Docebo Reports Third Quarter 2025 Results

Core Insights - Docebo Inc. reported strong financial results for Q3 2025, exceeding expectations due to its AI-First platform strategy and growing partnerships in federal and SLED markets [2][5][8] Financial Highlights - Subscription revenue reached $58.0 million, a 10% increase year-over-year, accounting for 94% of total revenue [5][12] - Total revenue was $61.6 million, reflecting an 11% increase from the previous year [5][12] - Gross profit was $49.5 million, representing 80.3% of total revenue, compared to 81.1% in the prior year [5][12] - Net income increased to $6.1 million, or $0.21 per share, up from $5.0 million, or $0.16 per share, in the same period last year [5][12] - Adjusted Net Income was $9.9 million, or Adjusted Earnings per share of $0.34, compared to $8.3 million, or $0.27 per share, in the prior year [5][12] - Annual Recurring Revenue (ARR) was $235.6 million, a 10.1% increase year-over-year [5][12] - Adjusted EBITDA was $12.4 million, representing 20.1% of total revenue, compared to 15.7% in the prior year [5][12] Customer Updates - Notable new customers include a global provider in industrial and environmental services with over 200,000 employees, and the Latvian School of Public Administration, which serves over 60,000 employees [4][10] - Docebo also secured contracts with Amazon Health and the U.S. Department of Energy, highlighting its growing presence in government and education sectors [10] Financial Outlook - For Q4 2025, management expects subscription revenue growth to align with total revenue growth [8][11] - Revised guidance for the fiscal year ending December 31, 2025, anticipates total revenue growth of approximately 11.40% and subscription revenue growth of 11.75% [11]