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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) announced that its AI solutions suite, Domo.AI, has been named a finalist in the Business Intelligence or Analytics category of the 2024 SaaS Awards. The SaaS Awards recognize innovative software-as-a-service solutions across 56 categories. Domo.AI was selected for its ability to streamline AI model management and help businesses implement AI across organizations with proper security and governance.
Matthew Payne, VP of Engineering at Domo, stated that Domo.AI represents the next evolution of business intelligence, delivering fast, intuitive AI-powered data experiences. Domo.AI allows customers to merge their data with AI capabilities, making it easier to register and manage external AI models from providers like OpenAI, Databricks, Amazon Bedrock, and Hugging Face. These models can be leveraged in apps, workflow engines, or Magic ETL, empowering users and driving business impact.
Domo (Nasdaq: DOMO) has partnered with CARET Legal, a leading SaaS platform for legal professionals, to provide real-time analytics and a holistic view of law firm performance. This collaboration aims to empower thousands of law firms with immediate access to key insights on business health, including:
- Pre-bill amounts for future revenue forecasting
- Employee resource allocation for efficient staffing
- Clarity on aging receivables to streamline collections
The partnership also advances strategic operations by surfacing relevant data to improve budgeting, prioritize high-value cases, enhance client acquisition strategies, and optimize fee structures. Domo and CARET Legal plan to release new analytics functions for customizable data experiences across firms.
Domo (Nasdaq: DOMO) has partnered with Brooklyn Data Co., a leading data consultancy, to simplify data management and deliver actionable intelligence faster for joint users. As a Snowflake Elite Services Partner, Brooklyn Data leverages Domo's platform to provide real-time connections across customers' data sources, enabling data-driven decisions and improved outcomes.
The collaboration utilizes Domo's flexible AI services and Snowflake's AI Data Cloud to streamline data integration, enhance analytics, and optimize resource allocation. James Colvin, VP of Engineering at Brooklyn Data, highlighted Domo's all-in-one platform as a key differentiator for unlocking insights across organizations. RJ Tracy, Domo's CRO, emphasized the importance of connecting data to maximize tech investments and focus on strategic action.
Domo (Nasdaq: DOMO), an Oracle PartnerNetwork member, will present at Oracle CloudWorld 2024 and SuiteWorld 2024 in Las Vegas. The company will showcase its collaboration with Oracle in delivering AI-enhanced data analytics, connectivity, and operational efficiencies.
As a Silver sponsor of CloudWorld and Gold sponsor of SuiteWorld, Domo will highlight new capabilities that address challenges in integrating financial data from multiple sources. Key presentations include:
- Mohammed Aaser, Domo's CDO, speaking on building high-impact data teams at CloudWorld on September 11, 2024
- Kristine Friday, Principal Business Consultant, discussing NetSuite and Domo integration at SuiteWorld on September 12, 2024
Attendees can visit Domo at Booth #26 at CloudWorld and Booth #901 at SuiteWorld for more information.
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.
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