SILICON SLOPES, Utah: Domo, Inc. (Nasdaq: DOMO) today announced results for its fiscal first quarter ended April 30, 2024.

Fiscal First Quarter Results

• Total revenue was $80.1 million, an increase of 1% year over year
• Subscription revenue was $72.1 million, an increase of 1% year over year
• Billings were $65.5 million, a decrease of 7% year over year
• Net cash provided by operating activities was $1.9 million
• GAAP operating margin decreased by 2 percentage points year over year
• Non-GAAP operating margin decreased by 7 percentage points year over year
• GAAP net loss was $26.0 million, and GAAP net loss per share was $0.69, based on 37.5 million weighted-average shares outstanding
• Non-GAAP net loss was $12.3 million, and non-GAAP net loss per share was $0.33, based on 37.5 million weighted-average shares outstanding
• Cash, cash equivalents, and restricted cash were $61.2 million as of April 30, 2024

“We’re hyper-focused on returning to growth, and feel optimistic about early signals from our strategic initiatives such as partner collaborations, consumption momentum and multi-use case customers,” said Josh James, founder and CEO, Domo. “Domo is a compelling solution for the current data and AI environment. We’re confident that our strategic priorities will continue to reinforce our competitive position.”

Recent Highlights

We believe the following announcements and recognition demonstrate our commitment to product innovation and customer value:

• Domo was the winner of five Dresner Advisory Services 2023 Technology Innovation Awards, as a top vendor in the following Wisdom of Crowds® thematic market reports: Analytical Platforms, Cloud Computing + BI, Embedded BI, Guided Analytics and Self-Service BI.
• In addition, Domo was ranked the number one vendor in the Dresner Advisory Services’ 2024 Wisdom of Crowds® Cloud Computing and Business Intelligence (BI) Market Study for the eighth consecutive year, as well as the number one vendor in Dresner Advisory Services’ 2024 Self-Service Business Intelligence (BI) Market Study for the sixth consecutive year.
• Domo was named to the Women Tech Council Shatter List, which showcases technology companies that are working to break the glass ceiling for women in tech, for the seventh consecutive year.

Business Outlook

Based on information available as of May 23, 2024, Domo is providing the following guidance for its second quarter of fiscal 2025:

• Revenue is expected to be in the range of $76.0 million to $77.0 million
• Non-GAAP net loss per share, basic and diluted, is expected to be between $0.26 and $0.30 based on 38.4 million weighted-average shares outstanding, basic and diluted

We have not reconciled guidance for non-GAAP metrics to their most directly comparable GAAP measures because certain items that impact these measures are not within our control or cannot be reasonably predicted.

Earnings Call Details

Domo plans to host a conference call today to review its fiscal 2025 first quarter financial results and to discuss its financial outlook. The call is scheduled to begin at 3:00 p.m. MT/ 5:00 p.m. ET. A live webcast of the event will be available on the Domo Investor Relations website at https://www.domo.com/ir and a live dial-in is available at (877) 484-6065 or (201) 689-8846.

A replay will be available at (877) 660-6853 or (201) 612-7415 with the access ID# 13746630 following the completion of the conference call until 11:59p.m. (ET) June 23, 2024.

About Domo

Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with user-friendly dashboards and apps. Underpinned by AI, data science and a secure data foundation that connects with existing cloud and legacy systems, Domo helps companies optimize critical business processes at scale and in record time to spark the bold curiosity that powers exponential business results.

For more information, visit www.domo.com. You can also follow Domo on You can also follow Domo on LinkedIn, X and Facebook.

Domo Disclosure Channels to Disseminate Information

Domo investors and others should note that we announce material information to the public about our company, products and services, and other issues through a variety of means, including Domo’s website, press releases, SEC filings, blogs and social media, in order to achieve broad, non-exclusionary distribution of information to the public. We intend to use the Domo Facebook page, the Domo LinkedIn page, the Domo blog, the @Domotalk X account and the @JoshJames X account as a means of disclosing information about the Company and its services and for complying with the disclosure obligations under Regulation FD. The information we post through these social media channels may be deemed material. Accordingly, we encourage investors and others to monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described here may be updated from time to time as listed on our investor relations webpage.

Use of Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP), we reference in this press release and the accompanying tables the following non-GAAP financial measures: billings, non-GAAP subscription gross margin, non-GAAP operating expenses, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss, non-GAAP net loss per share, and adjusted free cash flow. In computing these measures, we exclude the effects of certain items including stock-based compensation expense, amortization of certain intangible assets, severance of executive officers who report to the Chief Executive Officer, remeasurement of warrant liability, and proceeds from shares issued in connection with the employee stock purchase plan.

As it relates to adjusted free cash flow, we add back amounts equal to the proceeds from shares issued in connection with employee stock purchase plan to reflect the non-cash nature of these transactions. Because no cash is exchanged in these transactions, showing proceeds in the financing section of the statement of cash flows as required by GAAP results in a corresponding decrease in the operating section, which management believes is not indicative of actual cash used in or provided by our operations. We believe that this non-GAAP cash metric is useful because it provides investors with the same information that management uses to consistently evaluate, forecast and measure the Company’s actual cash flows and its ability to achieve and maintain positive cash flows.

We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our ongoing core business operating results. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods.

For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Reconciliation of Non-GAAP Financial Measures" included at the end of this release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements of our Chief Executive Officer, statements regarding competitive positions, our financial outlook for our second fiscal quarter, and results for future periods. Forward-looking statements are subject to risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings with the SEC, including, without limitation, the Annual Report on Form 10-K filed with the SEC on March 27, 2023 and the Quarterly Report on Form 10-Q for the year ended April 30, 2024 expected to be filed with the SEC on or about June 10, 2024. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update this information unless required by law.

Domo is a registered trademark of Domo, Inc.

Domo, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
	January 31,				April 30,
	2024				2024
Assets
Current assets:
Cash, cash equivalents, and restricted cash	$	60,939			$	61,158
Accounts receivable, net		67,197				47,848
Contract acquisition costs		16,006				15,403
Prepaid expenses and other current assets		9,602				9,760
Total current assets		153,744				134,169
Property and equipment, net		27,003				27,240
Right-of-use assets		11,746				11,709
Contract acquisition costs, noncurrent		19,542				17,733
Intangible assets, net		2,740				2,550
Goodwill		9,478				9,478
Other assets		1,407				1,525
Total assets	$	225,660			$	204,404
If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter. Related news ISG Announces Finalists for 2024 Women in Digital Awards LambdaTest Unveils Live Inspect for Enhanced App Automation Testing South Africa Data Center Colocation Market Supply & Demand Analysis 2024-2029 Featuring Digital Parks, OADC, Teraco, Vantage, Business Connexion, MTN, NTT, Vodacom Among Others - ResearchAndMarkets.com Perficient to Announce Second Quarter 2024 Results on August 8 Introducing LEDGER FLEX — Easy, Secure Self-Custody, Free From Compromise Bahrain Data Center Market Investment Analysis Report 2024-2029: Lucrative Growth Opportunities in IT, Electrical, Mechanical Infrastructure, General Construction, and tier standards - ResearchAndMarkets.com Greece Prepaid Card and Digital Wallet Business Databook 2024: Market Size and Forecasts, Consumer Attitude, Behaviour, Retail Spend 2019-2028 - ResearchAndMarkets.com 2024 Recruitment Marketplaces Annual Report: Top 50 List Identifies the Largest Recruitment Marketplace and Classified Sites Worldwide - ResearchAndMarkets.com Last News Sparkle works on environmentally sustainable content distribution The Italian company partners with MainStreaming for high-performance, energy-efficient video streaming Libraesva: being specialized is ok again in cybersecurity Software vendors developing vertical solutions against specific attack vectors are 'cool' again. And when it comes to email security, all companies now… Fintech: Links tests the use of exponential technologies in the banking… Links Management and Technology just concluded the testing phase of a research project focused on banking transformation Axyon AI: Italian Artificial Intelligence for Finance applications Axyon AI offers an AI platform specifically designed for asset management, with several interesting strengths for those approaching machine/deep learning… Most read Switzerland Existing & Upcoming Data Center Database 2024 - Emerging Data… The "Switzerland Existing & Upcoming Data Center Portfolio" database has been added to ResearchAndMarkets.com's offering. This database product covers… Supply Wisdom Risk Management Expert Available for Comment on Global IT… Jenna Wells, former Marine Corps Captain and Chief Customer & Product Officer of real-time risk intelligence platform Supply Wisdom, is available… Eaton names Tiffany Hanisch senior vice president, Internal Audit Intelligent power management company Eaton (NYSE:ETN) today announced that Tiffany Hanisch has been named senior vice president, Internal Audit, effective… Transact Campus Rolls Out Mobile Credential Technology at the University… Transact Campus, (“Transact”) the award winning leader in innovative mobile credential and payment solutions for a connected campus, today announced the… Newsletter signup Join our mailing list to get weekly updates delivered to your inbox. Sign me up! G11 Media Networks BitCity ChannelCity ImpresaCity SecurityOpenLab GreenCity ImpresaGreen ItalianChannelAwards AgendaIct Home Newsletter Staff Copyright Contact us InnovationOpenLab is a channel of BitCity, a newspaper registered at the court of Como , n. 21/2007 del 11/10/2007- Registration ROC n. 15698 G11 MEDIA S.R.L. Registered office Via NUOVA VALASSINA, 4 22046 MERONE (CO) - P.IVA/C.F.03062910132 Como business register n. 03062910132 - REA n. 293834 CAPITALE SOCIALE Euro 30.000 i.v. Cookie Privacy