The Toronto-based firm, which specializes in workplace learning software, will acquire shares for cancellation at $20.40 each. Financing for the bid relies on $10 million in existing cash and a $60 million draw from a recently expanded $150 million credit facility. Major shareholder Intercap, currently holding a 64% stake, intends to participate in the offer.

Preliminary figures for the quarter ending in June show revenue between $68.3 million and $68.5 million, marking a 12.5% to 13% increase over the previous year. This performance comfortably beat analyst estimates of $65.3 million. Adjusted EBITDA is projected to land between $10.9 million and $11.1 million.

Looking toward the remainder of the year, Docebo raised its outlook, forecasting full-year revenue between $274.5 million and $276.5 million. The company remains focused on reinvestment, noting that the buyback will not impede its ability to pursue future acquisitions. Official financial results are slated for release on August 7.