Summary Docebo Inc., a leading provider of AI-driven learning platforms, announced its Q1 2025 financial results, surpassing guidance on both revenue and profitability. Founded by Alessio Artuffo, the company's CEO, Docebo is committed to continuous innovation and enhancing its AI capabilities to drive efficiency and deliver long-term value to shareholders. Financial Highlights Total Revenue: $57.3 million, a 11% increase from Q1 2024. Subscription Revenue: $54.2 million, up 13% year-over-year, constituting 95% of total revenue. Gross Profit: $45.9 million, a 11% increase from $41.477 million in 2024, representing 80.1% of total revenue. Net Income: $1.5 million, or $0.05 per share, a significant decrease from $5.2 million, or $0.17 per share, in the previous year. Adjusted Net Income: $8.5 million, or $0.28 per share, up from $7.3 million, or $0.24 per share, in 2024. ARR (Annual Recurring Revenue): $225.1 million, a 11.9% increase from $201.2 million in 2024. Adjusted EBITDA: $8.921 million, or 15.6% of total revenue, compared to $7.467 million, or 14.5%, in 2024. Cash Flow: Free Cash Flow of $9.0 million, representing 15.7% of total revenue, down slightly from $9.2 million, or 17.9%, in 2024. Customer Updates Docebo secured notable wins in Q1 2025: Leading Software Platform Provider: Chose Docebo to integrate learning into their products, focusing on customer onboarding, product training, and reducing support tickets. NYU Langone Health: Selected Docebo to implement a comprehensive talent advancement ecosystem, enhancing both employee and customer experiences. Luxury Hotel and Resort Company: Adopted Docebo for employee training, leveraging its mobile capabilities to ensure training aligns with each property’s unique needs. Stanley Black & Decker: Continued investment in the CX use case, using Docebo’s analytics, automation, and integration features to improve sales efficiency and strengthen customer relationships. Quick-Service Restaurant Company: Expanded its deployment of Docebo, using advanced analytics to improve restaurant performance and staff training. However, Amazon Web Services (AWS) decided not to renew its contract for the Skills Builder customer academy, effective December 31, 2025. This represents less than 2% of Docebo’s ARR and does not significantly impact the company's broader relationship with AWS, which will continue to use Docebo for various employee experience initiatives. Financial Outlook For Q2 2025, management expects subscription revenue to grow about 1.5 percentage points higher than overall company revenue, while professional services revenue is anticipated to decline sequentially from Q1. For the fiscal year ending December 31, 2025, guidance includes: - Total Revenue Growth: Higher than the previous forecast. - Adjusted EBITDA: An improvement over the prior year, reflecting a focus on profitability initiatives. Leadership Changes Chief Marketing Officer: Kyle Lacy, a seasoned marketing executive, joined on April 1, 2025. Chief Financial Officer: Brandon Farber was promoted from interim CFO on April 8, 2025. Chief Revenue Officer: Greg Swift will leave the company on July 31, 2025. Chief Product Officer: Fabio Pirovano will step down in Q4 2025, succeeded by Riccardo LaRosa, an experienced CTO in international SaaS products. New Credit Facility Docebo entered a $50 million revolving credit facility with National Bank of Canada on May 8, 2025, with an option to expand it to $100 million. This three-year facility bears interest at variable rates and is aimed at supporting the company's financial flexibility and growth initiatives. Renewal of NCIB The Toronto Stock Exchange approved Docebo’s notice to renew its Normal Course Issuer Bid (NCIB). Under the renewed bid, the company can repurchase up to 1,481,659 shares, or 5% of its outstanding shares, over the next 12 months. Any repurchased shares will be canceled. This strategy aims to create value for shareholders and complement the company’s long-term growth objectives. About Docebo Docebo is a cutting-edge learning platform that integrates AI to deliver personalized and scalable learning solutions. The company serves enterprises globally, enabling them to manage content, deliver training, and measure the business impact of their learning programs. Docebo's mission is to empower organizations to drive growth and improve operational efficiency through robust and innovative learning technologies. Industry Insights and Company Profile Docebo's Q1 2025 results reflect the company's steady growth and ongoing commitment to AI-driven innovation. Industry insiders commend the robust customer base and the strategic focus on AI integrations, which are expected to maintain Docebo's competitive edge in the learning management system (LMS) market. The company's leadership changes, particularly the addition of seasoned executives like Kyle Lacy and Riccardo LaRosa, are seen as positive steps to bolster its marketing and technological capabilities. With a market cap of over $1 billion and a strong presence in North America and Europe, Docebo is positioned to capture growing demand for integrated and personalized learning solutions. The new credit facility and the renewal of the NCIB demonstrate the company’s commitment to financial stability and shareholder value creation. Docebo's forward-looking approach and emphasis on strategic partnerships like the one with NYU Langone Health are crucial for sustaining its growth trajectory in the dynamic tech landscape.