- Software firm Docebo reported its Q4 and fiscal year 2023 financial results above analysts’ estimates
- The company declared total Q4 revenue of US$49.3 million, a 27 per cent increase from Q4 2023 and above the expected US$48.4 million
- Total 2023 revenue also rose 27 per cent since last year, reaching US $180.8 million
- Docebo stock opened trading at C$68.68 per share
Software firm Docebo (TSX:DCBO) reported its Q4 and fiscal year 2023 financial results above analysts’ estimates.
The company declared total Q4 revenue of US$49.3 million, a 27 per cent increase from Q4 2023 and above the expected US$48.4 million.
Total 2023 revenue also rose 27 per cent since last year, reaching US$180.8 million.
Subscription revenue also grew to represent 94 per cent of the company’s total revenue with a 28 per cent jump in Q4 of US$46.5 million and a 29 per cent jump year-over-year at US$169.8 million in 2023.
Docebo now has a total of 3,759 customers using its service, an increase from 3,394 customers as of Dec. 31.
Notable new customer wins in the quarter include a significant deal with a “Big four” U.S.-based bank operating globally using Docebo to move their learning platform to the cloud for a variety of internal use cases.
Major League Baseball and the MLB Players Association chose Docebo as a learning platform to train players on a variety of topics.
“As we look ahead to 2024, we have an ambitious product roadmap and remain focused on driving innovation into the learner experience by leveraging AI throughout our platform,” Claudio Erba, the company’s founder and chief executive officer (pictured above) said in a news release.
Docebo Inc. is a learning platform provider with a foundation in artificial intelligence.
Docebo stock opened more than 13 per cent higher on Friday, trading at C$68.68 per share. The stock is up more than 15 per cent over the past month and is more than 42 per cent higher year-over-year.
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