Docebo reports before the market opens on November 6. Analysts expect earnings per share (EPS) to grow about 34% from a year earlier. That’s an encouraging outlook, but the results will need to show that subscription demand is holding up.
Docebo Inc. (TSX: DCBO) is set to report results for the quarter ended September 30, 2026, before the market opens on November 6. Five analysts put the consensus EPS estimate at C$0.46; the earnings calendar lists C$0.47. Analysts expect revenue of US$69.55 million, up 12.9% year over year. Docebo beat estimates in three of its last four reported quarters, though it narrowly missed in its most recent quarter. For investors in Canada, the report will show whether the learning software company can maintain growth after raising its outlook.
Recent earnings trend
Docebo Inc
DCBO.TO
DCBO.TO
Docebo Inc
WealthAwesomeMarket cap
$1.05B
P/E
26.9x
52W high
$44.00
52W low
$19.87
1W change
+3.85%
Beta
0.81
Analyst Price Targets
Based on analyst covering DCBO · as of Nov 5, 2026
Wall Street analysts forecast DCBO stock price to rise 42.8% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$44.10
+42.8% Upside
Previously C$44.10 on Nov 4, 2026
Current Price
C$30.89
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
36.2%
Annualized
90-Day Vol
46.1%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$51.66
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$45.86 | C$40.47 – C$51.97 |
| 60 trading days | C$48.67 | C$40.78 – C$58.09 |
| 90 trading days | C$51.66 | C$41.60 – C$64.15 |
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 | — | 0.4700 | — |
| 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: Analysts expect EPS of about C$0.46 and revenue of US$69.55 million, with EPS growth of 33.9% year over year. Recent results offer some support: Docebo beat estimates in three of the last four quarters, and Q2 subscription revenue rose 12% from a year earlier as the company raised its full-year outlook. Still, the consensus EPS estimate has stayed at C$0.46 over the past month, with one upward and two downward revisions. Watch revenue growth and management’s comments on demand and its new AI-enabled products, not just whether EPS beats estimates. DCBO.TO recently closed at C$30.89, near its 52-week high of C$31.27. Expectations and valuation matter as much as execution.
C$0.46 EPS consensus; US$69.55 million revenue expected
The EPS consensus points to estimated year-over-year growth of 33.9%, while revenue is expected to rise 12.9%. Five analysts contributed to the EPS estimate and 10 to the revenue estimate. The EPS consensus has remained at C$0.46 over the past month, despite one upward and two downward revisions. The earnings calendar lists a separate EPS estimate of C$0.47, so figures may differ by source.
Bull case
Docebo’s recent results support the optimistic view. EPS beat estimates in three of the last four comparable quarters, including by 20.7% in the June quarter. Analysts expect September-quarter revenue to grow 12.9% and EPS to rise 33.9% from a year earlier. Q2 subscription revenue increased 12%, and the company raised its full-year outlook.
Docebo also launched Knowledge and Agents in late October. The company says more than 50 customers have piloted its AI agents. Steady subscription growth and early customer interest in these products would support the company’s growth outlook.
Bear case
Past results don’t guarantee another beat. Docebo missed the March-quarter EPS estimate, and the September-quarter consensus has not risen over the past month. The share price gained 27.4% in that period and is close to its 52-week high, so an in-line update may not be enough to satisfy investors.
Knowledge and Agents are also new products. Pilot participation doesn’t show that adoption is widespread or that the products are generating meaningful revenue. Investors should look for evidence in Docebo’s results and guidance rather than assume the launches will quickly drive growth.
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