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SILICON SLOPES, Utah--(BUSINESS WIRE)--Dec 5, 2024-- Domo, Inc. (Nasdaq: DOMO) today announced results for its fiscal third quarter ended October 31, 2024. Fiscal Third Quarter Results “Our focus on ecosystem-led growth, consumption-based contracts and AI innovation is paying off with promising momentum, as we see more demand for Domo as an anchor technology in customers’ data stacks,” said Josh James, founder and CEO, Domo. “The data and AI landscape is evolving to create new market opportunities for Domo, and we feel confident we’re in the right position to capitalize on this moment.” Recent Highlights We believe the following announcements and recognition demonstrate our commitment to product innovation and customer value: Business Outlook Based on information available as of December 5, 2024, Domo is providing the following guidance for its fourth quarter of fiscal 2025 and full year fiscal 2025: Q4 Fiscal 2025 Full Year Fiscal 2025 We have not reconciled guidance for non-GAAP metrics to their most directly comparable GAAP measures because certain items that impact these measures are not within our control or cannot be reasonably predicted. Earnings Call Details Domo plans to host a conference call today to review its fiscal 2025 third quarter financial results and to discuss its financial outlook. The call is scheduled to begin at 3:00 p.m. MT/ 5:00 p.m. ET. A live webcast of the event will be available on the Domo Investor Relations website at https://www.domo.com/ir and a live dial-in is available at (877) 484-6065 or (201) 689-8846. A replay will be available at (877) 660-6853 or (201) 612-7415 with the access ID#13750075 following the completion of the conference call until 11:59 p.m. (ET) January 4, 2025. About Domo Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with user-friendly dashboards and apps. Underpinned by AI, data science and a secure data foundation that connects with existing cloud and legacy systems, Domo helps companies optimize critical business processes at scale and in record time to spark the bold curiosity that powers exponential business results. For more information, visit www.domo.com . You can also follow Domo on LinkedIn , X and Facebook . Domo Disclosure Channels to Disseminate Information Domo investors and others should note that we announce material information to the public about our company, products and services, and other issues through a variety of means, including Domo’s website, press releases, filings with the U.S. Securities and Exchange Commission (SEC), blogs and social media, in order to achieve broad, non-exclusionary distribution of information to the public. We intend to use the Domo Facebook page , the Domo LinkedIn page , the Domo blog , the @Domotalk X account and the @JoshJames X account as a means of disclosing information about the Company and its services and for complying with the disclosure obligations under Regulation FD. The information we post through these social media channels may be deemed material. Accordingly, we encourage investors and others to monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described here may be updated from time to time as listed on our investor relations webpage. Use of Non-GAAP Financial Measures To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP), we reference in this press release and the accompanying tables the following non-GAAP financial measures: non-GAAP subscription gross margin, non-GAAP operating expenses, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss, non-GAAP net loss per share, billings, and adjusted free cash flow. In computing the measures other than billings and adjusted free cash flow, we exclude the effects of stock-based compensation expense, amortization of certain intangible assets, severance of executive officers who report to the Chief Executive Officer, loss on extinguishment of debt, and remeasurement of warrant liability. Billings is defined as total revenue plus the change in deferred revenue in a period. In computing adjusted free cash flow, we exclude the effects of proceeds from shares issued in connection with the employee stock purchase plan, purchases of property and equipment, and net change in short-term payable financing. As it relates to adjusted free cash flow, we add back amounts equal to the proceeds from shares issued in connection with employee stock purchase plan to reflect the non-cash nature of these transactions. Because no cash is exchanged in these transactions, showing proceeds in the financing section of the statement of cash flows as required by GAAP results in a corresponding decrease in the operating section, which management believes is not indicative of actual cash used in or provided by our operations. We also add back the net change to short-term payable financing to adjusted free cash flow. We believe that this non-GAAP cash metric is useful because it provides investors with the same information that management uses to consistently evaluate, forecast and measure the Company’s actual cash flows and its ability to achieve and maintain positive cash flows. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our ongoing core business operating results. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods. For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Reconciliation of Non-GAAP Financial Measures" included at the end of this release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements of our Chief Executive Officer, statements regarding competitive positions, our financial outlook for our fourth fiscal quarter, and results for future periods. Forward-looking statements are subject to risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings with the SEC, including, without limitation, the Annual Report on Form 10-K filed with the SEC on March 28, 2024 and the Quarterly Report on Form 10-Q for the quarter ended October 31, 2024 expected to be filed with the SEC on or about December 10, 2024. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update this information unless required by law. Domo is a registered trademark of Domo, Inc. 2023 2024 2023 2024 $ 71,293 $ 71,113 $ 213,594 $ 214,144 8,382 8,651 25,211 24,130 79,675 79,764 238,805 238,274 11,523 13,334 33,588 39,410 7,253 6,627 22,847 21,389 18,776 19,961 56,435 60,799 60,899 59,803 182,370 177,475 40,262 37,194 124,464 116,040 19,729 21,264 63,931 65,952 12,130 12,429 35,509 42,504 72,121 70,887 223,904 224,496 (11,222 ) (11,084 ) (41,534 ) (47,021 ) - (1,850 ) - (1,850 ) (4,930 ) (5,622 ) (14,549 ) (14,805 ) (4,930 ) (7,472 ) (14,549 ) (16,655 ) (16,152 ) (18,556 ) (56,083 ) (63,676 ) 261 205 801 582 $ (16,413 ) $ (18,761 ) $ (56,884 ) $ (64,258 ) $ (0.45 ) $ (0.48 ) $ (1.59 ) $ (1.68 ) 36,310 38,832 35,812 38,243 $ 670 $ 784 $ 1,958 $ 2,389 359 295 1,311 942 6,364 4,754 19,260 15,238 4,621 4,038 14,214 12,529 4,174 3,080 10,642 12,075 181 210 516 603 $ 16,369 $ 13,161 $ 47,901 $ 43,776 $ 20 $ 142 $ 60 $ 426 $ - $ - $ 443 $ - - - 1,553 - $ - $ - $ 1,996 $ - $ - $ 455 $ - $ 33 2024 2024 $ 60,939 $ 40,925 67,197 57,177 16,006 15,288 9,602 7,083 153,744 120,473 27,003 27,937 11,746 10,108 19,542 17,420 2,740 2,267 9,478 9,478 1,407 2,528 $ 225,660 $ 190,211 $ 4,313 $ 8,403 43,430 58,392 4,807 5,506 185,250 153,919 237,800 226,220 11,135 8,125 2,736 3,311 14,001 8,151 113,534 115,574 379,206 361,381 37 39 1,252,200 1,298,596 (180 ) 56 (1,405,603 ) (1,469,861 ) (153,546 ) (171,170 ) $ 225,660 $ 190,211 Domo, Inc. 2023 2024 2023 2024 $ (16,413 ) $ (18,761 ) $ (56,884 ) $ (64,258 ) 1,636 2,254 4,738 7,117 1,063 1,142 3,235 3,320 4,398 4,454 13,354 13,181 16,369 13,161 47,901 43,776 - 1,850 - 1,850 - 456 - 33 1,072 2,390 3,643 4,334 (3,022 ) (8,489 ) 23,750 10,020 (4,016 ) (4,524 ) (10,921 ) (10,328 ) 291 1,543 (173 ) 1,819 998 (11,655 ) (966 ) (152 ) (1,237 ) (1,392 ) (4,054 ) (4,000 ) (608 ) 10,238 (3,361 ) 6,073 (4,856 ) (6,368 ) (23,124 ) (30,756 ) (4,325 ) (13,701 ) (2,862 ) (17,971 ) (2,714 ) (2,515 ) (9,214 ) (7,245 ) - - (26 ) - (2,714 ) (2,515 ) (9,240 ) (7,245 ) - (402 ) - (402 ) 1,374 789 3,406 1,910 - (296 ) - (504 ) - 52,758 - 52,758 - (53,177 ) - (53,177 ) - 6,190 - 8,972 - (4,536 ) - (4,536 ) 62 - 65 - 1,436 1,326 3,471 5,021 (862 ) 111 (482 ) 181 (6,465 ) (14,779 ) (9,113 ) (20,014 ) 63,852 55,704 66,500 60,939 $ 57,387 $ 40,925 $ 57,387 $ 40,925 2023 2024 2023 2024 $ 71,293 $ 71,113 $ 213,594 $ 214,144 11,523 13,334 33,588 39,410 59,770 57,779 180,006 174,734 84 % 81 % 84 % 82 % 670 784 1,958 2,389 $ 60,440 $ 58,563 $ 181,964 $ 177,123 85 % 82 % 85 % 83 % $ 72,121 $ 70,887 $ 223,904 $ 224,496 (15,159 ) (11,872 ) (44,116 ) (39,842 ) (20 ) (142 ) (60 ) (426 ) - - (1,996 ) - $ 56,942 $ 58,873 $ 177,732 $ 184,228 $ (11,222 ) $ (11,084 ) $ (41,534 ) $ (47,021 ) 16,188 12,951 47,385 43,173 20 142 60 426 - - 1,996 - $ 4,986 $ 2,009 $ 7,907 $ (3,422 ) (14 )% (14 )% (17 )% (20 )% 20 17 19 19 - - 1 - 6 % 3 % 3 % (1 )% $ (16,413 ) $ (18,761 ) $ (56,884 ) $ (64,258 ) 16,369 13,161 47,901 43,776 20 142 60 426 - - 1,996 - - 1,850 - 1,850 - 455 - 33 $ (24 ) $ (3,153 ) $ (6,927 ) $ (18,173 ) $ (0.45 ) $ (0.48 ) $ (1.59 ) $ (1.68 ) 0.45 0.34 1.34 1.15 — — 0.06 — — 0.05 — 0.05 — 0.01 — — $ — $ (0.08 ) $ (0.19 ) $ (0.48 ) $ 79,675 $ 79,764 $ 238,805 $ 238,274 158,522 153,919 158,522 153,919 4,236 3,311 4,236 3,311 (164,882 ) (161,601 ) (182,273 ) (185,250 ) (2,732 ) (1,997 ) (3,609 ) (2,736 ) (4,856 ) (6,368 ) (23,124 ) (30,756 ) $ 74,819 $ 73,396 $ 215,681 $ 207,518 $ (4,325 ) $ (13,701 ) $ (2,862 ) $ (17,971 ) 1,374 789 3,406 1,910 (2,714 ) (2,515 ) (9,214 ) (7,245 ) - 6,190 - 8,972 - (4,536 ) - (4,536 ) $ (5,665 ) $ (13,773 ) $ (8,670 ) $ (18,870 ) View source version on businesswire.com : https://www.businesswire.com/news/home/20241205261989/en/ CONTACT: Media – Cynthia Cowen PR@domo.comInvestors – Peter Lowry IR@domo.com KEYWORD: UTAH UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT DATA ANALYTICS TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE INTERNET SOURCE: Domo, Inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205261989/enShare Tweet Share Share Email The U.S. Department of Justice sought a second antitrust victory against Google on Monday, presenting its last defence that the firm unlawfully controlled online advertising technology. TakeAway Points: In an attempt to secure a second antitrust victory against Google, the U.S. Department of Justice presented its last defence on Monday, claiming that the firm unlawfully controlled online advertising technology. Google has argued prosecutors are bending U.S. antitrust law to force it to accommodate competitors’ services and that the case is focused on incidents from years past when Google was still building and improving its offerings Zoom had more profit and revenue than analysts had expected in the October quarter, and executives pushed up the company’s full-year forecast. US antitrust lawsuit against Google comes to an end The closing arguments in Alexandria, Virginia, cap a 15-day trial held in September where prosecutors sought to show Google monopolized markets for publisher ad servers and advertiser ad networks, and tried to dominate the market for ad exchanges which sit between buyers and sellers. “Google rigged the rules of the road,” said DOJ lawyer Aaron Teitelbaum, who asked the judge to hold Google accountable for anticompetitive conduct. Google has argued prosecutors are bending U.S. antitrust law to force it to accommodate competitors’ services, and that the case is focused on incidents from years past when Google was still building and improving its offerings. Publishers testified at trial that they could not switch away from Google, even when it rolled out features they disliked, since there was no other way to access the huge advertising demand within Google’s ad network. News Corp. in 2017 estimated losing at least $9 million in ad revenue that year if it had switched away, one witness said. If U.S. District Judge Leonie Brinkema finds that Google broke the law, she would consider prosecutors’ request to make Google at least sell off Google Ad Manager, a platform that includes the company’s publisher ad server and its ad exchange. Google offered to sell the ad exchange this year to end an EU antitrust investigation but European publishers rejected the proposal as insufficient, as reported in September. Analysts view the ad tech case as a smaller financial risk than the case where a judge ruled Google maintains an illegal monopoly in online search and where prosecutors have argued the company must be forced to sell its Chrome browser. Zoom surpasses expectations and calls for another quarter of single-digit growth Zoom shares were down 4% in extended trading on Monday after the video calling software maker announced strong fiscal third-quarter results and gave quarterly guidance that was just slightly above expectations. According to LSEG consensus, Earnings per share : $1.38 adjusted vs. $1.31 expected, while revenue: $1.18 billion vs. $1.16 billion expected Zoom’s revenue grew about 4% year over year in the quarter, which ended on Oct. 31, according to a statement . Zoom has increased revenue in the single digits for two and a half years, a sharp departure from 2020 and 2021, when the COVID-19 pandemic led the business to triple in size. Net income, at $207.1 million, or 66 cents per share, was up from $141.2 million, or 45 cents per share, in the same quarter a year earlier. The company reported 192,400 enterprise customers in the quarter, up 800 customers from the previous quarter. With respect to guidance, Zoom called for $1.29 to $1.30 in fiscal fourth-quarter adjusted earnings per share on $1.175 billion to $1.180 billion in revenue. Analysts surveyed by LSEG were expecting $1.29 per share and $1.17 billion in revenue. Expectations for next year Zoom bumped up its view for the 2025 fiscal year. It expects $5.41 to $5.43 in adjusted earnings per share, with $4.656 billion to $4.661 billion in revenue. The middle of the revenue range implies about 3% growth. LSEG’s consensus was $5.35 per share on revenue of $4.64 billion. In August, Zoom said it was looking for $5.29 to $5.32 per share and revenue between $4.63 billion and $4.64 billion. During the quarter, Zoom said in the first half of 2025 it will release a premium custom AI companion that could connect to corporate glossaries and services such as ServiceNow and Workday. Zoom also started offering single-use webinar options, with room for up to one million attendees. As of Monday’s close, Zoom stock was up about 24% this year, while the S&P 500 index had gained 25%. The company also said its corporate name is changing from Zoom Video Communications to Zoom Communications Inc. “This change reflects our evolution into an AI-first work platform for human connection and our vision for long-term growth,” Zoom’s founder and CEO Eric Yuan said on a conference call with analysts. Related Items: Antitrust trial , Google , Online Ad , zoom Share Tweet Share Share Email Recommended for you Apple And Google May Face Competition Investigation In UK DOJ Demands That Google Discontinue The Chrome Browser DuckDuckGo Calls Google For Additional Investigation Into Tech Rule Compliance Comments
Intact Financial Corp. stock falls Wednesday, underperforms market
Trump viewed the stock market as a report card in his first term and watched its performance closely. A negative reaction by the market to his policies could prompt a re-think by the administration. One market strategist says new tariffs could spur a negative stock-market reaction. With President-elect Donald Trump set to begin his second term in January, the stock market could be an important check on the decisions he ultimately makes. Trump's ability to enact new policies has been greatly enhanced with Republicans in full control of Congress, and he's already been exerting pressure on lawmakers to fall in line with his agenda. Those members of Congress appear keen to play ball . The market, therefore, might be an important counterbalance to Trump's control of Washington. If his past tenure as president is any indication, he will be alert and sensitive to negative market reactions to his policies. During Trump's first term, he showed that he viewed the stock market as a real-time indicator of how he was doing, taking credit when it was up and diverting blame when it was down . Trump "demonstrated a keen focus on the stock market as a 'scorecard' for his administration's success," Mark Malek, chief investment officer at Siebert, told Business Insider. Perhaps the best example of this came on March 13, 2020. Trump sent the late Fox News host Lou Dobbs an autographed Yahoo! Finance chart of the Dow Jones Industrial Average, which had soared nearly 2,000 points that day in response to Trump declaring COVID-19 a national emergency . The moment demonstrated how Trump views the market's relationship to the president's performance, and observers say it's possible that if he were to announce or enact policies that spark a sharp decline in stocks, he could adjust his approach. Yardeni Research strategist Eric Wallerstein told Business Insider that certain policies that would add to the fiscal deficit and send bond investors into a panic might qualify as an event that could prompt a rethink from the administration. "Yields would blow out, the stock market would respond unkindly to that, and then maybe he would reverse course." That view echoed Jeremy Siegel's, with the Wharton professor noting shortly after the election that the President-elect will probably tread lightly when it comes to the markets. "Both the bond market and the stock market are going to be really big constraints on many of Trump's programs," Siegel said. This dynamic is top of mind for investors heading into next year given that some of Trump's campaign promises, like mass deportations of immigrants and universal tariffs of 10%-20% on imports, could be met with dismay by stock investors. That's because economists say the proposals could spark a rebound in inflation and limit the Federal Reserve's ability to keep cutting interest rates. "The market reaction is likely to be quite negative to a significant ratcheting up of tariffs," Sonu Varghese, global macro strategist at Carson Group, told Business Insider. "President Trump probably sees the stock market as a report card on his performance, and so presumably, a negative reaction in markets may prompt a tempering of proposals." For his part, Trump has said that his proposals would not influence US prices. "I am going to put tariffs on other countries coming into our country, and that has nothing to do with taxes to us. That is a tax on another country," he said in an August speech. There's another reason the stock market could serve as one of the few checks on Trump's power while in office next year: swings in the market could impact his own wealth. "Given Bloomberg's estimate of his net worth at approximately $6 billion, it is reasonable to assume that a portion of his wealth is sensitive to market movements. This financial exposure may further incentivize him to avoid policies that could destabilize the markets," Malek said. So, if Trump ultimately wants to see the stock market rise during his presidency, his campaign promises of massive tariffs and immigrant deportations may have to be watered down to avoid the collateral damage, sources said. "I think any president wants to enact policies that are good for the markets," Wallerstein said. Read the original article on Business Insider
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