Docebo (NASDAQ:DCBO), a pioneer in the AI-era workforce learning market, today released preliminary unaudited financial results for the first quarter ended March 31, 2026.
The results demonstrate a resilient growth trajectory for the enterprise platform, characterized by strong top-line expansion and enhanced operational efficiency.
The company expects to report total revenue between US$65.4 million and US$65.6 million, marking a 14.3% increase over the $57.3 million recorded in the first quarter of 2025.
This growth was accompanied by a notable rise in adjusted EBITDA, which is projected to fall between US$10.8 million and US$11.0 million, representing a 22.5% jump compared to the prior-year period.
As of March 31, 2026, Docebo’s Annual Recurring Revenue (ARR) reached US$248.9 million, a 10.6% increase from US$225.1 million in the same quarter last year.
The company noted that ARR was hindered by approximately $1.4 million due to unfavorable foreign exchange fluctuations during the quarter.
A significant shift in the company’s revenue concentration was also highlighted.
Docebo’s largest OEM customer is now expected to represent only 3.2% of total ARR, down sharply from 9.4% a year ago.
When excluding this specific customer, acquired ARR, and the negative impact of foreign exchange, the underlying ARR grew by approximately 13.7% year-over-year.