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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 key leadership promotions to support its ecosystem-led growth strategy. Jeff Skousen, former Chief Revenue Officer, has been promoted to President of Worldwide Sales and Field Operations. RJ Tracy, previously SVP of Partners, Strategic Development and Channel, will take on the role of Chief Revenue Officer.
These promotions aim to align partner and sales initiatives more closely. Tracy will focus on aligning strategic partner and sales initiatives, reporting to Skousen. Skousen will oversee sales operations, international growth, ecosystem initiatives, and consumption conversion. Both executives have extensive experience within Domo, with Tracy leading the expansion of the company's partner ecosystem and Skousen building the sales machine from the ground up.
Domo (Nasdaq: DOMO) has announced a significant leadership change. David Jolley will step down as Chief Financial Officer at the end of the company's third quarter due to personal health challenges, specifically severe eyesight issues. He will transition to a Senior Advisor role, continuing to support the executive team.
Tod Crane, currently SVP of Finance, will be promoted to Chief Financial Officer. Crane, who joined Domo in 2015, has held various finance leadership roles and has been working closely with Jolley across all aspects of financial operations and investor relationships.
CEO Josh James expressed gratitude for Jolley's contributions and confidence in Crane's ability to lead Domo's financial operations as the company focuses on its path back to growth.
Domo (Nasdaq: DOMO) released its fiscal Q2 2025 results, showing a 2% year-over-year decrease in total revenue to $78.4 million. Subscription revenue was $70.9 million, while billings decreased by 3% to $68.6 million. The company reported a GAAP net loss of $19.5 million, or $0.51 per share, and a non-GAAP net loss of $2.7 million, or $0.07 per share. Domo's cash position stood at $55.7 million as of July 31, 2024.
Despite financial challenges, Domo received recognition in several industry reports and awards. The company provided guidance for Q3 fiscal 2025, expecting revenue between $77.0-$78.0 million and a non-GAAP net loss per share between $0.14-$0.18. For the full fiscal year 2025, Domo projects revenue of $313.0-$315.0 million and a non-GAAP net loss per share between $0.69-$0.77.
Domo (Nasdaq: DOMO) has been recognized on three Constellation ShortLists for Q3 2024: Multicloud Analytics and Business Intelligence Platforms, Marketing Analytics Solutions (for the ninth consecutive year), and Embedded Analytics. These ShortLists, compiled by Constellation Research, highlight top vendors in different market categories based on early adopter feedback and independent analysis.
The recognition underscores Domo's value in providing data, BI, and analytics solutions across various use cases. Domo's platform offers real-time insights, secure and easy-to-use AI-powered innovations that drive business results for users at all levels. The company was evaluated alongside 25+ vendors in each category, meeting criteria such as multicloud delivery, containerization, data management capabilities, and AI/ML integration.
Domo (Nasdaq: DOMO) announced that Secil, a Portuguese manufacturing company, has chosen Domo as its global data platform to build a data lakehouse solution. Secil, with over 2,400 employees across four continents, primarily produces cement, concrete, and related materials. The company faced challenges with siloed and non-standardized data across various IT tools.
With Domo, Secil can now centralize storage, integrate tools for data quality, governance, transformation, and analytics. This move enables Secil to meet global market demands with greater agility and competitiveness. The platform allows Secil to capture, transform, and prepare real-time data from its global plants, create tailored apps, and leverage AI capabilities for simplified data navigation and value extraction.
Domo (Nasdaq: DOMO) has been named an Overall Leader in Dresner Advisory Services' Wisdom of Crowds® Industry Excellence Awards for the eighth consecutive year. The company excelled in both Customer Experience and Vendor Credibility models, receiving a perfect recommendation score for the eighth year running. Domo was recognized as best in class for product robustness, functionality completeness, technology reliability, component integration, usability, and ease of installation and upgrade.
In the new Value / TCO Model, Domo scored high in value and low on total cost of ownership. The company's CTO, Daren Thayne, emphasized their commitment to empowering businesses with actionable data and insights through AI-powered experiences. This recognition marks Domo's fifth Dresner distinction in 2024, reinforcing its position as a leader in the analytics and BI market.
Domo (Nasdaq: DOMO) has announced its 2024 Connections Tour across North America. The tour aims to provide hands-on technical training and in-person support for current and prospective customers. Key features include:
- Technical workshops on using Domo.AI as a personal data assistant
- Real-world use cases from Domo customers
- Product demos and networking opportunities
- Focus on unlocking business value with data and AI
The tour will visit 11 cities from September to October 2024, including Chicago, New York City, Toronto, Boston, Atlanta, Dallas, and San Francisco. Each event runs from 12:30 - 6:00 PM local time. Interested parties can sign up at www.domo.com/domo-connections-tour.
Domo (Nasdaq: DOMO) has announced an amendment to its existing debt facility, extending the maturity date to August 2028. The modification includes a reduction in both the overall interest rate and annual cash interest cost. David Jolley, Domo's CFO, emphasized the company's focus on returning to growth through strategic initiatives such as:
- Converting the customer base to a consumption-based pricing model
- Expanding go-to-market capabilities through partnerships
Jolley expressed satisfaction with the continued support from funds and accounts managed by BlackRock, stating that the amended terms are mutually beneficial. This modification is expected to allow Domo to invest in opportunities that the company believes will have the greatest impact on its business performance.
Domo (Nasdaq: DOMO) has announced the timing of its second quarter fiscal 2025 earnings conference call. The company will release its financial results for the quarter ended July 31, 2024, on Thursday, August 29, 2024, after the market closes. A conference call will be held at 3:00 p.m. (MT) / 5:00 p.m. (ET) to discuss the results with investors.
Interested parties can access the call via a live dial-in at (877) 484-6065 or (201) 689-8846. Additionally, a live webcast will be available on the Domo Investor Relations website. For those unable to attend, a replay will be accessible until September 27, 2024, at 11:59 p.m. (ET) using the access ID# 13748360.
Domo (Nasdaq: DOMO) has released a special AI-focused edition of its annual Data Never Sleeps (DNS) infographic. This report highlights the significant impact of AI on data generation and everyday life. Key findings include:
- $293,000 is spent globally on AI every minute
- 1,389 images are generated by Dall-E 2 every minute
- 19,028 images are created by other text-to-image platforms every minute
- 7,431 minutes of AI-generated video are created every minute
- 35 new cars with hands-free automation are sold each minute
- Employees save 467,882 hours of work using ChatGPT every minute
- 52 college papers are flagged for AI plagiarism on Turnitin every minute
- Up to 185 gallons of water are used to cool ChatGPT supercomputer every minute
The report emphasizes the growing influence of AI across various sectors and its resource requirements.
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