DOMO Reports Q3 FY2024 Earnings Results Ending October 31, 2023

🌥️Earnings Overview

For Q3 FY2024, DOMO ($NASDAQ:DOMO) reported total revenue of USD 79.7 million, a 0.8% year-over-year increase, and net income of USD -16.4 million, an improvement from -23.7 million in the same period of the previous year ending October 31 2023.

Price History

DOMO reported its Q3 FY2024 earnings results on Thursday, ending October 31, 2023. The company’s stock opened at $10.0 and closed at $9.5, down by 1.1% from the previous closing price of 9.6. This was a slight decrease in DOMO’s stock performance, which has been steadily increasing since the beginning of this year. This increase in revenue was primarily driven by higher sales of its software products and services.

This was due to operating efficiencies and cost-saving initiatives taken by the company in the quarter. Overall, DOMO is optimistic about their future and expects to continue to show steady growth in the coming quarters. The company is committed to making strategic investments in order to meet customer demands and drive long-term value for shareholders. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Domo. DOMO_Reports_Q3_FY2024_Earnings_Results_Ending_October_31_2023″>More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Domo. DOMO_Reports_Q3_FY2024_Earnings_Results_Ending_October_31_2023″>More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Domo. DOMO_Reports_Q3_FY2024_Earnings_Results_Ending_October_31_2023″>More…

Key Ratios Snapshot

Some of the financial key ratios for Domo are shown below. DOMO_Reports_Q3_FY2024_Earnings_Results_Ending_October_31_2023″>More…

Analysis

At GoodWhale, we recently conducted an analysis of DOMO‘s financials. Our ‘Star Chart’ assessment revealed that DOMO was strong in terms of its growth, but weak in terms of its asset, dividend and profitability. Furthermore, our health score of 2/10 for the company’s cash flows and debt indicated that it is less likely to sustain future operations in times of crisis. Based on our analysis, we concluded that DOMO is classified as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. As such, investors who are looking for a high growth opportunity with some risk may be interested in investing in companies such as DOMO. 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

DOMO has seen a slight uptick in revenue over the past year, reaching USD 79.7 million in Q3 FY2024. Despite this increase, net income remained in the red at -16.4 million, though this was still an improvement from the -23.7 million reported the year before. Investors should watch closely to see if the company can continue to increase its revenue and turn a profit in the coming quarters and years. Nevertheless, with an overall trend of improvement in the past year, analysts remain optimistic for DOMO’s future prospects in the industry.