$DCBO.TO

Docebo Up 3.2% In US Premarket On Improved Q1 Adjusted Earnings, Revs; Co Lifted Its Own Revenue Expectations For FY26

Docebo (DCBO.TO, DCBO) reported improved adjusted earnings and revenues for the first quarter, and while the company flagged lower than forecast revenues for the second quarter, it lifted its own expectations for them over the full year.For the three months ended March 31, 2026, the company reported net loss of US$1.6 million, compared with net income of $1.5 million a year earlier. But it reported in line adjusted EPS diluted of US$0.34, higher than the $0.32 seen.Total revenue increased to US$65.6 million compared with $57.3 million, a year-ago, in line with a consensus estimate compiled by FactSet of US$65.7 million. Subscription revenue increased 12% to US$60.6 million in the quarter from the comparative prior-year period.For Q2, the company expects total revenue to be between US$66.7 million and $66.9 million, below a FactSet consensus forecast of $67.2 million, and adjusted EBITDA between $10.9 million to $11.1 million.Subscription revenue in Q2 is expected to be in-line with total revenue growth, Docebo said.For the fiscal year ending Dec. 31, 2026, subscription revenue is expected to be between US$253.5 million and $255.5 million, total revenue between $271.0 million and $273.0 million and adjusted EBITDA between $54.5 million and $56.5 million. For full year total revenues, the consensus forecast at Docebo is $272.3 million, while the company's previous guidance was for between $267.5 million to $269.5 million, as noted by The Wall Street Journal.The Toronto Stock Exchange also approved the company's notice of intention to renew its normal course issuer bid (NCIB) for its common shares, it added. Pursuant to the notice, Docebo is authorized to buy back up to a maximum of 1.3-million shares, or 5% of its 25.4-million issued and outstanding shares as of May 6, for cancellation over the next 12 months.Docebo may begin to purchase shares on or about May 20, 2026, and the bid will cancel on May 19, 2027, or such earlier time as Docebo completes its purchases pursuant to the bid or provides notice of termination. The company also renewed its automatic securities purchase plan with its designated broker to facilitate the purchase of shares under the NCIB at times when Docebo would ordinarily not be permitted to purchase shares due to regulatory restrictions or self-imposed blackout periods.U.S.-listed shares of the company were last seen up 2.8% at US$21.55 in pre-market trading.

Docebo Also Announcing TSX Has Approved Its Notice of Intention to Renew Its NCIB For Its Common Shares

Docebo Financial Guidance for Fiscal Year Includes Adjusted EBITDA between US$54.5M and $56.5M

Docebo Financial Guidance for Fiscal Year Also Includes Total Revenue between US$271.0M and $273.0M

Docebo Also Providing Financial Guidance for Fiscal Year Including Subscription Revenue between US$253.5M and $255.5M

Docebo Management Expects subscription revenue to be in line with total revenue growth

Docebo Guidance For Q2 Also Includes Adjusted EBITDA between US$10.9M to $11.1M

Docebo Guidance For Q2 Includes Total Revenue Between US$66.7M and $66.9M

Docebo Q1 Total revenue of US$65.6M; Adjusted EPS $0.35

CIBC Confirms Outperformer Rating and Target of US$28 on Docebo After Inspire 2026 Conference

CIBC Capital Markets maintained its outperformer rating and price target of US$28.00 on the shares of Docebo (DCBO.TO, DCBO) following the company's annual Inspire user conference in Miami.The bank noted the company preannounced "stronger-than-expected" preliminary first-quarter expectations, raised 2026 guidance, and announced several enhancements to the core platform and a number of AI-enabled product releases at the conference. The increase in outlook, the bank believes, is directly attributed to strength in the underlying enterprise business and includes two more-than $1 million enterprise expansion deals signed in Q1."Overall we came away from the conference increasingly confident in F2026 (increased) guidance, supported by solid underlying ARR growth and a refreshed go-to-market and product strategy that refocuses on enterprise and consistent platform improvement," said analyst Erin Kyle. "We continue to view shares as attractively valued, trading at 7.3x 2027E EV/EBITDA and 1.6x 2027E EV/Sales which is a discount to small-cap SaaS peers at ~8x and ~2x, respectively."CIBC expects double-digit growth in annual recurring revenue (ARR) to continue to be supported by growth in the underlying business, with a gradually declining impact from Dayforce churn offset by high double-digit ARR growth from the 365Talents business, as the year progresses. It revised its estimates to reflect stronger-than-expected Q1 results and raised full-year guidance for consolidated revenue, subscription revenue and adjusted EBITDA.For fiscal 2026, CIBC forecast subscription revenue growth of 11% and adjusted EBITDA margins of 20.3% for the full year. It also increased its adjusted EBITDA estimate for fiscal 2027 and now model margins of 22.2%."We expect margin expansion should be supported by continued operating leverage in G&A and S&M as the company leverages AI internally," added Kyle.Price: $24.24, Change: $-2.00, Percent Change: -7.62%

Stifel Canada Sees Potential Upside For Docebo

Docebo's (DCBO.TO, DCBO) annual user conference on Tuesday highlighted another year of record attendance, reports Stifel Canada.In a note, analyst Suthan Sukumar, who is maintaining a buy rating and US$28.00 price target on the shares, says his key takeaway from Docebo's investor briefing is that the company remains on the AI/ product offensive within the corporate learning industry, with higher win rates and larger deal sizes amidst an expanding total addressable market.A better-than-expected first-quarter preliminary release and an updated fiscal 2026 guidance also leads Sukumar to see potential for operational momentum to drive upside in the quarters ahead, implying an attractive risk/reward at 7x C27E EBITDA.Price: $25.85, Change: $+0.96, Percent Change: +3.86%

Docebo Up 1% In US Premarket On Q1 Preliminary Unaudited Results; Provides Updated Outlook for FY26

Docebo (DCBO.TO), which provides AI workforce readiness platform, was at last look up 1% in US premarket trade Tuesday after reporting its preliminary unaudited financial results for the first quarter ended March 31, 2026, and also revising its guidance for the fiscal year ending December 31, 2026.Among preliminary unaudited first quarter financial results, the company said that the total revenue is expected to be between US$65.4 million and US$65.6 million, an increase of 14.3% compared to $57.3 million for the first quarter of 2025. The consensus estimates compiled by FactSet for first quarter sales is $63.5 million.The company also said that adjusted EBITDA for the three months ended March 31, 2026, is expected to be between $10.8 million and $11 million, an increase of 22.5% compared to $8.9 million for the first quarter of 2025.It further stated that, Annual Recurring Revenue (ARR) is expected to be $248.9 million as of March 31, 2026, an increase of 10.6% compared to $225.1 million as of March 31, 2025. "ARR was negatively impacted in the quarter by $1.4 million due to the effects of foreign exchange," added the company.Docebo also revised its guidance for the fiscal year ending Dec. 31, 2026. It now expects fiscal year 2026 total revenue to be in the range of $271 million to $273 million, compared to prior guidance range of $267.5 million to $269.5 million. The consensus estimates compiled by FactSet for fiscal year sales is $268.1 million.It also revised its adjusted EBITDA guidance range for the fiscal year ending Dec. 31, 2026, to $54.5 million to $56.5 million, from prior guidance range of $52.5 million to $54.5 million.For the fiscal year ending December 31, 2026, the company now expects subscription revenue to be in the range of $253.5 million to $255.5 million, compared to prior guidance of $251.5 million to $253.5 million."Docebo delivered an exceptional start to 2026, exceeding our expectations across the board and reinforcing the strength of our market positioning. Our performance reflects both disciplined execution and growing demand for our AI workforce readiness platform as organizations prioritize workforce readiness in an increasingly complex operating environment," said Alessio Artuffo, President and Chief Executive Officer. "With Docebo Inspire beginning today in Miami, we look forward to showcasing innovations that further strengthen our position in the market."As previously announced, the company expects to report its full Q1-2026 financial results before the market opens on Friday, May 8, 2026.Shares n DCBO were up 3% in Canada yesterday.

Docebo Says FY Revised Guidance Total Revenue US$271M to $273M, Prior Guidance US$267.5M to $269.5M

Update: -- Docebo Says Q1 Total Revenue Expected to be Between US$65.4 and US$65.6 million

Docebo Says Total Revenue Expected to be Between US$65.4 and US$65.6 million

Docebo Announcing Preliminary Unaudited Results for Q1-2026 and Providing Updated Outlook for Fiscal Year 2026

CIBC Lowers Price Target on Software and Services Stocks

CIBC Capital Markets lowered its price target on eight software and services stocks ahead of Q1 results for the sector."We expect high single-digit growth in revenue and EBITDA within our coverage in Q1, despite AI-disruption concerns that have reduced the market cap of our Software coverage by an average of 24% year to date," analyst Stephanie Price said in a note to clients."With limited AI-related read-throughs from near-term earnings, investors have been reducing multiples and rethinking terminal values," Price said."For Q1, we are roughly in line with consensus expectations," the analyst said. "We expect a volatile earnings season and a focus on AI narrative for companies that meet or beat consensus expectations.""We expect that earnings misses could result in outsized market reactions," Price said. "That said, with an average 8% consensus EBITDA growth expectation for the quarter, we also see the possibility of upside from multi-year valuation lows."Price made the following changes:CGI Inc. (GIB-A.TO) to $112 from $132 (Neutral)Computer Modelling Group Ltd. (CMG.TO) to $5 from $5.50 (Neutral)Constellation Software Inc. (CSU.TO) to $4080 from $4610 (Outperformer)Descartes Systems Group Inc. (DSG.TO, DSGX) to US$116 from US$126 (Outperformer)Docebo Inc. (DCBO.TO, DCBO) to US$28 from US$34 (Outperformer)Kinaxis Inc. (KXS.TO) to $171 from $203 (Outperformer)Open Text Corp. (OTEX.TO, OTEX) to US$27 from US$32 (Neutral)Thomson Reuters Corp. (TRI.TO, TRI) to US$124 from US$140 (Outperformer)(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)