Docebo Clocks 59% Revenue Growth In Q4 Backed By Customer Additions

• Docebo Inc (NASDAQ:DCBO) reported fourth-quarter FY21 revenue growth of 59% year-on-year to $29.8 million.
• The leading AI-powered learning suite’s Subscription revenue of $27.5 million increased 64% Y/Y.
• Annual Recurring Revenue rose 59% Y/Y to $117.7 million.
• The number of customers was 2,805, up 28.7% Y/Y, while the Average Contract Value rose 23.6% Y/Y to $41,971.
• The gross margin contracted 450 bps to 79.6%. Gross profit rose 50.3% Y/Y to $23.7 million.
• EPS loss was $(0.04).
• Docebo held $215.3 million in cash and equivalents.
• “The strong momentum that we have experienced throughout 2021 continued in the fourth quarter as we delivered another record quarter of new logo sales, adding $14.2 million in net annual recurring revenue,” said Claudio Erba, CEO and Founder.
• Price Action: DCBO shares closed higher by 8.25% at $45.38 on Wednesday.