Docebo (DCBO) 6-K 10 Nov 22 Current report (foreign) Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2022
Cover [Abstract]
Document Type	6-K
Entity File Number	001-39750
Entity Registrant Name	DOCEBO INC.
Entity Address, Address Line One	366 Adelaide St. West
Entity Address, Address Line Two	Suite 701
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Country	CA
Entity Address, Postal Zip Code	M5V 1R7
Entity Central Index Key	0001829959
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Current Fiscal Year End Date	--12-31

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 212,733	$ 215,323
Trade and other receivables (Note 4)	30,551	27,685
Income taxes receivable	363	0
Prepaids and deposits	6,187	6,992
Net investment in finance lease	172	99
Contract costs, net	2,210	1,390
Total current assets	252,216	251,489
Non-current assets:
Contract costs, net	6,810	3,849
Net investment in finance lease	274	204
Deferred tax asset	125	0
Right-of-use assets, net (Note 5)	2,048	3,059
Property and equipment, net (Note 6)	2,540	2,645
Intangible assets, net (Note 7)	1,132	1,576
Goodwill (Note 8)	5,521	5,301
Total assets	270,666	268,123
Current liabilities:
Trade and other payables	21,778	22,817
Income taxes payable	150	0
Deferred revenue	50,648	44,578
Contingent consideration	1,168	467
Lease obligations (Note 5)	1,253	1,311
Total current liabilities	74,997	69,173
Non-current liabilities:
Contingent consideration	1,150	2,236
Deferred revenue	604	116
Lease obligations (Note 5)	1,848	2,690
Employee benefit obligations	2,682	2,560
Deferred tax liability	896	692
Total liabilities	82,177	77,467
Shareholders’ equity
Share capital (Note 10)	267,926	266,119
Contributed surplus	7,553	4,312
Accumulated other comprehensive (loss) income	(10,520)	2,113
Deficit	(76,470)	(81,888)
Total equity	188,489	190,656
Total liabilities and equity	$ 270,666	$ 268,123

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Profit or loss [abstract]
Revenue (Note 13)	$ 36,966	$ 27,068	$ 103,957	$ 74,441
Cost of revenue (Note 14 and 15)	7,140	5,683	20,671	14,699
Gross profit	29,826	21,385	83,286	59,742
Operating expenses
General and administrative (Note 15)	7,824	6,817	22,796	21,178
Sales and marketing (Note 15)	15,523	11,142	44,150	30,708
Research and development (Note 15)	6,105	5,481	18,401	14,858
Share-based compensation (Note 11)	1,000	745	3,624	1,662
Foreign exchange (gain) loss	(10,213)	(4,765)	(11,676)	375
Depreciation and amortization (Note 5, 6 and 7)	564	501	1,731	1,464
Operating expenses	20,803	19,921	79,026	70,245
Operating income (loss)	9,023	1,464	4,260	(10,503)
Finance (income) expense, net (Note 9)	(1,325)	29	(1,677)	103
Other income	(21)	(21)	(64)	(64)
Income (loss) before income taxes	10,369	1,456	6,001	(10,542)
Income tax expense	95	795	583	1,631
Net income (loss) for the periods	10,274	661	5,418	(12,173)
Item that may be reclassified subsequently to income:
Exchange loss (gain) on translation of foreign operations	10,690	4,691	12,633	(575)
Comprehensive loss	$ (416)	$ (4,030)	$ (7,215)	$ (11,598)
Income (loss) per share - basic (in USD per share)	$ 0.31	$ 0.02	$ 0.16	$ (0.37)
Income (loss) per share - diluted (in USD per share)	$ 0.30	$ 0.02	$ 0.16	$ 0.37
Weighted average number of common shares outstanding - basic (Note 12) (in shares)	33,044,250	32,834,833	33,024,887	32,809,397
Weighted average number of common shares outstanding - diluted (Note 12) (in shares)	34,069,688	34,122,772	34,032,666	32,809,397

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY $ in Thousands	USD ($) shares	Common shares USD ($) shares	Contributed surplus USD ($)	Accumulated other comprehensive income (loss) USD ($)	Deficit USD ($)
Balance at beginning of period (in shares) at Dec. 31, 2020 | shares		32,630,536
Balance at beginning of period at Dec. 31, 2020	$ 200,306	$ 264,357	$ 2,537	$ 1,699	$ (68,287)
Exercise of stock options (in shares) | shares	147,025	147,025
Exercise of stock options (Note 10 and 11)	$ 388	$ 548	(160)
Share-based compensation (Note 11)	1,662		1,662
Share issuance under employee share purchase plan (in shares) | shares		4,945
Share issuance under employee share purchase plan (Note 10 and 11)	244	$ 292	(48)
Comprehensive income (loss)	(11,598)			575	(12,173)
Balance at end of period (in shares) at Sep. 30, 2021 | shares		32,782,506
Balance at end of period at Sep. 30, 2021	191,002	$ 265,197	3,991	2,274	(80,460)
Balance at beginning of period (in shares) at Dec. 31, 2021 | shares		32,857,422
Balance at beginning of period at Dec. 31, 2021	$ 190,656	$ 266,119	4,312	2,113	(81,888)
Exercise of stock options (in shares) | shares	9,179	9,179
Exercise of stock options (Note 10 and 11)	$ 88	$ 151	(63)
Share-based compensation (Note 11)	3,624		3,624
Release of RSUs (in shares) | shares		2,800
Release of RSUs (Note 10 and 11)	0	$ 194	(194)
Shares issued in connection with acquisitions (in shares) | shares		15,364
Shares issued related to contingent consideration	700	$ 700
Share issuance under employee share purchase plan (in shares) | shares		20,814
Share issuance under employee share purchase plan (Note 10 and 11)	636	$ 762	(126)
Comprehensive income (loss)	(7,215)			(12,633)	5,418
Balance at end of period (in shares) at Sep. 30, 2022 | shares		32,905,579
Balance at end of period at Sep. 30, 2022	$ 188,489	$ 267,926	$ 7,553	$ (10,520)	$ (76,470)

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows (used in) from operating activities
Net income (loss)	$ 5,418	$ (12,173)
Adjustments to reconcile net income (loss) to net cash from (used in) operating activities:
Depreciation and amortization	1,731	1,464
Share-based compensation	3,624	1,662
Loss on sale of assets	11	0
Unrealized foreign exchange gain	(12,215)	(199)
Income tax expense	583	(43)
Finance (income) expense, net	(1,677)	103
Changes in non-cash working capital items:
Trade and other receivables	(3,483)	(5,245)
Prepaids and deposits	190	(2,859)
Contract costs	(3,982)	(1,358)
Trade and other payables	1,578	6,877
Employee benefit obligations	467	405
Deferred revenue	8,542	8,194
Income taxes paid	(692)	(52)
Cash from (used in) operating activities	95	(3,224)
Cash flows used in investing activities
Purchase of property and equipment	(860)	(999)
Acquisition of business, net of cash acquired	(1,071)	0
Cash used in investing activities	(1,931)	(999)
Cash flows (used in) from financing activities
Payments received on net investment in finance lease	116	64
Repayment of lease obligations	(1,044)	(1,004)
Interest received	827	306
Proceeds from exercise of stock options	88	388
Proceeds from share issuance under employee share purchase plan	636	244
Payments of contingent consideration from acquisitions	93	0
Repayment of borrowings	0	(15)
Cash from (used in) financing activities	530	(17)
Net change in cash and cash equivalents during the period	(1,306)	(4,240)
Effect of foreign exchange on cash and cash equivalents	(1,284)	89
Cash and cash equivalents, beginning of the period	215,323	219,658
Cash and cash equivalents, end of the period	$ 212,733	$ 215,507

Nature of business

Nature of business	9 Months Ended
	Sep. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Nature of business	Nature of business Docebo Inc. (the “Company” or “Docebo”) is a provider of cloud-based learning management systems. The Company was incorporated on April 21, 2016 under the laws of the Province of Ontario. The Company’s head office is located at Suite 701, 366 Adelaide Street West, Toronto, Canada, M5V 1R9. The Company’s shares are listed on both the Toronto Stock Exchange (“TSX”), as of October 8, 2019, and the Nasdaq Global Select Market (“Nasdaq”), as of December 3, 2020, under the stock symbol “DCBO”. The Company has the following subsidiaries: Entity name Country Ownership percentage September 30, 2022 Ownership percentage December 31, 2021 % % Docebo S.p.A Italy 100 100 Docebo NA, Inc. United States 100 100 Docebo EMEA FZ-LLC Dubai 100 100 Docebo UK Limited England 100 100 Docebo France Société par Actions Simplifiée (“Docebo France”) France 100 100 Docebo DACH GmbH (“Docebo Germany”) Germany 100 100 Docebo Australia Pty Ltd 1 ("Docebo Australia") Australia 100 — Docebo Ireland Limited 2 Ireland 100 — 1 On January 21, 2022, the Company acquired all of the issued and outstanding shares of Skillslive Edu Pty Ltd. (“Skillslive”), an educational consulting agency located in Melbourne, Australia. On February 2, 2022 Skillslive changed its name to Docebo Australia Pty Ltd.

Basis of preparation

Basis of preparation	9 Months Ended
	Sep. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Basis of preparation	Basis of preparation Statement of compliance These unaudited condensed consolidated interim financial statements (“financial statements”) have been prepared by management using the same accounting policies and methods as those used in the Company’s consolidated financial statements for the year ended December 31, 2021. These unaudited condensed consolidated interim financial statements have been prepared in compliance with IAS 34 – Interim Financial Reporting. Accordingly, certain disclosures normally included in annual financial statements prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) have been omitted or condensed. These unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2021. These financial statements were approved and authorized for issuance by the Board of Directors of the Company on November 9, 2022. Use of estimates, assumptions and judgments The preparation of these financial statements in conformity with IFRS requires management to make estimates, assumptions and judgments that affect the application of accounting policies and the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results may differ from those estimates. Estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The impact of the novel coronavirus (“COVID-19”) pandemic, with its combined health toll and sharp decline in global economic output, is unprecedented and the full extent of the impact continues to depend on future developments. These developments are highly uncertain and cannot be accurately predicted, including new information which may emerge concerning its severity, its duration and actions by government authorities to contain the outbreak or manage its impact. The extent of the impact of COVID-19 and measures taken to contain the virus on our results of operations and overall financial performance continues to remain uncertain.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Sep. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Summary of significant accounting policies	Summary of significant accounting policiesIn preparing these financial statements, the significant accounting policies applied in these financial statements are the same as those applied and described in the Company’s annual audited consolidated financial statements for the year ended December 31, 2021.

Trade and other receivables

Trade and other receivables	9 Months Ended
	Sep. 30, 2022
Subclassifications of assets, liabilities and equities [abstract]
Trade and other receivables	Trade and other receivables The Company’s trade and other receivables as at September 30, 2022 and December 31, 2021 include the following: 2022 2021 $ $ Trade receivables 23,713 21,985 Accrued revenues 3,084 3,241 Tax credits receivable 2,624 2,423 Other receivables 1,130 36 30,551 27,685 Included in trade receivables is a loss allowance of $813 as at September 30, 2022 and $1,007 as at December 31, 2021.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Leases The Company’s right-of-use assets by class of assets are as follows: Premises Others Total $ $ $ Costs Balance – December 31, 2021 4,974 330 5,304 Additions 286 — 286 Disposals (315) — (315) Effects of foreign exchange (528) (41) (569) Balance – September 30, 2022 4,417 289 4,706 Premises Others Total Accumulated amortization Balance – December 31, 2021 2,037 208 2,245 Amortization 707 51 758 Disposals (42) — (42) Effects of foreign exchange (270) (33) (303) Balance – September 30, 2022 2,432 226 2,658 Carrying value Net balance – December 31, 2021 2,937 122 3,059 Net balance – September 30, 2022 1,985 63 2,048 The Company’s lease obligations are as follows: 2022 $ Balance – December 31, 2021 4,001 Additions 286 Interest accretion 207 Lease repayments (1,044) Effects of foreign exchange (349) Balance – September 30, 2022 3,101 Current 1,253 Non-current 1,848 3,101

Property and equipment

Property and equipment	9 Months Ended
	Sep. 30, 2022
Property, plant and equipment [abstract]
Property and equipment	Property and equipment Furniture and office equipment Leasehold improvements Land and Building Total $ $ $ $ Cost Balance – December 31, 2021 2,098 1,830 359 4,287 Additions 796 64 — 860 Effects of foreign exchange (238) (153) (64) (455) Balance – September 30, 2022 2,656 1,741 295 4,692 Accumulated depreciation Balance – December 31, 2021 854 707 81 1,642 Depreciation 491 221 9 721 Effects of foreign exchange (117) (68) (26) (211) Balance – September 30, 2022 1,228 860 64 2,152 Carrying value Balance – December 31, 2021 1,244 1,123 278 2,645 Balance – September 30, 2022 1,428 881 231 2,540

Intangible assets

Intangible assets	9 Months Ended
	Sep. 30, 2022
Intangible Assets [Abstract]
Intangible assets	Intangible assets Acquired Customer relationships Technology Trademarks Total $ $ $ $ Cost Balance – December 31, 2021 1,415 532 46 1,993 Effects of foreign exchange (191) (72) (6) (269) Balance – September 30, 2022 1,224 460 40 1,724 Accumulated amortization Balance – December 31, 2021 276 124 17 417 Amortization 166 75 11 252 Effects of foreign exchange (50) (22) (5) (77) Balance – September 30, 2022 392 177 23 592 Carrying value Balance – December 31, 2021 1,139 408 29 1,576 Balance – September 30, 2022 832 283 17 1,132

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2022
Goodwill [Abstract]
Goodwill	Goodwill $ Balance – December 31, 2021 5,301 Additions 1,071 Effects of foreign exchange (851) Balance – September 30, 2022 5,521 On January 21, 2022, the Company acquired all of the issued and outstanding shares of Skillslive for total consideration, including a working capital adjustment, of $1,071. The acquisition of Skillslive will contribute to the expansion of the Company’s footprint in Australia and accelerate time-to-market by immediately adding specialized talent and infrastructure in the Asia-Pacific (“APAC”) region.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2022
Financial Instruments [Abstract]
Borrowings	Borrowings Credit Facility On June 1, 2021, the Company terminated the $15,000 committed revolving term credit facility (the “Credit Facility”) it secured from the Toronto-Dominion Bank on July 25, 2019 and repaid all accrued and unpaid interest. Unamortized financing costs of $64 were derecognized and expensed to finance (income) expense during the second quarter of 2021. Prior to termination, the balance drawn on the facility was $nil. Finance (income) expense, net Finance (income) expense for the three and nine months ended September 30, 2022 and 2021 is comprised of: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Interest on contingent consideration 28 19 83 55 Interest on lease obligations 63 83 207 258 Interest and amortization of deferred financing costs on credit facility — — — 84 Interest income (1,416) (109) (1,969) (331) Bank fees and other — 36 2 37 (1,325) 29 (1,677) 103

Share capital

Share capital	9 Months Ended
	Sep. 30, 2022
Share Capital, Reserves And Other Equity Interest [Abstract]
Share capital	Share capital Authorized: Unlimited common shares with no par value Issued and outstanding: Number of shares Amount # $ Balance – December 31, 2021 32,857,422 266,119 Stock option exercise 9,179 151 RSU release 2,800 194 Issuance of common shares related to contingent consideration (i) 15,364 700 Share issuance under employee share purchase plan 20,814 762 Balance – September 30, 2022 32,905,579 267,926

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangements [Abstract]
Share-based compensation	Share-based compensationThe Company has five components of its share-based compensation plan: stock options, deferred share units (“DSUs”), restricted share units (“RSUs”), performance share units (“PSUs”) and employee share purchase plan (“ESPP”). Share-based compensation expense for the three and nine months ended September 30, 2022 was $1,000 and $3,624, respectively (2021 - $745 and $1,662). The expense associated with each component is as follows: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Stock options 607 443 1,655 1,103 DSUs 233 231 632 488 RSUs 124 — 1,225 — ESPP 36 71 112 71 1,000 745 3,624 1,662 There were no PSUs issued and outstanding for the three and nine months ended September 30, 2022 and 2021. follows: 2022 2021 1 Number of options Weighted average exercise price Number of options Weighted average exercise price # C$ # C$ Options outstanding – January 1 1,283,088 12.00 1,516,641 6.73 Options granted 1 168,588 44.91 115,969 53.19 Options forfeited (63,415) 46.41 (28,736) 14.84 Options exercised (9,179) 14.52 (147,025) 3.37 Options outstanding – September 30 1,379,082 14.42 1,456,849 10.61 Options exercisable – September 30 887,779 4.06 814,367 2.54 1 In March 2021, the Company granted stock options to certain executives. Subsequently, the Company identified an error in determining the expected life and volatility inputs used in the Black-Scholes pricing model to calculate the fair value of options, which led to the Company determining that 63,992 excess options were granted in March 2021 to six senior executives (the “Awardees”). The granting of excess options was immaterial to the Company but the error resulted in an award of options to the Awardees that was not reasonable and appropriate to grant. During 2021, the Company amended and restated the option award agreements for those affected Awardees to reflect the issuance of the appropriate number of options. The following table is a summary of the Company’s stock options outstanding as at September 30, 2022: Options outstanding Options exercisable Exercise price range Number outstanding Weighted average remaining contractual life (years) Exercise price range Number exercisable C$ # # C$ # 0.0001 - 1.09 784,368 4.71 0.0001 - 1.09 748,368 8.86 - 11.06 51,811 8.20 8.86 - 11.06 21,084 15.79 - 16.00 268,499 7.03 15.79 - 16.00 95,969 26.43 - 95.12 274,404 9.26 26.43 - 95.12 22,358 1,379,082 6.19 887,779 The following table is a summary of the Company’s stock options outstanding as at September 30, 2021: Options outstanding Options exercisable Exercise price range Number outstanding Weighted average remaining contractual life (years) Exercise price range Number exercisable C$ # # C$ # 0.0001 - 1.09 784,368 5.70 0.0001 - 1.09 695,968 8.86 - 11.06 190,522 9.21 8.86 - 11.06 59,784 15.79 - 16.00 341,701 8.03 15.79 - 16.00 57,529 26.43 - 69.48 140,258 9.45 26.43 - 69.48 1,086 1,456,849 7.17 814,367 DSUs The following table presents information concerning the number of DSUs granted by the Company: # DSUs – December 31, 2021 59,654 Granted (at C$38.97 - $86.93 per unit) 25,372 DSUs - September 30, 2022 85,026 RSUs The following table presents information concerning the number of RSUs granted by the Company: # RSUs – December 31, 2021 46,591 Granted (at C$40.30 - $54.26 per unit) 97,816 Released (at C$94.05 per unit) (2,800) Forfeited (at C$86.38 - $94.05 per unit) (30,222) RSUs - September 30, 2022 111,385

Income (loss) per share

Income (loss) per share	9 Months Ended
	Sep. 30, 2022
Earnings per share [abstract]
Income (loss) per share	Income (loss) per share The following table summarizes the calculation of the weighted average number of basic and diluted common shares: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 # # # # Weighted average number of basic Common Shares 33,044,250 32,834,833 33,024,887 32,809,397 Share options 815,863 1,228,881 850,888 — DSUs 84,254 59,058 68,749 — RSUs 125,321 — 88,142 — Weighted average number of diluted Common Shares 34,069,688 34,122,772 34,032,666 32,809,397 For the three and nine months ended September 30, 2022, nil and 15,991, respectively (three and nine months ended September 30, 2021 – nil and all share options and units, respectively) share options were excluded from the weighted average number of diluted common shares as their effect would have been anti-dilutive.

Revenue and related balances

Revenue and related balances	9 Months Ended
	Sep. 30, 2022
Revenue From Contracts With Customers [Abstract]
Revenue and related balances	Revenue and related balances Disaggregated revenue The Company derives its revenues from two main sources, subscription to its SaaS application, and professional services revenue, which includes services such as initial implementation, project management, and training. The following table represents disaggregation of revenue for the three and nine months ended September 30: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Subscription revenue 34,279 25,057 95,323 68,476 Professional services 2,687 2,011 8,634 5,965 36,966 27,068 103,957 74,441

Cost of revenue

Cost of revenue	9 Months Ended
	Sep. 30, 2022
Analysis of income and expense [abstract]
Cost of revenue	Cost of revenue The following table represents cost of revenue for the three and nine months ended September 30: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Employee salaries and benefits 3,873 3,615 12,149 9,567 Web hosting fees 1,329 939 3,589 2,482 Third party service fees 1,763 977 4,361 2,172 Other 175 152 572 478 7,140 5,683 20,671 14,699

Employee compensation

Employee compensation	9 Months Ended
	Sep. 30, 2022
Analysis of income and expense [abstract]
Employee compensation	Employee compensationThe total employee compensation comprising salaries and benefits for the three and nine months ended September 30, 2022 was $22,954 and $67,543, respectively (2021 - $18,554 and $51,520). Employee compensation costs were included in the following expenses for the three and nine months ended September 30: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Cost of revenue 3,873 3,615 12,149 9,567 General and administrative 3,582 2,666 10,328 7,797 Sales and marketing 10,900 8,231 31,013 22,609 Research and development 4,599 4,042 14,053 11,547 22,954 18,554 67,543 51,520

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2022
Related Party [Abstract]
Related party transactions	Related party transactionsKey management personnel are those persons having the authority and responsibility for planning, directing and controlling activities of the Company, directly or indirectly, including the Chief Executive Officer, President and Chief Operating Officer, Chief Financial Officer, Chief Product Officer, Chief Corporate Development Officer, Chief Human Resource Officer, Chief Legal Officer and Directors. Compensation expense for the Company’s key management personnel for the three and nine months ended September 30, 2022 and 2021 is as follows: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Salaries and benefits 954 916 3,099 2,824 Share-based compensation 425 486 2,106 1,110 1,379 1,402 5,205 3,934

Financial instruments and risk

Financial instruments and risk management	9 Months Ended
	Sep. 30, 2022
Financial Instruments [Abstract]
Financial instruments and risk management	Financial instruments and risk management Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from deposits with banks and outstanding receivables. The Company trades only with recognized, creditworthy third parties. Due to the Company’s diversified customer base, there is no particular concentration of credit risk related to the Company’s trade and other receivables. Trade and other receivables are monitored on an ongoing basis to ensure timely collection of amounts. Potential effects from COVID-19 on the Company’s credit risk have been considered and have resulted in increases to its allowances for expected credit losses on customer balances. The Company continues its assessment given the fluidity of COVID-19’s global impact. The carrying values of cash and cash equivalents, trade and other receivables, trade and other payables and borrowings approximate fair values due to the short-term nature of these items or being carried at fair value or, for borrowings, the interest rates charged approximate current market rates. The risk of material change in fair value is not considered to be significant. The Company does not use derivative financial instruments to manage this risk. Contingent consideration is classified as a Level 3 financial instrument. The fair value of the contingent consideration was calculated using discounted cash flows. During the three and nine months ended September 30, 2022, there were no transfers of amounts between levels in the fair value hierarchy.

Segment information

Segment information	9 Months Ended
	Sep. 30, 2022
Operating Segments [Abstract]
Segment information	Segment informationThe Company reports segment information based on internal reports used by the chief operating decision maker (“CODM”) to make operating and resource allocation decisions and to assess performance. The CODM is the Chief Executive Officer. The CODM makes decisions and assesses performance of the Company on a consolidated basis such that the Company is a single reportable operating segment. The following tables present details on revenues derived in the following geographical locations for the three and nine months ended September 30, 2022 and 2021. Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ North America 28,439 19,768 78,731 53,907 Rest of World 8,527 7,300 25,226 20,534 36,966 27,068 103,957 74,441

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Use of estimates, assumptions and judgments	Use of estimates, assumptions and judgments The preparation of these financial statements in conformity with IFRS requires management to make estimates, assumptions and judgments that affect the application of accounting policies and the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results may differ from those estimates. Estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The impact of the novel coronavirus (“COVID-19”) pandemic, with its combined health toll and sharp decline in global economic output, is unprecedented and the full extent of the impact continues to depend on future developments. These developments are highly uncertain and cannot be accurately predicted, including new information which may emerge concerning its severity, its duration and actions by government authorities to contain the outbreak or manage its impact. The extent of the impact of COVID-19 and measures taken to contain the virus on our results of operations and overall financial performance continues to remain uncertain.

Nature of business (Tables)

Nature of business (Tables)	9 Months Ended
	Sep. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
List of subsidiaries	The Company has the following subsidiaries: Entity name Country Ownership percentage September 30, 2022 Ownership percentage December 31, 2021 % % Docebo S.p.A Italy 100 100 Docebo NA, Inc. United States 100 100 Docebo EMEA FZ-LLC Dubai 100 100 Docebo UK Limited England 100 100 Docebo France Société par Actions Simplifiée (“Docebo France”) France 100 100 Docebo DACH GmbH (“Docebo Germany”) Germany 100 100 Docebo Australia Pty Ltd 1 ("Docebo Australia") Australia 100 — Docebo Ireland Limited 2 Ireland 100 — 1 On January 21, 2022, the Company acquired all of the issued and outstanding shares of Skillslive Edu Pty Ltd. (“Skillslive”), an educational consulting agency located in Melbourne, Australia. On February 2, 2022 Skillslive changed its name to Docebo Australia Pty Ltd.

Trade and other receivables (Ta

Trade and other receivables (Tables)	9 Months Ended
	Sep. 30, 2022
Subclassifications of assets, liabilities and equities [abstract]
Components of trade and other receivables	The Company’s trade and other receivables as at September 30, 2022 and December 31, 2021 include the following: 2022 2021 $ $ Trade receivables 23,713 21,985 Accrued revenues 3,084 3,241 Tax credits receivable 2,624 2,423 Other receivables 1,130 36 30,551 27,685

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Reconciliation of right-of-use assets	The Company’s right-of-use assets by class of assets are as follows: Premises Others Total $ $ $ Costs Balance – December 31, 2021 4,974 330 5,304 Additions 286 — 286 Disposals (315) — (315) Effects of foreign exchange (528) (41) (569) Balance – September 30, 2022 4,417 289 4,706 Premises Others Total Accumulated amortization Balance – December 31, 2021 2,037 208 2,245 Amortization 707 51 758 Disposals (42) — (42) Effects of foreign exchange (270) (33) (303) Balance – September 30, 2022 2,432 226 2,658 Carrying value Net balance – December 31, 2021 2,937 122 3,059 Net balance – September 30, 2022 1,985 63 2,048
Schedule of lease obligations	The Company’s lease obligations are as follows: 2022 $ Balance – December 31, 2021 4,001 Additions 286 Interest accretion 207 Lease repayments (1,044) Effects of foreign exchange (349) Balance – September 30, 2022 3,101 Current 1,253 Non-current 1,848 3,101

Property, plant and equipment (

Property, plant and equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property, plant and equipment [abstract]
Summary of property and equipment	Furniture and office equipment Leasehold improvements Land and Building Total $ $ $ $ Cost Balance – December 31, 2021 2,098 1,830 359 4,287 Additions 796 64 — 860 Effects of foreign exchange (238) (153) (64) (455) Balance – September 30, 2022 2,656 1,741 295 4,692 Accumulated depreciation Balance – December 31, 2021 854 707 81 1,642 Depreciation 491 221 9 721 Effects of foreign exchange (117) (68) (26) (211) Balance – September 30, 2022 1,228 860 64 2,152 Carrying value Balance – December 31, 2021 1,244 1,123 278 2,645 Balance – September 30, 2022 1,428 881 231 2,540

Intangible assets (Tables)

Intangible assets (Tables)	9 Months Ended
	Sep. 30, 2022
Intangible Assets [Abstract]
Summary of intangible assets	Acquired Customer relationships Technology Trademarks Total $ $ $ $ Cost Balance – December 31, 2021 1,415 532 46 1,993 Effects of foreign exchange (191) (72) (6) (269) Balance – September 30, 2022 1,224 460 40 1,724 Accumulated amortization Balance – December 31, 2021 276 124 17 417 Amortization 166 75 11 252 Effects of foreign exchange (50) (22) (5) (77) Balance – September 30, 2022 392 177 23 592 Carrying value Balance – December 31, 2021 1,139 408 29 1,576 Balance – September 30, 2022 832 283 17 1,132

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill	$ Balance – December 31, 2021 5,301 Additions 1,071 Effects of foreign exchange (851) Balance – September 30, 2022 5,521

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
Financial Instruments [Abstract]
Finance income, net	Finance (income) expense for the three and nine months ended September 30, 2022 and 2021 is comprised of: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Interest on contingent consideration 28 19 83 55 Interest on lease obligations 63 83 207 258 Interest and amortization of deferred financing costs on credit facility — — — 84 Interest income (1,416) (109) (1,969) (331) Bank fees and other — 36 2 37 (1,325) 29 (1,677) 103

Share capital (Tables)

Share capital (Tables)	9 Months Ended
	Sep. 30, 2022
Share Capital, Reserves And Other Equity Interest [Abstract]
Share capital reconciliation	Authorized: Unlimited common shares with no par value Issued and outstanding: Number of shares Amount # $ Balance – December 31, 2021 32,857,422 266,119 Stock option exercise 9,179 151 RSU release 2,800 194 Issuance of common shares related to contingent consideration (i) 15,364 700 Share issuance under employee share purchase plan 20,814 762 Balance – September 30, 2022 32,905,579 267,926

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangements [Abstract]
Expense associated with each component	Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Stock options 607 443 1,655 1,103 DSUs 233 231 632 488 RSUs 124 — 1,225 — ESPP 36 71 112 71 1,000 745 3,624 1,662
Changes in stock options	The changes in the number of stock options during the nine months ended September 30, 2022 and 2021 were as follows: 2022 2021 1 Number of options Weighted average exercise price Number of options Weighted average exercise price # C$ # C$ Options outstanding – January 1 1,283,088 12.00 1,516,641 6.73 Options granted 1 168,588 44.91 115,969 53.19 Options forfeited (63,415) 46.41 (28,736) 14.84 Options exercised (9,179) 14.52 (147,025) 3.37 Options outstanding – September 30 1,379,082 14.42 1,456,849 10.61 Options exercisable – September 30 887,779 4.06 814,367 2.54 1 In March 2021, the Company granted stock options to certain executives. Subsequently, the Company identified an error in determining the expected life and volatility inputs used in the Black-Scholes pricing model to calculate the fair value of options, which led to the Company determining that 63,992 excess options were granted in March 2021 to six senior executives (the “Awardees”). The granting of excess options was immaterial to the Company but the error resulted in an award of options to the Awardees that was not reasonable and appropriate to grant. During 2021, the Company amended and restated the option award agreements for those affected Awardees to reflect the issuance of the appropriate number of options.
Stock options outstanding and exercisable by range of exercise prices	The following table is a summary of the Company’s stock options outstanding as at September 30, 2022: Options outstanding Options exercisable Exercise price range Number outstanding Weighted average remaining contractual life (years) Exercise price range Number exercisable C$ # # C$ # 0.0001 - 1.09 784,368 4.71 0.0001 - 1.09 748,368 8.86 - 11.06 51,811 8.20 8.86 - 11.06 21,084 15.79 - 16.00 268,499 7.03 15.79 - 16.00 95,969 26.43 - 95.12 274,404 9.26 26.43 - 95.12 22,358 1,379,082 6.19 887,779 The following table is a summary of the Company’s stock options outstanding as at September 30, 2021: Options outstanding Options exercisable Exercise price range Number outstanding Weighted average remaining contractual life (years) Exercise price range Number exercisable C$ # # C$ # 0.0001 - 1.09 784,368 5.70 0.0001 - 1.09 695,968 8.86 - 11.06 190,522 9.21 8.86 - 11.06 59,784 15.79 - 16.00 341,701 8.03 15.79 - 16.00 57,529 26.43 - 69.48 140,258 9.45 26.43 - 69.48 1,086 1,456,849 7.17 814,367
Number and weighted average remaining contractual life of stock options outstanding and exercisable	The following table is a summary of the Company’s stock options outstanding as at September 30, 2022: Options outstanding Options exercisable Exercise price range Number outstanding Weighted average remaining contractual life (years) Exercise price range Number exercisable C$ # # C$ # 0.0001 - 1.09 784,368 4.71 0.0001 - 1.09 748,368 8.86 - 11.06 51,811 8.20 8.86 - 11.06 21,084 15.79 - 16.00 268,499 7.03 15.79 - 16.00 95,969 26.43 - 95.12 274,404 9.26 26.43 - 95.12 22,358 1,379,082 6.19 887,779 The following table is a summary of the Company’s stock options outstanding as at September 30, 2021: Options outstanding Options exercisable Exercise price range Number outstanding Weighted average remaining contractual life (years) Exercise price range Number exercisable C$ # # C$ # 0.0001 - 1.09 784,368 5.70 0.0001 - 1.09 695,968 8.86 - 11.06 190,522 9.21 8.86 - 11.06 59,784 15.79 - 16.00 341,701 8.03 15.79 - 16.00 57,529 26.43 - 69.48 140,258 9.45 26.43 - 69.48 1,086 1,456,849 7.17 814,367
Number of DSUs and RSUs granted	DSUs The following table presents information concerning the number of DSUs granted by the Company: # DSUs – December 31, 2021 59,654 Granted (at C$38.97 - $86.93 per unit) 25,372 DSUs - September 30, 2022 85,026 RSUs The following table presents information concerning the number of RSUs granted by the Company: # RSUs – December 31, 2021 46,591 Granted (at C$40.30 - $54.26 per unit) 97,816 Released (at C$94.05 per unit) (2,800) Forfeited (at C$86.38 - $94.05 per unit) (30,222) RSUs - September 30, 2022 111,385

Income (loss) per share (Tables

Income (loss) per share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings per share [abstract]
Schedule of weighted-average number of basic and diluted shares	The following table summarizes the calculation of the weighted average number of basic and diluted common shares: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 # # # # Weighted average number of basic Common Shares 33,044,250 32,834,833 33,024,887 32,809,397 Share options 815,863 1,228,881 850,888 — DSUs 84,254 59,058 68,749 — RSUs 125,321 — 88,142 — Weighted average number of diluted Common Shares 34,069,688 34,122,772 34,032,666 32,809,397 For the three and nine months ended September 30, 2022, nil and 15,991, respectively (three and nine months ended September 30, 2021 – nil and all share options and units, respectively) share options were excluded from the weighted average number of diluted common shares as their effect would have been anti-dilutive.

Revenue and related balances (T

Revenue and related balances (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue From Contracts With Customers [Abstract]
Schedule of disaggregation of revenue	The following table represents disaggregation of revenue for the three and nine months ended September 30: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Subscription revenue 34,279 25,057 95,323 68,476 Professional services 2,687 2,011 8,634 5,965 36,966 27,068 103,957 74,441

Cost of revenue (Tables)

Cost of revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Analysis of income and expense [abstract]
Components of cost of revenue	The following table represents cost of revenue for the three and nine months ended September 30: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Employee salaries and benefits 3,873 3,615 12,149 9,567 Web hosting fees 1,329 939 3,589 2,482 Third party service fees 1,763 977 4,361 2,172 Other 175 152 572 478 7,140 5,683 20,671 14,699

Employee compensation (Tables)

Employee compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Analysis of income and expense [abstract]
Employee compensation costs	Employee compensation costs were included in the following expenses for the three and nine months ended September 30: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Cost of revenue 3,873 3,615 12,149 9,567 General and administrative 3,582 2,666 10,328 7,797 Sales and marketing 10,900 8,231 31,013 22,609 Research and development 4,599 4,042 14,053 11,547 22,954 18,554 67,543 51,520

Related party transactions (Tab

Related party transactions (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party [Abstract]
Compensation expense of key management personnel	Compensation expense for the Company’s key management personnel for the three and nine months ended September 30, 2022 and 2021 is as follows: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ Salaries and benefits 954 916 3,099 2,824 Share-based compensation 425 486 2,106 1,110 1,379 1,402 5,205 3,934

Segment information (Tables)

Segment information (Tables)	9 Months Ended
	Sep. 30, 2022
Operating Segments [Abstract]
Schedules of revenue by geographical locations	The following tables present details on revenues derived in the following geographical locations for the three and nine months ended September 30, 2022 and 2021. Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 $ $ $ $ North America 28,439 19,768 78,731 53,907 Rest of World 8,527 7,300 25,226 20,534 36,966 27,068 103,957 74,441

Nature of business (Details)

Nature of business (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Docebo S.p.A
Disclosure of subsidiaries [line items]
Ownership percentage	100%	100%
Docebo NA, Inc.
Disclosure of subsidiaries [line items]
Ownership percentage	100%	100%
Docebo EMEA FZ-LLC
Disclosure of subsidiaries [line items]
Ownership percentage	100%	100%
Docebo UK Limited
Disclosure of subsidiaries [line items]
Ownership percentage	100%	100%
Docebo France Société par Actions Simplifiée (“Docebo France”)
Disclosure of subsidiaries [line items]
Ownership percentage	100%	100%
Docebo DACH GmbH (“Docebo Germany”)
Disclosure of subsidiaries [line items]
Ownership percentage	100%	100%
Docebo Australia Pty Ltd ("Docebo Australia")
Disclosure of subsidiaries [line items]
Ownership percentage	100%	0%
Docebo Ireland Limited
Disclosure of subsidiaries [line items]
Ownership percentage	100%	0%

Trade and other receivables - C

Trade and other receivables - Components of trade and other receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Trade receivables	$ 23,713	$ 21,985
Accrued revenues	3,084	3,241
Tax credits receivable	2,624	2,423
Other receivables	1,130	36
Trade and other receivables	$ 30,551	$ 27,685

Trade and other receivables - N

Trade and other receivables - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Trade receivables
Disclosure of financial assets [line items]
Loss allowance	$ 813	$ 1,007

Leases - Right-of-use assets (D

Leases - Right-of-use assets (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	$ 3,059
Balance – End of period	2,048
Premises
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	2,937
Balance – End of period	1,985
Others
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	122
Balance – End of period	63
Costs
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	5,304
Additions	286
Disposals	(315)
Effects of foreign exchange	(569)
Balance – End of period	4,706
Costs | Premises
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	4,974
Additions	286
Disposals	(315)
Effects of foreign exchange	(528)
Balance – End of period	4,417
Costs | Others
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	330
Additions	0
Disposals	0
Effects of foreign exchange	(41)
Balance – End of period	289
Accumulated amortization
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	(2,245)
Additions	(758)
Disposals	(42)
Effects of foreign exchange	303
Balance – End of period	(2,658)
Accumulated amortization | Premises
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	(2,037)
Additions	(707)
Disposals	(42)
Effects of foreign exchange	270
Balance – End of period	(2,432)
Accumulated amortization | Others
Disclosure of quantitative information about right-of-use assets [line items]
Balance – Beginning of period	(208)
Additions	(51)
Disposals	0
Effects of foreign exchange	33
Balance – End of period	$ (226)

Leases - Lease obligations (Det

Leases - Lease obligations (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Balance – Beginning of period	$ 4,001
Additions	286
Interest accretion	207
Lease repayments	(1,044)
Effects of foreign exchange	(349)
Balance – End of period	3,101
Current	1,253	$ 1,311
Non-current	$ 1,848	$ 2,690

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Short-term leases and leases of low-value assets	$ 47	$ 76	$ 163	$ 234

Property, plant and equipment_2

Property, plant and equipment (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	$ 2,645
Balance at end of period	2,540
Furniture and office equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	1,244
Balance at end of period	1,428
Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	1,123
Balance at end of period	881
Land and Building
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	278
Balance at end of period	231
Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	4,287
Additions	860
Effects of foreign exchange	(455)
Balance at end of period	4,692
Costs | Furniture and office equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	2,098
Additions	796
Effects of foreign exchange	(238)
Balance at end of period	2,656
Costs | Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	1,830
Additions	64
Effects of foreign exchange	(153)
Balance at end of period	1,741
Costs | Land and Building
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	359
Additions	0
Effects of foreign exchange	(64)
Balance at end of period	295
Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	(1,642)
Additions	(721)
Effects of foreign exchange	211
Balance at end of period	(2,152)
Accumulated depreciation | Furniture and office equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	(854)
Additions	(491)
Effects of foreign exchange	117
Balance at end of period	(1,228)
Accumulated depreciation | Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	(707)
Additions	(221)
Effects of foreign exchange	68
Balance at end of period	(860)
Accumulated depreciation | Land and Building
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	(81)
Additions	(9)
Effects of foreign exchange	26
Balance at end of period	$ (64)

Intangible assets (Details)

Intangible assets (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	$ 1,576
Balance at end of period	1,132
Customer relationships
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	1,139
Balance at end of period	832
Technology
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	408
Balance at end of period	283
Trademarks
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	29
Balance at end of period	17
Costs
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	1,993
Effects of foreign exchange	(269)
Balance at end of period	1,724
Costs | Customer relationships
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	1,415
Effects of foreign exchange	(191)
Balance at end of period	1,224
Costs | Technology
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	532
Effects of foreign exchange	(72)
Balance at end of period	460
Costs | Trademarks
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	46
Effects of foreign exchange	(6)
Balance at end of period	40
Accumulated depreciation
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	(417)
Amortization	252
Effects of foreign exchange	77
Balance at end of period	(592)
Accumulated depreciation | Customer relationships
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	(276)
Amortization	166
Effects of foreign exchange	50
Balance at end of period	(392)
Accumulated depreciation | Technology
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	(124)
Amortization	75
Effects of foreign exchange	22
Balance at end of period	(177)
Accumulated depreciation | Trademarks
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	(17)
Amortization	11
Effects of foreign exchange	5
Balance at end of period	$ (23)

Goodwill - Changes in Goodwill

Goodwill - Changes in Goodwill (Details) - Goodwill $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	$ 5,301
Additions	1,071
Effects of foreign exchange	(851)
Balance at end of period	$ 5,521

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) $ in Thousands	Jan. 21, 2022 USD ($)
Skillslive
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Paid in cash	$ 1,071

Borrowings - Credit facility (D

Borrowings - Credit facility (Details) - Credit facility - USD ($) $ in Thousands	Jun. 30, 2021	Jul. 25, 2019
Disclosure of detailed information about borrowings [line items]
Borrowing commitment		$ 15,000
Borrowings		$ 0
Unamortized financing costs
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 64

Borrowings - Finance income, ne

Borrowings - Finance income, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Financial Instruments [Abstract]
Interest on contingent consideration	$ 28	$ 19	$ 83	$ 55
Interest on lease obligations	63	83	207	258
Interest and amortization of deferred financing costs on credit facility	0	0	0	84
Interest income	(1,416)	(109)	(1,969)	(331)
Bank fees and other	0	36	2	37
Net finance expense	$ (1,325)	$ 29	$ (1,677)	$ 103

Share capital (Details)

Share capital (Details) $ / shares in Units, $ in Thousands			9 Months Ended
	Apr. 28, 2022 $ / shares shares	Apr. 28, 2022 $ / shares shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($) shares
Number of shares
Stock option exercise (in shares) | shares			9,179	147,025
Amount
Balance at beginning of period			$ 266,119
Stock option exercise			88	$ 388
RSU release			0
Issuance of common shares related to contingent consideration			700
Share issuance under employee share purchase plan			636	$ 244
Balance at end of period			$ 267,926
Common shares
Number of shares
Balance at beginning of period (in shares) | shares			32,857,422	32,630,536
Stock option exercise (in shares) | shares			9,179	147,025
Release of RSUs (in shares) | shares			2,800
Issuance of common shares related to contingent consideration (in shares) | shares	15,364	15,364	15,364
Share issuance under employee share purchase plan (in shares) | shares			20,814	4,945
Balance at end of period (in shares) | shares			32,905,579	32,782,506
Amount
Balance at beginning of period			$ 266,119
Stock option exercise			151	$ 548
RSU release			194
Issuance of common shares related to contingent consideration			700
Share issuance under employee share purchase plan			762	$ 292
Balance at end of period			$ 267,926
Shares issued based on the fair value (in usd and cad per share) | (per share)	$ 45.55	$ 58.47

Share-based compensation - Addi

Share-based compensation - Additional information (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2021 shares individual	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2022 USD ($) shares component	Sep. 30, 2021 USD ($) shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of components of share based compensation plan | component				5
Share-based compensation | $		$ 1,000	$ 745	$ 3,624	$ 1,662
Number of options granted (in shares)				168,588	115,969
Senior Executive
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options granted (in shares)	63,992
Number of individuals granted with excess options | individual	6
PSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of units outstanding (in shares)		0	0	0	0

Share-based compensation - Comp

Share-based compensation - Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation	$ 1,000	$ 745	$ 3,624	$ 1,662
Stock options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation	607	443	1,655	1,103
DSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation	233	231	632	488
RSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation	124	0	1,225	0
ESPP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation	$ 36	$ 71	$ 112	$ 71

Share-based compensation - Chan

Share-based compensation - Changes in stock options (Details)	9 Months Ended
	Sep. 30, 2022 shares $ / shares	Sep. 30, 2021 shares $ / shares
Share-Based Payment Arrangements [Abstract]
Number of options outstanding - beginning of period (in shares) | shares	1,283,088	1,516,641
Number of options granted (in shares) | shares	168,588	115,969
Number of options forfeited (in shares) | shares	(63,415)	(28,736)
Number of options exercised (in shares) | shares	(9,179)	(147,025)
Number of options outstanding - end of period (in shares) | shares	1,379,082	1,456,849
Number of options exercisable (in shares) | shares	887,779	814,367
Weighted average exercise price, options outstanding - beginning of period (in cad per share) | $ / shares	$ 12	$ 6.73
Weighted average exercise price, options granted (in cad per share) | $ / shares	44.91	53.19
Weighted average exercise price, options forfeited (in cad per share) | $ / shares	46.41	14.84
Weighted average exercise price, options exercised (in cad per share) | $ / shares	14.52	3.37
Weighted average exercise price, options outstanding - end of period (in cad per share) | $ / shares	14.42	10.61
Weighted average exercise price, options exercisable (in cad per share) | $ / shares	$ 4.06	$ 2.54

Share-based compensation - Summ

Share-based compensation - Summary of share options outstanding (Details)	9 Months Ended
	Sep. 30, 2022 shares $ / shares	Sep. 30, 2021 shares $ / shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding (in shares)	1,379,082	1,456,849	1,283,088	1,516,641
Weighted average remaining contractual life of options outstanding	6 years 2 months 8 days	7 years 2 months 1 day
Number of options exercisable (in shares)	887,779	814,367
0.0001 - 1.09
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding (in shares)	784,368	784,368
Weighted average remaining contractual life of options outstanding	4 years 8 months 15 days	5 years 8 months 12 days
Number of options exercisable (in shares)	748,368	695,968
0.0001 - 1.09 | Minimum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares	$ 0.0001	$ 0.0001
0.0001 - 1.09 | Maximum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares	$ 1.09	$ 1.09
8.86 - 11.06
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding (in shares)	51,811	190,522
Weighted average remaining contractual life of options outstanding	8 years 2 months 12 days	9 years 2 months 15 days
Number of options exercisable (in shares)	21,084	59,784
8.86 - 11.06 | Minimum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares	$ 8.86	$ 8.86
8.86 - 11.06 | Maximum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares	$ 11.06	$ 11.06
15.79 - 16.00
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding (in shares)	268,499	341,701
Weighted average remaining contractual life of options outstanding	7 years 10 days	8 years 10 days
Number of options exercisable (in shares)	95,969	57,529
15.79 - 16.00 | Minimum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares	$ 15.79	$ 15.79
15.79 - 16.00 | Maximum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares	$ 16	$ 16
26.43 - 64.19
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding (in shares)		140,258
Weighted average remaining contractual life of options outstanding		9 years 5 months 12 days
Number of options exercisable (in shares)		1,086
26.43 - 64.19 | Minimum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares		$ 26.43
26.43 - 64.19 | Maximum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares		$ 69.48
26.43 - 95.12
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding (in shares)	274,404
Weighted average remaining contractual life of options outstanding	9 years 3 months 3 days
Number of options exercisable (in shares)	22,358
26.43 - 95.12 | Minimum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares	$ 26.43
26.43 - 95.12 | Maximum
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price range (in cad per share) | $ / shares	$ 95.12

Share-based compensation - DSUs

Share-based compensation - DSUs and RSUs granted (Details)	9 Months Ended
	Sep. 30, 2022 shares $ / shares
DSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of units - beginning of period (in shares)	59,654
Number of units granted (in shares)	25,372
Number of units - end of period (in shares)	85,026
DSUs | Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units granted (in cad per share) | $ / shares	$ 38.97
DSUs | Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units granted (in cad per share) | $ / shares	$ 86.93
RSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of units - beginning of period (in shares)	46,591
Number of units granted (in shares)	97,816
Number of units released (in shares)	(2,800)
Number of units forfeited (in shares)	(30,222)
Number of units - end of period (in shares)	111,385
Weighted average exercise price of units released (in cad per share) | $ / shares	$ 94.05
RSUs | Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units granted (in cad per share) | $ / shares	40.30
Weighted average exercise price of units forfeited (in cad per share) | $ / shares	86.38
RSUs | Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units granted (in cad per share) | $ / shares	54.26
Weighted average exercise price of units forfeited (in cad per share) | $ / shares	$ 94.05

Income (loss) per share (Detail

Income (loss) per share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings per share [line items]
Weighted average number of basic Common Shares (in shares)	33,044,250	32,834,833	33,024,887	32,809,397
Share options (in shares)	815,863	1,228,881	850,888	0
DSU's (in shares)	84,254	59,058	68,749	0
RSU's (in shares)	125,321	0	88,142	0
Weighted average number of diluted Common Shares (in shares)	34,069,688	34,122,772	34,032,666	32,809,397
Antidilutive securities (in shares)	0	0	15,991	0

Revenue and related balances -

Revenue and related balances - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 revenue_source
Revenue From Contracts With Customers [Abstract]
Number of sources of revenues	2

Revenue and related balances _2

Revenue and related balances - Schedule (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 36,966	$ 27,068	$ 103,957	$ 74,441
Subscription revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	34,279	25,057	95,323	68,476
Professional services
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 2,687	$ 2,011	$ 8,634	$ 5,965

Cost of revenue (Details)

Cost of revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Analysis of income and expense [abstract]
Employee salaries and benefits	$ 3,873	$ 3,615	$ 12,149	$ 9,567
Web hosting fees	1,329	939	3,589	2,482
Third party service fees	1,763	977	4,361	2,172
Other	175	152	572	478
Cost of revenue	$ 7,140	$ 5,683	$ 20,671	$ 14,699

Employee compensation (Details)

Employee compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of Analysis of Employee Benefits Expense [Line Items]
Total employee compensation	$ 22,954	$ 18,554	$ 67,543	$ 51,520
Cost of revenue
Disclosure of Analysis of Employee Benefits Expense [Line Items]
Total employee compensation	3,873	3,615	12,149	9,567
General and administrative
Disclosure of Analysis of Employee Benefits Expense [Line Items]
Total employee compensation	3,582	2,666	10,328	7,797
Sales and marketing
Disclosure of Analysis of Employee Benefits Expense [Line Items]
Total employee compensation	10,900	8,231	31,013	22,609
Research and development
Disclosure of Analysis of Employee Benefits Expense [Line Items]
Total employee compensation	$ 4,599	$ 4,042	$ 14,053	$ 11,547

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party [Abstract]
Salaries and benefits	$ 954	$ 916	$ 3,099	$ 2,824
Share-based compensation	425	486	2,106	1,110
Compensation expense	$ 1,379	$ 1,402	$ 5,205	$ 3,934

Segment information (Details)

Segment information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of geographical areas [line items]
Revenue	$ 36,966	$ 27,068	$ 103,957	$ 74,441
North America
Disclosure of geographical areas [line items]
Revenue	28,439	19,768	78,731	53,907
Rest of World
Disclosure of geographical areas [line items]
Revenue	$ 8,527	$ 7,300	$ 25,226	$ 20,534