Welcome to our dedicated page for Domo news (Ticker: DOMO), a resource for investors and traders seeking the latest updates and insights on Domo stock.
Domo, Inc. (NASDAQ: DOMO) is a software company that offers an AI and Data Products platform used by organizations to prepare, visualize, automate, distribute, and build data products across the data journey. The DOMO news page on Stock Titan aggregates company announcements, customer stories, product updates, and financial disclosures so readers can follow how Domo’s platform is applied in practice.
Recent news highlights show Domo’s technology being used in diverse settings. A global travel management and events company uses Domo’s AI and Data Products Platform to unify travel, finance, operations, and customer data into a single, real-time view, enabling faster reporting, live dashboards, and automated alerts. An Australian tile, stone, and timber retailer has deployed Domo alongside Snowflake to create a governed data foundation, with Domo serving as the engagement layer for analytics, workflows, and custom-built applications.
Other stories describe a large grocery retailer implementing Domo as an enterprise reporting platform to aggregate data from functions such as HR, finance, marketing, operations, merchandising, and supply chain. Nonprofit organizations, through the Domo for Good program, use the platform to turn scattered data into insights that improve healthcare, education, and community development outcomes.
In addition to customer implementations, Domo news includes items on analyst recognition, awards for its AI and data products technology, participation in initiatives like the Open Semantic Interchange, and partnerships that showcase how data and AI support performance in fields such as motorsport. Earnings releases and related communications provide updates on revenue composition, subscription performance, and the use of non-GAAP financial measures.
Investors, customers, and observers can use the DOMO news feed to see how Domo positions its AI and Data Products platform, how it collaborates with partners, and how organizations across industries are using the platform to build AI-ready, data-driven operations.
Bassett Furniture Industries has integrated Domo's AI and data platform across its operations, from headquarters to retail stores. This initiative, which began in 2020, allows Bassett to use real-time data for decisions such as engaging retailers, selecting regional merchandise, and optimizing inventory. Bassett, a leading U.S. furniture manufacturer since 1902, revamped its legacy systems with Domo to foster a data-driven culture. Employees now use Domo daily for filtering data, generating reports, and monitoring trends. The Domo mobile app provides instant updates to teams nationwide, enhancing their ability to manage inventory and provide better customer experiences. This data-driven approach also aids in sales forecasting and inventory management, improving operational efficiency.
Domo (Nasdaq: DOMO) and Manulife Financial have been named winners of the 2024 Nucleus ROI Award for achieving a 184% ROI through Domo’s business intelligence platform. Manulife implemented Domo in early 2023, and by October 2023, had integrated it across all departments, enhancing data access, productivity, and marketing efficiency. The platform saved the marketing team over 90 hours a month and overall teams 40 to 65 hours monthly. Key benefits include a 14% increase in global leads, up to 197% lead growth in specific areas, and a 23% improvement in conversion rates. The internalization of media planning, enabled by Domo, also provided significant cost savings and enhanced expenditure tracking. Recognized for automating reporting and improving data-driven decision-making, this achievement underscores the value of Domo's data democratization and real-time analytics.
Domo (Nasdaq: DOMO) announced that its annual 'Data Never Sleeps' infographic has won the 2024 Communicator Award for the second year in a row. The infographic, an annual feature for over a decade, tracks real-time global data usage, highlighting significant growth across various online platforms.
The latest version, Data Never Sleeps 11.0, showcases data trends like ChatGPT's 6,944 prompts per minute, Google's 6.3 million searches per minute, Amazon's $455,000 in sales per minute, and Venmo's $463,768 in transactions per minute. It underscores the evolving landscape of digital data, especially with AI becoming more mainstream.
The Communicator Awards, celebrating their 30th anniversary, recognized Domo's infographic for its creative excellence. This competition is the largest of its kind, with over 3,000 entries globally. The infographic continues to drive significant engagement, drawing millions to Domo’s channels to explore data's impact on business and culture.
Medius, an accounts payable software provider, has integrated Domo to enhance its analysis of sales and marketing impacts, and optimize sales funnel efficiencies. Processing over $200 billion annually for 4,000+ customers across 102 countries, Medius aims to automate invoice processing using AI. Before Domo, data was fragmented, hampering intelligent decision-making. Post-implementation, Medius achieved comprehensive visibility into its go-to-market strategies, improving lead tracking and revenue analysis. Domo's pre-built connectors and Cloud Amplifier have accelerated value realization, improving data governance and compliance. This integration positions Medius as a leading AP solution provider, enhancing its technological prowess and customer service capabilities.
Domo (Nasdaq: DOMO) has been named to the 2024 ParityLIST by Parity.Org for the fifth consecutive year. This program recognizes companies that offer equal advancement opportunities across recruitment, promotion, and compensation practices. Domo's Chief Human Resources Officer, Madison McCord, emphasized the company's belief in employee success driving business success. Recently, Domo relaunched its Everybody@Domo Employee Resource Group (ERG) to foster an inclusive culture. Parity.Org's President, Dina Schenk, commended the dedication of organizations striving for true equal opportunity. A full list of honorees and a Key Findings Report are available at Parity.Org.
Domo (Nasdaq: DOMO) announced that Mark Maughan, the company's Chief Analytics Officer and SVP of Customer Success, won the Executive Excellence Award from Utah Business Magazine. Recognized for his leadership, Maughan has been instrumental in building Domo's internal analytics team and enhancing customer success since 2015. The award ceremony took place on June 20 in Salt Lake City. Maughan's efforts have led to significant improvements in employee retention and institutional knowledge within the company. He is also an active figure in the Silicon Slopes tech community, collaborating with other leaders to advance the tech ecosystem in Utah.
Domo (Nasdaq: DOMO) has announced that Cenegenics, a leader in performance health technology, has adopted its cloud-native data and analytics platform to enhance patient care through real-time insights, accessible data, and optimized inventory management.
Previously, Cenegenics analysts spent weeks manually gathering and analyzing data from disconnected systems. Now, with Domo, they have real-time data and insights into operations at individual clinics, enabling timely, data-driven decisions. This improvement has led to a 16% increase in client count, an 11% rise in signups, and a 10% growth in revenue within the first year of using Domo.
By leveraging Domo, Cenegenics can monitor patient responses to communications, tailor messages for better engagement, and accurately manage inventory based on physician usage patterns. This operational efficiency enables the company to allocate resources effectively and reduce costs, while also tracking clinic performance across core KPIs to drive further improvements.
Today, Domo (Nasdaq: DOMO) announced that Harmons Grocery, a Utah-based upscale supermarket chain, is leveraging Domo's platform to access real-time insights across sales, operations, and marketing. Harmons, with over 4,000 employees and 20 stores, struggled with inefficient reporting processes before adopting Domo. This integration allows Harmons to consolidate data from various systems into a single, user-friendly platform, enabling better decision-making and reducing food waste. Now, more than 1,000 users at Harmons can instantly access and utilize data to optimize staffing, inventory, and sales strategies, ultimately enhancing the customer shopping experience.
Domo (Nasdaq: DOMO) has been named a leader in Dresner Advisory Services’ 2024 Wisdom of Crowds Business Intelligence Market Study. This marks the eighth consecutive year that Domo has received a perfect recommendation score. The 15th edition of the study assesses various BI market aspects, including automation, user penetration, and TCO. Domo excelled in categories like product robustness, functionality, technology reliability, component integration, usability, installation, and upgrades. It also topped the Customer Experience and Vendor Credibility models, receiving high marks for customer satisfaction and perceived value. This recognition reflects Domo's innovations in AI and data solutions, helping businesses make data-driven decisions. This is Domo's fourth recognition from Dresner in 2024, highlighting its continued industry leadership.
Today, Domo (Nasdaq: DOMO) announced that Fluxx, a leading cloud-based grants management solution, is leveraging Domo's technology to enhance its offerings. Fluxx serves over 400 foundations and government organizations, impacting more than 150,000 non-profits annually with over $15 billion in grants.
In 2022, Fluxx sought to integrate advanced data tools into its platform, leading to the creation of 'Grantelligence' using Domo Everywhere. Released in 2023, Grantelligence has quickly become a top-selling product, with 50% of new customers opting for it.
Using Domo, Fluxx developed an executive dashboard for real-time data access, streamlining decision-making for grantmaking executives. This collaboration represents a significant shift towards data-driven insights in grant management, enhancing operational efficiencies and customer satisfaction.