Domo (NASDAQ: DOMO) reported Q3 EPS of ($1.06), $0.32 better than the analyst estimate of ($1.38). Revenue for the quarter came in at $36.8 million versus the consensus estimate of $34.97 million.

• Total revenue was $36.8 million, an increase of 30% year over year
• Subscription revenue represented 83% of total revenue
• Billings were $38.8 million or 29% year-over-year growth
• Subscription gross margin was 73% compared to 60% in Q3 fiscal 2018
• GAAP operating margin improved by 73 percentage points year over year
• Non-GAAP operating margin improved by 77 percentage points year over year
• GAAP operating expenses decreased 10% year over year
• Non-GAAP operating expenses decreased 14% year over year
• GAAP net loss was $32.5 million, and GAAP net loss per share was $1.24, based on 26.3 million weighted-average shares outstanding
• Non-GAAP net loss was $27.9 million, and non-GAAP net loss per share was $1.06, based on 26.3 million weighted-average shares outstanding
• Cash and cash equivalents were $206.0 million

Comments"We executed very well in Q3 as our results show, and we expect that strong execution to continue into Q4 and into fiscal 2020," said Josh James, Domo founder and CEO. "Demand for our products and services continues to grow as enterprises around the globe embrace digital transformation and push our products deeper into their business processes. We have a very large multi-billion-dollar market opportunity in front of us. I’m incredibly proud of our team, the efficiencies they found, and their enormous contributions in helping us deliver on all our commitments."

"Q3 was another strong quarter for us," said Bruce Felt, CFO. "We continued to improve execution across all functions of the organization. We are pleased with the productivity gains from sales. As we displayed this quarter, we will continue to focus on realizing more out of our cost structure next quarter to drive growth."

GUIDANCE:

Domo sees FY2019 EPS of ($8.83)-($8.79), versus the consensus of ($9.53). Domo sees FY2019 revenue of $140.6-141 million, versus the consensus of $136.92 million.

For earnings history and earnings-related data on Domo (DOMO) click here.