Domo, Inc. announced its financial results for the fiscal third quarter ended October 31, 2024, reporting total revenue of $79.764 million, which was essentially flat compared to $79.675 million in the prior year period. Subscription revenue slightly decreased to $71.113 million from $71.293 million year-over-year, while professional services revenue increased by 3.2% to $8.651 million.
The company reported a GAAP net loss of $18.761 million, or $(0.48) per share, compared to a net loss of $16.413 million, or $(0.45) per share, in Q3 FY24. Non-GAAP net loss per share was $(0.08), which exceeded the company's guidance. Billings for the quarter were $73.396 million, a decrease from $74.819 million in Q3 FY24.
Despite the billings decline, Domo reported positive strategic momentum, with subscription Remaining Performance Obligations (RPO) growing 3% year-over-year and long-term RPO increasing 14% year-over-year. The average contract length across the customer base increased by 13%, and 100% of new logo deals in Q3 were structured as consumption contracts, now representing 55% of ARR.
For the fourth quarter of fiscal 2025, Domo expects GAAP revenue between $77.5 million and $78.5 million, and a non-GAAP net loss per share between $0.03 and $0.07. Full-year fiscal 2025 guidance projects GAAP revenue between $312 million and $320 million, with a non-GAAP net loss per share between $0.18 and $0.26.
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