Business
Domo Announces First Quarter Fiscal 2021 Financial Results
SILICON SLOPES, Utah, June 04, 2020 (GLOBE NEWSWIRE) -- Domo, Inc. (Nasdaq: DOMO) today announced results for the fiscal 2021 first quarter ended April 30,
About this update from Domo, Inc.
[{"type":"text","content":"SILICON SLOPES, Utah, June 04, 2020 (GLOBE NEWSWIRE) -- Domo, Inc. (Nasdaq: DOMO) today announced results for the fiscal 2021 first quarter ended April 30, 2020.\n Fiscal First Quarter Results Total revenue was $48.6 million, an increase of 19% year over yearSubscription revenue was $42.4 million, an increase of 23% year over yearSubscription revenue represented 87% of total revenueBillings were $46.5 million or 13% year-over-year growthNet cash used in operating activities was $12.9 million, an improvement of 52% year over yearAdjusted net cash used in operating activities was $9.3 million, an improvement of 58% year over yearSubscription gross margin was 79%, an improvement of 2 percentage points from Q1 FY20GAAP operating margin improved by 36 percentage points year over yearNon-GAAP operating margin improved by 34 percentage points year over yearGAAP net loss was $24.9 million, and GAAP net loss per share was $0.88, based on 28.5 million weighted-average shares outstandingNon-GAAP net loss was $18.4 million, and non-GAAP net loss per share was $0.65, based on 28.5 million weighted-average shares outstandingCash, cash equivalents and short-term investments were $88.1 million as of April 30, 2020 \"Our company was built to deliver exactly what is needed today — real-time information packaged for easy consumption, for widespread distribution on any device, at massive scale, and available in record time,” said Josh James, founder and CEO, Domo. \"We are pleased we could help the governors of three states have access to the actionable data they need to manage through the current health crisis. We are now applying the same capabilities to the private sector to help them manage their employee base and help them safely get back to work with apps and solutions built on our platform to address this specific opportunity.\" Recent Highlights We believe the following points and accolades from the last quarter are additional indicators of what’s to come in our business through our commitment to product innovation, go-to-market initiatives and customer success: Domo introduced the Crisis Command Center and Get Back to Work solutions, which leverage the speed and scale of the Domo platform to rapidly bring together massive amounts of new data sources and new data types, making it consumable and actionable to a highly distributed group of de...