K	$82M
Q4 24	$93M	$43K	$93M
Q1 25	$92M	$24K	$92M
Q2 25	$65M	$6K	$65M
Q3 25	$66M	$0	$66M
Q4 25	$74M	$0	$74M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	34M	+0.3%
Q2 23	33M	-3.0%
Q3 23	34M	+1.1%
Q4 23	33M	-2.0%
Q1 24	31M	-5.5%
Q2 24	31M	+0.0%
Q3 24	31M	-0.4%
Q4 24	31M	+0.0%
Q1 25	31M	-0.1%
Q2 25	30M	-2.3%
Q3 25	29M	-2.5%
Q4 25	29M	-0.2%