Domo Announces Fourth Quarter and Fiscal 2023 Financial Results

About this update from Domo, Inc.

[{"type":"text","content":" SILICON SLOPES, Utah--(BUSINESS WIRE)--\nDomo, Inc. (Nasdaq: DOMO) today announced results for its fiscal fourth quarter and year ended January 31, 2023.\n\nFiscal Fourth Quarter Results\n\n\nTotal revenue was $79.6 million, an increase of 14% year over year\n\n\nSubscription revenue was $70.3 million, an increase of 18% year over year\n\n\nSubscription revenue represented 88% of total revenue\n\n\nBillings were $104.5 million, a decrease of 3% year over year\n\n\nRemaining Performance Obligations (RPO) was $378.2 million as of January 31, 2023, an increase of 12% year over year\n\n\nRPO expected to be recognized as revenue in the next 12 months was $243.8 million as of January 31, 2023, an increase of 10% year over year\n\n\nNet cash used in operating activities was $2.8 million\n\n\nGAAP subscription gross margin was 85%, an improvement of 4 percentage points from Q4 FY22\n\n\nNon-GAAP subscription gross margin was 86%, an improvement of 3 percentage points from Q4 FY22\n\n\nGAAP operating margin increased by 23 percentage points year over year\n\n\nNon-GAAP operating margin increased by 18 percentage points year over year\n\n\nGAAP net loss was $19.8 million, and GAAP net loss per share was $0.57, based on 34.7 million weighted-average shares outstanding\n\n\nNon-GAAP net loss was $0.8 million, and non-GAAP net loss per share was $0.02, based on 34.7 million weighted-average shares outstanding\n\n\nCash, cash equivalents, and restricted cash were $66.5 million as of January 31, 2023\n\n\nFull Year Fiscal 2023 Results\n\n\nTotal revenue was $308.6 million, an increase of 20% year over year\n\n\nSubscription revenue was $271.3 million, an increase of 22% year over year\n\n\nSubscription revenue represented 88% of total revenue\n\n\nBillings were $323.8 million or 9% year-over-year growth\n\n\nNet cash used in operating activities was $10.9 million\n\n\nGAAP subscription gross margin was 84% in FY23, an improvement of 2 percentage points from FY22\n\n\nNon-GAAP subscription gross margin was 85% in FY23, an improvement of 4 percentage points from FY22\n\n\nGAAP operating margin increased by 6 percentage points year over year\n\n\nNon-GAAP operating margin increased by 9 percentage points year over year\n\n\nGAAP net loss was $105.6 million, and GAAP net loss per share was $3.10, based on 34.1 million weighted-average shares outs...

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