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    Gavin Fairweather • Cormark Securities

    Gavin Fairweather's questions to Docebo Inc (DCBO) leadership

    Gavin Fairweather's questions to Docebo Inc (DCBO) leadership • Q2 2025

    Question

    Gavin Fairweather of Cormark Securities inquired about the company's visibility into the federal sector, asking about expected RFP levels for 2026 and feedback from partners on upcoming activity.

    Answer

    CFO Brandon Farber responded that Docebo is proactively building its federal pipeline through direct outreach, not just relying on RFPs. He noted that because the government's fiscal year-end rush is in Q3, it is too tight to expect major revenue this year. Therefore, management remains measured, guiding for more meaningful revenue from the federal sector in 2026, though one or two deals could potentially land this year.

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    Gavin Fairweather's questions to Docebo Inc (DCBO) leadership • Q1 2025

    Question

    Gavin Fairweather asked about the government business, inquiring if the pace of sales was accelerating after achieving ATO status and about expectations for RFP flow. He also asked how CAC payback periods are trending and what the company's target CAC is for a normal environment.

    Answer

    CFO Brandon Farber reported a surprising increase in the government pipeline since receiving ATO status ahead of schedule, bolstered by a White House directive favoring SaaS solutions. Regarding customer acquisition cost (CAC), Farber acknowledged it is not at desired levels. He stated the target is a middle ground between current levels and the hyper-efficient COVID era, with improvements expected from investments in the enterprise and gov teams and a focus on pipeline conversion.

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