Shares of Domo (NASDAQ:DOMO) have popped today, up by 10% as of 12 p.m. EDT, after the company reported fiscal second-quarter earnings. Domo delivered a textbook beat-and-raise.
Revenue in the fiscal second quarter came in at $51.1 million, topping the consensus estimate of $49 million. That resulted in an adjusted net loss of $10.7 million, or $0.37 per share, which was better than the $0.50 per share in adjusted net losses that analysts were expecting. Billings increased 23% to $47.6 million.
"Domo was built for this new world of work where business agility is imperative to surviving and thriving," CEO Josh James said in a statement. "Since our IPO, we have been relentlessly focused on growing our business, while at the same time making our growth more efficient and driving to cash flow positive with the cash on our balance sheet."
The business intelligence tech company also offered a rosy forecast for the coming quarters. Revenue in the fiscal third quarter is expected to be in the range of $51.2 million to $52.2 million, compared to the $49.4 million in sales that Wall Street is modeling for. That should result in an adjusted net loss per share of $0.42 to $0.46.
Domo also raised its full-year guidance, with fiscal 2021 revenue forecast at $202.2 million to $206.5 million, up from a prior range of $194 million to $200 million. That should result in an adjusted net loss per share of $1.83 to $1.91 for the full year. Analysts were expecting $197.2 million in sales this fiscal year.