Docebo increased its net loss to $13.6 million in 2021 despite acquiring well-known brands
IBL News | new York
Learning platform Docebo (NASDAQ: DCBO; TSX: DCBO) increased its net loss to $13.6 million in 2021 from $8.0 million in 2020. It had negative cash flow generated by operating activities, compared to a positive cash flow of $4.8 million the previous year. .
Meanwhile, revenue grew 66% to $104.2 million in 2021. Subscription revenue – representing 92% of total revenue – showed a similar increase.
The number of customers increased from 2,179 customers at the end of 2020 to 2,805 in 2021.
In addition to fiscal 2021 results, the Toronto-based company reported Q4 2021 results, with similar subscription revenue growth of 64%.
Claudio Erba, CEO and Founder of Docebo, interpreted the results pointing out, “the strength of our organic growth engine, which is led by best-in-class product and backed by strong sales execution, customer success and support.”
Among the new clients signed in 2021, Docebo mentioned Align Technology, Dine Brands Global, the company behind the IHOP and Applebee franchises, National Collegiate Athletic Association (NCAA), Stanley Black & Decker, SolarEdge, ManpowerGroup, BMW in Greensville, NC.