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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 announced new integrations with Microsoft 365 and Teams to enhance collaboration and data accessibility. These updates allow users to embed Domo data insights within common Microsoft applications, ensuring real-time data synchronization and intuitive usability. Notably, the Domo Teams integration enables interactive sharing and notifications directly within Teams. Daren Thayne, CTO of Domo, emphasized the importance of these tools in today's collaborative work environment. This initiative aims to empower users with immediate access to reliable data for informed decision-making.
Domo (NASDAQ: DOMO) released a Total Economic Impact™ study by Forrester, revealing organizations using its low-code data platform can achieve a remarkable ROI of 455% over three years, recouping investments in under a month. The study reported $16.04 million in benefits and $3.4 million profit from the sales enablement app. Additional savings totaled $3.5 million from procurement and $2.9 million from accounts receivable. Qualitative benefits include improved visibility, data consistency, and quicker integration of new data sources.
Domo has been recognized as a Challenger in the 2022 Gartner Magic Quadrant for Analytics and Business Intelligence platforms, marking its second consecutive appearance in this category.
This recognition is attributed to Domo's completeness of vision and ability to execute. The company boasts a 94% recommendation rate based on 72 customer reviews. CEO John Mellor emphasized Domo's capability to enhance digital transformation through data apps that integrate data with workflow to improve organizational efficiency.
Domo introduces Data Apps, a suite of low-code tools designed to democratize data access across organizations. Unlike traditional business intelligence, these apps cater to all employees, enhancing data-driven decision-making. Research indicates that over 80% of enterprise decision-makers currently underutilize BI tools. Domo aims to bridge this gap by allowing users to create personalized applications quickly. The launch includes four accelerators for retail and financial services to improve operational efficiency and customer insights. Additional platform updates enhance data integration and governance capabilities.
A new study from Domo reveals a significant gap in data decision-making among organizations, with 55% of respondents indicating no change in decision processes despite increased data investments. Key issues include a lack of understanding of data access and usage, disconnected BI tools, and insufficient training. Notably, 70% of personal needs are supported by effective apps, while 52% of business needs lack similar support. The study warns that this gap may lead to future data bottlenecks, urging companies to adopt better data tools for informed decision-making.
Domo (Nasdaq: DOMO) has announced a new collaboration with Moss Adams, a leading accounting and consulting firm. This partnership will enhance Moss Adams' ability to implement Domo’s analytics platform, promoting efficient data processes for clients. By utilizing Domo's Business Intelligence (BI) solutions, Moss Adams aims to automate manual tasks, enabling real-time data insights that drive business value. Upcoming insights from Moss Adams will be shared at Domopalooza 2022 on March 23, highlighting the operational benefits of leveraging advanced analytics.
Domo (Nasdaq: DOMO) is set to host a virtual investor session as part of Domopalooza 2022 on March 24, 2022, at 10:30 AM MT/12:30 PM ET. This event aims to provide insights for investors and financial analysts, which will be accessible via live webcast on Domo's Investor Relations website. Domo continues to redefine business management with its Business Cloud platform and aims to deliver Modern BI for All™. For further details about Domo's offerings, visit www.domo.com.
Domo (Nasdaq: DOMO) will present at the JMP Securities Technology Conference on March 8, 2022, at 12:00pm PT, and at the Morgan Stanley Technology, Media and Telecom Conference on March 9, 2022, at 3:00pm PT. A live webcast of these presentations will be accessible on Domo's Investor Relations website. Domo is committed to transforming business management with its Business Cloud solutions, enabling rapid and scalable processes. For more details, visit Domo's Investor Relations page.
Domo, Inc. reported fiscal Q4 2022 results with total revenue of $70.0 million, up 23% y-o-y. Subscription revenue was $59.6 million, marking a 19% increase. Billings reached $108.0 million, growing 30% y-o-y. Remaining Performance Obligations stood at $339.0 million, with $221.7 million expected to be recognized as revenue in the next year. However, the GAAP net loss was $33.3 million ($1.01 per share). For fiscal 2023, Domo forecasts revenue between $314.0 million to $319.0 million and a non-GAAP net loss per share of $1.43 to $1.53.
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