Domo shares rise after software company beats revenue expectations
Shares of Domo Inc. rose 1.3% in the extended session Thursday after the cloud-based data-analytics software company reported a wider-than-expected second-quarter loss but beat on revenue. Domo said it lost $46.4 million, or $4.41 a share, in the quarter, compared with a loss of $43.5 million, or $27.27 a share, in the year-ago period. Adjusted for one-time items, Domo lost $36.2 million, or $3.44 a share, compared with a loss of $25.77 a share a year ago. Revenue rose 32% to $34.3 million. Analysts polled by FactSet had expected a loss of $4.01 a share on sales of $32 million. Domo went public in late June, raising about $193 million. The IPO raised concerns then due to its declining revenue, large deficit and lack of shareholder voting rights. "The IPO has given us the capital needed to successfully execute our business plan. We are well positioned for future growth," founder and Chief Executive Josh James said in a statement Thursday. Domo expects revenue between $136.7 million and $137.1 million in 2018, and an adjusted per-share loss between $9.50 and $9.55. The shares ended the regular session up 3.9%.
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