Slide 1: Investor Presentation | February 2024
Investor Presentation | February 2024 Note: All financials presented are in US$ unless otherwise noted.
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: A Timeline and History of Docebo
A Timeline and History of Docebo 2005 2014 2019 2021 Generative AI Partnership Docebo office Docebo HQ in Docebo begins with Google Cloud in the US. Canada, trading in the US Acquired PeerBoard Athens (GA) Toronto on Nasdaq and Edugo Docebo was 1st Large Enterprise Docebo launches its Launch of the fo
Slide 4: Docebo At-a-glance
Docebo At-a-glance Leading KPIs compared to LMS sector averages 3,759 US$194M 900+ Customers 1,2 ARR 1 Employees 94% 8 42% Recurring Revenues 4 Offices: Toronto, Atlanta-GA, Melbourne, Recurring Revenue CAGR 3 Milano, Munich, London, Paris, Dubai 1. As at December 31, 2023. ARR is a non-IFRS measure.
Slide 5: Global partners, customers, integrations and platform usage
+20 50K Global Partners API Calls per Minute 76% 24% North Rest of America World 3,759 400+ Customers1 across the Integrations world 131M 1.3 PB Value of E-commerce Stored Content Transactions 1. As at December 31, 2023.
Slide 6: Leaders Learn With Docebo
Leaders Learn With Docebo @ lululemon RE/MAX BRIDGESTONE TNs TT UT © i.) THOMSON REUTERS otal’. CapitalOne docebo: zoom NETFLIX Bupa General Electric
Slide 7: Enterprise software stack and LMS
ENTERPRISE SOFTWARE STACK: Business Intelligence Collaboration ➔ LMS (Learning Management System) A learning management CRM platform that improves ERP enterprise learning. Supply Chain Management Office Productivity The Enterprise Software stack is where companies ➔ are investing heavily.
Slide 8: Today
70% 20% 10% SOCIAL COACHING FORMAL Today docebo (docēbō) v. I will teach
Slide 9: Docebo Provides All of a Customer's Learning Needs Under a Single Platform
Docebo Provides All of a Customer’s Learning Needs Under a Single Platform Improves operational productivity Reduces complexity TABLE STAKES Helps to reduce tech stack by using one platform Improves ROI and leverages cost per users EXTERNAL TRAINING REVENUE ENABLEMENT TALENT DEVELOPMENT COMPLIANCE C
Slide 10: Highly Configurable, Personalized Learning at Scale
Highly Configurable, Personalized Learning at Scale Mobile AI Content Suggestion AI-POWERED FEATURE SETS: Auto-Tagging Deep Search Virtual Coach Dashboard
Slide 11: Case Study
Case Study We wanted to fully digitise our training offering across our 20,000+ customers base globally. We also wanted to increase our revenue streams and use reporting to better understand our customers. 3,037 431% Total courses Increase in learning objects 46% Increase in 11 36% How a German tech
Slide 12: Case Study
Case Study Why We Win: Achieve High Personalization to support multiple Sales Training, Customer & Partner Training use cases, via the Docebo Configuration Engine 4,300+ $1.5M 5x Generate Revenue by training customers and Customers enrolled Training costs More savings for the most partners, via Doceb
Slide 13: The Learning Lifecycle
The Learning Lifecycle SHAPE CONTENT LEARN IMPACT LEARN DATA Content Creation Content marketplace Learning Performance Learning Intelligence Generate content Curate world-class Measure learning Prove the ROI of quickly with AI learning content effectiveness learning AI-powered learning for all Busine
Slide 14: Delivering a Powerful All-Purpose Enterprise Learning Solution for Multi-Use Case Environments
Delivering a Powerful All-Purpose Enterprise Learning Solution for Multi-Use Case Environments Docebo has proven its ability to deliver high-level LMS functionality and high configurability with strong audience management for concurrent employee, customer, and partner program support and supports the
Slide 15: Pillars of Growth
Pillars of Growth Focused on key growth vectors that feed new logos and expand mandates External Use Case Expansion into the Expansion into the Land & Expand OEM & Systems Enterprise Government Segment Integrators With 65% of ARR tied to Docebo’s horizontal Docebo initiated FedRAMP A growing base of
Slide 16: Enterprise & Multi-Use Cases Fuel Rapid Growth
Enterprise & Multi-Use Cases Fuel Rapid Growth US$194M 42% +24% Recurring Revenue CAGR1 US$143M +37% US$104M +66% US$194M Annual Recurring Revenue2 US$63M +52% 24% US$41M +53% US$27M US$17M +58% ARR Growth2 +74% US$10M 1. CAGR between fiscal year 2020 and fiscal year 2023. 2. As at December 31, 2023.
Slide 17: Consistent Execution Driving Customer and ACV Growth
Consistent Execution Driving Customer and ACV Growth 3,759 81% ~4x 104% Customers1 of ARR4 added in 2023 represented by Growth in Average Contract Net Dollar Retention Rate customers that chose multi-year contracts Value since 20162 in 20233 1. As of December 31, 2023. 2. Average Contract Value is c
Slide 18: Robust ARR Growth Across Multiple Industries and Increasing Free Cash Flow Generation
Robust ARR Growth Across Multiple Industries and Increasing Free Cash Flow Generation $194M 28% 13.2% 14.2% Total ARR1 as of Q4 2023 Subscription Revenue Q4 2023 Adj. EBITDA1 Q4 2023 Free Cash Flow Margin1 December 31, 2023 Growth Margin 1. ARR, Adj. EBITDA and Free Cash Flow are non-IFRS Measures.
Slide 19: Capital Efficient Growth
Capital Efficient Growth $194M $157M $118M $74M $47M $30M $18M $20M $11M $4M $1M ~US$8M $1M $4M $3M $5M $4M Cash generated2 since 2016 while growing ARR to US$194M at the 1. 2. Free Cash Flow is a non-IFRS measure. Refer to “Non-IFRS Measures and Reconciliation of Non-IFRS Measures”” in the Appendix t
Slide 20: 3 Year Goal - Achieving Operating Leverage Without Sacrificing Growth
3 Year Goal - Achieving Operating Leverage Without Sacrificing Growth Sales and Strategic growth investments while achieving operating leverage Marketing (30-35% of revenue) Research and Continue to invest in innovation & FedRamp. Maintain current investment Development levels (16-18% of revenue) Gen
Slide 21: Experienced Management and Board
Experienced Management and Board GLOBAL MANAGEMENT TEAM BOARD OF DIRECTORS Claudio Erba, CEO & Board Member Jason Chapnik, Chairman CEO of Docebo since 2005 Founder, Chair and CEO of Intercap; former Chairman of Dealer.com; 30+ years of experience Over 15 years of experience in learning and developm
Slide 22: Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures
Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures 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”) contr
Slide 23: Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures
Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures Free Cash Flow: Free Cash Flow is defined as cash used in operating activities less cash used for purchases of property and equipment and capitalized internal-use software costs, plus non-recurring expenditures such as the payment of
Slide 24: Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures
Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures Adjusted EBITDA Adjusted EBITDA is defined as net income excluding net finance income, depreciation and amortization, income taxes, share-based compensation and related payroll taxes, other income, foreign exchange gains and losses, l
Slide 25: Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures
Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures Adjusted Net Income (Loss) is defined as net (loss) income excluding amortization of intangible assets, share-based compensation and related payroll taxes, acquisition related compensation, transaction related expenses, restructuring