Shares of Domo (NASDAQ:DOMO) were up 21% as of 3:30 p.m. EDT Thursday, after the company, which provides a cloud-based operating system for businesses, announced strong fiscal fourth-quarter 2019 results.
More specifically, Domo's revenue climbed 31% year over year to $39.4 million, translating to an adjusted (non-GAAP) net loss of $25 million, or $0.94 per share. Analysts, on average, were expecting a much larger net loss of $1.24 per share on lower revenue of $37.8 million.
Subscription revenue comprised 82% of Domo's total this quarter, and billings climbed 28% to $165.4 million. But perhaps most encouraging, the company simultaneously saw operating expenses decline by 11%.
"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," stated Domo founder and CEO Josh James.
Check out the latest earnings call transcript for Domo.
Looking ahead to the current full fiscal year 2020, Domo expects revenue of $173 million to $174 million, and an adjusted net loss per share of between $3.99 and $4.07. Here again, even the low ends of both ranges were well above Wall Street's consensus prediction for a loss of $4.27 per share on revenue of $170 million.
In the end, given Domo's relative outperformance in the fourth quarter and its strong outlook for the coming year, it's no surprise to see the stock rallying in response today.