Docebo Inc. (DCBO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 40-F for FY2025, filed Feb 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DCBO SEC filings page.
Docebo Inc. (DCBO) reported $242.7M in revenue for fiscal year 2025, up 11.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Docebo has shifted from losses to cash-generating growth, but faster receivables growth is absorbing some of the newest sales.
Across FY2024 and FY2025, net profit margin rose from12.3% to15.5% while operating cash flow stayed close to free cash flow; that combination points to low reinvestment needs, not merely improved accounting results. Receivables expanded21.2% versus revenue's11.9% in FY2025, suggesting the latest growth tied up more customer cash before becoming collections.
The business is lightly debt-funded: long-term debt was
Capital spending was only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Docebo Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Docebo Inc., and counted as zero in the overall score.
Docebo Inc.'s revenue grew 11.9% year-over-year to $242.7M, a solid pace of expansion. This earns a growth score of 77/100.
Docebo Inc. carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.
Docebo Inc.'s current ratio of 1.22 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.
Docebo Inc. converts 11.2% of revenue into free cash flow ($27.2M). This strong cash generation earns a score of 69/100.
Not available for Docebo Inc., and counted as zero in the overall score.
Docebo Inc. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Docebo Inc. generates $0.75 in operating cash flow ($28.2M OCF vs $37.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Docebo Inc. held $74.0M in cash against $1.9M in long-term debt as of Q4 2025, with $123.8M of liabilities due within a year.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
DCBO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q1'2510-Q | Q4'2440-F | Q3'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $57.3M+11.5% | N/A | $55.4M+19.2% | $51.4M+24.0% | $49.3M+26.5% | $46.5M+25.8% | $43.6M+24.8% |
| Interest Expense | N/A | $20K-51.2% | N/A | $36K-29.4% | $41K-30.5% | $43K-27.1% | $51K-19.0% | $53K-23.2% |
| Income Tax | N/A | $883K+323.0% | N/A | $382K-61.7% | -$396K-209.1% | $88K-51.4% | $997K+949.5% | $558K+55.4% |
| Net Income | N/A | $1.5M-71.5% | N/A | $5.0M+22.5% | $5.2M+315.2% | $3.2M+101.4% | $4.0M-60.6% | -$5.7M-369.8% |
| Diluted Shares (Avg) | N/A | 31M-0.4% | N/A | 31M-7.7% | 31M-9.1% | N/A | 34M-1.6% | 33M-2.6% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted).
DCBO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q1'2510-Q | Q4'2440-F | Q3'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $206.6M+8.4% | $197.7M+14.2% | $190.7M+20.4% | $174.1M-31.5% | $173.1M-41.4% | $158.4M-44.2% | $254.2M-6.1% | $289.0M+6.7% |
| Current Assets | $151.5M-1.8% | $161.8M+14.8% | $154.2M+21.3% | $140.8M-37.3% | $140.9M-48.8% | $127.2M-51.8% | $224.7M-10.9% | $258.9M+2.8% |
| Cash & Equivalents | $74.0M-20.0% | $91.9M+13.9% | $92.5M+28.6% | $82.0M-51.9% | $80.6M-62.6% | $72.0M-66.7% | $170.6M-19.8% | $203.9M-4.0% |
| Accounts Receivable | $55.2M+21.2% | $51.0M+13.2% | $45.6M+9.1% | $40.3M-1.5% | $45.0M-1.0% | $41.8M+11.3% | $40.9M+33.8% | $39.4M+37.0% |
| Goodwill | $14.5M+5.0% | $14.0M0.0% | $13.9M-2.8% | $14.3M+45.3% | $14.0M+131.8% | $14.3M+138.2% | $9.9M+78.6% | $10.0M+70.9% |
| Total Liabilities | $132.6M-0.3% | $145.2M+28.0% | $133.0M+23.5% | $129.1M+9.0% | $113.4M+13.5% | $107.7M+17.7% | $118.5M+44.2% | $144.4M+73.5% |
| Current Liabilities | $123.8M-3.7% | $140.6M+29.7% | $128.6M+27.8% | $124.8M+12.6% | $108.4M+16.7% | $100.7M+19.3% | $110.8M+47.8% | $137.6M+80.2% |
| Non-Current Liabilities | $8.8M+101.3% | $4.7M-7.4% | $4.3M-37.9% | $4.2M-44.6% | $5.0M-28.1% | $7.0M-1.3% | $7.6M+6.5% | $6.8M-1.1% |
| Long-Term Debt | $1.9M+1159.1% | $71K-85.8% | $154K-75.9% | $325K-63.1% | $499K-65.1% | $639K-62.2% | $881K-52.3% | $1.2M-46.8% |
| Total Equity | $74.1M+28.3% | $52.4M-12.1% | $57.8M+13.9% | $45.1M-66.8% | $59.6M-69.5% | $50.7M-73.6% | $135.7M-28.0% | $144.5M-22.9% |
| Retained Earnings | -$184.0M+10.4% | -$208.8M-4.6% | -$205.4M-0.3% | -$217.0M-68.8% | -$199.6M-171.1% | -$204.8M-173.5% | -$128.6M-68.2% | -$129.3M-49.0% |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments.
DCBO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q1'2510-Q | Q4'2440-F | Q3'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | $7.9M-5.7% | $9.7M+50.2% | N/A | $8.4M+486.3% | $6.5M+195.3% | $6.2M+537.4% | $5.5M+399.5% |
| Depreciation & Amortization | N/A | $798K-2.4% | $865K+56.1% | N/A | $818K+15.7% | $554K-8.0% | $1.1M+87.2% | $824K+40.4% |
| Capital Expenditures | N/A | $298K+46.8% | $287K+15.3% | N/A | $203K+89.7% | $249K+12.7% | $120K-65.8% | $159K-22.8% |
| Free Cash Flow | N/A | $7.6M-7.0% | $9.4M+51.6% | N/A | $8.2M+459.4% | $6.2M+215.8% | $6.1M+876.8% | $5.3M+497.6% |
| Investing Cash Flow | N/A | -$298K-46.8% | -$287K-15.3% | N/A | -$203K-89.7% | -$249K-12.7% | -$120K+65.8% | -$9.0M-2925.4% |
| Financing Cash Flow | N/A | -$8.8M-1788.9% | $2.0M+101.9% | N/A | $521K-69.3% | -$105.4M-10146.0% | -$39.0M-10968.5% | -$8.3M-5253.4% |
| Share Buybacks | N/A | N/A | $238K | N/A | N/A | N/A | -$29.2M | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid.
DCBO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q1'2510-Q | Q4'2440-F | Q3'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q | Q2'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | N/A | 2.6%-7.5pp | N/A | 8.9%+0.3pp | 10.1%+7.1pp | 6.5%+2.4pp | 8.7%-19.1pp | -13.0%-19.0pp |
| Return on Equity | N/A | 2.8%-5.9pp | N/A | 11.0%+8.0pp | 8.7%+8.0pp | 6.3%+5.5pp | 3.0%-2.5pp | -3.9%-5.1pp |
| Return on Assets | N/A | 0.8%-2.2pp | N/A | 2.9%+1.3pp | 3.0%+2.6pp | 2.0%+1.5pp | 1.6%-2.2pp | -2.0%-2.7pp |
| Current Ratio | 1.220.0x | 1.15-0.1x | 1.20-0.1x | 1.13-0.9x | 1.30-1.7x | 1.26-1.9x | 2.03-1.3x | 1.88-1.4x |
| Debt-to-Equity | 0.030.0x | 0.000.0x | 0.000.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x |
| Asset Turnover | N/A | 0.290.0x | N/A | 0.32+0.1x | 0.30+0.2x | 0.31+0.2x | 0.180.0x | 0.150.0x |
| FCF Margin | N/A | 13.4%-2.6pp | N/A | N/A | 16.0%+21.5pp | 12.6%+7.6pp | 13.1%+11.4pp | 12.2%+9.6pp |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Docebo Inc. DCBO | FY2025 | $242.7M | $37.5M | 15.5% | $605.2M | 44/100 |
| Sprout Social, Inc SPT | FY2025 | $457.5M | -$43.3M | -9.5% | $639.9M | 47/100 |
| Similarweb Ltd. SMWB | FY2025 | $282.6M | -$32.9M | -11.7% | $717.5M | 30/100 |
| Verb Technology Company, Inc. VERB | FY2025 | $12.8M | -$148.5M | N/A | $877.8M | 19/100 |
| PDF Solutions Inc PDFS | FY2025 | $219.0M | -$600K | -0.3% | $2.2B | 43/100 |
Where Docebo Inc. Ranks
Frequently Asked Questions
What is Docebo Inc.'s annual revenue?
Docebo Inc. (DCBO) reported $242.7M in total revenue for fiscal year 2025. This represents a 11.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Docebo Inc.'s revenue growing?
Docebo Inc. (DCBO) revenue grew by 11.9% year-over-year, from $216.9M to $242.7M in fiscal year 2025.
Is Docebo Inc. profitable?
Yes, Docebo Inc. (DCBO) reported a net income of $37.5M in fiscal year 2025, with a net profit margin of 15.5%.
How much debt does Docebo Inc. have?
As of fiscal year 2025, Docebo Inc. (DCBO) had $74.0M in cash and equivalents against $1.9M in long-term debt.
What is Docebo Inc.'s net profit margin?
Docebo Inc. (DCBO) had a net profit margin of 15.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Docebo Inc.'s return on equity (ROE)?
Docebo Inc. (DCBO) has a return on equity of 50.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Docebo Inc.'s free cash flow?
Docebo Inc. (DCBO) generated $27.2M in free cash flow during fiscal year 2025. This represents a -2.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Docebo Inc.'s operating cash flow?
Docebo Inc. (DCBO) generated $28.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Docebo Inc.'s total assets?
Docebo Inc. (DCBO) had $206.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Docebo Inc.'s capital expenditures?
Docebo Inc. (DCBO) invested $981K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Docebo Inc.'s current ratio?
Docebo Inc. (DCBO) had a current ratio of 1.22 as of fiscal year 2025, which is considered adequate.
What is Docebo Inc.'s debt-to-equity ratio?
Docebo Inc. (DCBO) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Docebo Inc.'s return on assets (ROA)?
Docebo Inc. (DCBO) had a return on assets of 18.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Docebo Inc.'s P/E ratio?
Docebo Inc. (DCBO) trades at 16.1x earnings, its market capitalization divided by net income of $37.5M net income, FY2025. The market capitalization is $605.2M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Docebo Inc.'s price-to-sales ratio?
Docebo Inc. (DCBO) trades at 2.5x sales, its market capitalization divided by revenue of $242.7M revenue, FY2025. The market capitalization is $605.2M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Docebo Inc.'s Piotroski F-Score?
Docebo Inc. (DCBO) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Docebo Inc.'s earnings high quality?
Docebo Inc. (DCBO) has an earnings quality ratio of 0.75x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Docebo Inc.?
Docebo Inc. (DCBO) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.