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Domo, Inc. (DOMO) is a leading company that provides a cloud-based platform aimed at optimizing business performance by connecting data, systems, and people within an organization. With an impressive backing of over $500 million from top-tier investors and spearheaded by seasoned professionals from renowned technology companies, Domo ensures real-time access to data and insights, empowering every employee from the CEO to the frontline workers.
The Domo platform serves as a subscription-based service, enabling users to manage their business operations from their smartphones. Key features include real-time notifications on any device, immediate actions on invitations, and seamless write-backs to the original systems of record. This innovative approach allows businesses to stay agile, make data-driven decisions, and improve overall efficiency.
Recent achievements include expanding their customer base and continuously enhancing their platform's capabilities to meet the evolving needs of modern businesses. Domo's partnerships with various industries highlight its versatility and effectiveness in diverse business environments.
Financially, Domo has shown steady growth, driven by its strong subscription revenue model and professional services. The company's focus on continuous improvement and customer satisfaction places it as a significant player in the cloud-based business intelligence sector.
Stay updated with the latest news and developments about Domo, Inc. to understand its impact on the business intelligence landscape and its potential for future growth.
Domo (NASDAQ: DOMO) has released its 12th annual 'Data Never Sleeps' report, highlighting digital activity trends across the internet's 5.52B users. The report reveals significant shifts in online behavior, with AI emerging as a major disruptor to traditional digital platforms. Google searches decreased by 6% to 5.9M per minute, while AI assistants like Siri handle over 1M queries per minute.
The report also shows evolving entertainment patterns, with Netflix streaming hours declining 19% since 2021, while platforms like TikTok and Snapchat experience substantial growth. In the digital workplace, collaboration tools remain crucial, with Microsoft Teams recording 229M meeting minutes per minute. E-commerce continues to thrive, with global shoppers spending $43.6M per minute during Cyber Week, while cybersecurity concerns persist with 4,080 records compromised every minute in data breaches.
Domo (Nasdaq: DOMO) has been awarded the 2024 KMWorld Readers' Choice Award for Best AI for its Domo.AI suite. The award, voted by enterprise leaders and decision-makers, recognizes Domo.AI's comprehensive AI solutions that enable streamlined model management and natural-language data analysis.
The platform offers users the ability to manage external AI models from providers like OpenAI, Databricks, Amazon Bedrock, and Hugging Face, while maintaining robust security and governance. According to Matthew Payne, VP of Engineering at Domo, the recognition validates their approach to delivering business intelligence and analytics through real-time AI-driven insights.
Domo.AI's features include contextualized insights, meaningful visualizations, and the flexibility to deploy models across apps and workflow engines, making AI capabilities accessible to a broader user base.
Domo (Nasdaq: DOMO) has announced a partnership with advisory firm Richey May to provide data-driven insights for mortgage banking clients. Over 80 mortgage bankers in Richey May's client base are currently utilizing Domo's data and AI platform. The partnership leverages Richey May's 40+ years of mortgage industry expertise combined with Domo's technical capabilities, including integrations, low/no-code offerings, and secure AI models.
Richey May has been using Domo as its data foundation since 2018, enabling the firm to offer modern analytics approaches and expand its services, including industry benchmarking. Through Domo's features like Domo Everywhere and Domo Publish, Richey May can aggregate and securely distribute industry reports to clients.
Domo announced its fiscal third-quarter results for the period ending October 31, 2024. Total revenue was $79.8 million, with subscription revenue at $71.1 million. Billings reached $73.4 million. Subscription RPO stood at $354.1 million, up 3% year over year, with $145.9 million expected to be recognized beyond twelve months, a 14% increase. Net cash used in operating activities was $13.7 million, and adjusted free cash flow was negative $13.8 million. GAAP operating margin was negative 14%, while non-GAAP operating margin was 3%. GAAP net loss was $18.8 million, or $0.48 per share. Non-GAAP net loss was $3.2 million, or $0.08 per share. Cash and cash equivalents were $40.9 million. CEO Josh James highlighted the company's focus on ecosystem-led growth and AI innovation. For Q4 fiscal 2025, Domo expects revenue between $77.5 million and $78.5 million, with a non-GAAP net loss per share of $0.13 to $0.17. For the full year, Domo projects revenue between $315.5 million and $316.5 million, with a non-GAAP net loss per share of $0.60 to $0.64.
Domo (Nasdaq: DOMO) has achieved the #1 ranking in Dresner Advisory Services' 2024 Analytical Platforms Report for the fourth consecutive year. The evaluation was based on confirmed functionality and user feedback, covering areas including data engineering, data catalog, self-service BI, data science, machine learning, embedded analytics, and cloud support.
This recognition marks Domo's seventh Dresner distinction in 2024, highlighting the company's strength in providing integrated technology environments for multiple analytical and business intelligence use cases. The platform focuses on enabling organizations to optimize their technology investments through simple integrations, accessible interactions, and intelligent automations.
Domo (Nasdaq: DOMO) has been named a leader in Nucleus Research's 2024 Embedded Analytics Technology Value Matrix for the fourth consecutive year. The evaluation focused on Domo Everywhere, highlighting its ability to embed analytics capabilities into applications, websites, and products. According to Nucleus Research interviews, customers achieved 10-35% time savings for analytics teams, 55-70% faster data request fulfillment, and a 300% increase in upsell adoption rates. The solution enables organizations to build customer-specific analytics, maintain brand consistency, and leverage AI-powered insights while reducing maintenance costs.
Domo (Nasdaq: DOMO) has announced a virtual event focused on demonstrating the capabilities of AI agents through its Domo.AI solution. The 60-minute session will showcase how organizations can leverage AI agents for operational excellence, customer engagement, and innovation.
The event will feature practical applications across industries, including solutions for customer support, fraud management, and product benchmarking. Speakers include Domo's leadership team and industry professionals from GUIDEcx and InformData. The virtual event is scheduled for December 4, 2024, at 11am MT.
Domo (Nasdaq: DOMO) has scheduled its third quarter fiscal 2025 earnings conference call for Thursday, December 5, 2024, following market close. The conference call will begin at 3:00 p.m. MT / 5:00 p.m. ET. Investors can join via live dial-in at (877) 484-6065 or (201) 689-8846, or through a webcast on Domo's Investor Relations website. A replay will be available until January 4, 2025, at (877) 660-6853 or (201) 612-7415 with access ID#13750075.
Domo (Nasdaq: DOMO) has announced an expanded partnership with VisionWrights, a data-driven consulting and implementation services provider. The collaboration aims to help customers implement cost-effective strategies and maximize returns on their data management technology investments, including AI solutions. VisionWrights specializes in assisting organizations with data-driven decision-making and technology implementation.
Domo (Nasdaq: DOMO) has been selected by Bond Vet as its global data technology platform. Bond Vet, a veterinary clinic chain with over 50 locations nationwide, will utilize Domo's AI-driven platform to streamline data management and enhance operational efficiency. The partnership aims to overcome previous challenges of managing disconnected data systems by implementing predictive analytics capabilities and user-friendly interfaces. This technology implementation will optimize performance across clinical operations, finance, marketing, business development, and customer service departments by providing real-time insights and improving decision-making processes.
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