Docebo Q2 revenue and gross profit rise, net income dips, full-year guidance updated
Docebo has reported strong growth in revenue and gross profit for the second quarter of 2025, alongside a slight drop in net income.
For the three months to 30 June, total revenue reached US $60.7 million, up 14 per cent year on year, with subscription revenue rising 15 per cent to US $57.1 million and accounting for 94 per cent of the total. Gross profit climbed 15 per cent to US $49.1 million, maintaining a margin of 80.9 per cent. Annual recurring revenue increased to US $233.1 million from US $205.9 million a year earlier.
Net income fell to US $3.1 million, or US $0.10 per share, compared with US $4.7 million, or US $0.15 per share, in the prior-year quarter, although adjusted net income rose to US $8.9 million from US $7.9 million, and adjusted EBITDA increased to US $9.2 million, representing 15.2 per cent of revenue.
- Revenue: US $60.7 million, up 14 per cent year on year
- Gross profit: US $49.1 million, up 15 per cent year on year
- Net income: US $3.1 million, down 34 per cent year on year (from US $4.7 million)
For the 2025 financial year, Docebo expects subscription revenue growth of 10.75 per cent to 11.75 per cent and total revenue growth of 10.0 per cent to 11.0 per cent. The adjusted EBITDA margin outlook remains at 17.0 per cent to 18.0 per cent. For the third quarter, the company projects revenue between US $61.0 million and US $61.2 million, with an improved adjusted EBITDA margin of 19.0 per cent to 19.5 per cent.
Docebo’s latest figures offer an upbeat tone in the learning technologies market which has seen some redundancies recently. The company’s steady double-digit growth in revenue and gross profit, and sustained subscription momentum, suggests it is holding its ground, even advancing, where some are retrenching. While net income has eased, the results point to resilience in demand for enterprise learning platforms and a capacity to deliver growth despite challenging market conditions.
Docebo President and CEO Alessio Artuffo said the results exceeded guidance on both revenue and profitability: ‘Docebo delivered a solid quarter, outperforming our guidance on both revenue and profitability while maintaining disciplined execution in a still-uncertain macro environment.’
Artuffo added: ‘We continue to invest with focus, advancing our AI-first strategy, strengthening our leadership team, and expanding our public sector reach. These milestones position us well to support our customers’ evolving needs and to drive durable, long-term growth.’