Docebo (NasdaqGS:DCBO) Q4 2025 Earnings call February 27, 2026 08:00 AM ET Company ParticipantsAlessio Artuffo - CEOBrandon Farber - CFOMike McCarthy - VP of Investor RelationsConference Call ParticipantsErin Kyle - AnalystGavin Fairweather - AnalystGeorge Sutton - Senior Research AnalystJohn Shao - Equity AnalystJosh Baer - AnalystKen Wong - Managing Director and Senior AnalystKevin Krishnaratne - Director, Equity Research Analyst of Software and ServicesMatt VanVliet - AnalystRichard Tse - AnalystRobert Y ...

Docebo (NasdaqGS:DCBO) Q4 2025 Earnings call February 27, 2026 08:00 AM ET Company ParticipantsAlessio Artuffo - CEOBrandon Farber - CFOMike McCarthy - VP of Investor RelationsConference Call ParticipantsErin Kyle - AnalystGavin Fairweather - AnalystGeorge Sutton - Senior Research AnalystJohn Shao - Equity AnalystJosh Baer - AnalystKen Wong - Managing Director and Senior AnalystKevin Krishnaratne - Director, Equity Research Analyst of Software and ServicesKevin Krishnaratne - Director, Equity Research Analy ...

Docebo (NasdaqGS:DCBO) Q4 2025 Earnings call February 27, 2026 08:00 AM ET Speaker2Good morning, everyone, and welcome to Docebo's Q4 2025 earnings call. All participants are currently in listen-only mode. We will open up the lines for a question-and-answer session momentarily. Analysts can ask questions by pressing star followed by the number one on their telephone keypad. We ask that analysts please limit themselves to two questions and return to the queue for any follow-ups. I'd now like to turn the call ...

Financial Data and Key Metrics Changes - Docebo's Annual Recurring Revenue (ARR) increased by $2.5 million sequentially, reflecting a year-over-year growth of 14% when excluding the Dayforce business [5][7] - The company achieved a 20% EBITDA margin, marking a significant milestone in its financial performance [39][64] Business Line Data and Key Metrics Changes - The mid-market business exceeded performance expectations, benefiting from leadership changes and improved processes [7][8] - Core business retention improved, contributing positively to overall performance despite accelerated churn with Dayforce [8][32] Market Data and Key Metrics Changes - EMEA performance exceeded expectations with significant new customer acquisitions during the quarter [8] - The company is seeing increased interest in its offerings from state and local government sectors, driven by its FedRAMP certification [11][12] Company Strategy and Development Direction - Docebo is focusing on diversifying its revenue streams and enhancing its product offerings, particularly in AI capabilities [28][29] - The company is investing in partnerships with system integrators like Deloitte and Accenture to enhance its market penetration and support complex implementations [60][84] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pipeline for federal contracts despite the government shutdown, indicating that it has not significantly impacted their business [11][17] - The company anticipates continued growth in the mid-market and enterprise segments, with expectations for a strong Q4 [19][78] Other Important Information - The Dayforce wind-down is expected to reduce its contribution to total revenues to approximately 3.5-4.5% in 2026 and become immaterial thereafter [25] - The introduction of AI credits is seen as a potential driver for future revenue growth and customer retention [81] Q&A Session Summary Question: Can you unpack the components of ARR growth? - Management confirmed a $2.5 million sequential increase in ARR, with a 14% growth year-over-year excluding Dayforce [5][7] Question: How is the FedRAMP initiative progressing? - The company has secured two new federal customers earlier than expected, indicating strong momentum in this area [10][11] Question: What is the outlook for the enterprise segment? - The enterprise segment continues to grow, with notable wins and expectations for a strong Q4 [19][78] Question: Can you provide details on the Dayforce wind-down? - The Dayforce contribution to revenues is expected to decline significantly over the next few years, with ongoing growth in other areas [25][44] Question: How is AI being integrated into the product offerings? - AI capabilities are being infused throughout the product, with a focus on enhancing customer experience and retention [28][29] Question: What is the impact of the AWS contract roll-off on ARR? - The AWS contract is expected to result in a $4 million hit to ARR, effective December 31 [74] Question: How are partnerships with system integrators evolving? - The company is strengthening relationships with major system integrators to enhance market presence and support complex implementations [60][84]