DCBO - Why Docebo Stock Plummeted on Friday
2024-05-10 17:59:00 ET
On Friday, Docebo (NASDAQ: DCBO) took the wraps off its first quarterly earnings report of this year, and investors were none too pleased with it. This was despite double-digit -- or more -- increases in all-important subscription revenue, overall revenue, and profitability. The learning management platform operator's shares took a nearly 23% hit on the day as a result.
For the quarter, Docebo's revenue was $51.4 million; this was 24% higher than the same period of 2023. Much of this comprised subscription revenue, which rose 23% to just under $49 million. Non-GAAP (generally accepted accounting principles) adjusted net income zoomed even higher, doubling and then some to $7.3 million ($0.23 per share) from the year-ago profit of $3.2 million.
On average, prognosticators following Docebo stock were modeling slightly under $51.2 million on the top line, and $0.17 per share for adjusted net income.
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Why Docebo Stock Plummeted on Friday