Domo Announces Second Quarter 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 second quarter ended July 31, 2022.\n\nFiscal Second Quarter Results\n\n\nTotal revenue was $75.5 million, an increase of 20% year over year\n\n\nSubscription revenue was $67.4 million, an increase of 23% year over year\n\n\nSubscription revenue represented 89% of total revenue\n\n\nBillings were $72.3 million or 21% year-over-year growth\n\n\nRemaining Performance Obligations (RPO) was $349.1 million as of July 31, 2022, an increase of 22% year over year\n\n\nRPO expected to be recognized as revenue in the next twelve months was $225.3 million as of July 31, 2022, an increase of 23% year over year\n\n\nNet cash used in operating activities was $2.4 million\n\n\nGAAP subscription gross margin was 84%, an improvement of 2 percentage points from Q2 FY22\n\n\nNon-GAAP subscription gross margin was 85%, an improvement of 3 percentage points from Q2 FY22\n\n\nGAAP operating margin declined by 4 percentage points year over year\n\n\nNon-GAAP operating margin increased by 3 percentage points year over year\n\n\nGAAP net loss was $29.1 million, and GAAP net loss per share was $0.86, based on 34.0 million weighted-average shares outstanding\n\n\nNon-GAAP net loss was $8.7 million, and non-GAAP net loss per share was $0.26, based on 34.0 million weighted-average shares outstanding\n\n\nCash and cash equivalents were $79.9 million as of July 31, 2022\n\n\n“Domo is helping companies of all sizes leverage data across their organizations to increase revenue, improve efficiencies and drive better business outcomes — all at incredible speed,” said John Mellor, CEO, Domo. “We continue to optimize for long-term, sustainable growth, as we deliver speed-to-value to line-of-business decision makers and support our customers' success.”\n\nRecent Highlights\n\nWe believe the following announcements and recognition demonstrate our commitment to product innovation and customer value:\n\n\nDomo was named in the Leaders category in the 2022 IDC MarketScape for U.S. business intelligence and analytics (BIA) platforms for its speed to deployment, collaboration functionality and self-service analytics capabilities.\n\n\nDomo was also named a Leader in Nucleus Research’s 2022 Analytics Technology Value Matrix for the second consecutive year, recognized f...

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