ExplanationDocebo is seen as a lockdown stock - ie. one who had significant revenue moved forward during the pandemic because of lockdowns. Lockdown moved more companies to LMS systems, and moved those companies who had already signed up to move more of their business to Docebo. So reopening was not seen to favour Docebo and the stock began declining.
The number sare the numbers however, and Docebo is growing revenue at 50% annually, has no debt, is beginning acquisitions, and is rated just about the highest LMS operator out there. Contracts with Amazon and Walmart back up their claims to market leadership.
It is basically an ignored stock. Lightspeed and Shopify hog the limelight in Canada and US volumes are miniscule. Needs another few quarters of excellent revenue growth to appear on the radar down there. Also needs to start making bigger and bigger acquisitions, which attract headlines and eyeballs and $USD. Just a matter of time. From the business end of things, there has not been even a hint of a stumble or slowdown.