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Domo(DOMO) - 2025 Q1 - Quarterly Results
DOMODomo(DOMO)2024-05-23 20:08

Financial Performance - Total revenue for the first quarter of fiscal 2025 was 80.1million,representinga180.1 million, representing a 1% increase year over year[4] - Subscription revenue was 72.1 million, also a 1% increase year over year[4] - Billings decreased by 7% year over year to 65.5million[4]−GAAPnetlosswas65.5 million[4] - GAAP net loss was 26.0 million, with a GAAP net loss per share of 0.69basedon37.5millionweighted−averagesharesoutstanding[4]−Non−GAAPnetlosswas0.69 based on 37.5 million weighted-average shares outstanding[4] - Non-GAAP net loss was 12.3 million, with a non-GAAP net loss per share of 0.33[4]−ForthethreemonthsendedApril30,2024,Domo,Inc.reportedanetlossof0.33[4] - For the three months ended April 30, 2024, Domo, Inc. reported a net loss of 26,007 thousand, compared to a net loss of 24,403thousandforthesameperiodin2023,reflectinga6.624,403 thousand for the same period in 2023, reflecting a 6.6% increase in losses[23] - Subscription revenue for the three months ended April 30, 2024, was 72,110 thousand, up from 71,090thousandinthesameperiodof2023,indicatingagrowthof1.471,090 thousand in the same period of 2023, indicating a growth of 1.4%[25] - The total revenue for the three months ended April 30, 2024, was 80,103 thousand, compared to 79,458thousandinthesameperiodof2023,representingagrowthof0.879,458 thousand in the same period of 2023, representing a growth of 0.8%[27] Cash and Expenses - Cash, cash equivalents, and restricted cash totaled 61.2 million as of April 30, 2024[4] - Cash, cash equivalents, and restricted cash at the end of the period for April 30, 2024, were 61,158thousand,adecreasefrom61,158 thousand, a decrease from 65,988 thousand at the end of the previous period[23] - Total operating expenses on a GAAP basis for the three months ended April 30, 2024, were 80,839thousand,slightlyupfrom80,839 thousand, slightly up from 80,598 thousand in the same period of 2023[25] - Domo's stock-based compensation expense decreased from 16,472thousandinApril2023to16,472 thousand in April 2023 to 14,142 thousand in April 2024[25] - Domo's adjusted free cash flow improved to 496thousandforthethreemonthsendedApril30,2024,comparedtoanadjustedfreecashflowof496 thousand for the three months ended April 30, 2024, compared to an adjusted free cash flow of (716) thousand for the same period in 2023[27] - The company experienced a net cash provided by operating activities of 1,901thousandforthethreemonthsendedApril30,2024,comparedto1,901 thousand for the three months ended April 30, 2024, compared to 828 thousand for the same period in 2023, marking a significant increase of 129.5%[27] Future Guidance - Revenue guidance for the second quarter of fiscal 2025 is expected to be between 76.0millionand76.0 million and 77.0 million[11] - Non-GAAP net loss per share for the second quarter is expected to be between 0.26and0.26 and 0.30 based on 38.4 million weighted-average shares outstanding[11] Market Position and Recognition - Domo won five Dresner Advisory Services 2023 Technology Innovation Awards, highlighting its competitive position in the market[5] - Domo was ranked the number one vendor in the 2024 Wisdom of Crowds® Cloud Computing and Business Intelligence (BI) Market Study for the eighth consecutive year[5] Revenue Recognition - The subscription gross margin on a GAAP basis decreased from 85% in April 2023 to 82% in April 2024, while the non-GAAP subscription gross margin also declined from 86% to 83%[25] - The company reported a decrease in deferred revenue of 14,607thousandforthethreemonthsendedApril30,2024,comparedtoadecreaseof14,607 thousand for the three months ended April 30, 2024, compared to a decrease of 9,159 thousand in the same period of 2023[27]