Domo Inc Stock Price, News & Analysis

Domo, a data platform company, announced it will release its third quarter fiscal 2023 results on December 8, 2022. The earnings report will follow the market close, with a conference call scheduled at 3:00 p.m. MT and 5:00 p.m. ET to discuss the results. Interested parties can register for the call in advance, and a live webcast will be available on Domo's Investor Relations website. A replay will be accessible until December 22, 2022.

Domo (Nasdaq: DOMO) has been awarded the “Customers’ Choice” distinction in the Gartner Peer Insights Voice of the Customer report for Analytics and Business Intelligence Platforms. Customers rated Domo a 4.4 or higher in key categories, including product capabilities and support, with 94% of users recommending the platform. CEO John Mellor emphasized that this recognition underscores the company's commitment to helping customers derive value from their data efficiently.

Domo (NASDAQ: DOMO) partners with Cosmo Energy Holdings (TSE: 5021) to enhance data democratization through Domo's cloud platform. After a successful proof of concept, Cosmo aims to leverage Domo's scalable platform for improved business decisions and efficiency. The collaboration supports Cosmo's digital transformation initiatives, having received recognition for its efforts. With training programs for over 7000 employees, Domo's platform seeks to enable data-driven actions across all levels of the organization.

Domo (NASDAQ: DOMO) has been recognized as a Technology Leader and Credibility Leader in Dresner Advisory Services’ 2022 SME Business Intelligence (BI) Market Study. This recognition marks Domo's sixth accolade from Dresner in 2022. The study highlights that operations, executive management, and sales are key drivers of BI in smaller firms. Domo CEO John Mellor expressed pride in the achievement, emphasizing the company's commitment to excellence in technology and customer service, which enhances efficiency and business outcomes.

Domo announces the appointment of Monica Pool Knox as Chief People Officer (CPO), aimed at enhancing its global Human Resources strategy. Pool Knox brings extensive experience from major tech firms like Microsoft and Twitter, focusing on developing high-performance organizations. She will report to CEO John Mellor and aims to foster a culture of excellence and data-driven decision-making. This strategic hire reflects Domo’s commitment to optimizing talent capabilities as it prepares for future growth.

Domo has released its 10th annual Data Never Sleeps infographic, highlighting a remarkable 1700% growth in digital engagement on platforms like Instagram and YouTube over the past decade. The report showcases a surge in digital connections, with Instagram users now posting approximately 66,000 photos per minute. However, not all platforms are thriving; Twitter has experienced a 40% decline in user posts year over year. Additionally, online spending has risen significantly, with Amazon shoppers spending $443,000 every minute. This underscores the critical role of data in a rapidly evolving digital landscape.

Domo (NASDAQ: DOMO) has announced that its partnership with Walker Edison achieved a remarkable ROI of 1670%, with payback within a month. This achievement was recognized with a Nucleus Research ROI Award, emphasizing Domo's ability to integrate real-time data into business operations. Walker Edison significantly improved inventory matching processes, saving $4M in lost revenue annually and enhancing data visualization capabilities from 30 to 10,000 metrics. Domo's platform implementation was 50% faster than competitors, demonstrating its effectiveness in driving revenue and operational efficiency.

Domo (Nasdaq: DOMO) has been recognized in the Q3 2022 Constellation ShortList for Cloud-Based Business Intelligence and Analytics Platforms for the seventh year in a row, and for Marketing Analytics Solutions for the eighth consecutive year. Constellation Research evaluates vendors based on client inquiries and market analysis. Domo's platform focuses on enabling rapid digital transformation for businesses, driven by data management and collaboration capabilities. This recognition highlights Domo's commitment to customer success in a competitive landscape.

Domo, Inc. (Nasdaq: DOMO) reported its fiscal second quarter results for the period ended July 31, 2022, revealing total revenue of $75.5 million, up 20% year over year. Subscription revenue reached $67.4 million, a 23% increase, comprising 89% of total revenue. Billings grew by 21% to $72.3 million, while Remaining Performance Obligations (RPO) rose to $349.1 million, up 22%. However, GAAP net loss was $29.1 million with a loss per share of $0.86. Domo expects Q3 revenue between $76 million and $77 million and full-year revenue of $305 million to $310 million.