Welcome to our dedicated page for Domo Class B news (Ticker: DOMO), a resource for investors and traders seeking the latest updates and insights on Domo Class B stock.
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 announces the appointment of Monica Pool Knox as Chief People Officer (CPO), aimed at enhancing its global Human Resources strategy. Pool Knox brings extensive experience from major tech firms like Microsoft and Twitter, focusing on developing high-performance organizations. She will report to CEO John Mellor and aims to foster a culture of excellence and data-driven decision-making. This strategic hire reflects Domo’s commitment to optimizing talent capabilities as it prepares for future growth.
Domo has released its 10th annual Data Never Sleeps infographic, highlighting a remarkable 1700% growth in digital engagement on platforms like Instagram and YouTube over the past decade. The report showcases a surge in digital connections, with Instagram users now posting approximately 66,000 photos per minute. However, not all platforms are thriving; Twitter has experienced a 40% decline in user posts year over year. Additionally, online spending has risen significantly, with Amazon shoppers spending $443,000 every minute. This underscores the critical role of data in a rapidly evolving digital landscape.
Domo (NASDAQ: DOMO) has announced that its partnership with Walker Edison achieved a remarkable ROI of 1670%, with payback within a month. This achievement was recognized with a Nucleus Research ROI Award, emphasizing Domo's ability to integrate real-time data into business operations. Walker Edison significantly improved inventory matching processes, saving $4M in lost revenue annually and enhancing data visualization capabilities from 30 to 10,000 metrics. Domo's platform implementation was 50% faster than competitors, demonstrating its effectiveness in driving revenue and operational efficiency.
Domo (Nasdaq: DOMO) has been recognized in the Q3 2022 Constellation ShortList for Cloud-Based Business Intelligence and Analytics Platforms for the seventh year in a row, and for Marketing Analytics Solutions for the eighth consecutive year. Constellation Research evaluates vendors based on client inquiries and market analysis. Domo's platform focuses on enabling rapid digital transformation for businesses, driven by data management and collaboration capabilities. This recognition highlights Domo's commitment to customer success in a competitive landscape.
Domo, Inc. (Nasdaq: DOMO) reported its fiscal second quarter results for the period ended July 31, 2022, revealing total revenue of $75.5 million, up 20% year over year. Subscription revenue reached $67.4 million, a 23% increase, comprising 89% of total revenue. Billings grew by 21% to $72.3 million, while Remaining Performance Obligations (RPO) rose to $349.1 million, up 22%. However, GAAP net loss was $29.1 million with a loss per share of $0.86. Domo expects Q3 revenue between $76 million and $77 million and full-year revenue of $305 million to $310 million.
Domo (NASDAQ: DOMO) has appointed Wendy Steinle as its new Chief Marketing Officer (CMO). Steinle previously spent over six years at Adobe, where she played a pivotal role in growing the Digital Experience business from $1.6B to over $3B in three years. Her extensive experience includes leading marketing efforts in partnership with Microsoft and overseeing customer success initiatives. Domo aims to enhance decision-making capabilities for its clients while fostering a vibrant employee culture under Steinle's leadership.
Domo (Nasdaq: DOMO) announced that its management will present at the 2022 Deutsche Bank Technology Conference on August 31, 2022, at 11:15 AM PT. The event will be accessible via a live webcast on Domo's Investor Relations website. Domo emphasizes transforming business through its low-code data app platform, which streamlines critical business processes, enabling optimization in days rather than months. For more information, visit www.domo.com.
Domo (NASDAQ: DOMO) will participate in the Gartner Data and Analytics Summit from August 22-24, 2022, in Orlando, Florida. The company is set to present three sessions that highlight its focus on enhancing data access to boost analytics and business intelligence (BI) adoption. Key sessions include demonstrations of analytics tools, AI/BI integration strategies, and insights from elite athletes on building high-performing data teams. Domo will also showcase its capabilities at booth #204, emphasizing its low-code data app platform designed for rapid business process optimization.
Domo (NASDAQ: DOMO) has been recognized in the Leaders category of the 2022 IDC MarketScape for U.S. business intelligence and analytics platforms, marking its first appearance in this report. The company stands out due to its speed to deployment, with the ability to implement solutions quickly and effectively across various business functions. This recognition reflects Domo's commitment to enabling organizations to leverage data for better decision-making. The IDC report assessed 16 BIA vendors, highlighting Domo's focus on meeting business user needs.
Lumio has appointed Carine Clark as Chief Innovation Officer, enhancing its leadership in personalized renewable energy. Clark, a seasoned executive with a track record in scaling tech companies, aims to drive Lumio's sustainable growth. Recognized for her contributions, she is also the Executive Chairman of Domo (Nasdaq: DOMO) and actively involved in various initiatives. Clark's leadership is expected to foster innovation and community engagement, aligning with Lumio's mission to decentralize energy production.
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