Docebo Inc.

Good morning, everyone, and welcome to the Dachabu Inc. fourth quarter and year-end 2021 earnings call. All participants are currently in the lesson early mode. Following the presentation, we will open the line for a question and answer session for analysts. Instructions will be provided at that time for research analysts to ask questions. We ask that analysts please limit themselves to two questions and return the queue for any follow-up. I'd now like to turn the call over to Docebo's Vice President of Investor Relations, Mike McCarthy. Please go ahead, Mike.

Thank you, Operator. Before we begin, Docebo would like to remind listeners that certain information discussed today may be forward-looking in nature. Such forward-looking information reflects the company's current views with respect to future events. Any such information is subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected in the forward-looking statements. For more information on the risks, uncertainties, and assumptions relating to forward-looking statements, please refer to Docebo's public filings, which are available on CDAR and EDGAR. During the call, we will reference certain non-IFRS financial measures. Although we believe these measures provide useful supplemental information about our financial performance, they are not recognized measures and do not have standardized meanings under IFRS. Please see our MD&A for additional information regarding our non- IFRS financial measures, including reconciliations to the nearest IFRS measures. Please note that unless otherwise stated, all references to any financial figures are U.S. dollars. Now, I'd like to turn over the call to Docebo's CEO, Claudio Urba.

Ciao, everybody, and thank you for joining us on our 2021 year-end earning call. With me today is Alessio Tuffo, our president and CRO, as well as Sukaran Mehta. I'm happy to share that Sukaran, who has been an incredibly valuable leader at the table since prior to our TSX-ITO in 2019, has been promoted to CFO from Interim CFO. Congratulations, Sukaran. Before I begin my prepared remarks this morning, I wanted to first take a few moments to express our concern and support for the people of Ukraine. While our business presence in the Ukraine and Russia is extremely small, as a global company with a European heritage and roots, many Dochevians, including me, have deep ties to the people of the region. We have made a corporate donation and we are matching employees' donations to the International Committee for the Red Cross, which is helping people affected by the conflict and is supporting the work of the Ukrainian Red Cross. We will continue to support them where we are able. While we find ourselves in these volatile times, we understand the importance of continuing to deliver consistent operating results. And I think we successfully accomplished this in 2021. Revenue for the full year growth, 66%. A significant improvement from the also strong 52% growth in revenue we generated in 2020. A big reason for our success has been the horizontal nature of our platform, which is industry and content agnostic. We are winning new logos that is both employee and customer focused. and setting the stage for our land and expense strategy. We had record new logo performance, which included 169 net new customers, and the sales momentum we saw from enterprise customers in the third quarter continued during the quarters. At the same time, our traditional sweet spot of mid-sized enterprises and departmental wins continue to be a steady growth engine for us, accounting for more than half of our new logo business. Focused on setting the stage for our land and expense strategy. In Q4, we signed a new customer agreement with the global medical device company, Align Technologies. Align chose Decebo to provide external training for their orthodontics firm and also create customized learning experience for their internal teams. Dine Brands Global, the company behind iHope and Applebee's franchise, selected Decebo to train the team members across their restaurant chain. In the fourth quarter, we signed a new customer agreement with the NCAA to deliver a solution to scale its learning and development program for up to 40,000 athletes, coaches, and school administrators. Large implementation like this proved the scalability of our platform at the enterprise level, allowing us to serve some of the leading organizations in the sport world. In addition, To the strong new load of performance, we are seeing great success in our land and expense strategy. By leveraging our content offering, including the Chabot shape, we've expanded our relationship with BMW to train all departments and their manufacturing facility in Greensville, North Carolina. We are pleased to have expanded our agreement with United Nations Global Compact, the world's largest corporate sustainability initiative. This expanded agreement will drive the training for more than 30,000 of its members. We are also signing the new customer agreement with SolarEdge, a global leader in smart energy technology and developer of an intelligent inverter solution that changes the way solar power is harvested and managed. They will be using the table for both employees and customer training. In January, We signed a strategic partner with Pavilion, the world's leading private membership community for high-growth professionals. As part of our partnership, Docebo will provide to Pavilion a full Docebo suite of products to create, deliver, analyze, and measure the impact for its 7,000 members. In 2021, we introduced new products and modules as part of the Docebo Learning Suite. many of which were launched in the second half of the year. Some of these new products have exceeded expectations out of the gate, and with others, we are adjusting the formula. Those are the types of learning we expected, and we are pleased to see new products now starting to contribute nicely to our ACV groups. Our product innovations have also received great recognition this year from a number of independent third parties. We were ranked first in the category of Enterprise Corporate LMS and Leader Europe LMS on the G2 Crowd Winter Report, which is based on review from actual customers. We won nine Brandon Hall Group Excellence in Technology Awards, including Awards for the Learning Suite, Learn LMS, Chase, Learning Analytics, and Learning Impact, with six of the awards being gold. With the addition of Rudy Valdez, As our CEO last fall, we continue to strengthen our team in a way that more closely aligns our core product development and research and development work. In January, we announced the addition of a new chief product officer who had a change in personal circumstances and will not be joining us. Leadership of our product development will continue to be the joint responsibility of Ruby and our CTO and co-founder, Fabio Pirovano, and we will continue to invest in top talent to remain at the forefront of learning innovation. The general turnover in the labor market has presented us with challenges as well as opportunities, as we have been able to add seasoned sales and marketing professionals that will help elevate the next leg of our growth. North America was more than 70% of our sales in 2021 and grew more than 70% year over year. It is our largest market and continues to be our greatest source of growth. But we also see expansion opportunities for Decebo around the world that we intend to capture. In 2021, we established a new office in Germany, which is showing early traction. We believe Germany in particular can become one of our largest markets outside of the U.S. In January, we have also acquired SkillsLive in Australia as a table value-added reseller since 2018 that accelerates our time to market by immediately adding specialized talent and print infrastructure to address the APAC region. Lastly, I have talked about the importance of ASG on past conference calls. We hope to have our first ESG report published by the time we speak to you on our next earning call. That report will share some of the work we do to empower our people, maintain integrity for our stakeholders, manage our environmental footprint, and contribute to the community. Docebo has an opportunity to make the greatest impact as a corporate citizen to innovate and provide learning technology that helps other organizations achieve some of their own ESG objectives. This is work we already do for many of our customers, and we will provide additional color over time. With that, I will now pass the call to Sukaran to speak about the financial.