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Jul 31, 2022
Domo Q2 2023 Earnings Report
Domo's financial performance for the second quarter of fiscal year 2023 showed revenue growth and improvements in subscription gross margin.
Key Takeaways
Domo reported a 20% year-over-year increase in total revenue, reaching $75.5 million, with subscription revenue growing by 23% to $67.4 million. The company's billings increased by 21% year-over-year, and Remaining Performance Obligations (RPO) rose by 22%. Domo is focused on optimizing for long-term, sustainable growth and delivering speed-to-value to customers.
Total revenue increased by 20% year-over-year, reaching $75.5 million.
Subscription revenue grew by 23% year-over-year, totaling $67.4 million and representing 89% of total revenue.
Billings increased by 21% year-over-year.
Remaining Performance Obligations (RPO) increased by 22% year-over-year.
Domo
Domo
Domo Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services & Other Revenue
CapyFin.com Forward Guidance
Domo is providing revenue and non-GAAP net loss per share guidance for Q3 Fiscal 2023 and full year Fiscal 2023.
Positive Outlook
- Q3 Fiscal 2023 revenue is expected to be in the range of $76.0 million to $77.0 million.
- Q3 Fiscal 2023 non-GAAP net loss per share is expected to be between $0.23 and $0.27 based on 34.4 million weighted-average shares outstanding.
- Full Year Fiscal 2023 revenue is expected to be in the range of $305.0 million to $310.0 million.
- Full Year Fiscal 2023 non-GAAP net loss per share is expected to be between $0.88 and $0.96 based on 34.1 million weighted-average shares outstanding.
Revenue & Expenses
Visualization of income flow from segment revenue to net income