Docebo Stock And 2 Canadian AI Stocks To Watch

Global authorities are ramping up calls for tighter AI rules after an OpenAI agent quietly breached an Australian health website, which has sharpened the focus on who controls powerful models and infrastructure. That scrutiny has pulled attention to Canadian companies building the chips, software and cloud plumbing that power tools like ChatGPT. This article highlights three Canadian AI stocks from our screener that merit a closer look.

The three Canadian stocks below are only a small sample from this undervalued AI theme, and the full screen surfaced 0 more businesses tied into the ChatGPT and enterprise AI buildout that are not covered here. To review that full list, identify potential opportunities by segment, and analyze which ones fit your own conviction, go straight to the Undervalued Artificial Intelligence/ AI Stocks screener.

Docebo (TSX:DCBO)

Docebo is a Toronto based education software provider that plugs directly into the AI learning theme through Harmony Search and other AI tools woven into its cloud learning platform.

Docebo generates about $258.9 million from educational software worldwide and has a market value of roughly CA$804.3 million, with AI powered capabilities embedded across its learning suite rather than as a separate revenue stream.

For investors focused on how AI is reshaping corporate training, Docebo offers a pure software play where AI is built into the workflow rather than sitting on the side.

Rapid adoption of AI-driven features such as Harmony and Creati is positioning Docebo as an innovation leader, enabling enhanced personalization, automation, and productivity for customers. This in turn supports long-term customer retention, potential upsell opportunities, and the possibility of gross margin expansion.

What ultimately matters is how one less visible pressure on its economics shifts the balance between that product momentum and future profitability.

That pressure point is exactly what the full narrative for Docebo unpacks, including how Docebo’s AI push, contract mix, and cost base could decouple product strength from future returns.

Thinkific Labs (TSX:THNC)

Thinkific Labs runs a cloud-based learning commerce platform that uses embedded AI tools to help creators build courses, communities, and content, generating about $75 million from this single line of business and carrying a market value near CA$84 million.

For investors tracking how AI is seeping into everyday software, Thinkific Labs pushes that theme straight into online learning and course monetization.

The company is executing a strategic move upmarket, targeting larger businesses that require scalable online education and commerce solutions. This shift is expected to drive higher ARPU, increase enterprise contract sizes, and improve revenue growth as the business mix evolves.

The real swing factor is whether the push toward larger AI-enabled customers translates into the margin profile management is aiming for.

That margin question is exactly what the full narrative for Thinkific Labs unpacks, showing how Thinkific Labs' shift upmarket and AI tools could accelerate or stall its long term earnings power.

NowVertical Group (TSXV:NOW)

NowVertical Group runs big data and analytics operations that plug directly into the AI theme through artificial intelligence, data science and MLOps services that support predictive models and recommendation engines. The business generates about $38 million from operations and has a market value near CA$11 million.

NowVertical Group links tightly into the ChatGPT and broader AI shift through its NOW SnowGraph data products and MLOps work that keep predictive models and recommendation engines running. The stock screens as deeply discounted for an AI focused operator, and the key consideration is how one unresolved pressure on profitability and funding costs eventually affects margins.

That funding squeeze and profitability gap is exactly what the 3 key rewards and 1 important major warning sign hints at, so you can see where pressure and upside may really sit.

Seeking Fresh Alternatives Beyond Canadian AI

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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