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Docebo Valuation Multiples

Discover revenue and EBITDA valuation multiples for Docebo and similar public comparables like FLOWSPARKS, ReadyTech, and Janison.

Docebo Overview

About Docebo

Docebo Inc is a provider of cloud-based learning management systems. The solutions provided by the company allow learning administrators to deliver scalable and flexible personalized learning experiences, from formal training to social learning to multiple internal, external, and blended audiences. The group provides an easy-to-use, configurable, and affordable learning platform with the end-to-end capabilities and critical functionality needed to train both internal and external workforces, partners, and customers. The majority of the revenue is derived from customers based in North America.


Founded

2016

HQ

Canada
Employees

991

Website

docebo.com

Financials

LTM Revenue $319M

LTM EBITDA $52.2M

EV

$782M

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Docebo Financials

Docebo has a last 12-month revenue of $319M and a last 12-month EBITDA of $52.2M.

In the most recent fiscal year, Docebo achieved revenue of $152M and an EBITDA of $19.1M.

Docebo expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Docebo P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $126M $152M XXX XXX XXX
Gross Profit $80.3M $102M XXX XXX XXX
Gross Margin 63% 67% XXX XXX XXX
EBITDA $5.8M $19.1M XXX XXX XXX
EBITDA Margin 5% 13% XXX XXX XXX
Net Profit $4.9M $2.0M XXX XXX XXX
Net Margin 4% 1% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

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Docebo Stock Performance

As of April 15, 2025, Docebo's stock price is CAD 41 (or $29).

Docebo has current market cap of CAD 1.2B (or $870M), and EV of CAD 1.1B (or $782M).

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Docebo Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$782M $870M XXX XXX XXX XXX $1.07

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Docebo Valuation Multiples

As of April 15, 2025, Docebo has market cap of $870M and EV of $782M.

Docebo's trades at 3.5x LTM EV/Revenue multiple, and 21.4x LTM EBITDA.

Analysts estimate Docebo's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Docebo Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $782M XXX XXX XXX
EV/Revenue 5.2x XXX XXX XXX
EV/EBITDA 41.0x XXX XXX XXX
P/E 46.5x XXX XXX XXX
P/E/Growth 1.0x XXX XXX XXX
EV/FCF 39.9x XXX XXX XXX

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Docebo Valuation Multiples

Docebo's NTM/LTM revenue growth is 9%

Docebo's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Docebo's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Docebo's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Docebo Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 20% XXX XXX XXX XXX
EBITDA Margin 13% XXX XXX XXX XXX
EBITDA Growth 229% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 22% XXX XXX XXX XXX
Revenue per Employee $0.2M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue 32% XXX XXX XXX XXX
G&A Expenses to Revenue 18% XXX XXX XXX XXX
R&D Expenses to Revenue 20% XXX XXX XXX XXX
Opex to Revenue 72% XXX XXX XXX XXX

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Docebo Public Comps

See public comps and valuation multiples for Education Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Alef Education XXX XXX XXX XXX XXX XXX
51 Talk XXX XXX XXX XXX XXX XXX
Janison XXX XXX XXX XXX XXX XXX
ReadyTech XXX XXX XXX XXX XXX XXX
FLOWSPARKS XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Docebo M&A and Investment Activity

Docebo acquired  XXX companies to date.

Last acquisition by Docebo was  XXXXXXXX, XXXXX XXXXX XXXXXX . Docebo acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Docebo

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Docebo

When was Docebo founded? Docebo was founded in 2016.
Where is Docebo headquartered? Docebo is headquartered in Canada.
How many employees does Docebo have? As of today, Docebo has 991 employees.
Who is the CEO of Docebo? Docebo's CEO is Mr. Alessio Artuffo.
Is Docebo publicy listed? Yes, Docebo is a public company listed on TSE.
What is the stock symbol of Docebo? Docebo trades under DCBO ticker.
When did Docebo go public? Docebo went public in 2019.
Who are competitors of Docebo? Similar companies to Docebo include e.g. Alef Education, 51 Talk, Janison, ReadyTech.
What is the current market cap of Docebo? Docebo's current market cap is $870M
What is the current revenue of Docebo? Docebo's last 12-month revenue is $319M.
What is the current EBITDA of Docebo? Docebo's last 12-month EBITDA is $52.2M.
What is the current EV/Revenue multiple of Docebo? Current revenue multiple of Docebo is 3.5x.
What is the current EV/EBITDA multiple of Docebo? Current EBITDA multiple of Docebo is 21.4x.
What is the current revenue growth of Docebo? Docebo revenue growth between 2023 and 2024 was 20%.
Is Docebo profitable? Yes, Docebo is EBITDA-positive (as of the last 12 months).

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