Docebo Launches $70M Share Buyback Amid Strong Q2 Growth — Docebo Inc.

Event summary

Docebo's board approved a $70M share buyback at $20.40 per share, funded by cash and credit facility.
Q2 2026 revenue grew 12.5-12.9% YoY to $68.3-$68.5M, with adjusted EBITDA up 18.5-20.7% to $10.9-$11.1M.
ARR reached $255.1M, a 9.5% YoY increase despite FX headwinds and reduced OEM customer concentration (2.5% vs 8.4%).
Q3 guidance projects revenue of $69.5-$69.7M and adjusted EBITDA of $15.9-$16.1M.
FY2026 revenue forecast raised to $274.5-$276.5M, with adjusted EBITDA at $54.5-$56.5M.

The big picture

Docebo's share buyback and upgraded financial outlook reflect confidence in its AI-driven workforce platform. The move comes as the company reduces reliance on a single OEM customer, signaling strategic pivot toward diversified revenue streams. With $150M in credit capacity and strong Q2 growth, Docebo positions itself for both near-term returns and long-term expansion.

What we're watching

Capital Allocation Strategy: How Docebo balances shareholder returns with growth investments amid a $70M buyback and expanded credit facility.
Revenue Diversification: Whether reduced OEM customer concentration (2.5% of ARR) sustains revenue stability.
Execution Risk: The pace at which Docebo delivers on revised FY2026 guidance amid macroeconomic uncertainties.