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Docebo Inc (DCBO)


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Upturn Advisory Summary
10/17/2025: DCBO (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $39.77
1 Year Target Price $39.77
3 | Strong Buy |
4 | Buy |
3 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -28.26% | Avg. Invested days 36 | 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 754.99M USD | Price to earnings Ratio 38.09 | 1Y Target Price 39.77 |
Price to earnings Ratio 38.09 | 1Y Target Price 39.77 | ||
Volume (30-day avg) 10 | Beta 1.17 | 52 Weeks Range 25.50 - 53.86 | Updated Date 10/18/2025 |
52 Weeks Range 25.50 - 53.86 | Updated Date 10/18/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.69 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Revenue by Geography
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 9.29% | Operating Margin (TTM) 10.02% |
Management Effectiveness
Return on Assets (TTM) 6.51% | Return on Equity (TTM) 55.53% |
Valuation
Trailing PE 38.09 | Forward PE 19.42 | Enterprise Value 719941166 | Price to Sales(TTM) 3.28 |
Enterprise Value 719941166 | Price to Sales(TTM) 3.28 | ||
Enterprise Value to Revenue 3.12 | Enterprise Value to EBITDA 29.62 | Shares Outstanding 28723221 | Shares Floating 12334038 |
Shares Outstanding 28723221 | Shares Floating 12334038 | ||
Percent Insiders 45.49 | Percent Institutions 43.56 |
Upturn AI SWOT
Docebo Inc

Company Overview
History and Background
Docebo was founded in 2005 in Italy by Claudio Erba and launched its cloud-based learning platform in 2012. It has since expanded globally, establishing a presence in North America, Europe, and Asia-Pacific. Docebo has grown through product innovation and strategic acquisitions.
Core Business Areas
- Learning Management System (LMS): Docebo's core product is its AI-powered learning platform, which enables organizations to manage, deliver, and track online training programs. It serves various industries and use cases, including employee onboarding, compliance training, and sales enablement.
- Learning Experience Platform (LXP): Docebo offers a LXP solution that delivers personalized learning experiences, combining formal and informal learning resources. This encourages continuous learning and skill development.
- Content Marketplace: Docebo offers a content marketplace, providing access to a library of ready-made courses and learning resources, expanding learning options for customers.
Leadership and Structure
Docebo is led by CEO Claudio Erba. The company has a board of directors overseeing strategic direction. It operates with a global structure, including sales, marketing, product development, and customer success teams located in various regions.
Top Products and Market Share
Key Offerings
- Docebo Learn LMS: Docebo's flagship product, an AI-powered learning management system. Market share information is dynamic. Competitors include Cornerstone OnDemand (CSOD), SAP SuccessFactors (SAP), Workday (WDAY), and TalentLMS. Revenue data for individual products is not typically disaggregated.
- Docebo Shape: An AI-powered content creation and curation tool. Market share information is dynamic. Competitors include Articulate, Elucidat, and Gomo. Revenue data for individual products is not typically disaggregated.
- Docebo Connect: An integration platform that connects Docebo Learn with other enterprise systems. Market share information is dynamic. Competitors include Workato, Celigo, and Tray.io. Revenue data for individual products is not typically disaggregated.
Market Dynamics
Industry Overview
The e-learning market is experiencing significant growth, driven by increasing adoption of online learning solutions, the rise of remote work, and the need for continuous skill development. AI is playing a larger role.
Positioning
Docebo is positioned as a provider of AI-powered learning solutions for enterprises, focusing on delivering personalized and engaging learning experiences. Its competitive advantages include its AI capabilities, scalability, and comprehensive feature set.
Total Addressable Market (TAM)
The global e-learning market is estimated to be in the hundreds of billions of USD. Docebo is positioned to capture a significant portion of this market with its AI-powered and scalable platform.
Upturn SWOT Analysis
Strengths
- AI-powered learning platform
- Comprehensive feature set
- Scalability and flexibility
- Strong customer focus
- Global presence
Weaknesses
- Price point may be higher than some competitors
- Reliance on AI algorithms which are subject to bias.
- Smaller market share compared to larger competitors
- Integration complexity with legacy systems
Opportunities
- Expanding into new geographic markets
- Developing new AI-powered learning solutions
- Acquiring complementary technologies
- Partnerships with other technology providers
- Increased adoption of microlearning and personalized learning
Threats
- Intense competition in the e-learning market
- Rapid technological changes
- Economic downturns
- Data privacy and security concerns
- Emergence of disruptive learning technologies
Competitors and Market Share
Key Competitors
- CSOD
- SAP
- WDAY
- TAL
- ADSK
Competitive Landscape
Docebo's advantages include its AI-powered capabilities, user-friendly interface, and comprehensive feature set. Disadvantages may include price point and smaller market share compared to larger competitors.
Major Acquisitions
ForMetris
- Year: 2019
- Acquisition Price (USD millions):
- Strategic Rationale: Enhanced Docebo's analytics capabilities, providing deeper insights into learner performance and training effectiveness.
eLearning Codec
- Year: 2020
- Acquisition Price (USD millions):
- Strategic Rationale: Expanded Docebo's content creation capabilities and AI-powered personalization features.
Skillshape
- Year: 2021
- Acquisition Price (USD millions):
- Strategic Rationale: Skillshape is a Content as a Service (CaaS) platform, to help organizations deliver personalized and skill-based learning experiences.
Growth Trajectory and Initiatives
Historical Growth: Docebo has experienced strong revenue growth in recent years, driven by increasing demand for its learning platform and strategic acquisitions. Use financial data to identify trends.
Future Projections: Analyst estimates suggest continued revenue growth for Docebo, driven by its AI-powered solutions and expansion into new markets. These are projections so they are based on current trends
Recent Initiatives: Recent initiatives include product updates, strategic partnerships, and acquisitions aimed at expanding Docebo's capabilities and market reach.
Summary
Docebo is a growing company in the competitive e-learning market, benefiting from its AI-powered platform and strategic acquisitions. It demonstrates strengths in its product offerings and market positioning, but faces challenges from larger competitors and technological changes. To continue its success, Docebo must continue innovating, expanding its market reach, and addressing potential threats to its business model and competitive advantages.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Investor Relations Website
- Financial News Sources
- Analyst Reports
Disclaimers:
This analysis is based on publicly available information and analyst estimates. It is not financial advice and should not be used as the sole basis for investment decisions. Market conditions and company performance are 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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