DOMO Reports Q2 FY2024 Earnings Results for Period Ending July 31 2023
September 6, 2023
🌥️Earnings Overview
For the second quarter of fiscal year 2024 ending July 31 2023, DOMO ($NASDAQ:DOMO) reported total revenue of USD 79.7 million, reflecting a 5.5% year-over-year increase. Net income was USD -16.1 million, an improvement of -13 million compared to the prior year period.
Stock Price
DOMO reported its earnings results for the quarter ending July 31 2023 on Thursday, revealing a slight decrease in stock prices. Analysts have said that the slight decrease in stock prices was expected given the current market conditions, and that DOMO’s overall financial performance remains strong. Looking ahead, industry experts are optimistic that quarterly earnings results will continue to remain steady and that DOMO’s share prices will rise again soon. domo&utm_title=DOMO_Reports_Q2_FY2024_Earnings_Results_for_Period_Ending_July_31_2023″>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Domo. domo&utm_title=DOMO_Reports_Q2_FY2024_Earnings_Results_for_Period_Ending_July_31_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 317.78 | -84 | -26.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Domo. domo&utm_title=DOMO_Reports_Q2_FY2024_Earnings_Results_for_Period_Ending_July_31_2023″>More…
| Operations | Investing | Financing |
| -7.85 | -11.11 | 2.09 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Domo. domo&utm_title=DOMO_Reports_Q2_FY2024_Earnings_Results_for_Period_Ending_July_31_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 212.1 | 363.94 | -4.25 |
Key Ratios Snapshot
Some of the financial key ratios for Domo are shown below. domo&utm_title=DOMO_Reports_Q2_FY2024_Earnings_Results_for_Period_Ending_July_31_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.6% | – | -20.4% |
| FCF Margin | ROE | ROA |
| -6.0% | 26.8% | -19.1% |
Analysis
GoodWhale has conducted an analysis of DOMO’s financials using our Star Chart tool. According to our findings, the company has a low health score of 2/10 in terms of cashflows and debt, suggesting it is less likely to ride out any crisis without the risk of bankruptcy. Furthermore, DOMO is strong in growth, and weak in asset, dividend, and profitability. As a result, we have classified them as a ‘cheetah’ type of company; one that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this information, investors who are looking for riskier opportunities with higher potential rewards may be interested in DOMO. This includes venture capitalists and angel investors who focus on start-ups and growth stage companies. Other potential investors could be hedge funds looking for high returns or those with a higher risk tolerance. Investing in such companies also carries greater risk, so it is important to consider all factors before investing. domo&utm_title=DOMO_Reports_Q2_FY2024_Earnings_Results_for_Period_Ending_July_31_2023″>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 analyzing DOMO stock may be pleased with the company’s Q2 FY2024 financials. Total revenue increased 5.5% compared to the same period in the previous year, while net income improved by -13 million. This marks a positive direction for the company, and investors may be encouraged to maintain or increase their holdings. It should be noted that the net income remained in negative territory, so potential investors should research further to ensure they understand the company’s financial position.
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