Domo Announces Fiscal 2019 Second Quarter Financial Results

Domo (NASDAQ:DOMO) announced its second quarter fiscal 2019 results ending July 31, 2018 with the company reporting revenue of US$34.3 million.

Domo, a company engaged in cloud based operating system for business said that its total revenues were up 32 percent year over year while its subscription revenue represented 82 percent of the total revenue.

As quoted in the press release:

“While we’re early in our journey of fulfilling our vision and realizing our full value, we’re off to a great start. We’re delivering on our top two priorities of focusing on customers and growing the top line, which we’ve grown by more than 30%, and we’re doing so more efficiently,” said Josh James, Domo founder and CEO. “Because Domo can digitally connect any organization and empower each of its employees, we believe our market potential is every working person with a mobile device. The IPO has given us the capital needed to successfully execute our business plan. We are well positioned for future growth.”

Fiscal Second Quarter Results

• Billings were $35.7 million or 35% year-over-year growth, compared to 22% year-over-year growth for Q1 FY19
• GAAP subscription gross margin was 71% compared to 64% in Q2 FY18
• Non-GAAP subscription gross margin was 71% compared to 64% in Q2 FY18
• GAAP operating margin improved by 41 percentage points year over year
• Non-GAAP operating margin improved by 62 percentage points year over year
• GAAP operating expenses increased 11% year over year
• Non-GAAP operating expenses decreased 3% year over year
• GAAP net loss was $46.4 million, and GAAP net loss per share was $4.41, based on 10.51 million weighted-average shares outstanding
• Non-GAAP net loss was $36.2 million, and non-GAAP net loss per share was $3.44, based on 10.51 million weighted-average shares outstanding
• Cash and cash equivalents were $238.8 million

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