DOMO Reports 5.5% Year-Over-Year Increase in Total Revenue for 2nd Quarter of FY2024

☀️Earnings Overview

For the second quarter of fiscal year 2024, which concluded on July 31 2023, DOMO ($NASDAQ:DOMO) reported total revenue of USD 79.7 million, a 5.5% increase from the same period in the prior year. Net income for the quarter improved to -16.1 million, compared to -29.1 million in the year prior. These results were released on August 24 2023.

Analysis

GoodWhale conducted an analysis of DOMO‘s wellbeing and found that the Star Chart showed that DOMO was strong in growth but weak in asset, dividend, and profitability. DOMO scored low on the health metric, with a score of 2 out of 10 for cashflows and debt, which indicates that it is less likely to sustain operations in times of crisis. From this, GoodWhale concluded that DOMO is classified as a ‘cheetah’ type of company; one that has achieved high revenue or earnings growth but is considered to be less stable due to its lower profitability. This type of company may be attractive to investors looking to take a risk and potentially obtain high returns, as well as investors who are looking for a long-term investment as they may benefit if the company manages to become more profitable. Those with a more conservative approach may prefer to invest in companies with higher levels of stability. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Domo. DOMO_Reports_5.5_Year-Over-Year_Increase_in_Total_Revenue_for_2nd_Quarter_of_FY2024″>More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Domo. DOMO_Reports_5.5_Year-Over-Year_Increase_in_Total_Revenue_for_2nd_Quarter_of_FY2024″>More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Domo. DOMO_Reports_5.5_Year-Over-Year_Increase_in_Total_Revenue_for_2nd_Quarter_of_FY2024″>More…

Key Ratios Snapshot

Some of the financial key ratios for Domo are shown below. DOMO_Reports_5.5_Year-Over-Year_Increase_in_Total_Revenue_for_2nd_Quarter_of_FY2024″>More…

Peers

In the business world, there is always competition. Domo Inc is no exception. It competes with other companies such as My Rewards International Ltd, Tintri Inc, and IntelliHR Ltd. While each company has its own strengths and weaknesses, they all strive to be the best in the industry. Domo Inc has an edge over its competitors because of its innovative technology and cutting-edge products. It is always looking for new ways to improve its products and services so that it can stay ahead of the competition.

– My Rewards International Ltd ($ASX:MRI)

Tintri Inc is a data storage company that specializes in providing solutions for virtualized environments. The company has a market cap of 675.02k and a ROE of 116.12%. Tintri’s products are designed to provide high performance, scalability, and ease of use for customers who are looking to improve their storage infrastructure. The company’s products are used by some of the world’s largest organizations, including Microsoft, Amazon, and Facebook.

– Tintri Inc ($OTCPK:TNTRQ)

IntelliHR Ltd is a provider of cloud-based human resources (HR) solutions. The company offers a suite of HR tools designed to help businesses manage their employee data, onboard new employees, and comply with HR regulations. IntelliHR’s solutions are used by businesses of all sizes, from small businesses to enterprise organizations.

The company has a market capitalization of 26.86 million as of 2022 and a return on equity of -55.59%. IntelliHR’s human resources solutions are used by businesses of all sizes to manage employee data, onboard new employees, and comply with HR regulations. The company’s cloud-based solutions offer a suite of HR tools that are designed to help businesses improve their HR processes.

Summary

Investors in DOMO have seen total revenue increase by 5.5% year-over-year to USD 79.7 million for their second quarter of FY2024, ending on July 31 2023. Net income also improved significantly from -29.1 million to -16.1 million. These results were reported on August 24 2023.

For investors, these are encouraging signs, particularly in light of the global economic uncertainty. This indicates that DOMO may be well-positioned for long-term success and should be an attractive investment option in the short and medium term.