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Domo(DOMO) - 2024 Q1 - Quarterly Report
2023-06-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________ Form 10-Q __________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to . Commission File Number 001-38553. DOMO, INC. (Exact Name of Registrant as Specified in its Charter) ___ ...
Domo(DOMO) - 2024 Q1 - Earnings Call Transcript
2023-05-26 01:31
Financial Data and Key Metrics Changes - In Q1, total revenue grew by 7% year-over-year, reaching $79.5 million, with subscription revenue growth at 10% [8][31] - Billings for Q1 were $70.3 million, reflecting a year-over-year decline of nearly 4% [31] - Current Remaining Performance Obligations (RPO) grew by 6% year-over-year to $237.5 million, while total RPO increased by 1% to $356.7 million [32] - The company reported a net loss of $6.1 million, an improvement from a loss of $7.6 million a year ago [35] Business Line Data and Key Metrics Changes - Subscription revenue constituted 89% of total revenue and grew at 10% year-over-year [33] - Subscription gross margin improved to 85.9%, up 1.3 percentage points from the previous year [33] Market Data and Key Metrics Changes - International revenue represented 21% of total revenue, consistent with the same quarter last year [33] - The company has seen a stable demand environment in established relationships, particularly in Japan, which continues to perform well [72] Company Strategy and Development Direction - The company is focused on rebuilding its growth trajectory through customer engagement and a motivated sales team [8][29] - A shift to a consumption-based pricing model is expected to enhance customer adoption and align pricing with the value delivered [19][20] - The company aims to leverage AI technologies to enhance its data experience platform, integrating AI solutions that provide flexibility and control to customers [26][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's prospects, citing a reenergized sales force and improved customer relationships [29][31] - The macroeconomic environment is challenging, but the company believes it can find opportunities to close deals and upsell within existing accounts [50][72] - The company anticipates that efforts to stabilize and grow will begin to show results in the next 2 to 3 quarters [29] Other Important Information - The company was recognized as a leader in the Nucleus Research 2023 Analytics Technology Value Matrix for the third consecutive year [25] - The AI service layer is set to be available in June, with several AI features already accessible [28] Q&A Session Summary Question: What initiatives are being taken to rebuild the large deal pipeline? - The CEO mentioned reengaging with existing customers and leveraging established relationships to facilitate conversations and close deals [42][47] Question: How is the consumption pricing model being implemented? - The CEO explained that the consumption model allows customers to try features without upfront costs, leading to higher adoption rates and upsells [51][53] Question: What is the demand environment like across different geographies? - The CEO noted that established relationships are crucial for closing deals, with Japan performing particularly well, while cold calls have become less effective in the current environment [68][72]
Domo(DOMO) - 2023 Q4 - Annual Report
2023-03-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________ Form 10-K __________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to . Commission File Number 001-38553. DOMO, INC. (Exact Name of Registrant as Specified in its Charter) _________ ...
Domo(DOMO) - 2023 Q4 - Earnings Call Transcript
2023-03-07 02:00
Domo, Inc. (NASDAQ:DOMO) Q4 2023 Results Conference Call March 6, 2023 5:00 PM ET Company Participants Peter Lowry - Investor Relations John Mellor - CEO (Outgoing) Josh James - CEO Julie Kehoe - Chief Communications Officer David Jolley - CFO Conference Call Participants Eric Martinez - Lake Street Capital Markets Derrick Wood - Cowen Kamil Mielczarek - William Blair Sanjit Singh - Morgan Stanley Operator Good afternoon, ladies and gentlemen, and welcome to the Domo Q4 Fiscal Year 2023 Earnings Conference ...
Domo(DOMO) - 2023 Q3 - Earnings Call Transcript
2022-12-09 02:05
Domo, Inc. (NASDAQ:DOMO) Q3 2023 Earnings Conference Call December 8, 2022 5:00 PM ET Corporate Participants Peter Lowry - Vice President of Investor Relations Julie Kehoe - Chief Communications Officer John Mellor - Chief Executive Officer Bruce Felt - Chief Financial Officer Conference Call Participants Derrick Wood - Cowen Pat Walravens - JMP Securities Eric Martinuzzi - Lake Street Capital Markets Operator Hello, everyone, and welcome to the Domo Q3 Fiscal Year 2023 Earnings Call. Today's call is being ...
Domo(DOMO) - 2023 Q3 - Quarterly Report
2022-12-08 16:00
Revenue and Growth - Total revenue for the three months ended October 31, 2022, was $79.0 million, reflecting a year-over-year increase of 21% from $65.1 million in the same period of 2021[198]. - Billings for the three months ended October 31, 2022, were $74.0 million, compared to $70.2 million in the same period of 2021, indicating growth in subscription renewals and upsells[221]. - Subscription revenue increased by 22% from $56,621 thousand in Q3 2021 to $69,041 thousand in Q3 2022, driven by a $7.5 million increase from new customers and a $4.9 million increase from existing customers[238]. - Total revenue for Q3 2022 was $79,026 thousand, up 21% from $65,081 thousand in Q3 2021[238]. - Subscription revenue increased by $37.6 million, or 23%, from $163.4 million in the nine months ended October 31, 2021, to $201.0 million in the same period of 2022[249]. - Total revenue rose by $41.1 million, or 22%, from $188.0 million to $229.0 million during the same period[249]. Customer Metrics - Remaining performance obligations (RPO) grew by 19% year-over-year, reaching $354.3 million as of October 31, 2022, compared to $296.9 million in 2021[197]. - The gross retention rate improved to 91% for the 12 months ended October 31, 2022, up from 90% in the previous year[212]. - As of October 31, 2022, the company had over 2,500 customers, with enterprise customers accounting for 50% of revenue for the three months ended October 31, 2022[207]. - Customer count increased by 14% from October 31, 2021, to October 31, 2022[238]. Financial Performance - The company incurred a net loss of $23.7 million for the three months ended October 31, 2022, compared to a net loss of $28.5 million in the same period of 2021[201]. - The company reported a net loss of $23,711 thousand in Q3 2022, compared to a net loss of $28,513 thousand in Q3 2021[234]. - Gross profit rose by 25% from $47,937 thousand in Q3 2021 to $60,112 thousand in Q3 2022, resulting in a gross margin increase from 74% to 76%[240]. - Gross profit improved by $34.8 million, or 25%, from $139.3 million to $174.1 million, with total gross margin increasing from 74% to 76%[251]. Expenses and Costs - Research and development expenses as a percentage of total revenue decreased to 31% for the three months ended October 31, 2022, from 34% in the same period of 2021[218]. - Sales and marketing expenses as a percentage of total revenue decreased to 52% for the three months ended October 31, 2022, compared to 58% in the same period of 2021[216]. - Total operating expenses increased from $72,917 thousand in Q3 2021 to $78,624 thousand in Q3 2022, with sales and marketing expenses rising from $37,503 thousand to $41,012 thousand[234]. - Operating expenses increased by $49.0 million, or 25%, from $197.9 million to $246.9 million, with sales and marketing expenses rising by $26.9 million, or 26%[254]. - The cost of subscription revenue increased by 8% from $10,514 thousand in Q3 2021 to $11,342 thousand in Q3 2022, primarily due to a $1.4 million increase in third-party web hosting services[240]. Cash and Debt Management - As of October 31, 2022, the company had $71.1 million in cash and cash equivalents, with a $100 million credit facility fully drawn[260]. - The company has drawn the full $100 million from its credit facility, with a term loan maturity date set for April 1, 2025, and an interest rate of approximately 9.3% as of October 31, 2022[266][287]. - The company had total debt outstanding of $107.4 million as of October 31, 2022, with a maximum allowable debt-to-annualized recurring revenue ratio of 0.525[267][288]. - The structured payables agreement allows for a maximum outstanding principal balance of $5.0 million, with an annual limit of $60.0 million, and no interest expense was recognized related to this agreement during the three and nine months ended October 31, 2022[269]. - The company had $71.1 million in cash, cash equivalents, and restricted cash as of October 31, 2022, with $3.7 million classified as restricted cash[286]. Future Outlook - The company expects revenue growth rates to decline in the near term due to decreased sales capacity from higher turnover among sales representatives[199]. - The company expects total revenue growth rate to decrease for the remainder of fiscal 2023 and likely into the first half of fiscal 2024[238]. - The company plans to continue investing in growth opportunities, product development, and sales and marketing over the long term[262]. Other Considerations - The company experienced net cash provided by financing activities of $2.4 million for the nine months ended October 31, 2022, compared to a net cash used of $0.8 million in the same period of 2021[271][279]. - Significant cash outflows for the nine months ended October 31, 2022 included $150.5 million for personnel costs and $45.0 million for marketing programs and events[274]. - The company is required to comply with a financial covenant based on the ratio of outstanding indebtedness to annualized recurring revenue, with compliance confirmed as of January 31, 2022, and October 31, 2022[268]. - The company has not engaged in hedging foreign currency transactions to date but is considering the costs and benefits of such a program as it expands international operations[290]. - Inflation has not materially affected the company's financial condition or results of operations to date, with subscription contracts often tied to the Consumer Price Index[291].
Domo(DOMO) - 2023 Q2 - Quarterly Report
2022-09-07 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION __________________________ WASHINGTON, D.C. 20549 __________________________ Form 10-Q __________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to . Commission File Number 001-38553. DOMO, INC. (Exact Name of Registrant as Spe ...
Domo(DOMO) - 2023 Q2 - Earnings Call Transcript
2022-08-25 23:25
Domo, Inc. (NASDAQ:DOMO) Q2 2023 Earnings Conference Call August 25, 2022 5:00 PM ET Company Participants Peter Lowry - Vice President of Investor Relations Julie Kehoe - Chief Communications Officer John Mellor - Chief Executive Officer Bruce Felt - Chief Financial Officer Conference Call Participants Kamil Mielczarek - William Blair Derrick Wood - Cowen Pat Walravens - JMP Securities Sanjit Singh - Morgan Stanley Operator Ladies and gentlemen, thank you for standing by. And welcome to Domo’s Second Quarte ...
Domo(DOMO) - 2023 Q1 - Quarterly Report
2022-06-07 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION __________________________ WASHINGTON, D.C. 20549 __________________________ Form 10-Q __________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to . Commission File Number 001-38553. DOMO, INC. (Exact Name of Registrant as Sp ...
Domo(DOMO) - 2023 Q1 - Earnings Call Transcript
2022-05-27 01:35
Domo, Inc. (NASDAQ:DOMO) Q1 2023 Results Conference Call May 26, 2022 5:00 PM ET Company Participants Peter Lowry - Vice President of Investor Relations Julie Kehoe - Chief Communications Officer John Mellor - Chief Executive Officer Bruce Felt - Chief Financial Officer Conference Call Participants Sanjit Singh - Morgan Stanley Pat Walravens - JMP Derrick Wood - Cowen Operator Ladies and gentlemen, thank you for standing by, and welcome to Domo's First Quarter Fiscal Year 2023 Earnings Call. [Operator Instr ...