Docebo reported adjusted earnings per share of C$0.55 for the quarter ended September 30, 2026, beating the C$0.47 calendar estimate by 17%. Revenue and the company’s outlook point to continued growth. A special dividend funded with additional borrowing raises a separate question about how Docebo is allocating capital.
Docebo Inc. (TSX: DCBO) released its third-quarter 2026 results before markets opened on November 6. EPS beat the calendar estimate, extending a recent run in which the company topped estimates in three of its last four reported quarters. The earnings trend table and chart below compare results by quarter. Docebo reported revenue of US$70.3 million, up 14% from a year earlier, and net income of US$9.4 million. It expects fourth-quarter revenue of US$71.9 million to US$72.1 million. Visit the DCBO.TO stock page for more coverage.
Recent earnings trend
Docebo Inc
DCBO.TO
DCBO.TO
Docebo Inc
WealthAwesomeMarket cap
$1.03B
P/E
21.8x
52W high
$44.92
52W low
$19.87
1W change
-1.03%
Beta
0.81
Analyst Price Targets
Based on analyst covering DCBO · as of Nov 9, 2026
Wall Street analysts forecast DCBO stock price to rise 54.0% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$44.60
+54.0% Upside
Previously C$44.04 on Nov 6, 2026
Current Price
C$28.97
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on DCBO's historical volatility
30-Day Vol
38.3%
Annualized
90-Day Vol
46.7%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$49.17
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$43.65 | C$38.25 – C$49.81 |
| 60 trading days | C$46.33 | C$38.44 – C$55.84 |
| 90 trading days | C$49.17 | C$39.12 – C$61.80 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 5 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-06 | 0.5500 | 0.4700 | +17.0% |
| 2026-06-30 | 2026-08-07 | 0.3500 | 0.2900 | +20.7% |
| 2026-03-31 | 2026-05-08 | 0.3400 | 0.3500 | -2.9% |
| 2025-12-31 | 2026-02-27 | 0.4500 | 0.3600 | +25.0% |
| 2025-09-30 | 2025-11-07 | 0.3400 | 0.3300 | +3.0% |
| 2025-06-30 | 2025-08-08 | 0.2900 | 0.2200 | +31.8% |
Investor takeaway: Docebo paired an EPS beat with double-digit revenue growth and a higher near-term revenue outlook. The results suggest its learning software business is still expanding, but the figures provided don’t show how much of the EPS gain came from lasting improvements in operations. The special dividend of US$2.42 per share stands out. Docebo plans to fund the US$60 million payment with additional borrowing under its credit facility. Investors should consider that added debt alongside the cash return and the company’s ability to keep growing. The shares closed at C$28.97, down 3.72% that day but up 20.97% over the previous month.
C$0.55 EPS, 17.0% above the C$0.47 estimate
Docebo beat EPS estimates in three of its last four reported quarters. Revenue rose 14% year over year to US$70.3 million, and management expects fourth-quarter revenue of US$71.9 million to US$72.1 million.
Bull case
Revenue grew 14% from a year earlier, and Docebo’s fourth-quarter forecast points to continued demand. The company has also beaten EPS estimates in three of its last four reported quarters. Its recent launch of Knowledge and Agents adds enterprise knowledge and AI-agent features to its workforce-readiness platform. The stock closed above its 50-day and 200-day moving averages. Analyst targets and the Wealth Awesome model provide other points of comparison, but neither predicts future returns.
Bear case
Beating estimates doesn’t remove the risks around execution or valuation. Docebo’s fourth-quarter forecast points to continued growth, but future results will show whether the company can maintain that pace and whether earnings growth reflects strength in its underlying business. Borrowing to fund a large special dividend also makes balance-sheet discipline more important. The share price sits well below the average analyst target, and the statistical forecast covers a wide range. Both are reminders that expectations and model estimates can differ from actual returns.
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