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Canada's Docebo Q3 revenue beats estimates on subscription growth

By Reuters News


Overview

  • Canada enterprise learning platform's Q3 revenue grew 14% yr/yr, slightly beating analyst expectations

  • Adjusted EPS for Q3 rose to $0.56 from $0.34 yr/yr

  • Company highlighted new enterprise customer wins and expanded agreements as growth drivers


Outlook

  • Docebo sees Q4 subscription revenue between $66.5 mln and $66.7 mln

  • Company expects Q4 total revenue of $71.9 mln to $72.1 mln

  • Docebo forecasts Q4 adjusted EBITDA of $16.9 mln to $17.1 mln


Result Drivers

  • SUBSCRIPTION REVENUE GROWTH - Co said Q3 revenue growth was driven by higher subscription revenue, partly offset by negative currency impact

  • NEW AND EXPANDED CUSTOMER AGREEMENTS - Co cited new enterprise customer wins and expanded agreements as contributing to Q3 growth

  • PLATFORM DIFFERENTIATION - Co said its multi-product platform and AI capabilities helped attract and retain customers


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Beat*

$70.30 mln

$69.68 mln (9 Analysts)

Q3 Adjusted EPS

$0.56

Q3 Adjusted Net Income

$14 mln

Q3 Adjusted EBITDA

$16.70 mln

Q3 Gross Profit

$55.80 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the software peer group is "buy"

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Nov 4 - Canada's Kinaxis Q3 SaaS revenue rises, lifts 2026 outlook

  • Nov 5 - Canada's Lightspeed Q2 revenue slightly beats estimates on platform adoption

  • Nov 5 - Canada's Open Text meets Q1 revenue estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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