Cloud-based data provider Domo Q2 revenue beats expectations
Overview
Domo fiscal Q2 revenue of $79.7 mln beats analyst expectations
Company reports first positive non-GAAP EPS of $0.02
Subscription RPO increased 19% yr/yr, indicating strong future revenue potential
Outlook
Domo sees Q3 revenue between $78.5 mln and $79.5 mln
Domo expects Q3 non-GAAP net loss per share of $0.03 to $0.07
Domo forecasts full-year revenue of $316 mln to $320 mln
Domo anticipates full-year non-GAAP net loss per share of $0.11 to $0.19
Result Drivers
SUBSCRIPTION RPO GROWTH - Subscription Remaining Performance Obligations increased by 19% year over year, reaching $409.8 mln
RECORD OPERATING MARGIN - Domo achieved a record non-GAAP operating margin of 8%, an increase of 5 percentage points yr/yr
POSITIVE EPS - Domo reported its first-ever positive non-GAAP EPS of $0.02, driven by accelerating ACV and strong subscription RPO
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $79.72 mln | $78 mln (6 Analysts) |
Q2 Net Income | -$22.93 mln | ||
Q2 Billings | $70.30 mln | ||
Q2 Gross Profit | $59.64 mln | ||
Q2 Operating Expenses | $66.89 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Domo Inc is $18.00, about 10.5% above its August 26 closing price of $16.11
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