Docebo at Oppenheimer conference: enterprise push lifts outlook

Docebo, a learning management system (LMS) vendor, spoke at the Oppenheimer 29th Annual Technology, Internet & Communications Conference on August 13, 2026, to outline a shift in its business strategy. The company is evolving from an LMS vendor to a broader platform for internal and external training, skills, and workflow automation, leveraging artificial intelligence, enterprise customers, vertical specialization, and acquisitions to drive growth.

In its first-half 2026 results, Docebo exceeded expectations, particularly in enterprise segments. The company anticipates improvement in second-half results due to easier comparisons with 2025. Adjusted EBITDA margins reached 20% in 2026, with a target of 27% in the midterm. Management is focusing on enterprise customers and vertical specialization, aiming to improve average contract value and customer retention.

Government, healthcare, and skills sectors are identified as key growth areas. Docebo has acquired 365Talents and will launch new products in Q4 2026. Adjusted EBITDA margins are expected to reach 27% in the midterm. Enterprise customers account for 56% of ARR, with a higher average contract value and retention rates compared to SMB customers. Government is becoming an increasingly important growth lever, with FedRAMP certification in 2025 opening new opportunities in federal sales.