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June 4, 2020, 5:03 p.m. EDT

Domo stock rallies 7% after software company narrows quarterly loss

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By Claudia Assis

DOMO

Domo Inc. /zigman2/quotes/205658425/composite DOMO -6.16% shares rose more than 7% in the extended session Thursday after the software company reported a narrower-than-expected loss in its fiscal second quarter and sales were above Wall Street expectations. Domo said it lost $24.9 million, or 88 cents a share, in the quarter, compared with a loss of $35.5 million, or $1.32 a share, in the year-ago period. Adjusted for one-time items, the company lost $18.4 million, or 65 cents a share, in the quarter, compared with a loss of $1.08 a share a year ago. Revenue rose 19% to $48.6 million, Domo said. Analysts polled by FactSet had expected a GAAP loss of 91 cents a share on sales of $46 million. Domo said it ended the quarter with $88 million in cash and cash equivalents, and guided for fiscal second-quarter sales in a range between $48.5 million and $49.5 million, and an adjusted loss between 48 cents and 52 cents. "We are pleased we could help the governors of three states have access to the actionable data they need to manage through the current health crisis," founder and Chief Executive Josh James said in a statement, without naming the states. "We are now applying the same capabilities to the private sector to help them manage their employee base and help them safely get back to work with apps and solutions built on our platform to address this specific opportunity." Domo ended the regular trading day down 7%.

/zigman2/quotes/205658425/composite
US : U.S.: Nasdaq
$ 35.63
-2.34 -6.16%
Volume: 525,919
July 10, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.09 billion
Rev. per Employee
$177,415
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