Docebo Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	22.57	26.74	2.84	7.02	-13.6	-8.02
Depreciation & Amortization	2.43	2.92	2.77	2.33	2.02	1.21
Other Amortization	0.82	0.47	0.37	-	-	-
Loss (Gain) From Sale of Assets	0.03	0	0.2	0.01	-	-
Stock-Based Compensation	6.11	7.33	6.05	4.71	2.26	1.62
Other Operating Activities	-3.32	-9.29	-3.65	-14.92	0.33	2.48
Change in Accounts Receivable	-5.63	-4.47	-3.73	-8.88	-12.32	-4.58
Change in Accounts Payable	6.01	4.52	5.53	4.43	7.57	4.77
Change in Unearned Revenue	7.29	7.14	10.94	12.7	16.88	9.07
Change in Other Net Operating Assets	-7.09	-6.1	-5.35	-5.12	-6.38	-1.76
Operating Cash Flow	29.21	29.25	15.96	2.29	-3.25	4.79
Operating Cash Flow Growth	12.35%	83.22%	597.73%	-	-	-
Capital Expenditures	-1.1	-1.25	-0.64	-1.08	-1.15	-1.08
Cash Acquisitions	-0.86	-0.25	-8.89	-1.07	-	-2.45
Other Investing Activities	-	-	-	-0.09	-	-
Investing Cash Flow	-1.96	-1.5	-9.52	-2.25	-1.15	-3.53
Long-Term Debt Repaid	-	-1.97	-1.78	-1.41	-1.35	-1.41
Net Debt Issued (Repaid)	-1.91	-1.97	-1.78	-1.41	-1.35	-1.41
Issuance of Common Stock	2.61	3.61	2.17	0.81	1.28	184.87
Repurchase of Common Stock	-47.01	-11.02	-159.45	-	-	-
Other Financing Activities	2.23	2.55	8.06	2.27	0.5	-11.2
Financing Cash Flow	-44.08	-6.84	-151	1.67	0.42	172.27
Foreign Exchange Rate Adjustments	0.92	-0.32	0.22	-0.75	-0.36	-0.15
Net Cash Flow	-15.9	20.59	-144.34	0.97	-4.34	173.38
Free Cash Flow	28.11	28	15.33	1.21	-4.4	3.71
Free Cash Flow Growth	13.40%	82.69%	1170.01%	-	-	-
Free Cash Flow Margin	11.88%	12.91%	8.48%	0.84%	-4.22%	5.90%
Free Cash Flow Per Share	0.93	0.90	0.46	0.04	-0.13	0.13
Cash Income Tax Paid	1.59	0.29	0.88	0.59	0.25	-
Levered Free Cash Flow	9.06	42.75	17.08	5.4	2.04	7.27
Unlevered Free Cash Flow	9.15	42.87	17.26	5.64	2.35	7.54
Change in Working Capital	0.57	1.09	7.39	3.14	5.74	7.5

Source: S&P Global Market Intelligence. Standard template. Financial Sources.