Domo Announces Third Quarter Fiscal 2022 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 third quarter ended October 31, 2021.\n\nFiscal Third Quarter Results\n\n\nTotal revenue was $65.1 million, an increase of 21% year over year\n\n\nSubscription revenue was $56.6 million, an increase of 21% year over year\n\n\nSubscription revenue represented 87% of total revenue\n\n\nBillings were $70.2 million or 26% year-over-year growth\n\n\nRemaining Performance Obligations (RPO) was $296.9 million as of October 31, 2021, an increase of 19% year over year\n\n\nRPO expected to be recognized as revenue in the next twelve months was $190.6 million as of October 31, 2021, an increase of 24% year over year\n\n\nNet cash provided by operating activities was $0.03 million\n\n\nGAAP subscription gross margin was 81%, an improvement of 1 percentage point from Q3 FY21\n\n\nNon-GAAP subscription gross margin was 83%, an improvement of 2 percentage points from Q3 FY21\n\n\nGAAP operating margin declined by 3 percentage points year over year\n\n\nNon-GAAP operating margin improved by 6 percentage points year over year\n\n\nGAAP net loss was $28.5 million, and GAAP net loss per share was $0.88, based on 32.4 million weighted-average shares outstanding\n\n\nNon-GAAP net loss was $10.3 million, and non-GAAP net loss per share was $0.32, based on 32.4 million weighted-average shares outstanding\n\n\nCash and cash equivalents were $84.2 million as of October 31, 2021\n\n\n“We delivered strong results for the quarter, driven by continued market demand for our core modern BI solution and fueled by increasing demand for data-enabled apps to help our customers run their businesses on the Domo platform,” said Josh James, founder and CEO, Domo.\n\nRecent Highlights\n\nWe believe the following recognition and research demonstrate our commitment to product innovation, go-to-market initiatives and customer success:\n\n\nDomo was named a Leader in Nucleus Research’s 2021 Value Matrix for Embedded Analytics Technology.\n\n\nDomo was named to Inc.’s first annual Best-Led Companies list — a select, data-driven list of the very strongest U.S. firms with revenue of $50 million to $2 billion.\n\n\nDomo was named to Constellation Research's ShortList™ for Cloud-Based Business Intelligence and Analytics Platforms for Q3 2021 and for Marketing Analytics So...

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