Slide 1: Investor Presentation | August 2023
Investor Presentation | August 2023 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: Docebo at-a-glance
Docebo at-a-glance Leading KPIs compared to LMS sector averages 3,591 Customers 1,2 US$173M ARR 1 800+ Employees 94% Subscription Revenues 4 52% Subscription Revenue Offices: Toronto, Athens-GA, 8 CAGR 3 Melbourne, Milano, Munich, London, Paris, Dubai (1) As at June 30, 2023. Refer to “Non-IFRS Measur
Slide 4: Today docebo (docēbō) v. I will teach
70% SOCIAL 20% COACHING 10%FORMAL Today docebo (docēbō) v. I will teach
Slide 5: A learning management platform that improves enterprise learning
ENTERPRISE SOFTWARE STACK: Business Intelligence A learning management Collaboration platform that ➔ LMS (Learning Management System) improves enterprise CRM learning. ERP Supply Chain Management Office Productivity The Enterprise Software stack is where companies are investing heavily.
Slide 6: Leading Companies choose Docebo
Leading Companies choose Docebo 3,591 customers across a variety of geographies and industries1 (1) As of June 30, 2023. North America ROW 76% 24% Revenue for the 6 months ended June 30, 2023
Slide 7: Highly Configurable, Personalized Learning at Scale
Highly Configurable, Personalized Learning at Scale Mobile Dashboard AI Content Suggestion AI-Powered Feature Sets: Auto-Tagging, Deep Search, Virtual Coach
Slide 8: Reducing the Tech Stack: All your Learning Needs Under a Single Platform
Reducing the Tech Stack: All your Learning Needs Under a Single Platform IMPROVES OPERATIONAL PRODUCTIVITY REDUCES COMPLEXITY HELPS TO REDUCE TECH STACK BY USING ONE PLATFORM IMPROVES ROI AND LEVERAGES COST PER USERS EXTERNAL TRAINING REVENUE ENABLEMENT TALENT DEVELOPMENT COMPLIANCE Customer Trainin
Slide 9: Case Study
case study How a German tech certification giant created over 3,000 courses and a successful web shop for their global audience in just 4 months. 46% “We wanted to fully digitise our training offering across our Increase in active users1 20,000+ customers base globally. We also wanted to increase our
Slide 10: Case Study
Case Study Why We Win: Sales Training, External Training Achieve High Personalization to 1,100+ 200+ 35% support multiple use cases, via the Docebo Configuration Engine Users trained1 in 3 Assets submitted by Of active users3 use the languages users2 Docebo Mobile App Generate Revenue by training cus
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, Course enrollment, online What were you Learning-based data content for online off-the-shelf delivery, and tracking all in expectin
Slide 12: Growth Opportunity
Growth Opportunity Focused on key growth vectors that feed new logos and expand mandates Grow Enterprise Land & Customer Base Expand OEM & strategic Artificial Build New alliances Intelligence Products Opportunistic Geography Expansion Acquisitions (France, Germany, Asia - Pacific) Customer momentum i
Slide 13: Docebo is Uniquely Positioned in the Fastest-Growing Segment of Enterprise Learning
Docebo is Uniquely Positioned in the Fastest-Growing Segment of Enterprise Learning The Suite Spot Small LMS or LXP Corporate Talent Management A quick-to-deploy and Flexible suite that focuses Enterprise people and talent low-cost LMS or LXP on learning, not HR management suites 2019, 2020, 2021, 2
Slide 14: Delivering the Most Powerful All-Purpose Enterprise Learning Solution
Delivering the Most 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 supp
Slide 15: Growing >2X the LMS industry
Growing >2X the LMS industry 52% Recurring US$143M Revenue CAGR1 +37% US$104M +66% US$173M Annual Recurring US$63M Revenue2 +52% 25% US$41M +53% US$27M US$17M +58% +74% US$10M ARR Growth2 (1) CAGR between fiscal year 2019 and fiscal year 2022 (2) As at June 30, 2023. Refer to “Non-IFRS Measures and Re
Slide 16: Consistent Execution Driving Customer and ACV Growth
Consistent Execution Driving Customer and ACV Growth 3,591 81% ~4x 109% Customers 1 of ARR added in 2022 Growth in average contract Net Dollar Retention represented by customers that value since 20162 Rate in 20223 chose multi-year contracts (1) As at June 30, 2023 (2) Average contract value is calc
Slide 17: Robust ARR Growth and Increasing Free Cash Flow Generation
Robust ARR Growth and Increasing Free Cash Flow Generation 25% 81% 7.0% $7.0M ARR Growth in Q2 2023 Q2 2023 Gross Margin Q2 2023 Adj. EBITDA Margin1 Q2 2023 Free Cash Flow1 (1) Refer to “Non-IFRS Measures and Reconciliation of Non-IFRS Measures”” in the Appendix to this presentation
Slide 18: Capital Efficient Growth
Capital Efficient Growth $173M $157M ~US$7M $118M Cash burn since 2016 to $74M grow ARR2 to US$173M at $47M the end of Q2 2023 $30M $18M $11M $4M $1M $5M $1M $4M $3M $5M $4M (1) Free Cash Flow refers to Cash flow from operating activities less additions to property and equipment. Refer to “Non-IFRS Mea
Slide 19: Strong, Scalable Financial Metrics
Strong, Scalable Financial Metrics METRIC 2020 2021 2022 Q2 23 Q3 23 Guidance Margin Drivers Revenue $62.9m $104.2m $142.9m $43.6m $45.9-$46.1m ➔ Increasing deal sizes ➔ Executing Subscription Revenue Growth (YoY) 54% 67% 37% 28% –- land & expand strategy Recurring Subscription Revenue Mix ➔ Improvi
Slide 20: 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 • Over 15 years of experience in learning and development Dealer.com; 30+ years of e
Slide 21: Bringing AI innovation to enterprise learning
Large global addressable market Bringing AI Customer momentum innovation to and leading innovation enterprise learning Strong KPI’s capital efficient business model
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: Free Cash Flow reconciliation
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 acquisition-related compensation, the payment of transaction-relate
Slide 24: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA is defined as net income (loss) excluding net finance income, depreciation and amortization, income taxes, share-based compensation and related payroll taxes, other income, foreign exchange gains and losses, loss on disposal of assets (if applicable), acquisition relate
Slide 25: Adjusted Net Income (Loss)
Adjusted Net Income (Loss) is defined as net income (loss) excluding amortization of intangible assets, share-based compensation and related payroll taxes, acquisition related compensation, transaction related expenses, foreign exchange loss (gain), and income tax (recovery) expense. Adjusted Net Inc