Docebo Inc.

Good morning everyone and welcome to the Docebo Inc. Q3 2022 earnings call. All participants are currently in a listen-only mode. We will open the line for a question and answer session for analysts following the presentation. 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 to the queue for any follow-ups. I would now like to turn the conference call over to Docebo's Vice President of Investor Relations, Mr. 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 related 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 in U.S. dollars. Now I'd like to turn the call over to Docebo's CEO and founder, Claudio Erba.

Hello, everybody, and thank you for joining us for our third quarter earning call. With me today is Alessio Artuffo, our president and COO, and Sukaran Mehta, our CFO. Docebo continues to execute well in an environment that is increasingly impacted by macroeconomic headwinds. Even in the face of those challenges, we delivered strong revenue growth and free cash flow. We are especially pleased to report the positive adjusted BDA that was ahead of schedule and surpassed consensus estimates. Adjusted for foreign exchange, we delivered an year-over-year growth in ARR of 44%. Consistent with what we saw last quarter, this cycle elongated in certain segments as global macroeconomic issues weighted on decision making. Grow remains a top priority for Decebo. What is also important for us is to continue to demonstrate operating leverage and drive profitability as a mean of unlocking value for our shareholders. This is consistent with Decebo's long-term journey, which is best characterized as one of balanced growth complemented by our strong balance sheet, world-class capital efficiency, and the large under-penetrated Total Addressable Market. While our competitors continue to offer legacy solutions within efficient businesses that are now in consolidation mode, we have a first-mover advantage that is driving organic growth and redefining how customers choose to implement Docebo's modern architecture. We see this as a time to push our strong competitive position in a disciplined patient. And we are concentrating on a few key areas as follows. One, lead by innovation and showcase how our solution address the need of the customer specific use case to achieve their business outcome. We are doing this quite effectively in areas such as customer education, franchisee, and quick service restaurant. double down on our enterprise segment where we continue to see large greenfield and external use case opportunities ahead. And finally, doing strategic and responsible hiring necessary to drive long-term growth objective in both R&D and phaser marketing. As some of you may have seen during our Inspire User Conference last month, Chris McAlp has joined the Cebo Fabio Pirovano, Chief Product Officer, as Senior Vice President. He brings with him a wealth of product design and strategy experience, joining us from Workday, where he was part of the product leadership team for Workday flagship core HCM products. And with Nina Simonsko and Ryan Brock, taking on senior leadership roles in sales and marketing, I am delighted to announce that we have expanded Alessio's role as our President's Chief Operating Officer. He will work even more closely with me to drive the operational efficiency and revenue growth necessary for the Chamber to achieve his ambitions. We also extend our thanks and appreciation to Rudi Valdez for his contribution and wish him well in his future pursuits. In closing, I want to emphasize that we remain growth-focused. Our commitment is to continue to deliver sustainable growth with steadily improving profitability. While the near-term outlook may become incrementally more challenging, our customer employees and shareholders can be assured that we will be proactive in making the adjustments necessary to achieve those objectives. and now I'll hand the call to Alessio.