Domo, Inc. (NASDAQ: DOMO) announced fourth quarter financial results ended January 31st, 2019. Revenue for the fourth quarter was USD 39.4 Million, increased 31% compared to a year prior. Subscription revenue was 81% of total revenue. Billings were USD 57.2 Million or 26% year over year growth. Gross margins for subscriptions was 74%.
For FY Fiscal 2019, the company reports USD 142.5 Million, increasing 31% year over year. Gross margins for subscriptions was 72% compared to 63% a year ago.
“We executed very well in Q4 as our results show, while also delivering on our commitment to drive efficiencies in our sales and marketing spend, and we expect that strong execution to continue into fiscal 2020,” said Josh James, Domo founder and CEO. “We continue to see an enormous market opportunity in front of us as we push further into organizations, while enabling customers to unleash data across the business with the speed, security and scale IT demands. I’m particularly pleased with our people and their performance delivering more than 30% growth in revenue while lowering operating expenses 11%.”
“Q4 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 and marketing. We plan to continue to grow the business while improving efficiencies and we continue to be committed to achieving cash flow positive with the cash we have on hand.”
Josh James commented, “I’d like to thank Glenn for his contributions as a Domo board member over the years, particularly when it came to understanding how to leverage the nuances of our financial model, recruiting of executive management, financings, and insights into how to more effectively operate the business. I’m thrilled to welcome Carine and am confident that Domo will benefit from her strength in enterprise software marketing, sales and channel. I’m looking forward to working with her and having her as a member of our board.”
Domo’s mission is to be the operating system for business, digitally connecting all your people, your data and your systems, empowering them to collaborate better, make better decisions and be more efficient, right from their phones. Domo works with many of the world’s leading and most progressive brands across multiple industries including retail, media and entertainment, manufacturing, finance and more. For more information about Domo (Nasdaq: DOMO), visit www.domo.com. You can also follow Domo on Twitter, Facebook and LinkedIn.