to Docebo's Learning Suite Investor Webinar. 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 the forward-looking statements, please refer to Docebo's public filings, which are available on SEDAR and EDGAR. Now, I'd like to turn the call over to Docebo's CEO, Claudio Erba. Hi, good morning, everyone. Thanks for joining us on this call. With me today, there is Alessio, our newly appointed President and CRO, and Ian Kidson, which you both know. When we launched the Docebo Learning Suite last month, it was a moment that was here in the making. Our vision for Docebo has always been centered around solving enterprise learning challenges through technology. This journey began with the LMS, and we are now going to cover multiple points across the entire learning life cycle. The format for today is to play a short video that gives you an overview of the product suite, along with a demonstration of some of the product capabilities. Some of these products are now available like Docebo Shape, Docebo Content, and Docebo Learning Impact. Some are upcoming releases like Docebo Flow, Docebo Content Hub, and Docebo Learning Analytics, as you see launching in Docebo. After the video, we will take a Q&A from the audience. If any of you have trouble watching this video due to technical issues, we did post in advance of this meeting on our investor relations site and sent a link to all of the people that registered. Prior to start, I want to say that I've got the idea of showing these products. When I read something about Warren Buffett that says, "I'm not buying anything if I cannot visit the company and touch what they sell," and that's what I really want. I want you to touch and feel what we sell. We want to make you confident on the product that we build because we are a product-driven company. So now that I know that Dennis hates me because I went out of script, we can start. Hi, everyone. My name is Claudio, Docebo CEO and Founder. We are here today to show you what is our vision for the future of online learning. We are transitioning our business model from a single learning product, which is the Docebo Learning Management System, to a multiple suite of products. We have built several technologies, and now Docebo can be considered a one-stop shop for the online learning market. Lindsey, she's our Head of Product Marketing, and Ines, Head of Engineering, will provide a demo in order to clarify our vision on how we are approaching the future years. As Claudio mentioned, our vision for the future is to be able to provide organizations with a single solution to address many enterprise learning needs. We're working hard to do just that, starting with a content creation tool. Enter Docebo Shape, an AI-based content creation tool that helps you build multilingual social learning content pills. Shape lets you leverage the sources of knowledge you're already using today, like links, documents, even free text, and uses its powerful AI algorithms to analyze context, concepts, and topics, all in order to create an incredible bite-sized, engaging learning pill. Not only that, Shape then lets you translate that same learning pill into a number of languages, all with a single click of a button. And the best thing is, Shape's easy-to-use interface means you can start pumping out engaging content faster than ever before, meaning no more long delays for you to get your message out. As we introduce new products to solve different challenges across the enterprise learning cycle, we'll continue to focus on our flagship product, our LMS. The Docebo Learn LMS is our cloud-based learning platform that delivers online personalized learning experiences and full content learning paths, from formal training to social learning to multiple internal, external, or blended audiences, with a powerful configuration engine that lets organizations configure the LMS to meet their requirements. As part of that vision, our goal is to reinvent delivery by moving learning outside of the LMS so our customers can weave learning directly into the flow of work. To the Docebo Flow. With Docebo Flow, you can embed learning right into the flow of work. It means your audience doesn't have to go somewhere else to learn. They can snack on learning content right from where they are, eliminating interruptions and improving relevancy. Here's how it works. You build the logic of your learning content inside your Learn LMS. Docebo exposes an embed code, and then you drop that embed code into other software. As long as your tech stack allows for embedding with Docebo Flow, it can work. Once applied, Flow will highlight targeted learning in the form of an interactive pop-up, where the right materials are surfaced at the right time to the right audience. This means your learners won't have to stop what they're doing to try and find supportive learning elsewhere. Docebo Flow is learning on the go in the flow of your work. It gives you the content you need at the time you need it within the context of where you're working. Okay, so we give customers the tools to deliver training and create and manage content, but they need a way to measure that engagement and understand the effectiveness of their learning programs. Available now as the Learning Suite is Learning Impact, which enables companies to validate the investment in learning by proving the impact of their training programs on their people. Through the Docebo Learning Impact tool, you can use automated workflows to create evaluation moments post-program that cover things from general reviews and initial reactions all the way down to behavioral commitments, and analyze those commitments over time and across a number of stakeholders in different evaluation moments. Docebo Learning Impact will enable you to receive the data you need to start your journey towards real learning effectiveness. The real superpower, though, is that DLI will automatically generate highly visual reports that consume and analyze all this information for you. The report provides you with not only an in-depth analysis of the success of the program, but also contextualized feedback by benchmarking your success against over 5 million other submissions made through DLI, giving you not only the validation that what you're doing is working, but also that it is just as good or better than what has been done all over the world. Content is a big part of the enterprise learning life cycle. Our customers need a centralized tool that lets them update, localize, and version content without needing to go into every single delivery system and repeat the same task over and over again. We're exploring how to solve this challenge in the future with the Docebo Content Hub, a cloud-based learning content management system. Docebo Content Hub is here to act as a single source of truth, allowing you to store and organize your learning in a simple and effective manner. Through its powerful synchronization and version control engine, you no longer have to worry about who has access to the latest version of important learning. The DCH keeps track of all of that for you and automatically synchronizes any updates you make over time so you won't have to. But even more impressive is DCH's language management capabilities. Through its intelligent algorithm, the DCH will not only maintain all different language versions of the same learning under a single file, it will automatically surface the right language version directly to the end user based on their preferences, meaning you may see this in Italian and I'll see it in Japanese, all from the same learning program, saving you the multiple hours you're spending today on creating and managing many versions of the same program in different languages. To save our customers even more time, we have Docebo Content, our library of 60,000 high-quality off-the-shelf courses that cover multiple topics and use cases and can be delivered in multiple languages. So far, we've addressed content creation and management, delivering training and measuring impact. But our vision for the learning suite of the future also addresses analytics. The intent behind Docebo Learning Analytics is to empower organizations to understand the results their learning programs are driving for their business, not just their learners, with actionable data and insights. As a first of its kind with learning at heart, Docebo Learning Analytics combines a multitude of powerful algorithms and logics that focus on learning metrics and that analyze data from a number of sources and deliver it through incredible visualized dashboards. These dashboards, which are configurable to your needs, bring to life the connection and impact between your learning data and key business metrics pulled directly from other business tools and systems you're using today. These algorithms take you to the next level of calculating the impact of what learning development is doing, entering those results into meaningful, measurable, and actionable data points. Our vision for the Learning Suite will transform the market and improve our customers' lives for years to come. With Docebo Learning Suite, enterprises around the world can tackle any learning challenge and create a true learning culture. We look forward to bringing this vision for learning to life. This is very cool. So we'll now take questions from the audience. Analysts can ask a question by clicking the raise hand button in your Zoom chat window. We will unmute your line to allow you to ask your question. For investors in the audience, we also will take your questions time permitting, and we ask you to please submit those questions by using the Q&A feature in Zoom. So our first question is from Robert Young at Canaccord Genuity. Please go ahead, Rob. Good morning. Can you hear me? Okay, so first question. You had a lot of luck in the extended enterprise products. And so are some of these products, if you could talk about how they're suited to certain use cases when you're looking at an internal training tool versus an external training tool, looking at customers and partners and such, do some of these products lend themselves more to solving challenges for one or the other or both? If you could talk about that, that would be helpful. Hi, it's Claudio Erba. I will try to go through one by one about the main products while also touching a little bit of Docebo Flow, which for us is a model, is not the product itself. About Shape. Shape can be used to speed up the production of content both for internal and external. It's very agnostic as use case. In terms of the LMS, we are already successful. For the Docebo Learning Impact, I think you need to measure the impact of the learning both from the internal and the external use cases, maybe with different nuances. I mean, for the internal, it is the impact on your career. For the external, maybe how beneficial it is for your business, the fact that your supplier is training your workforce. For the Docebo Learning Analytics, I mean, this works very well internally, but externally, it probably expresses more of the potential because you needed to. We have the capability to cross internal and external data. So imagine you have to train your partners, and then you can connect your deal flow from Salesforce, from your partner to the training you have delivered. About the Docebo Flow, and I hope I'm not missing anything in terms of products, the use cases that have been asked the most are embedding inside other software, and partner portal is one of these use cases. So absolutely works very well into an external training environment, as it can work inside your ERP or inside your CRM for internal training. So I think that all of them can be used also in the external use cases. Okay. And then second question for me would be Docebo Flow as it relates to your OEM partner strategy. Clearly, if a partner is very unwilling to allow its users to exit their portal to go and use a learning platform, if you can embed right into the flow of their work as they're doing it, maybe have you talked to any of your OEM partners about how they feel about this or maybe prospects talk about the OEM strategy as it relates to the flow? I need to tell you the truth. This idea came from David Austin. One day he phoned to me and said, "Claud, we really need a model that follows me and follows the learner, and then please build it," and then I see the David Austin idea, so you are completely right that this product is another way to train external audience with the potential to train also internal audience because it's not only an OEM. If I needed to reach my people that are using Salesforce or are using some other tool and having an AI algorithm that reads the web page, understands the context, and sends me the proper content for the specific page, you can imagine this is a game changer. Okay, that's great color. Maybe last question before I let it go. I see over your shoulder you've got an Oculus. I was wondering if that was an intentional product factor there or not, and then I'll pass the line and let other people ask questions. First of all, Oculus hurts my neck. I mean, it's too heavy and I'm too light to handle it. But I think that Oculus is something that we need to explore. As we are curious about every technology and I'm a product guy, I need to start imagining what the future will be in five years. And also, if you think about Oculus, it's both a collaboration and a real-time system for the classroom. And there are two or three virtual meeting rooms that I'm testing. They are not yet perfect, but I mean, why not experimenting? I like it. And I'm playing zombie games, which for now are performing better than the virtual classroom tools, by the way. Thanks for taking the question. Hey, Sukaran. Looks like you are muted. Sukaran, now you are muted, so you can go. Ian, Ale, do you hear me? And you cannot hear me. I don't hear. You cannot hear Sukaran. Is it correct? That's correct. I hear you guys now. Yep. Okay. I hear you. Thank you very much. I hear you, Sukaran. Good morning, guys, and thanks for taking my questions. The first question for me was just really more on the offerings and kind of the go-to-market plans for these. How will these be? What's the plan to drive awareness and adoption of these offerings within your existing base? What's kind of the sales and support process for this? And is there potentially a sell-through option for your customers to kind of proactively enable these offerings by themselves? Yeah. Ale, are you taking it? I'm happy to. Sukaran, great question. Broad in nature. I'll try my best to give you the most important elements to how we think of this. First of all, today, the video that you guys saw represents a vision for the future. It's a journey. It's not a deliver everything tomorrow. For me, why this matters? It matters for our customers, but also for our org readiness. We are very focused on executing on this properly. Executing properly means many things. It means enabling the commercial workforce with the right information at the right time, not create an overfeeding effect of product altogether because the human brain can only consume so much. There is org readiness. Order readiness means designing the organization to have the right level of knowledge and specialization across the company to execute on this properly according to our framework. So a couple of bite-sized information on that. You will appreciate that launching a net new product like we've done with Docebo Learning Impact, which is really the only one currently being actively publicly sold of the vision that we presented, in addition, of course, to our LMS. We will create overlays of go-to-market from a sales and product marketing motion standpoint, which, combined with our product management organization that is highly specialized, creates sort of a pod structure that creates awareness internally about the knowledge of the products and the power of the products, but then creates a layer of execution of specialization for the outside. We will do the same thing, overlay the knowledge specialized on the execution side on the PS and support front. Our goal, again, when I think proper execution is to have specialists that understand the buyer personas that work to continuously improve the product because they cannot be perfect from day one. They need to be continuously evolved, and then moving into sales motion, implementation, support, and renewal, we have people that actually understand the product and act as experts. That's how we're thinking of it and how we're executing it. Good. No, that's good color. Thank you. The next question I had was, is the plan really to make your offerings here and the roadmap of offerings available as a full suite to your OEM partners? Just kind of curious how that will be packaged and delivered to your partners. And if the economics would be kind of similar to core LMS, or are there kind of variances depending on the offerings? Yeah. Look, I'll use an analogy to respond to this question, which is on a slightly different front but follows the same underlying logic. When you think about partners in general, for example, in the context of outsourcing implementation services to a partner, what do you do as a first step? You always make sure that your implementation in-house is very strong, that you have a strong method so that you can go out to partners and say, "Here's how it's done." It is not very dissimilar when you think of products. What we want to do is to make sure that the products that we are going to continue to build, evolve, and release to market, that we are ultimate experts from go-to-marketing it, right? Pitching, scripting, cadences, communication, collateral, all the readiness that needs to be done onto execution. Once we feel comfortable that we can be an awesome partner for our partners, then it's the time for them to absorb it, but going to partners and giving them a technology that we're still mastering ourselves is not going to serve them well, so we're going to do it. They are excited that we will release to them more technologies, but we'll do it properly. Okay. Okay. Great. Any questions? That's it for me. I'll pass it along. Thank you. Thank you. So our next question is going to be from Martin Toner at ATB Capital Markets. Go ahead, Martin. Hey, guys. You got me? Yeah. Yep. Awesome. So I'm going to ask a quick question about scale. So when SaaS solutions have short implementation times, almost self-serve, and they layer on a buyer or a marketing component, we've seen these solutions really take off. Do you guys see that being possible for some of these solutions? And is the go-to-market strategy going to kind of change here? Martin, the more we move upmarket and the more we approach complex use cases, the more you have to work with the customer to make the solution successful. There are some products in this suite which are easy to use and easy to adopt. Docebo Shape. Docebo Shape is easy to use because you can start tomorrow. I mean, you can now go to docebo.com website and activate your own Docebo Shape and get your learning object done in like five minutes. Starting from now, in five minutes, you will get your first learning object done. Different is when you have to build an AI dashboard that crosses data that gathers data from other sources. So, I mean, and so our customers are not looking for simplicity in terms of simple software. This has been proven because in North America, Docebo is a substitution market vendor where the customer is looking for an easy tool to adopt and deploy very quickly. But after one year, they switch to Docebo because they realize that their need of training is way complex. Imagine a 2,000-employee company needs to train three different departments with three different enablement teams plus an external use case. So I'm not sure that all the products will be a plug-and-play product. I'm sure that the journey that we have built from the content production to the data analytics is very consistent, very consistent with our vision and very consistent with what our customers need. I don't know if I answered your question, actually. Yeah. I know very well. Thanks very much. Yeah. It sounds like Shape has the potential to kind of add a bit of a viral element to your marketing. Yeah. And you know what we were playing or speculating in the organization is like, "Are we sure that Shape will cover only training or can be used by Financial Times to create a video about the specific article they have published? Why not?" I mean, the AI behind it runs a text or a similar or an audio and creates an output. So yes, in terms of virality, Docebo Shape is the more viral one and probably the more fun to use. Cool. Yeah. I want us to start using it here. Please, go ahead. What can you tell us about pricing for this suite and some of these new products? Alessio? Look, I'll be candid. I think Ian and I will give you a couple of different views on this, but we certainly expected the questions around pricing. We also appreciate that we have some friendly competitors on the line. You will bear with us that we're going to be thoughtful in the way we address the question while at the same time wanting to give you some value because we want to respect the question. When we think of pricing, we want to make sure that as we continue to scale, our pricing remains consistent across the module and reflects the value of a given product on the basis of primarily two things. If I am pricing Shape or Learning Analytics or content hub, the way we think of it primarily is recognize value. What is the value of the product and what value will that product yield in the context of an ideal buyer that adopts it? So we create hypotheses or prototype buyers. We think of use cases. We think of scale and usage, and we think of the benefits that we'll get out of it. And we use that input to form a certain hypothesis. Then we look at the market because as some products are very, very disruptive, as in they don't exist, i.e., Shape is very difficult to compare to existing products in the market, but others may add a parallel. And so we think, "Okay. What is the market price of those products?" And we have to just consider that, right? I'm not saying that we're going to price like the market, but we have to be informed. Then finally, we think of how and what the pricing our customers can sustain in the context of that product, keeping the pricing as simple as we can. So is it going to be on active users? What we can, we're going to try and maintain that logic. Will that logic be applicable to each and every single product? We'll see. We're going to try, but it has to be logical in the context of the product itself. So I hope I've given you the elements. I haven't given you any numbers. I'm going to pass that kindly to Ian, but I hope the logic at least is helpful. Super. Yeah. And Martin, in his normal way, Alessio, I thought did a very good job at describing our philosophical approach to your question. As you know, we don't really disclose pricing on a per-module or per-product basis. What I can say, though, is, and this has been fundamental in terms of our approach from day one, all of these products are going to be sold so that they are consistent with a SaaS view of the world. And so these products will be included in our ARR on a go-forward basis. They will not be sold on a per-use basis. Super. Okay. That's great. Thanks. That's it for me. I'll pass the line. Thank you. So our next question is from Daniel Chan at TD Securities. Please go ahead, Dan. Hello, Daniel. Hey, Dan. We currently can't hear you, Dan, just FYI. Can you hear me? Yeah. Now we can. Oh, perfect. Just to expand on that last question, maybe can you, instead of talking about price, can you talk about the potential ARPU expansion opportunity from current levels given the new products? Maybe that's a different way to ask it. That sounds an awful lot, Dan. It's the same question in a different costume. Yeah. I guess I'm not asking for exact numbers, but can you give a percentage of possibility increase from current levels? Yeah. Look, the short answer is no, not yet. And I'm not sure we ever will be in a position where we want to respond to that. But the very specific reason that the answer is no, not yet today is we have yet to finally price any of these products other than the Learning Impact one, which we started selling April 1st. Look, we are excited about all of these. Not all of them are going to be applicable to every particular customer or every particular use case, but they will be sold in the context of, as Alessio said, utility, which very often will imply an association with a user number that the LMS is based on. If you wanted me to guess, and I know you really, really do, if you wanted me to guess, I would guess that each product will be somewhere in the order of 5%-20%, maybe more, depending upon the product and the use case. And it could be as much as 30% of the base LMS price. But I really want to underscore none of that has been finally determined, and we will work our way through it. Yeah. Yeah. I want to add a couple of points here. First of all, creating this suite and adding more products to sell to our customer base, actual customer and future customer, is a way to raise the bar about the ARPU or ACV because it's more difficult to double the ACV, selling only the LMS and going up and up and up instead of adding new products. But there is one point, one caveat that we need to discuss, which is this product has been built to run alone and to be attached to other LMSs. That means that Docebo BI maybe can be deployed to a customer that owns another LMS, like Docebo Learning Impact is already running under other LMSs that were prior integration of the Formetris, which was the company we acquired. So there will be also scenarios where you will have an ARPU which is lower because we are selling only one module and not on top as a cross-sell and upsell opportunity on the LMS. But this is increasing the total addressable market, and we can approach also a market that from the LMS perspective is already penetrated by a competitor, but with other modules is not. That makes a lot of sense. Thanks for all that color. Can you comment on how many of your customers currently are taking on multiple products at the moment? Do you want me to take that, Alessio? Sure. Thank you. Sure. So, Dan, I think it's fair to say, well, let me back up half a step. When you refer to a product, then historically, we view Docebo today, or at least pre-April 1st, as in effect a single-product company that you had the capability to attach modules to an existing LMS. These, in our mind, are the first new products that we've introduced. So, specifically answering your question, it's very small. It's not zero, but it's very small because we started selling these products as of April 1st this year. And only one of them has been taken to market at this point, and that's the Learning Impact market or product, rather. Thank you. Maybe one incremental towards Ian's says. In the context of, when you think product versus module, there's a difference there. But we've observed that when we launched Coach and Share, Discover Coach and Share back in, I believe, 2016, Claudio, help me with that. I believe that's the right date to use. Yeah. We've seen a constant trend of increase of attachment rate quarter-over-quarter, year-over-year. And the capability of Coach and Share, along with Extended Enterprise and Salesforce, are the most attached modules historically in the company. But again, it's important to differentiate the capability of a module provided, which necessitates the LMS to exist, versus what a product does that offers a capability that can be stood up by itself or in combination with our flagship LMS. That is why we look at the attachment rates of modules as a guiding data point, but not in the same way of attaching products. Okay. Yeah. Thanks for that clarification. I was specifically curious about the module additions, and it sounds like the attach rate is increasing, and Alessio, final one from me. You provided some color earlier about some of the organizational changes you made across the company. Can we drill into the sales team structure a little bit more, and can you talk about some of the specific changes you're making to the sales team, maybe around not just the organization, but maybe even the incentive compensation to help drive some of these sales? Thanks. Sure. Dan, for what I can, and there's quite a bit in motion as part of our plan, and so I can't cover things that are either currently in motion or will be in motion because I can't share with you something that the employees themselves haven't experienced quite yet, but we have plans to, like I said before, Shape the organization in order to sustain the growth that's going to be brought by incorporating these products in our go-to-market motion. What can I say? That we think that ownership is going to be critical at all levels of the organization, and when I mentioned before creating overlays in sales and not only, it's for the purpose of making sure there is ownership of the expected outcomes out of each and every product, so when you have somebody that owns something, that usually happens. When nobody owns something, it hardly ever happens. And on the basis of that, we're making sure that our comp framework incentivizes, to an extent, the commercialization of the different capabilities. Now, I don't know that I feel comfortable, Dan, entering into the conversation of, are we splitting sales quotas? Are we not? Are we doing split incentive programs? You can imagine that we've been thinking about all of this and that we're being very thoughtful about something that is not too disruptive for our sales force. I can tell you maybe one thing. When we thought multi-product and we think multi-product because this is just the beginning of a journey, I said it before, we looked not only in-house, but we looked at, okay, how did Salesforce and the other leaders of the world execute on it when they were, in fact, in a comparable place to ours? What decisions did they think about, and how did they go about it? And so I'm always a fan for not trying to reinvent the wheel at all costs, but also use the experience of the leaders that have succeeded at doing something and learning from them. So a lot of those decisions are going to be consistent with what we've seen across the best-in-class companies. Thank you. Thank you. Our next question is from Gavin Fairweather from Cormark Securities. Gavin, can you hear us? Yes. Can you hear me? Yep. Okay. Great. Maybe just following on the product versus module conversation. I'd imagine that maybe it's a bit more difficult to attach a new product to a new logo. So do you view this as being more of an upsell opportunity versus trying to educate a new logo coming into your sales funnel on new products? For sure, yes. We know how to upsell and cross-sell. It's our comfort zone. We have over 2,000 customers and counting. So absolutely, it would be more easy to entertain conversations with customers. But from the architecture perspective, the product can work independently. They are designed to work independently. So it's another opportunity that when we will be ready, we will start pursuing. Perfect. Maybe one for Alessio. Do you see the channel taking a big role with any of these products, maybe if you're selling them as a standalone? Just curious. Our channel strategy, we've been quite clear, is very, very OEM-focused. That's where we put many of our efforts. If by channel, you mean subscription licenses, sales on behalf of partners, where partners are defined as OEMs? I think we covered that before. I said, "We want that. They absolutely are asking us to provide these technologies. We will do that at the right time." Now, are there going to be other VARs that are going to be interested in commercializing these? Sure. But again, we're very focused on strategic alliances and strategic partners such as OEMs primarily. There is no doubt that in the future, as we continue to add capability and scale also to our professional services organization, we will have in mind the right organizations to implement some of these products. And that can create an interesting flywheel to ensure we have coverage in professional services as well if we implement all of these. But we're very focused on our direct and upsell strategy. The channel for this product will follow. Okay. And then just lastly for me, I mean, you touched on how some of the functionality within your suite does have some competition in the market. Maybe you could just expand. Does a lot of that competition look like for Formetris in terms of it being a point solution that's addressing a use case versus something that's being offered by an LMS vendor? Yeah. That's a great question. Well, I think it's a great question because one of the, and Claudio, who is our mastermind product strategist and visionary, I would love some color from you on this. But when we thought about suite, we thought about suite or the Docebo suite in the context of solving for a lingering problem in the market. The market is very fragmented. You're correct. It is very much point solutions based. And we have not seen many companies, in fact, if nobody at all, that has taken a very intentional learning-only strategy and scaled that strategy to solve the entire life cycle of learning the problems that an enterprise organization has. Now, don't get me wrong. In this call, there's probably a couple of competitors that think they solve multiple problems, and I think they do some. I don't believe that currently in the market there is somebody poised to solve the end-to-end life cycle needs of an enterprise in the learning technology space. We have built and are going to be building technologies to be that player, and that will differentiate ourselves from anybody else. Great. Thanks so much, guys. Thank you. So our next question is from Stephanie Price at CIBC. Stephanie, please go ahead. Hi. Can you hear me? Yep. Perfect. I was curious about how you think about cross-selling into those existing customer bases and if you're building out any account managers for existing customers or how you think about cross-selling into that base? We think about it in the context of, number one, building a customer base that is healthy, happy, and sings our praises. It is only by doing that that we can have success in whatever initiatives we will propose to them in the future. That is table stakes, and the company focus, the corporate focus, to have customers that are not just satisfied, but happy and proud of working with us. Then it's execution. We already have an investment into account management and customer experience. When an enterprise joins Docebo as a customer, they get coupled with professionals that are both commercial professionals and adoption professionals. So we couple you with an expert and somebody that will represent value or sales. And so for us, the design is already scalable in itself. What we need to execute on is ensuring we provide the right level of knowledge and specialization at pre-sales level as well for all these capabilities. And don't get me wrong. It's a ton of work. And we're going to work very hard to empower our sales team to understand the value of these products. The design is ready. The work to be done now is all execution. Good color. Thanks. And then also wondering how we should think about the timing for the rollout of the full suite. I don't know exactly what we said and we disclosed, but it's going to be progressive, and it's going to take, like I said, a journey multiple times, several months, leading into late 2021 over time to release our products, if not early 2022, but Ian, you may jump in here because I'm not entirely sure what commitments we've made publicly in terms of timeline, but just to be clear, we're excited, and we want to launch the products when we are sure that we will succeed. Right. Stephanie, all of these products (and we've waited to get to this point so that we could say this), all of these products, we believe, are market-ready, and we are almost more focused on being organizationally ready at this point as opposed to product-ready, and so we're doing what we need to do to ensure that the rollout and the introduction is successful, both from our customer perspective, obviously, as well as from our perspective. As Alessio said, what is definitive is all of these products are done and ready to go, so these are not something that we hope to do next year. We're confident today (of course, things can change) that we'll be done taking all of them to market in 2021, and that's our current goal. We'll feel our way through the year as we go. But we're reasonably comfortable we'll have them all in the market by the end of the year. Thanks. That's great color. Great. Thank you. I don't think there's any further questions from the analysts. We're going to take a few questions in the remaining eight minutes from the audience. First question is if you can just talk about how Docebo is planning to do better to differentiate themselves from other learning platforms like Moodle. Yeah. So, Moodle, first of all, Moodle is another world. It's an open-source solution that was competing with us probably prior that Alessio joined Docebo, so prior to 2010. I think that Moodle still has some space in the industry, but we don't find them in competitions, especially in North America. I recall some bid in Saudi Arabia or in the Middle East where Moodle was competing in some government bid, or I don't know. So, technologically speaking, Moodle is. I installed Moodle the first time and also other learning or content management systems. And I remember that was easy. You downloaded the file, you uploaded the database, and you uploaded the file in web server. And the platform was ready to roll, literally. I think in five minutes, you can deploy your own Moodle. Now, I mean, you cannot upload PHP files in the database and connect it to a password and run a system because how to connect AI algorithms to create a video transcript or to tag the video? It's not a file upload. It's a more complex process. How can you distribute through a CDN worldwide content? I mean, there are many, many, many new technologies that an open-source software is probably difficult to manage just because of the complexity of the environment. Okay. Next question is, what kind of impact do you think these products have to your Net Adds? They've been accelerating strongly independent of the strategy. So does it suggest that you can accelerate this meaningfully further? So for me, yes. On the short term, we can stay in our comfort zone, enjoy our growth, which is probably higher than the industry figure, and be happy. But we are here, first of all, to make innovation. Second, to provide to our customers what they want or what they think they will benefit in the future. And we are here to build a multi-year, multi-trillion business. And I don't think we can arrive to a multi-trillion business only with the LMS. The fact that the customer needed to put together not homogeneous, not organic solutions, shopping from different vendors was, for us, a problem. For our customers, it was a problem. So we think that on the long run, it's a nice strategic move. And if you think from the differentiation standpoint, our competitor (no one of them, from what we know) is going on these directions. Some are investing in content. Some are acquiring other LMS vendors and trying to aggregate the industry. But I think that on the long run, this is the Docebo way to continue to lead the industry. Excluding your OEM channel, how much of your end market customers have been asking you for these tools? How much pull from these customers do you see? I have three different answers for three different models: Shape, Learning Analytics, and Docebo Impact. Shape was an idea, not coming from me as usual because there is a company in Europe—what's the name?—Prezi that a lot of years ago wanted to create a human touchless PowerPoint presentation thanks to AI. AI was too early for them. But I said, "What if I can copy Prezi doing deep learning?" And the AI was there at the moment. I see the idea to these guys. So not my idea, but trying to create an innovation to pitch to the customer, and then they will realize it's a lead. About Docebo Impact, if you remember, if you all guys are in the learning industry, we always have spoken about ROI of learning. But the ROI cannot be measured and deducted or inferred through quantitative data only. So we needed to answer the fact that the industry wanted ROI, providing a tool that measures qualitative data. So in this case, the customer wanted something. We We provided the tool. The Learning Analytics came from frustration that our customers have. They cannot access an enablement department easily to BI tool. And if they can access to BI tool, they do not have data scientists inside their specific team. So the fact is that the customer wanted a BI system. They continuously asked for customization in our reporting system. But our reporting system is a reporting that just reads the online learning tracking data. It's not going after. It's a reporting. It's not a BI. So we built a BI in order to overcome the fact that our customers do not have access to existing tools which were not specialized on learning, and they don't have the capability to build dashboards on their own. We provide an easy pre-built dashboard that they can use easily. I think it's enough. Is it correct, Dennis? I'm clear. Just a clear. Just a general observation. Our company has a value, right? One of our values is impact, creating impact for our customers, and when we talk about some of these products, for example, Shape, we for sure take inputs from customers, but our job, we're the experts in this industry, our job is to innovate and provide them solutions that they may not be requesting right now in this very moment, but we believe there is a need for, so I think tools like products like Shape really represent the best that part of the value of our company. Great. Thanks, everybody. There's no further questions. I'll just turn it back to Claudio there when he says the closing remarks. Yeah. Thank you, everyone, for staying with us and listening to our ideas and the notebook, and I hope you had fun like we had fun building the suite. See you soon. I mean, soon is Thursday, I think. Thursday. That's right. Have a great day, everybody. Thank you for having us. Thank you, everyone.