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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 been recognized in the Constellation ShortList for Cloud-Based Business Intelligence and Analytics Platforms for Q3 2021. This marks the company's tenth placement on the list and sixth in the Cloud-based Business Intelligence sector. The Constellation ShortList evaluates over 25 solutions based on client inquiries, market share, and other factors. Domo's modern BI platform empowers users to rapidly convert data into insights, aiding businesses in making informed decisions that enhance competitiveness.
Domo (Nasdaq: DOMO) will present virtually at two upcoming conferences: the Deutsche Bank Virtual Technology Conference on September 9, 2021 at 3:50 PM ET and the Jefferies Software Conference on September 14, 2021 at 2:00 PM ET. The presentations will be available via live webcast on the Domo Investor Relations website. Domo is revolutionizing business management through its Domo Business Cloud, providing modern business intelligence and accelerating operational processes.
Domo, Inc. announced its fiscal second quarter results for the period ending July 31, 2021, reporting revenue of $62.8 million, a 23% increase year over year. Subscription revenue also grew by 23% to $54.7 million, representing 87% of total revenue. Billings rose 26%, totaling $60.0 million.
Remaining performance obligations reached $286.8 million, up 24%, with $183.1 million expected to convert to revenue in the next year. GAAP net loss was $22.2 million or $0.70 per share, while non-GAAP net loss was $9.6 million or $0.30 per share.
Domo (Nasdaq: DOMO) has been recognized as a Leader in The Forrester Wave™: Augmented BI Platforms, Q3 2021. The report emphasizes Domo's strengths in providing a low-code platform for business users and a rich array of augmented BI capabilities, including data science integrations. CEO Josh James highlighted this recognition as validation of their commitment to delivering value to customers and transforming business management through data innovation. Forrester evaluated 15 augmented BI providers across 25 criteria, underscoring Domo's competitive positioning.
Domo (Nasdaq: DOMO) announced that it will release its second quarter fiscal 2022 results on August 26, 2021, post-market closure. The company will hold a conference call at 3:00 p.m. MT/5:00 p.m. ET to discuss these financial results with investors. Registration for the call is available online, and a live webcast will be hosted on Domo’s Investor Relations website. A replay will also be accessible following the call until September 9, 2021. Domo offers the Domo Business Cloud, revolutionizing business management through modern business intelligence.
Domo (Nasdaq: DOMO) has been recognized as an overall leader in the 2021 Dresner Wisdom of Crowds® BI Market Study, achieving its fifth consecutive perfect recommendation score. The report assesses BI trends, adoption, and success metrics, highlighting Domo's strengths in Customer Experience and Vendor Credibility. The platform is praised for its speed, ease of integration, and robust support. This marks Domo's third top ranking in 2021, following accolades in both the Self Service and Cloud Computing BI Market Studies.
Domo (Nasdaq: DOMO) and JMills Entertainment received five Telly Awards for their collaboration on the Domopalooza 2021 Opening Keynote. Honors include a Gold Telly for Online General-Show Opening Segment and four additional awards across various categories. The Telly Awards recognize excellence in video and television, attracting over 12,000 entries globally. John Mellor, Domo's Chief Strategy Officer, emphasized the importance of delivering an exceptional virtual user experience. This recognition highlights Domo's commitment to innovation and excellence in business intelligence.
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