06:30 AM EST, 11/08/2024 (MT Newswires) -- Docebo ( DCBO ) , a learning platform provider with a foundation in artificial intelligence, on Friday reported improved adjusted earnings for the third quarter, largely on higher subscription revenue, while it raised its 2024 financial guidance.

Adjusted net income rose to US$8.3 million, or $0.27 per share, compared with $5 million, $0.15 per share for the comparative period last year.

Total revenue advanced 19% to $55.4 million. Subscription revenue, which accounted for about 95% of the total, climbed 21% to $52.6 million.

On outlook, Docebo ( DCBO ) provided financial guidance for the three months to Dec. 31 as follows: Total revenue between $56 million and $56.2 million and Adjusted EBITDA as a percentage of total revenue between 16.5% to 16.7%. Management expects subscription revenue to grow about two percentage points higher than overall company revenue while professional services revenue to be down sequentially from Q3.

For the full year, the company sees total revenue growth of approximately 20% and adjusted ebitda as a percentage of total revenue of approximately 16%.

"We surpassed our Q3 targets in both revenue and profitability, showcasing our continued leadership in automating learning outcomes for our customers," said Alessio Artuffo, president and CEO.