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Oct 31, 2022
Domo Q3 2023 Earnings Report
Domo announced its financial results for the third quarter of fiscal year 2023, showing revenue growth and improvements in subscription gross margin and operating margin.
Key Takeaways
Domo's Q3 2023 saw a 21% year-over-year increase in total revenue, reaching $79.0 million. Subscription revenue grew by 22% to $69.0 million, representing 87% of total revenue. The company also reported a GAAP net loss of $23.7 million, or $0.69 per share, and a non-GAAP net loss of $4.5 million, or $0.13 per share.
Total revenue increased by 21% year-over-year to $79.0 million.
Subscription revenue increased by 22% year-over-year to $69.0 million, representing 87% of total revenue.
GAAP operating margin improved by 15 percentage points year-over-year.
Remaining Performance Obligations (RPO) increased by 19% year-over-year to $354.3 million.
Domo
Domo
Domo Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services & Other Revenue
CapyFin.com Forward Guidance
Domo is providing the following guidance for its fourth fiscal quarter and full year fiscal 2023:
Positive Outlook
- Revenue is expected to be in the range of $77.0 million to $78.0 million for Q4 Fiscal 2023
- Non-GAAP net loss per share is expected to be between $0.07 and $0.11 based on 34.7 million weighted-average shares outstanding for Q4 Fiscal 2023
- Revenue is expected to be in the range of $306.0 million to $307.0 million for Full Year Fiscal 2023
- Non-GAAP net loss per share is expected to be between $0.68 and $0.72 based on 34.1 million weighted-average shares outstanding for Full Year Fiscal 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income