Domo Inc Stock Price, News & Analysis

Domo, Inc. (Nasdaq: DOMO) reported its fiscal fourth quarter and full-year results for 2023, revealing total revenue of $79.6 million, a 14% increase year-over-year. Subscription revenue reached $70.3 million, growing 18%. However, billings decreased 3% to $104.5 million. Remaining Performance Obligations (RPO) increased 12% to $378.2 million. The GAAP net loss was $19.8 million or $0.57 per share. For fiscal 2024, revenue guidance is projected between $323.0 million and $330.0 million, with a non-GAAP net loss per share forecasted between $0.27 and $0.39. Domo aims to capitalize on strong demand and pipeline health.

Domo, Inc. (NASDAQ: DOMO) announced significant leadership changes, including the appointment of founder Josh James as CEO, succeeding John Mellor. This leadership transition also sees David Jolley named CFO, replacing Bruce Felt, and Jeff Skousen appointed as Chief Revenue Officer. Additionally, Dan Strong and Renée Soto have joined the Board of Directors, increasing the total to seven members. The Board expressed confidence in the new leadership's ability to drive innovation and growth, with James emphasizing a strong demand for Domo's products continuing into 2023. The leadership structure aims to enhance internal alignment and better serve customers.

Domo (NASDAQ: DOMO) announced that its management team will present at two major conferences: the JMP Securities Technology Conference on March 7, 2023, at 12:00 PM PT, and the Morgan Stanley Technology, Media and Telecom Conference on March 8, 2023, at 8:00 AM PT. A live webcast of both presentations will be available on Domo’s Investor Relations website. Domo aims to revolutionize business processes through its low-code data app platform, significantly enhancing data utilization across organizations. For further details, visit their website or follow them on social media.

Domo (NASDAQ: DOMO) released a report revealing that businesses could save $6.5B weekly by improving data access and technology, a key factor in worker productivity. The study surveyed over 3,000 employees, finding that 31% are unaware of their company's strategy, and 45% desire better data access. Almost 62% believe enhanced tech would increase their job satisfaction. The report suggests that 58% of employees acknowledged that improved access to technology could help navigate economic challenges. The study highlights a troubling trend of 'Sleepworking,' with 24% reporting high turnover in the last year, escalating to 71% among those lacking tech tools.

Domo (Nasdaq: DOMO) will announce its financial results for the fourth quarter and full year of fiscal 2023, ending January 31, 2023, after the market closes on March 6, 2023. A conference call will be held at 3:00 p.m. (MT) to discuss these results with investors and stakeholders. Participants must register in advance for the call. A replay will be available until March 20, 2023. Domo offers a low-code data app platform aimed at transforming business operations by enhancing data accessibility and insights.

Domo (NASDAQ: DOMO) has announced Domopalooza 2023, a virtual event scheduled for March 29, 2023. This ninth annual event features business and tech leaders from companies like Constellium and CleanChoice Energy, who will share insights on leveraging data for enhanced business impact. The event includes workshops, roundtable discussions, and training sessions aimed at modernizing business processes through data utilization. Attendees are encouraged to register and explore an agenda with over 20 breakout sessions designed to showcase Domo’s innovative approaches to business intelligence.

Domo (Nasdaq: DOMO) will present at the 25th Annual Needham Growth Conference on Thursday, January 12, 2023, at 10:15 am ET. The presentation can be accessed via a live webcast on Domo's Investor Relations website. Domo's platform empowers users to create data applications, streamlining business processes significantly. This event highlights Domo's commitment to innovation and its role in transforming business data utilization.

Domo has been recognized as the top vendor in the Dresner Advisory Services’ 2022 Analytical Platforms Market Study, outperforming 15 other companies. This ranking reflects Domo's functionality, validated by user feedback and analyst input. The company has achieved seven distinctions from Dresner this year, including top rankings across several key studies. Domo's CEO commented on the significance of this recognition in enhancing customer outcomes by providing an integrated technology platform for business intelligence.