Domo, Inc. (DOMO) Tops Q1 EPS by 17c, Revenues Beat; Offers 2Q & FY22 EPS Guidance Above Consensus, Affirms 2Q Revs. Outlook Above Consensus

Domo, Inc. (NASDAQ: DOMO) reported Q1 EPS of ($0.26), $0.17 better than the analyst estimate of ($0.43). Revenue for the quarter came in at $60.1 million versus the consensus estimate of $57.49 million.

Fiscal First Quarter Results

• Total revenue was $60.1 million, an increase of 24% year over year
• Subscription revenue was $52.1 million, an increase of 23% year over year
• Subscription revenue represented 87% of total revenue
• Billings were $58.2 million or 25% year-over-year growth
• Remaining performance obligations (RPO) was $284.3 million as of April 30, 2021, an increase of 24% year over year
• RPO expected to be recognized as revenue in the next twelve months was $180.8 million as of April 30, 2021, an increase of 22% year over year
• Net cash used in operating activities was $2.7 million, while adjusted net cash provided by operating activities was $1.4 million
• GAAP subscription gross margin was 83%, an improvement of 4 percentage points from Q1 FY21
• Non-GAAP subscription gross margin was 83%, an improvement of 4 percentage points from Q1 FY21
• GAAP operating margin improved by 20 percentage points year over year
• Non-GAAP operating margin improved by 24 percentage points year over year
• GAAP net loss was $18.1 million, and GAAP net loss per share was $0.58, based on 31.0 million weighted-average shares outstanding
• Non-GAAP net loss was $8.0 million, and non-GAAP net loss per share was $0.26, based on 31.0 million weighted-average shares outstanding
• Cash and cash equivalents were $84.8 million as of April 30, 2021

"With a record Q1 across many metrics including new business and retention, our performance this quarter puts us in a great position to execute well for the remainder of FY22," said Josh James, founder and CEO, Domo. "On average we’ve been growing our billings 25%. I think it’s wonderful we achieved that growth profile the last four quarters, and I’m excited to see what we can deliver in the future."

GUIDANCE:

Domo, Inc. sees Q2 2022 EPS of ($0.39)-($0.35), versus the consensus of ($0.43). Domo, Inc. sees Q2 2022 revenue of $60-61 million, versus the consensus of $59.74 million.

Domo, Inc. sees FY2022 EPS of ($1.41)-($1.33), versus the consensus of ($1.54). Domo, Inc. sees FY2022 revenue of $246-252 million, versus the consensus of $246.03 million.

Based on information available as of May 27, 2021, Domo is providing the following guidance for its second fiscal quarter and full year fiscal 2022:

Q2 Fiscal 2022

• Revenue is expected to be in the range of $60.0 million to $61.0 million
• Non-GAAP net loss per share is expected to be between $0.35 and $0.39 based on 31.8 million weighted-average shares outstanding

Full Year Fiscal 2022

• Revenue is expected to be in the range of $246.0 million to $252.0 million
• Non-GAAP net loss per share is expected to be between $1.33 and $1.41 based on 31.9 million weighted-average shares outstanding

For earnings history and earnings-related data on Domo, Inc. (DOMO) click here.

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