Learning management system provider Docebo has reported a net loss of C$13.6 million (£8.1 million), compared to a net loss of C$8 million reported for 2020.

Revenue for 2021 was C$104.2 million, up from C$62.9 million reported for 2020.

The Toronto-based company also reported its results for the fourth quarter of 2021. Its net loss for the period was C$1.4 million, compared to a net loss of C$ 4.1 million reported in Q4 2020. Revenue for the quarter was C$29.8 million, up from revenue of C$18.8 reported for the fourth quarter of 2020.

Claudio Erba, founder and chief executive of Docebo, said: “The strong momentum that we have experienced throughout 2021 continued in the fourth quarter as we delivered another record quarter of new logo sales adding $14.2 million in net annual recurring revenue. The consistency of our growth, both during the pandemic and the years prior to it, reflect 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.

“We believe the long-term tailwinds for our industry persist as companies invest in Docebo to better educate their customers and partners while also improving learning and knowledge retention within their organisations at a time when investing in retention, engagement and skills development has never been more critical.”

Date published: 15 March 2022

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