Domo Announces Fourth Quarter and Fiscal 2020 Financial Results

SILICON SLOPES, Utah, March 10, 2020 – Domo, Inc. announced results for the fiscal 2020 fourth quarter and year ended January 31, 2020.

Fiscal Fourth Quarter Results

• Total revenue was $46.2 million, an increase of 17% year over year
• Subscription revenue was $39.7 million, an increase of 24% year over year
• Subscription revenue represented 86% of total revenue
• Billings were $65.0 million or 13% year-over-year growth
• Net cash and adjusted net cash used in operating activities was $15.3 million, an improvement of 45% year over year
• Subscription gross margin was 76%, an improvement of 2 percentage points from Q4 FY19
• GAAP operating margin improved by 12 percentage points year over year
• Non-GAAP operating margin improved by 12 percentage points year over year
• GAAP net loss was $29.9 million, and GAAP net loss per share was $1.06, based on 28.0 million weighted-average shares outstanding
• Non-GAAP net loss was $23.7 million, and non-GAAP net loss per share was $0.85, based on 28.0 million weighted-average shares outstanding
• Cash, cash equivalents and short-term investments were $98.8 million as of January 31, 2020

Full Year Fiscal 2020 Results

• Total revenue was $173.4 million, an increase of 22% year over year
• Subscription revenue was $146.8 million, an increase of 25% year over year
• Subscription revenue represented 85% of total revenue
• Billings were $189.2 million or 14% year-over-year growth
• Net cash used in operating activities was $80.2 million, an improvement of 39% year over year
• Adjusted net cash used in operating activities was $72.4 million, an improvement of 45% year over year
• Subscription gross margin was 76%, an improvement of 4 percentage points from FY19
• GAAP operating margin improved by 35 percentage points year over year
• Non-GAAP operating margin improved by 35 percentage points year over year
• GAAP operating expenses decreased by 2% year over year
• Non-GAAP operating expenses decreased by 4% year over year
• GAAP net loss was $125.7 million, and GAAP net loss per share was $4.57, based on 27.5 million weighted-average shares outstanding
• Non-GAAP net loss was $103.0 million, and non-GAAP net loss per share was $3.74, based on 27.5 million weighted-average shares outstanding

Recent Highlights

We believe the following points and accolades from the last quarter are additional indicators of what’s to come in our business through our commitment to product innovation, go-to-market initiatives and customer success:

• Domo launched the next generation of the Domo Appstore with enhancements such as a more robust SDK, improved navigation and new enterprise apps that make it even easier to find and build solutions that drive business forward with data. All apps in the Domo Appstore leverage the power of the Domo Business Cloud, making it quick and easy to connect to virtually any data source and make that data more valuable for teams and organizations anywhere.
• As part of the Domo Appstore launch, Domo announced a new collaboration with Amazon Web Services (AWS) designed to help customers modernize any business process and get BI leverage at cloud scale in record time. Mutual customers will be able to access and integrate any data they’ve subscribed to from AWS Data Exchange directly in Domo and easily get that data into the hands of anyone across the business.
• Domo was honored as the “Best in Mobile Cloud Solution” in the 2019-2020 Cloud Awards.
• Domo received a DEVIES Award for Best Innovation in IoT for the Domo IoT Cloud.
• Domo was ranked #1 in the Dresner Advisory Services’ Big Data Analytics Market Study, as well as a four-category winner in Dresner’s 2019 Technology Innovation Awards.
• Domo received a gold medal in SoftwareReviews’ 2020 Business Intelligence Data Quadrant Awards, and earned the top spot for ease of data integration and for vendor support.

Business Outlook

Based on information available as of March 10, 2020, Domo is providing the following guidance for Q1 and full year fiscal 2021:

Q1 Fiscal 2021

• Revenue is expected to be in the range of $46.0 million to $47.0 million
• Non-GAAP net loss per share is expected to be between $1.04 and $1.08 based on 28.4 million weighted-average shares outstanding

Full Year Fiscal 2021

• Revenue is expected to be in the range of $192.0 million to $198.0 million
• Non-GAAP net loss per share is expected to be between $3.22 and $3.32 based on 29.2 million weighted-average shares outstanding

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

For the full  results and graphics, visit: https://www.domo.com/news/press/domo-announces-fourth-quarter-and-fiscal-2020-financial-results

About Domo

Domo is the Business Cloud, empowering organizations of all sizes with BI leverage at cloud scale, in record time. With Domo, BI-critical processes that took weeks, months or more can now be done on-the-fly, in minutes or seconds, at unbelievable scale.  For more information about how Domo helps its customers go fast, go big and go bold, visit www.domo.com. You can also follow Domo on Twitter, Facebook and LinkedIn.

Source: Domo