# Docebo Inc. (DCBO)

> Source: Nexqual · https://nexqual.com/DCBO · data as of 2026-10-29 19:30 UTC · cite as "Nexqual, Docebo Inc. (DCBO), nexqual.com/DCBO" · informational, not investment advice.

## DCBO major shareholder filing: Schedule 13D/A, Jul 20, 2026
Jason Chapnik, Intercap Inc. filed a Schedule 13D/A on Jul 20, 2026, reporting up to 64.00% of the class (more than 5% owner that may seek to influence the company). Item 4, Purpose of Transaction, quoted:

> Item 4 of the Statement is hereby amended and supplemented as follows: On July 17, 2026, the Issuer announced that its board of directors has approved a substantial issuer bid (the "Offer") under which the Company will offer to repurchase for cancellation up to US$70,000,000 of its outstanding Common Shares at a price of US$20.40 per Common Share. Intercap has informed the Company that it intends to participate in the Offer in a manner consistent with maintaining at least its current level of ownership on a percent of outstanding Common Shares basis. However, Intercap's decision to participate in the Offer is subject to market conditions and other factors and Intercap reserves the right to change its intentions at any time. Intercap's percentage ownership interest in the Company may increase as a result of the Offer.

Source: https://www.sec.gov/Archives/edgar/data/1829959/000164356026000013/0001643560-26-000013-index.htm

**Price:** USD 29.52 (-0.62% today) · US market open, as of October 29, 2026 at 19:30 UTC; quotes may be delayed. Prev close 29.71 · day 28.94–29.52 · 52w 14.39–31.27 · market cap $736M · NMS

## Key facts
- Analysts: Buy (mean 1.73 on a 1–5 scale) (11 analysts), mean target USD 29.93 (range 25–38).
- Total return with dividends: 1Y +15.3% vs S&P 500 +12.9%; 5Y -60.7% vs S&P 500 +78.7%.
- Next earnings: 2026-11-06, EPS estimate USD 0.47, revenue estimate $69.6M.

## Analysts
Consensus Buy (mean 1.73 on a 1–5 scale), 11 analysts; mean target USD 29.93 (low 25, high 38).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-17 | Needham | Reiterated | Buy | $31 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +15.3% | -60.7% |
| S&P 500 (SPY) | +12.9% | +78.7% |
| Per year | +15.3% | -17.0% |
| Volatility (annualized) | 57.0% | 51.7% |
| Max drawdown | -42.6% (Nov 2025→Apr 2026) | -80.9% (Nov 2021→Apr 2026) |

## Peers (Software - Application)
RNG (Ringcentral, Inc.) USD 83.38 -3.27% · APPF (AppFolio, Inc.) USD 205.6 +0.29% · TTAN (ServiceTitan, Inc.) USD 80.8 -0.08% · DSGX (The Descartes Systems Group Inc) USD 91.64 -0.78% · IDCC (InterDigital, Inc.) USD 334.84 +4.45% · YMM (Full Truck Alliance Co. Ltd.) USD 8.03 -0.68%

## More
Full page: https://nexqual.com/DCBO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.47 | $0.47 | +0.1% | $69.6M | 7 |
| Next quarter (ends 2026-12-31) | $0.54 | $0.51 | +6.9% | $71.7M | 5 |
| Current fiscal year (ends 2026-12-31) | $1.69 | $1.61 | +5.1% | $275.5M | 9 |
| Next fiscal year (ends 2027-12-31) | $2.09 | $2.01 | +4.2% | $303.3M | 8 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-06): ±11.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 56.4% | ±11.4% |
| 2027-02-19 | 113 | 48.2% | ±21.0% |
| 2027-05-21 | 204 | 50.9% | ±29.8% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.35 | $0.29 | Beat +20.7% | — |
| — | Quarter ended Mar 31, 2026 | $0.34 | $0.35 | Miss −2.9% | — |
| — | Quarter ended Dec 31, 2025 | $0.45 | $0.36 | Beat +25.0% | — |
| — | Quarter ended Sep 30, 2025 | $0.34 | $0.33 | Beat +3.0% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-09-11 | 6-K | Current report (foreign issuer) · period ended Sep 11, 2026 | https://www.sec.gov/Archives/edgar/data/1829959/000119312526388661/0001193125-26-388661-index.htm |
| 2026-09-09 | 6-K | Current report (foreign issuer) · period ended Sep 9, 2026 | https://www.sec.gov/Archives/edgar/data/1829959/000119312526386426/0001193125-26-386426-index.htm |
| 2026-08-21 | 6-K | Current report (foreign issuer) · period ended Aug 21, 2026 | https://www.sec.gov/Archives/edgar/data/1829959/000119312526361237/0001193125-26-361237-index.htm |
| 2026-08-07 | 6-K | Current report (foreign issuer) · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1829959/000162828026054559/0001628280-26-054559-index.htm |
| 2026-07-21 | 6-K | Current report (foreign issuer) · period ended Jul 21, 2026 | https://www.sec.gov/Archives/edgar/data/1829959/000119312526310543/0001193125-26-310543-index.htm |
| 2026-07-20 | Schedule 13D/A | Jason Chapnik, Intercap Inc.: 64.0% of shares, 5%+ holder that may seek to influence the company (amended) — “Item 4 of the Statement is hereby amended and supplemented as follows: On July 17, 2026, the Issuer announced that its board of directors has approved a substantial issuer bid (the "Offer") under which the Company will offer to repurchase for cancellation up to US$70,000,000 of…” | https://www.sec.gov/Archives/edgar/data/1829959/000164356026000013/0001643560-26-000013-index.htm |
| 2026-07-17 | 6-K | Current report (foreign issuer) · period ended Jul 17, 2026 | https://www.sec.gov/Archives/edgar/data/1829959/000119312526306725/0001193125-26-306725-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.