Docebo Inc. (NASDAQ:DCBO) reported second-quarter 2026 results that exceeded profit forecasts but came in slightly below revenue expectations. Despite the mixed quarterly performance, the learning management platform provider raised its full-year guidance, helping shares edge modestly higher in premarket trading.
Earnings Outperform Despite Revenue Miss
Docebo posted adjusted earnings of $0.35 per share, beating analysts’ consensus estimate of $0.30.
Subscription revenue totalled $63.8 million, an increase of 12% from $57.1 million in the same quarter last year. However, the figure fell short of Wall Street expectations of $66.88 million.
Total revenue rose 13% year over year to $68.7 million, compared with $60.7 million in the second quarter of 2025.
President and Chief Executive Officer Alessio Artuffo said, “Q2 was another milestone quarter for Docebo as disciplined execution and long-term investment continued to strengthen our position with enterprise customers around the world.”
Profitability Continues to Improve
Adjusted EBITDA increased to $11.2 million, representing 16.4% of total revenue, compared with $9.2 million, or 15.2% of revenue, a year earlier.
Net income was $2.3 million, or $0.09 per share, down slightly from $3.1 million, or $0.10 per share, in the prior-year quarter.
Company Raises 2026 Guidance
For the third quarter, Docebo expects subscription revenue of between $64.9 million and $65.1 million, with total revenue forecast at $69.5 million to $69.7 million. The midpoint is broadly in line with analysts’ expectations.
The company also expects adjusted EBITDA of between $15.9 million and $16.1 million during the quarter.
Looking further ahead, Docebo increased its full-year 2026 outlook. Management now expects subscription revenue of $255.5 million to $257.5 million and total revenue of $274.5 million to $276.5 million.
The midpoint of the revised total revenue forecast is slightly above Wall Street’s consensus estimate of $275.2 million.
Full-year adjusted EBITDA is projected to range between $54.5 million and $56.5 million.
Annual Recurring Revenue Continues to Grow
Annual recurring revenue reached $255.1 million as of 30 June 2026, representing growth of 9.5% compared with $233.0 million a year earlier.
While investors weighed the softer-than-expected subscription revenue, the stronger earnings performance and improved full-year outlook supported a modest gain in Docebo shares ahead of the opening bell.
Docebo stock price
