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Domo(DOMO) - 2021 Q3 - Quarterly Report
2020-12-10 21:20
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 October 31, 2020 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) - 2021 Q3 - Earnings Call Transcript
2020-12-04 05:03
Financial Data and Key Metrics Changes - Domo achieved a significant milestone by becoming cash flow positive in Q3 with $84 million remaining in the bank, surpassing expectations set at the IPO [15][33] - Q3 billings grew by 25% year-over-year, an acceleration from 23% in the previous quarter [16][35] - Total revenue for Q3 was $53.6 million, representing a 20% year-over-year increase, with subscription revenue growing by 24% [37] - The gross retention rate increased to over 90%, marking a record high, while subscription gross margins reached 81% [34][37] - Operating expenses decreased by 6% year-over-year, contributing to a significant improvement in operating margin by 31 percentage points [38] Business Line Data and Key Metrics Changes - Domo's subscription revenue accounted for 87% of total revenue in Q3, indicating a strong reliance on recurring revenue [37] - The company reported a year-over-year increase in remaining performance obligations (RPO) of 21%, with current RPO expected to be recognized as revenue over the next 12 months growing by 22% [36] Market Data and Key Metrics Changes - International revenue represented 24% of total revenue in Q3, consistent with the previous quarter [37] - The company noted a high transaction volume quarter, driven by new customer growth and upsells within the existing customer base [50] Company Strategy and Development Direction - Domo's strategy focuses on leveraging its unique platform to assist customers with digital transformation initiatives, emphasizing data integration, AI-driven insights, and low-code/no-code app development [18][20] - The company plans to invest in client services and areas that support growth in existing accounts, reflecting a commitment to customer success [24] - Domo aims to maintain cash flow positivity while increasing investments in growth, particularly in salesforce capacity and new product areas [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing demand for real-time analytics and business agility, which has been accelerated by the pandemic [17] - The company anticipates continued growth opportunities, with a focus on maintaining high transaction volumes and expanding its customer base [86] - Guidance for Q4 includes expected billings of approximately $72 million, reflecting a strong start to the quarter [43] Other Important Information - Domo received industry recognition, including awards for product innovation and corporate culture, highlighting its commitment to customer success [31] - The company has been recognized for its role in supporting Unilever's philanthropic initiatives, showcasing the impact of its platform [31] Q&A Session Summary Question: Can you discuss the velocity of deals and where demand is coming from? - Management noted an extremely high transaction volume quarter, driven by new customer growth and increased operational rigor in managing the salesforce [50] Question: Can you elaborate on the traction seen in data integration and intelligent app platforms? - Management highlighted successful proof-of-concepts (POCs) that demonstrate Domo's ability to connect previously unconnected data and facilitate low-code/no-code apps [53] Question: What are the underlying assumptions behind Q4 guidance? - Management indicated that the guidance reflects a strong start to Q4 and good visibility into the pipeline, with expectations for continued high transaction volumes [57] Question: How is the large deal pipeline looking going into Q4? - Management confirmed that the large deal pipeline is building, with expectations for continued activity in Q4, although guidance does not assume significant large-scale deals [89] Question: Are there any key areas of productivity or optimization to consider? - Management mentioned ongoing investments in marketing and product, as well as the addition of sales reps to enhance productivity while maintaining positive cash flow [77]
Domo(DOMO) - 2021 Q2 - Quarterly Report
2020-09-09 01:44
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, 2020 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) - 2021 Q2 - Earnings Call Transcript
2020-09-04 05:30
Domo, Inc. (NASDAQ:DOMO) Q2 2021 Results Earnings Conference Call September 3, 2020 5:00 PM ET Company Participants Peter Lowry - Vice President, Investor Relations Josh James - Founder and CEO Bruce Felt - Chief Financial Officer Julie Kehoe - Chief Communications Officer Ian Tickle - Chief Revenue Officer John Miller - Chief Strategy Officer Conference Call Participants Sanjit Singh - Morgan Stanley Brad Zelnick - Credit Suisse Jennifer Lowe - UBS Derrick Wood - Cowen Bhavan Suri - William Blair Pat Walra ...
Domo(DOMO) - 2021 Q1 - Quarterly Report
2020-06-09 01:52
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, 2020 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) - 2021 Q1 - Earnings Call Transcript
2020-06-05 03:02
Financial Data and Key Metrics Changes - In Q1, the company reported a 23% increase in subscription revenue and a 19% year-over-year increase in total revenue, with billings of $46.5 million, a year-over-year increase of over 13% [7][49]. - Q1 revenue was $48.6 million, with subscription revenue representing 87% of total revenue, reflecting a focus on growing recurring revenue [52]. - The subscription gross margin improved to 79%, up from 77% in Q1 of the previous year [52]. - The net loss for the quarter was $18.4 million, with a net loss per share of $0.65 based on 28.5 million weighted average shares outstanding [55]. Business Line Data and Key Metrics Changes - The company successfully closed $4.5 million of recurring new business from the COVID-19 Crisis Command Center during the quarter [49]. - Renewal rates were above 85% in a seasonally slow quarter, indicating strong customer retention [51]. Market Data and Key Metrics Changes - International revenue represented 24% of total revenue in Q1, slightly down from 25% in Q4 [52]. - The company has a low percentage of business from very small companies, which has helped mitigate risks during the economic downturn [50]. Company Strategy and Development Direction - The company is focusing on leveraging its platform to support customers in navigating the challenges posed by COVID-19, including the introduction of a "Get Back to Work" solution [25][27]. - The management emphasized the importance of adapting to the evolving needs of government and commercial entities, positioning the company for growth in government contracts [24][62]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate uncertain economic conditions, with plans to maintain a cautious approach to spending while focusing on cash flow positivity [56][63]. - The company expects to exit the year with a low quarterly cash burn rate, aiming for self-funding sustainability [63]. Other Important Information - The company announced a significant reduction in operating expenses by $5 million, with plans for an additional $30 million cut to prepare for potential economic downturns [36]. - The company received multiple third-party recognitions, including being named the number one vendor in the Cloud Computing and Business Intelligence Market Study for the fourth consecutive year [42]. Q&A Session Summary Question: Can you discuss the progression of business and demand trends throughout the quarter? - Management noted that the onset of COVID-19 initially caused panic, but the company quickly adapted to meet the needs of customers, leading to strong sales cycles for Crisis Command Centers [68][75]. Question: What is the opportunity for account expansion with the Command Center? - Management indicated that there is significant potential for account expansion as they address current needs and gather more data for future renewals [90][92]. Question: How are the sales plays performing in the current environment? - Management confirmed that sales plays are performing well, with salespeople effectively trained and executing strategies that are yielding positive results [111].
Domo(DOMO) - 2020 Q4 - Annual Report
2020-04-10 23:11
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________ Form 10-K __________________________ Emerging growth company ý (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the annual period ended January 31, 2020 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 Char ...
Domo(DOMO) - 2019 Q4 - Earnings Call Transcript
2020-03-13 03:56
Financial Data and Key Metrics Changes - Subscription revenue growth averaged 28% year-over-year, never falling below 24% in any quarter [11] - Subscription gross margins improved from 71% at IPO to 77% [11] - Gross retention rate increased from 82% to 91% [11] - Contracted annualized recurring revenue exceeded $160 million [11] - Quarterly cash burn reduced from $36 million to $15 million [11] - Q4 revenue was $46.2 million, a 17% year-over-year increase [17] - Net loss for the quarter was $23.7 million, with a net loss per share of $0.85 [18] Business Line Data and Key Metrics Changes - Subscription revenue represented 86% of total revenue in Q4 [17] - International revenue accounted for 25% of total revenue, up from 24% in Q3 [17] - Net revenue retention rate reached 120% in North America enterprise business [16] Market Data and Key Metrics Changes - Remaining performance obligations (RPO) grew 17% compared to the same quarter last year [16] - 55% of customers were under multiyear contracts at the end of Q4, up from 42% a year prior [16] Company Strategy and Development Direction - Focus on increasing recurring revenue base with minimal reliance on large deals, as top five new business deals comprised only 5% of billings [14] - Emphasis on improving customer lifetime value (LTV) and retention rates [15] - Plans to achieve subscription gross margins of over 80% in the long term [17] - Entering fiscal year 2021 with a 20% larger pipeline than the previous year [22] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic despite the uncertain environment, noting that business continues to close even in challenging conditions [20][39] - The company is well-positioned due to a large sticky renewal base and the ability to sell to existing customers [21] - Guidance for Q1 billings is between $40 million and $44 million, with full-year billings expected between $205 million and $210 million [23] Other Important Information - Cash, cash equivalents, and short-term investments totaled approximately $99 million as of January 31 [19] - Adjusted net cash used in operations was $15.3 million, a 45% reduction compared to Q4 of the prior year [19] Q&A Session Summary Question: How is the enterprise sales team adapting to potential travel disruptions? - Management believes that the strong pipeline and existing customer relationships will facilitate continued business over the phone despite travel restrictions [28][30] Question: What levers are available to manage cash burn in adverse scenarios? - The company plans to increase telesales activity and has the capacity to cut costs if necessary [32][34] Question: Why does guidance seem conservative despite positive metrics? - Management acknowledges the current macro environment and has baked in caution into their guidance [41] Question: How is the competitive landscape affecting the company? - Consolidation in the industry has positioned the company as a strong independent partner, enhancing its attractiveness to customers [63] Question: What is the focus on bake-offs and POCs for 2021? - The company plans to continue leveraging POCs as they have proven effective in increasing close rates [42][43] Question: Are customers cutting budgets or delaying projects due to the current environment? - Management has not seen significant project delays or budget cuts yet, although they acknowledge the changing landscape [45][46] Question: What is the status of partnerships with Amazon and Microsoft? - The ecosystem is evolving positively, with ongoing investments and collaborations with major partners [49] Question: How is the sales organization structured to maximize effectiveness? - The sales team is divided into strategic accounts, corporate, and international teams, each focusing on different market segments [52][54]
Domo(DOMO) - 2020 Q3 - Quarterly Report
2019-12-12 02:32
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________ Form 10-Q __________________________ (Mark One) ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2019 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) - 2020 Q3 - Earnings Call Transcript
2019-12-06 03:38
Domo, Inc. (NASDAQ:DOMO) Q3 2020 Earnings Conference Call December 5, 2019 5:00 PM ET Company Representatives Josh James - Founder, Chief Executive Officer Bruce Felt - Chief Financial Officer Julie Kehoe - Chief Communications Officer Peter Lowry - Vice President of Investor Relations Conference Call Participants Sanjit Singh - Morgan Stanley Pat Walravens - JMP Securities Derrick Wood - Cowen and Co. Jennifer Lowe - UBS Operator Welcome to Domo, Third Quarter FY ‘20 Earnings Conference Call. And with tha ...