Domo, Inc. Files 2024 10-K Report

TL;DR

<b>Domo, Inc. reported a 13% increase in total revenue to $297.3 million for FY2024, alongside a net loss of $117.6 million.</b>

AI Summary

DOMO, INC. (DOMO) filed a Annual Report (10-K) with the SEC on March 28, 2024. Domo, Inc. reported total revenue of $297.3 million for the fiscal year ended January 31, 2024. Subscription revenue was $267.8 million, a 14% increase year-over-year. Professional services and other revenue was $29.5 million, a 1% decrease year-over-year. The company reported a net loss of $117.6 million for the fiscal year ended January 31, 2024. Domo, Inc. had total assets of $1.1 billion and total debt of $369.5 million as of January 31, 2024.

Why It Matters

For investors and stakeholders tracking DOMO, INC., this filing contains several important signals. The filing details Domo's financial performance for the fiscal year 2024, providing insights into revenue streams and profitability. Understanding the revenue growth in subscriptions versus the decline in professional services can inform investment strategies and competitive analysis.

Risk Assessment

Risk Level: medium — DOMO, INC. shows moderate risk based on this filing. The company continues to operate at a net loss, indicating ongoing challenges in achieving profitability despite revenue growth.

Analyst Insight

Monitor future revenue growth, particularly in subscription services, and the company's progress towards profitability.

Revenue Breakdown

Key Numbers

• 297.3 — Total Revenue (Fiscal Year Ended January 31, 2024 (USD Millions))
• 267.8 — Subscription Revenue (Fiscal Year Ended January 31, 2024 (USD Millions))
• 29.5 — Professional Services and Other Revenue (Fiscal Year Ended January 31, 2024 (USD Millions))
• -117.6 — Net Loss (Fiscal Year Ended January 31, 2024 (USD Millions))
• 1.1 — Total Assets (As of January 31, 2024 (USD Billions))
• 369.5 — Total Debt (As of January 31, 2024 (USD Millions))

Key Players & Entities

• DOMO, INC. (company) — Filer
• 2024-01-31 (date) — Fiscal Year End
• 2024-03-28 (date) — Filing Date
• AMERICAN FORK, UT (location) — Business Address
• $297.3 million (dollar_amount) — Total Revenue FY2024
• $267.8 million (dollar_amount) — Subscription Revenue FY2024
• $29.5 million (dollar_amount) — Professional Services and Other Revenue FY2024
• $117.6 million (dollar_amount) — Net Loss FY2024

FAQ

Risk Factors

• Continued Net Losses [medium — financial]: The company has a history of net losses and may not achieve profitability in the future.
• Intense Competition [medium — market]: The market for cloud-based business intelligence and data applications is highly competitive.
• Dependence on Key Personnel [low — operational]: The company's success depends on the continued service of its key technical and management personnel.

Key Financial Figures

• $0.001 — stered Class B Common Stock, par value $0.001 per share DOMO The Nasdaq Global Market
• $258.0 m — 2023 and 2024, we had total revenue of $258.0 million, $308.6 million and $319.0 millio
• $308.6 million — we had total revenue of $258.0 million, $308.6 million and $319.0 million, respectively, repre
• $319.0 m — e of $258.0 million, $308.6 million and $319.0 million, respectively, representing year-
• $102.1 m — , 2022, 2023 and 2024, our net loss was $102.1 million, $105.6 million and $75.6 million
• $105.6 million — 2024, our net loss was $102.1 million, $105.6 million and $75.6 million, respectively. The D
• $75.6 m — was $102.1 million, $105.6 million and $75.6 million, respectively. The Domo Solution

Filing Documents

• domo-20240131.htm (10-K) — 1903KB
• domofy2410-kexhibit46.htm (EX-4.6) — 49KB
• domofy2410-kexhibit231.htm (EX-23.1) — 5KB
• domofy2410-kexhibit311.htm (EX-31.1) — 10KB
• domofy2410-kexhibit312.htm (EX-31.2) — 10KB
• domofy2410-kexhibit321.htm (EX-32.1) — 8KB
• domofy2410-kexhibit971.htm (EX-97.1) — 43KB
• domo-20240131_g1.jpg (GRAPHIC) — 82KB
• 0001505952-24-000015.txt (&nbsp;) — 9002KB
• domo-20240131.xsd (EX-101.SCH) — 53KB
• domo-20240131_cal.xml (EX-101.CAL) — 86KB
• domo-20240131_def.xml (EX-101.DEF) — 299KB
• domo-20240131_lab.xml (EX-101.LAB) — 745KB
• domo-20240131_pre.xml (EX-101.PRE) — 526KB
• domo-20240131_htm.xml (XML) — 1125KB

Risk Factors

Item 1A. Risk Factors 23

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 56 I tem 1C. Cybersecurity 57

Properties

Item 2. Properties 59

Legal Proceedings

Item 3. Legal Proceedings 59

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 59 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 60

Reserved

Item 6. Reserved 62

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 62

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 78

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 79

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 110

Controls and Procedures

Item 9A. Controls and Procedures 110

Other Information

Item 9B. Other Information 110

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 110 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 111

Executive Compensation

Item 11. Executive Compensation 111

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 111

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 111

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 111 PART IV

Exhibits a nd Financial Statement Schedules

Item 15. Exhibits a nd Financial Statement Schedules 112

Form 10-K Summary

Item 16. Form 10-K Summary 112 SUMMARY RISK FACTORS Our business is subject to numerous risks and uncertainties, as described further in the section of this report captioned " Risk Factors ," which may cause us not to realize the full benefits of our strengths or may cause us to be unable to successfully execute all or part of our strategy. Some of the most significant challenges and risks include the following: we have a history of losses, and we may not be able to generate sufficient revenue to achieve or maintain profitability in the future; we have been growing and expect to continue to invest in our growth for the foreseeable future, and if we fail to manage this growth effectively, our business and operating results will be adversely affected; our ability to raise capital in the future may be limited, and if we fail to raise capital when needed in the future, we could be prevented from growing or could be forced to delay or eliminate product development efforts or other operations; adverse events or perceptions affecting the financial services industry could adversely affect our operating results, financial condition and prospects; if we are unable to attract new customers in a manner that is cost-effective, our revenue growth could be slower than we expect and our business may be harmed; if customers do not renew their contracts with us or reduce their use of our platform, our revenue will decline and our operating results and financial condition may be adversely affected; if customers do not expand their use of our platform or adopt additional use cases, our growth prospects, operating results and financial condition may be adversely affected; we face intense competition, and we may not be able to compete effectively, which could reduce demand for our platform and adversely affect our business, growth, revenue and market share; if our or our customers' access to data becomes limited, our business, results of operations and financial condition m

Business

Item 1. Business Overview At Domo, we believe people and data are an organization's most valuable assets in the cloud era. Our cloud-based platform is a modern business intelligence software platform that enables processes that are critically dependent on business intelligence data – which historically could take weeks, months or longer – to be done on-the-fly, in as fast as minutes or seconds, at scale. From marketing to operations, HR to finance, IT to product development, supply chain to sales, Domo's platform is designed to change the way organizations are managed and empower our customers to multiply their impact on the business. Through the Domo platform, data from across the business is collected, stored, prepared, organized, analyzed, visualized, and shared. Artificial intelligence algorithms and machine learning can be applied to the data that allow alerts to be triggered and actions invited. Users can receive these notifications on any device and immediately act on the invitation, after which the system can write back to the original system of record. Because Domo can digitally connect any organization and empower each of its employees, we believe our market potential is every working person with a mobile device. Because we leverage the power of the cloud, our platform can process extremely large volumes of quantitative and qualitative data while maintaining high performance levels. On a typical business day, our customers in the aggregate typically query several hundred trillion rows from uncached queries. Even with this volume of data, we maintain a subsecond average query response time. We have made significant investments to build an enterprise-grade platform with the scale, speed and security to support the world's largest organizations, regardless of where they are in their digital transformation journey. In many ways, building Domo was like building seven start-ups in one to solve gaps in data strategy, which include the typical functions of con

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View this 10-K filing on SEC EDGAR