Docebo And 2 Canadian AI Stocks To Watch

Higher global interest rates are putting pressure on many growth stories, yet demand for artificial intelligence infrastructure keeps attracting fresh capital. That tension creates a window in Canadian AI related stocks that still trade as if this new wave might fizzle. Investors watching this gap between caution and ongoing AI spending may find opportunity. This article highlights three undervalued Canadian AI plays from our screener.

The three Canadian AI stocks below are only a sample, and the full screen surfaced 0 more companies with equally compelling narratives that are not covered in this article. To identify and analyze your own highest conviction ideas directly, head straight into the Undervalued Artificial Intelligence/ AI Stocks screener.

Docebo (TSX:DCBO)

Overview: Docebo runs a cloud-based learning platform that uses tools like Harmony Search to bring AI powered search and personalization into corporate training.

Operations: The business generates about $258.9 million from educational software, with most sales in the United States at $174.0 million.

Market Cap: CA$808.0 million

Docebo sits at the intersection of corporate training and AI, using tools like Harmony Search to pull large language model style intelligence into everyday learning workflows.

"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 supports long-term customer retention, upsell opportunities, and gross margin expansion."

What happens if a single assumption about how much customers will ultimately pay for those AI extras shifts even slightly?

If that pricing power question matters to you, read the full narrative for Docebo to see how Docebo’s AI features, contracts, and risks all line up.

Thinkific Labs (TSX:THNC)

Overview: Thinkific Labs runs a cloud-based learning commerce platform that lets creators use AI tools to build, personalize, and sell online courses.

Operations: Thinkific Labs generates about $74.5 million from its cloud platform, with roughly $39.6 million from the United States and $10.4 million from Canada.

Market Cap: CA$146.0 million

Thinkific Labs matters for this AI screener because its course platform is being rebuilt around generative tools that help creators ship content faster and tailor learning journeys in ways that older education software simply cannot match.

"Deep integration of artificial intelligence into both customer-facing features and internal operations is accelerating product development and enabling personalized, data-driven learning experiences. This is supporting product differentiation and enhancing customer retention, which is positive for recurring revenue and net margins."

The open question is what happens to earnings power if one key assumption about how larger Plus customers scale their usage shifts.

If that usage swing is what you care about, read the full narrative for Thinkific Labs to see how Thinkific Labs could be accelerating far beyond headline metrics.

NowVertical Group (TSXV:NOW)

Overview: NowVertical Group builds big data and analytics solutions that use artificial intelligence, data science, and MLOps to power predictive, personalized decisions for enterprise clients.

Operations: The business generates about $38.2 million in revenue, primarily from Argentina at $14.1 million, Brazil at $8.7 million, and the United Kingdom at $8.5 million.

Market Cap: CA$15.2 million

NowVertical Group ties directly into the AI revolution through products like SnowGraph, MLOps, and customer lifetime value modeling. It trades at a P/S of about 0.3x while remaining unprofitable with highly volatile shares. Investors watching AI infrastructure and analytics may find this deep discount interesting, and the outlook may depend on how one unseen pressure on future margins resolves itself.

That margin squeeze question is exactly why readers are heading to the analysis report for NowVertical Group to see what current contracts and cash needs might really be signaling.

Seeking Fresh Alternatives Before They Fly

Markets move fast and the next breakout ideas rarely stay under the radar for long. Scan fresh momentum, filter the noise, and build your watchlist while it matters. Act now.

• Spot resilient cash generators early and track them through the list of solid balance sheet and fundamentals (7 results) before the crowd starts bidding up quality that is still quietly priced for doubt.
• Tap into income workhorses and stress test your yield targets with the 1 dividend fortresses while robust payouts and balance sheets are still being priced like ordinary distributions.
• Hunt for growth stories hiding in plain sight and benchmark them against the 9 high quality undiscovered gems before fresh buying pressure turns quiet accumulation into rising prices.

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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