DCBO Docebo Inc. — QuoTrend

Analyst Ratings

Date	Action	Analyst	Rating	Target
Mar-02-26	Reiterated	Canaccord Genuity	Buy	$54 → $36
Mar-02-26	Reiterated	Craig-Hallum	Buy	$58 → $38
Jan-30-26	Reiterated	Scotiabank	Sector Outperform	$55 → $32
Jan-29-26	Reiterated	Oppenheimer		$35 → $25
Jan-21-26	Reiterated	Cantor Fitzgerald	Overweight	$82 → $28
Nov-10-25	Reiterated	Morgan Stanley	Equal Weight	$41 → $28
Nov-05-25	Reiterated	Oppenheimer		$35
Oct-29-25	Reiterated	CIBC	Outperform	$36
Oct-03-25	Resumed	TD Securities	Buy	$37
May-12-25	Downgrade	Morgan Stanley	Overweight → Equal Weight

Financial Statements

DataTimeframe

Line Item (USD, M)		TTM —	FY 2025 12/31/2025	FY 2024 12/31/2024	FY 2023 12/31/2023	FY 2022 12/31/2022	FY 2021 12/31/2021	FY 2020 12/31/2020	FY 2019 12/31/2019	FY 2018 12/31/2018
Total Revenue		252	243	217	Upgrade your experience to unlock full historical data
Cost of Goods Sold Incl. D&A		51	48	41
Gross Profit		199	195	176
Selling, General and Administrative Excl. Other		122	117	109
Research and Development		52	50	44
Other Operating Expense		3	3	4
Operating Income		22	24	19
Interest Expense		1	0	0
Unusual Expense		—	—	—
Non-Operating Income (Expense)		1	0	-5
Net Income Before Taxes		20	24	24
Income Taxes		-14	-13	-3
Consolidated Net Income		34	38	27
Net Income From Continuing Operations		34	38	27
Net Income		34	38	27
EPS (Recurring)		1.21	1.33	0.88
EPS (Basic, Before Extraordinaries)		1.21	1.33	0.88
EPS (Diluted)		1.18	1.30	0.86
EBITDA		26	28	27
Other After Tax Adjustments		—	—	—
Stock Option Compensation Expense		—	—	—
Price To Earnings Ratio		14.62	17.08	—
Price To Sales Ratio		1.92	2.65	—
Gross Margin		78.97	80.25	81.11
Operating Margin		8.73	9.88	8.76
Net Margin		13.49	15.64	12.44
Shares Outstanding		28	29	30
Market Capitalization		483	644	—
Operating Lease Expense		—	—	—