Domo Inc Cl B (DOMO) said after close Thursday that it lost $0.17 per share in quarter one 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $79.5 million, beating estimates by $588 thousand.
In the same quarter a year ago, the company lost $0.23 per share on revenue of $74.5 million.
The stock is down 11.50% to $13.13 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Domo Inc Cl B a Bearish Sentiment Rank from InvestorsObserver.
Domo Inc Cl B has performed a little above average during the past few months. Before the report, Domo Inc Cl B received a Long-Term Technical Rank by InvestorsObserver of 69, putting it in the top half of stocks. The firm set a 52-week low on January 20, 2023 at $11.35 and set a 52-week high on August 11, 2022 at $35.43.
Domo Inc provides a cloud-based platform that digitally connects all the data, systems and people in an organization, giving them access to real-time data and insights and allowing them to manage their business from their smartphones. The company offers a platform to its customers as a subscription-based service. Users receive notifications on any device and immediately act on the invitation, after which the system can write back to the original system of record. The company derives revenue primarily from subscriptions to its cloud-based platform and professional services.
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Domo Inc Cl B Down 11.50% To $13.13 After Earnings Meet
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