Domo, Inc. (NASDAQ: DOMO) reported Q3 EPS of ($0.85), $0.16 better than the analyst estimate of ($1.01). Revenue for the quarter came in at $44.8 million versus the consensus estimate of $41.81 million.

Fiscal Third Quarter Results

• Total revenue was $44.8 million, an increase of 22% year over year
• Subscription revenue was $37.8 million, an increase of 24% year over year
• Subscription revenue represented 85% of total revenue
• Billings were $44.4 million or 15% year-over-year growth
• Net cash used in operating activities was $19.5 million, an improvement of 36% year over year
• Adjusted net cash used in operating activities was $16.2 million, an improvement of 47% year over year
• Subscription gross margin was 76%, an improvement of 3 percentage points from Q3 FY19
• GAAP operating margin improved by 22 percentage points year over year
• Non-GAAP operating margin improved by 21 percentage points year over year
• GAAP operating expenses increased 6% year over year
• Non-GAAP operating expenses increased 5% year over year
• GAAP net loss was $29.1 million, and GAAP net loss per share was $1.05, based on 27.6 million weighted-average shares outstanding
• Non-GAAP net loss was $23.6 million, and non-GAAP net loss per share was $0.85, based on 27.6 million weighted-average shares outstanding
• Cash, cash equivalents and short-term investments were $115.9 million as of October 31, 2019

Comments"I am very pleased with our 24% subscription revenue growth and our execution in Q3, closing several of the largest deals in company history. We provide a differentiated solution that helps customers quickly, easily and securely put data to work at scale," said Josh James, Domo founder and CEO. "In Q3, we were once again able to make meaningful progress on reducing our cash burn, coming in well ahead of our guidance. Consistent with our previous statements, we remain committed to achieving cash flow positive status with the cash on our balance sheet and continue to be optimistic about the opportunity in front of us."

GUIDANCE:

Domo, Inc. sees Q4 2020 EPS of ($0.98)-($0.94), versus the consensus of ($0.98). Domo, Inc. sees Q4 2020 revenue of $45-46 million, versus the consensus of $43.91 million.

Domo, Inc. sees FY2020 EPS of ($3.92)-($3.88), versus the consensus of ($4.04). Domo, Inc. sees FY2020 revenue of $172.2-173.2 million, versus the consensus of $168.18 million.

Based on information available as of December 5, 2019, Domo is providing the following guidance for Q4 and full year fiscal 2020:

Q4 Fiscal 2020

• Revenue is expected to be in the range of $45.0 million to $46.0 million
• Non-GAAP net loss per share is expected to be between $0.94 and $0.98 based on 28.1 million weighted-average shares outstanding

Full Year Fiscal 2020

• Revenue is expected to be in the range of $172.2 million to $173.2 million
• Non-GAAP net loss per share is expected to be between $3.88 and $3.92 based on 27.5 million weighted-average shares outstanding

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