Docebo, Inc. · TSX:DCBO
Docebo — Q3 2021 Earnings Presentation
22 slides from Docebo's earnings presentation, Nov 11, 2021
Slide 1: Investor Presentation November 2021
Investor Presentation November 2021 Note: All financials presented are in US$ unless otherwise noted. 1
Slide 2: Disclaimer
Disclaimer General This presentation is property of Docebo Inc. (the “Company”, “Docebo”, “us” or “we”). It cannot be circulated or forwarded without our consent. Any graphs, tables or other information demonstrating our historical performance or that of any other entity contained in this presentati
Slide 3: Docebo at-a-glance
Docebo at-a-glance Leading KPI’s compared to LMS sector averages 2,636 US$104M 720+ Customers1,2 ARR1 Employees 93% 65% 7 Recurring Revenues4 Recurring Revenue Offices: Toronto, Athens- CAGR3 GA, Milano, Munich, London, Paris, Dubai (1) As at September 30, 2021. Refer to the Appendix to this present
Slide 4: Docebo: I will teach
70 social % 20 % coaching 10 formal % According to the 702010 Institute today docebo (docēbō) v. I will teach 4
Slide 5: A learning management platform that improves enterprise learning
ENTERPRISE SOFTWARE STACK: ➔ Business Intelligence ➔ Collaboration ➔ LMS (Learning Management System) ➔ CRM A learning management platform that improves enterprise learning ➔ ERP ➔ Supply Chain Management ➔ Office Productivity The Enterprise Software stack is where companies are investing heavily 5
Slide 6: Leading Companies Choose Docebo
Leading Companies Choose Docebo North 2,636 America customers across a variety of 72% geographies and industries1 ROW 28% Revenue for the 9 months ended Sep 30, 2021 6 (1) As at September 30, 2021.
Slide 7: Highly Configurable, Personalized Learning at Scale
Highly Configurable, Personalized Learning at Scale AI Content Suggestion Mobile Dashboard AI-Powered Feature Sets: Auto-Tagging, Deep Search, Virtual Coach 7
Slide 8: Use Cases Extend Beyond Traditional Onboarding and Compliance
Use Cases Extend Beyond Traditional Onboarding and Compliance 50+% Of our customers use Docebo for external or hybrid internal plus external training use cases Content agnostic; Learning Centric 8
Slide 9: TÜV Rheinland Case Study
TÜV Rheinland Case Study How a German tech certification giant created over 3,000 courses and 3,037 431% a successful web shop for their global audience in just 4 months. Total courses Increase in learning objects 36% 4 46% Increase Month in courses Implementation offered Increase in active users1 1
Slide 10: Case Studies
Case Studies SALES TRAINING, EXTERNAL TRAINING Why We Win: 1,100+ Users trained1 in 3 200+ Assets submitted 35% Of active users3 use • Achieve High Personalization to support multiple use cases, via the Docebo Configuration Engine languages by users2 the Docebo Mobile App • Generate Revenue by train
Slide 11: Docebo Learning Suite
Docebo Learning Suite Tools to Span the Entire Enterprise Learning Lifecycle SHAPE CONTENT LEARN LMS LEARNING IMPACT LEARNING ANALYTICS AI creates learning High-quality, off-the- Course enrollment, online What were you Learning-based data content for online shelf mobile-ready delivery, and tracking
Slide 12: Growth Opportunities
Growth Opportunities Focused on key growth vectors that feed new logos and expand mandates Grow Enterprise Land & Customer Base Expand OEM & Artificial Build New Opportunistic Potential strategic Intelligence Products Acquisitions Geography alliances Expansion (France, Germany, Asia - Pacific) Consi
Slide 13: A long-term trend brought forward
A long-term trend brought forward COVID-19 Impact on L&D2: LMS 94% Market135 .0 of L&D professionals reported having to change their Market Expansion L&D strategy in response to the pandemic 30 .0 Opportunities ~$29.9B 25 .0 21% ➔Analytics Will learning strategy, investment and CAGR ➔Automation reso
Slide 14: Docebo is uniquely positioned in the fastest growing segment of enterprise learning
Docebo is uniquely positioned in the fastest growing segment of enterprise learning 2019, 2020, 2021 2018 & 2019 Core Leader for Learning Best Advance in Learning Systems in the Fosway 9-Grid™ Management Technology 14
Slide 15: Growing >2X the LMS Industry
Growing >2X the LMS Industry 70 ,000 +52% US$62.9M 60 ,000 50 ,000 +53% US$41.4M 65% US$104M 93% +58% 40 ,000 US$27.1M +74% 30 ,000 20 ,000 US$17.1M Recurring Annual Recurring Recurring US$9.9M Revenue Revenue2 Revenue3 CAGR1 10 ,000 - 2016 2017 2018 2019 2020 Non-recurring revenue Recurring subscri
Slide 16: Successfully executing our growth strategy
Successfully executing our growth strategy 2,636 ~80% >3x 108% Customers of ARR as at Q3 2021 Growth in average Net Dollar Retention represented by contract value since 20161 Rate in 20202 customers that chose multi-year contracts 45 ,000 $39.3K 3,0 00 40 ,000 $34.0K 2.6K 35 ,000 2,5 00 30 ,000 $27.
Slide 17: Capital Efficient Growth
Capital Efficient Growth 12 0 $104M 10 0 80 $74M 60 $47M ~US$14M 40 $30M Cash burn since 2016 to $18M grow ARR2 to US$104M 20 at the end of Q3 2021 $11M $4M - $1M $4M $4M $3M $5M (2 0) 2016 2017 2018 2019 2020 YTD Q3 2021 Free Cash Flow1 (USD) Total ARR (USD) (1) Cash flow from operating activities
Slide 18: Strong, Scalable Financial Metrics
Strong, Scalable Financial Metrics METRIC 2017 2018 2019 2020 Q3 2021 Margin Drivers ➔ Increasing deal sizes Revenue US$17.1m US$27.1m US$41.4m US$62.9m US$27.1m ➔ Executing land & expand Subscription Revenue strategy 85% 68% 56% 54% 68% ➔ Improving sales and Growth (YoY) marketing Recurring Subscri
Slide 19: Experienced Management and Board
Experienced Management and Board GLOBAL MANAGEMENT TEAM BOARD OF DIRECTORS Claudio Erba, CEO & Board Member Jason Chapnik, Chairman • Founder and CEO of Docebo since 2005 • Founder, Chair and CEO of Intercap; former Chairman of • Over 15 years of experience in learning and development Dealer.com; 30
Slide 20: Docebo: Bringing AI Innovation to Enterprise Learning
Docebo: Bringing AI Innovation to Enterprise Learning Large Global Customer Momentum Strong KPI’s Addressable and Leading Innovation Capital Efficient Market Business Model 20
Slide 21: Appendix: Key Performance Indicators
Appendix: Key Performance Indicators Annual Recurring Revenue: We define Annual Recurring Revenue as the annualized equivalent value of the subscription revenue of all existing contracts (including Original Equipment Manufacturer (“OEM”) contracts) as at the date being measured, excluding non- recur
Slide 22: Appendix: Key Performance Indicators
Appendix: Key Performance Indicators Free Cash Flow: Free Cash Flow is defined as cash used in operating activities less additions to property and equipment and non- current assets. The following table reconciles our cash flow used in operating activities to Free Cash Flow for the periods 2016 to 20