DOMA HOLDINGS Reports Second Quarter Earnings for FY2023
August 24, 2023
🌥️Earnings Overview
On August 8th 2023, DOMA HOLDINGS ($NYSE:DOMA) released their financial results for the second quarter of FY2023 that ended on June 30th 2023. Total revenue was USD 88.8 million, a decline of 28.2% from the same quarter of the prior year.
Market Price
On the news, the stock opened at $7.7 but closed at $7.4, down 4.8% from its last closing price of $7.8. This was a surprise to many investors, as DOMA HOLDINGS had been showing steady gains over previous weeks. While investors were disappointed by the drop in net income, they were encouraged by the strong balance sheet and increased net asset value. With continued focus on cost-cutting initiatives and further investments into new technologies, DOMA HOLDINGS is well-positioned to continue growing in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Doma Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 367.45 | -271.53 | -45.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Doma Holdings. More…
| Operations | Investing | Financing |
| -135.89 | -2.01 | -8.85 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Doma Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 291.27 | 280.61 | 0.8 |
Key Ratios Snapshot
Some of the financial key ratios for Doma Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.1% | – | -68.7% |
| FCF Margin | ROE | ROA |
| -42.4% | -558.1% | -54.2% |
Analysis
At GoodWhale, we recently conducted an analysis of DOMA HOLDINGS‘s financials. According to our Star Chart, DOMA HOLDINGS is strong in liquidity, medium in asset and weak in dividend, growth, and profitability. Their intermediate health score of 4/10 suggests that this company might be able to safely ride out any crisis without the risk of bankruptcy. After further inspection, we classified DOMA HOLDINGS as an ‘Elephant’, a type of company that is rich in assets after deducting off liabilities. Given its financials, this company may be attractive to investors who are looking to take advantage of stable cashflows or those who are more risk-averse. Furthermore, long-term investors who are confident in the company’s ability to grow despite any economic downturns may also see DOMA HOLDINGS as a good opportunity. More…
Peers
The company has a strong presence in Europe, North America, and Asia Pacific. The company’s competitors include Fonciere Volta SA, Mobiventures Inc, Nexity SA.
– Fonciere Volta SA ($LTS:0J79)
Fonciere Volta SA is a French real estate company with a market cap of 87.54M as of 2022. The company has a Return on Equity of 4.17%. The company’s main business activity is the ownership and management of office buildings in France.
– Mobiventures Inc ($OTCPK:MBLV)
The company’s market cap is 643.65k as of 2022. The company’s ROE is 212.89%. The company is engaged in the business of mobile entertainment and provides mobile entertainment products and services.
– Nexity SA ($LTS:0KB3)
Nexity SA is a French real estate company with a market cap of 1.13B as of 2022. The company has a return on equity of 8.57%. Nexity SA is involved in the development, construction, and management of real estate properties in France. The company also provides real estate services, such as brokerage, property management, and valuation.
Summary
DOMA HOLDINGS reported their second quarter earnings on August 8, 2023. Total revenue for the quarter was reported to be USD 88.8 million, a decrease of 28.2% year over year. Net income reported was USD -35.9 million, compared to -58.6 million in the same quarter of the previous year. Consequently, the stock price moved down the same day.
From an investment standpoint, the decrease in revenue and net income is concerning and investors should take this into consideration when making decisions regarding investing in DOMA HOLDINGS. It is important to analyze any further news related to the company and review the quarterly financials in order to assess the company’s future prospects.
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