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An update from Docebo ( (TSE:DCBO) ) is now available.

On July 17, 2026, Docebo announced a substantial issuer bid to repurchase up to US$70 million of its common shares at US$20.40 per share, representing about 13.8% of its outstanding stock on a non-diluted basis. The move, funded by approximately US$10 million in cash and a US$60 million draw on an expanded US$150 million credit facility, reflects management’s view that the current market price undervalues the business and aims to deliver immediate value to shareholders while suspending activity under its normal course issuer bid.

Major shareholder Intercap Inc., which owns about 63.9% of Docebo’s common shares, plans to participate in the offer so as to maintain at least its current ownership percentage, while no other directors or officers have indicated they will tender shares. The company has appointed Canaccord Genuity as financial advisor and TSX Trust as depositary, with formal offer documents expected to be filed and mailed around July 21, 2026, and has cautioned shareholders to review the tax consequences and other terms before deciding whether to participate.

In conjunction with the buyback announcement, Docebo released preliminary unaudited results for the quarter ended June 30, 2026, showing expected subscription revenue of US$63.5–63.7 million, up roughly 11–12% year-on-year. Total revenue is projected at US$68.3–68.5 million, an increase of about 12–13%, while adjusted EBITDA is seen rising around 19–21% to US$10.9–11.1 million, pointing to improving profitability.

Annual recurring revenue is expected to reach US$255.1 million as of June 30, 2026, up 9.5% from a year earlier, with foreign exchange trimming ARR by US$0.4 million in the quarter. The concentration of revenue from Docebo’s largest OEM customer has declined significantly, with that client representing 2.5% of ARR versus 8.4% the prior year, and underlying ARR excluding this customer, acquisitions, and FX headwinds growing about 13.9%, suggesting a more diversified and resilient customer base.

At quarter-end, Docebo anticipates holding US$45.7 million in cash and equivalents and US$88 million in total borrowings, underlining its capacity to fund the issuer bid while pursuing investments for growth, including acquisitions. The company emphasized that these figures are preliminary and subject to review by management, the audit committee, and external auditors, meaning final Q2 2026 results, due August 7, 2026, may differ materially and should be interpreted with caution by investors.

The most recent analyst rating on (TSE:DCBO) stock is a Buy
with a C$31.00 price target.
To see the full list of analyst forecasts on Docebo stock,
see the TSE:DCBO Stock Forecast page.