By Sam Boughedda
Investing.com -- Docebo Inc (NASDAQ:DCBO) announced earnings for the fourth quarter and fiscal year 2021 on Thursday.
Despite reporting earnings and revenue above analyst expectations, its shares tumbled by 5.71%.
The artificial intelligence company announced fourth-quarter revenue of $29.8 million, a slight increase on the consensus of $29.5 million. Subscription revenue was the majority of overall revenue, at $27.5 million.
Docebo reported a loss per share of -$0.04, beating expectations of -$0.06. They were aided by a growth in customers from 2,178 at the end of 2020 to 2,805 at the end of 2021.
Full-year 2021 saw the company's revenue increase 66% to $104.2 million compared to the prior year. In addition, subscription revenue represented 92% of overall revenue for the entire year.
"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," said Claudio Erba, CEO and Founder of Docebo.
Erba commented on the company's growth, stating that the consistency "during the pandemic and the years prior to it, reflect the strength of our organic growth engine."