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.
Domo (NASDAQ: DOMO) released a Total Economic Impact™ study by Forrester, revealing organizations using its low-code data platform can achieve a remarkable ROI of 455% over three years, recouping investments in under a month. The study reported $16.04 million in benefits and $3.4 million profit from the sales enablement app. Additional savings totaled $3.5 million from procurement and $2.9 million from accounts receivable. Qualitative benefits include improved visibility, data consistency, and quicker integration of new data sources.
Domo has been recognized as a Challenger in the 2022 Gartner Magic Quadrant for Analytics and Business Intelligence platforms, marking its second consecutive appearance in this category.
This recognition is attributed to Domo's completeness of vision and ability to execute. The company boasts a 94% recommendation rate based on 72 customer reviews. CEO John Mellor emphasized Domo's capability to enhance digital transformation through data apps that integrate data with workflow to improve organizational efficiency.
Domo introduces Data Apps, a suite of low-code tools designed to democratize data access across organizations. Unlike traditional business intelligence, these apps cater to all employees, enhancing data-driven decision-making. Research indicates that over 80% of enterprise decision-makers currently underutilize BI tools. Domo aims to bridge this gap by allowing users to create personalized applications quickly. The launch includes four accelerators for retail and financial services to improve operational efficiency and customer insights. Additional platform updates enhance data integration and governance capabilities.
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A new study from Domo reveals a significant gap in data decision-making among organizations, with 55% of respondents indicating no change in decision processes despite increased data investments. Key issues include a lack of understanding of data access and usage, disconnected BI tools, and insufficient training. Notably, 70% of personal needs are supported by effective apps, while 52% of business needs lack similar support. The study warns that this gap may lead to future data bottlenecks, urging companies to adopt better data tools for informed decision-making.
Domo (Nasdaq: DOMO) has announced a new collaboration with Moss Adams, a leading accounting and consulting firm. This partnership will enhance Moss Adams' ability to implement Domo’s analytics platform, promoting efficient data processes for clients. By utilizing Domo's Business Intelligence (BI) solutions, Moss Adams aims to automate manual tasks, enabling real-time data insights that drive business value. Upcoming insights from Moss Adams will be shared at Domopalooza 2022 on March 23, highlighting the operational benefits of leveraging advanced analytics.
Domo (Nasdaq: DOMO) is set to host a virtual investor session as part of Domopalooza 2022 on March 24, 2022, at 10:30 AM MT/12:30 PM ET. This event aims to provide insights for investors and financial analysts, which will be accessible via live webcast on Domo's Investor Relations website. Domo continues to redefine business management with its Business Cloud platform and aims to deliver Modern BI for All™. For further details about Domo's offerings, visit www.domo.com.
Domo (Nasdaq: DOMO) will present at the JMP Securities Technology Conference on March 8, 2022, at 12:00pm PT, and at the Morgan Stanley Technology, Media and Telecom Conference on March 9, 2022, at 3:00pm PT. A live webcast of these presentations will be accessible on Domo's Investor Relations website. Domo is committed to transforming business management with its Business Cloud solutions, enabling rapid and scalable processes. For more details, visit Domo's Investor Relations page.
Domo, Inc. reported fiscal Q4 2022 results with total revenue of $70.0 million, up 23% y-o-y. Subscription revenue was $59.6 million, marking a 19% increase. Billings reached $108.0 million, growing 30% y-o-y. Remaining Performance Obligations stood at $339.0 million, with $221.7 million expected to be recognized as revenue in the next year. However, the GAAP net loss was $33.3 million ($1.01 per share). For fiscal 2023, Domo forecasts revenue between $314.0 million to $319.0 million and a non-GAAP net loss per share of $1.43 to $1.53.
Domo, Inc. announced a leadership transition involving several promotions and appointments. John Mellor is named CEO, having previously served as Chief Strategy Officer. Catherine Wong is promoted to COO, enhancing operational leadership. Founder Josh James steps down from his roles as CEO and Chairman. Carine Clark becomes Executive Chair, while John Pestana joins the Board as an independent director. Domo reported record billings of $108 million for Q4 FY2022, marking a 30% year-over-year increase, and has been cash-flow positive since FY2021.