DOMO - Earnings call transcript Q4 2021

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Operator

Ladies and gentlemen, thank you for standing by. And welcome to Domo's Fourth Quarter Fiscal Year 2021 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. that, Vice the President with Peter over And Domo's Lowry, of Instructions] I'll call hand to [Operator Investor Relations.

Peter Lowry

welcome. and afternoon, Good

On statement CFO; have CEO; we will Julie? lead Chief the our our Julie on call and Safe to with Founder call. Harbor Communications Josh Officer. Bruce then Julie and James, our off Kehoe, and our Felt, today, the

Julie Kehoe

Pete. Thanks,

this financial is release of statements posted under after our a call variety our close, of is statements the where our about impact on to our including Investor statements our financial and are issued on subject the this Our Securities business the was Federal go-to-market expectations webcast. and press related being business our assumptions. section conditions. initiatives, expectations COVID-XX strategy, and the Relations website, These on business and for Statements sales projections, of call plans also market Laws, to for made and uncertainties our forward-looking include risks, new

These documents statements. factors filed quarterly report discussion cause our contained our forward-looking and a annual documents uncertainties, in to please SEC, the release, those in risks of XX-K today's and the press on with file Form other Form differ and identify important results recently on most risk particular, information actual contain XX-Q. and our recently may we report that our refer materially filed most to from these For

we to our and discussing non-GAAP to it be in measures results we isolation supplemental measures not as of than a in measures measures In Please on otherwise Josh. revenue, Other our addition, most in you to measure. Josh. refer we as me With These will for GAAP from to addition useful hand considered basis. directly over our during press believe let Domo's that, are substitute non-GAAP GAAP non-GAAP be today's to should operations release a financial discuss tables of stated, the comparable the which call, of non-GAAP for will performance. financial reconciliation earnings results. a Over or unless

Josh James

dedication, creativity for family we front grateful thank in And normal. today. an in customers resulting outstanding the our team, the what good Well, I'm Julie. about us health. and to society, is in on I resolve everyone. last on every entire optimistic support our all call in that who hope joining member of everyone XX-months to our was back I'm hello, the really the the for over found business, our you, recovery year. as macro getting focus and that's of Thanks

quarters performance. QX, am four revenue Domo's so growth and and had Domo. growth. decade tremendous to our people. of team, work QX quarter billings really total XX% many we capped I a XX% and a Now year, posted XX% and breakout the so of proud revenue really from In growth, We from subscription

to embracing ever, unbelievable and all In are the cases, transformation data their cloud, machines from many end want and faster at users. an business, QX, see now belief existing last quarters, at it XX% value And and QX. leverage the at proposition QX, billings their started that in that grew of BI growth over we've So, QX, excited do I'm as BI in priority into investments, also, in up a XXXX. ourselves accelerated. enter fiscal massive in scale helping has top acceleration. customers that well, into remain this And that really it modern IT year, squarely fits seen And we Transformation execute Digital the set over parts than to to of in XX% XX% speed. that's for four XX% spending year. new a in to beyond for demand our businesses initiatives we

by examples for deliver temperature distribution. data compliance, units, and vaccine the manage becoming sensors the chain cold a customer way, safe more housing XX-days. we And connecting these are example, other IoT vaccines. This that COVID an As controlled manufacturer and effectively in more solution is data to closely refrigeration monitor normal. regulatory CDC And equipment to to less for than them needed

Just between consumer, last customer a to is week, let and to company reached CIO insurance ecstatic the view true how insurance out to the a of the service this data us aggregated this carrier. million numbers, Domo. insurance first All seen, with they They're in orgs, analyzed bring agency this only million that to and across as industry's the dynamically over Domo representing insurance us are insurance with entire insurance proactively cloud experience, is create know innovating said creating together different some helping company this data, $XXX of force And X XX us, premium. beginning. rows is to Domo the connections, he by presented over XXX put of Domo. new To sales

BI. any put much building consolidation effectively. We work resulting finally been unique point, as market is new introduced was been now come but to more of in this capabilities Domo's also to only many us a make space, place we've not coming copied Domo rankings. and seen on markets seen dramatically we've as finally, better recognizing front vision. data And leadership it our taking the we by moving our future that's to have others, direction, our we've several the of To And value. in in seeing in and analyst out easier that of to the our to recognition model improved product modern in with fruition that building We're way for this

Gartner moves and the into business Magic for our business, in across to and certainly scale, IT the Quadrant of and to This the preparation, platforms. put This of Domo the will improved record recognition an to of our XXXX line in in leaders on data analytics particularly and at capability data areas gives So, quality data intelligence business. for business. work important have the Quadrant is which manageability, the Gartner ever more Magic due the competence products, of in ranking time challenger entire impact quadrant instance,

of to executives, to scale BI our really that sales we're easy-to-use line at leverage go-to-market, Given finding delivering end-to-end record that cloud time to our reputation our tailwind believe solutions our should business a a of message efforts. capabilities be in On resonate. for appeal we delivering continues full

also throughout but addition, of our organizations, and Tickle, by Kowalski, Ian In by sales and U.S. led many Jim sales other Asia. led leadership leaders Europe Jim's sales Jeff's Jeff in and by our Skousen and led also leaders

in also in reached year-over-year. This we better put resulting And really cash cadence operating has operating positive cash much performance, milestone rigor position us free and sales we force our were course, financially. Our better flow of throughout adjusted strong fact, in that top-line in driving business productivity down flow QX. have positive QX achieved significantly in year. QX. improved, I'm expenses while We new our a and proud sales the the

We of year $XXX also with customers, in strong also X,XXX million cash $XX the our and more than than bank. ended with the We've across solution. million Everywhere more more of ARR than made Domo progress

them experience Everywhere customers' analytics. helps new to and heading them our outside of in we suppliers. Now north of And fiscal Last 'XX. we with a $XXX,XXX, Everywhere customers they have and just strong revenue and streams, Domo that deals It the very Domo embedded seven figure allows customers, of also this that organizations, customers, than full their offering value data of pipeline creating already new in extend helping deliver to monetizing two Domo closed a by XX is partners their data their year XXX fact, isn't data Everywhere, them our with have. that more contracts. over deals Domo year, of were experiences

the for solution highlights. at. wins improve a was the to continued the let and seven strong upsell looked help customer experience. by growth, We now right to enterprise significant a other existing any One their they driven So, continued and highlight QX talk the count some get figure won me solve about at faster new to across analytics the were with this global companywide expansion people data because health was QX customers. business right than deal we and integration better issues, organization able data patient of

it data take with time Domo, run weeks making seconds. getting them every now And right this data. used Before to the and the process to Domo, of wanted they together actionable,

highlight health products Another generation seven was market to next a figure a partner Domo's deal bringing is that with apps. intelligent with

we've the of a self-service delivered which culture. as in to use vaccine makers to sector, expansions public because a more creating value a logo the governments, than expansion at entire to proud analytics outside Domo retailer. provide and omni-channel new leading significant more worth support record support a more with driven deal we Additionally, their demonstrated we COVID insights state business. goal to was POC their state also resulted $XXX,XXX, new Domo well. after We to ACV the of won of cases. deliver could company, across CEO's had wins data a which distribution. action-oriented chosen in agile we We also has We're $XXX,XXX signed won, speed decision around plus and a

experience and the segments. all support new at Domo, corporation. data analytics, with of won geographies, all we contract of deal one of a the to of XXs with this largest their prior across of offline uniform We a visibility Additionally, point transparency their sale nation's logo of their dozens restaurant across sales and XXXXs media of We from all executives deal brands, systems, franchises won this with C-level groups. Fortune-XXX online of of and deliver a won

over to let offense. on XX-months. about we financial offense. you, And able focus our me do mindset to And it's very shift, We'll we're well we're talk years. we're some We've We'll really playing finally to it me for excited plans invest and last it how playing much We've year. responsibly. start the to let defense get of for a a been last about And think few be diligently. now the tell But about it. position, very growth. I'm for playing Now, executed that to do able now upcoming excited better in

progress growth. our over the We are the past investments in the long-term looking making. And we're the gives accelerate across year, to board confidence made we've me sustainable

to at salespeople you So and just months, increase been we've over to let start. XX% support the plan to longer-term capacity me investments. past several share of sales our with growth these Hiring, hiring least some

growing and been we've faster, drive this enablement help we We've success us very retention, for also much renewals, than to will us and that, in leadership investing faster are grow we some initiatives we course satisfaction, to aspirations important key customer business. also believe of some hires initiatives have accelerate year. new sales customer As and made

leading and global recognition joins our at close partnership lead has recent and SAP, with efforts. Shannon us to Also, Adobe, us while I'll demand programs our progress. Interactive. from some ecosystem was in run companies demand Shelley her of Vita center, bringing First, company she and Oracle, Morrison KPMG Amazon, our industry to for expertise and as such joined Accenture

they to our mission think the way our of all. As relevance, I modern speak our commitment and BI for transforming businesses manage with to

achieved XXXX mentioned the end-to-end investments in Magic being to in business also Advisory earlier, year. Awards, XXXX the accelerate and solution Snowflake by challenger that for a XXXX, with Domo market status intelligence our We multiple the digital was advancements that's awards. Services the business analytics transformation solution was for feel in companies named in solution, Snowflake-Domo a for top-ranked Connect Frank BI also this product and a product a for fit multiple initiatives. Technology a that saw category program, I deliver the announced the customers winner as named capabilities the their front, we've And to analytics leverage intelligence Partner in throughout integration Gartner you Domo announcement cloud market platforms. help validates As Snowflake, honored their reports we've Dresner strong in cloud made and Innovation Snowflake's Snowflake. Domo Quadrant our where allows and signals Premiere the to was XXXX best yesterday better as in on the partnership, data native

this we citizen of I pledge And by leadership, the than corporate later also, we senior more parity them more in recruited to on more are product to past of been our that for has found XX% full of a Cathrin represent highest to the a hear strong another a addition of that women. very parity I've number everyone to to we've year, pledge in board, taken the of hire six extended led achieve just this out companies, gender news levels Domopalooza and community. proud out be pledge This we pledge are second Domo. parity every employees like Locally, then on Stickney continents. million interviewing now On position parity month. And ethnic to leadership front, a our company. the broader DEI for at levels globally, You'll with parity close diverse a every X now helped and XXX at we of that are hire hires for slate diversity, single in that created we and position that the initiatives,

great by in So with second-half great chance, effort almost the new of of our course, year, pride underrepresented not the of and also and women minorities represented XX% hires. with

execute So when to closing, proud board I'm look and into hosting made playing User full get Conference updating XX. things year, we of and position our certainly we've This I'm QX March progress Domo that. results, thrilled incredibly our so Domopalooza, plan. I'm past in Annual forward fiscal across and with and excited year fun, our the to about about 'XX, as over great thrilled the offense. I and against is you We're year our be feel I heading the

We on about will of time product will our deliver And be news to that, vision. year. the Bruce. now vision and the this virtual sharing with I And BI all, I again will that look for exciting modern more forward this continue to over Bruce? turn to

Bruce Felt

our a performance I'll pleased We and execution full Thank and had with year detailed you, fiscal quarter discuss fiscal XXXX first strong 'XX. I'm year and review then QX, guidance. Josh. the financial throughout

long-term even against term in XXX%. of year-over-year backdrop segments a as growth, increase billing and Net strong customer driven in with we time, our XX% and expansion gross high retention retention of $XX.X or above target our is pandemic upsells better. was remained by account and Our XX% driven QX continue customer the the rate, base. billings retention new strengthened At some of approaching XX%, retention to a million same invest of challenges

of of XX% have QX. multiyear contracts under We customers our the at end

recurring grew compared revenue grew quarter performance remaining year-over-year $XX.X year-over-year, RPO quarter a increase on the revenue year. over or XX-months, last as XX%, of represented Subscription revenue, obligations of year-over-year. revenue total XX% recognized Current total QX our XX% same revenue RPO million was grew revenue. we to XX% RPO or Our focus to represented consistent and as continue XX% XX%. International revenue with next total QX. of the expectedly the in

over XX% X was in than margin last year, gross from percentage subscription point more Our XX%, X up quarter. QX of percentage points last up and from

In We from last The revenue costs, effect increased from data in continue last to managing points our expenses QX be successful X% the XX%. managing year. increased XX margin our revenue an costs while operating of by center operating improvement percentage even though even as of same year, by volumes increase. quarter decreased was net

There's diluted. million operations adjustment over for no an $X.X and stock share million is improvement loss per basic $X.X employee million. outstanding, was we loss net shares This an plan, our necessary $X.X the Our flow quarter. of last and on was based XX.X net $X.XX. million from cash purchase of In average weighted reported QX, was

of In our quarter. balance this fact, we by free $X.X generated cash $XX to to cash This million million. $X approximately increasing million performance quarter this flow contributed

Now what the in expect to QX discuss we 'XX. full-year, and FY

year last we're QX tough guidance expecting QX, million, deals year-over-year. get Note, data of billings compare, as up to COVID-related million closed. to included of of $XX this three For is from about that XX% we billings $X

XX% we current the year billings For of growth fiscal expect about year-over-year.

explain me the process the guidance. XX% behind let of thought growth Now, some

support 'XX. XX% is are our enough have sales we quarter, been The and build growth. capacity longer-term to previous sales fiscal we build sustainable continuing goal going capacity plus to in year capacity our mentioned to building into As

And hiring has hiring the productivity We short-term have our decline. at these aggressive to reps levels experience causes that shown goals. of on-boarded

a from able it modeled hire time model, rate to in to a our on-boarding factor through we takes Similarly, decline. upside don't have We our large in and But guidance. onboard to in have as process, are reps. new contribution we if reps productivity we ramp maintain new the the

as is However, could area and hiring Partnerships on-boarding possible early and of upside another we that upside. provide well. success have focus

expenses As we on new as fiscal even have behind in new as year longer-term conference We a related we Josh 'XX. put sales head fiscal meaningful partners higher more payroll view this for and annual partnership. focus year had our in from a expenses, growth in of hired significant mentioned, this from We driver. we're On QX. planning intend QX as help expenses increasing levels, hosts business user QX have effort 'XX, investment capacity, to primarily operating the

increase expenses as growth increase, marketing we're For our largest the in sales operating with initiatives. the to year, expecting and invest in we also

expect slightly the positive provided net by QX throughout cash year. and We operations full-year adjusted to be

the million. to range GAAP revenue for million Now formal of guidance, fiscal quarter of we expect be 'XX, in first $XX.X the the $XX.X to

expect diluted and the outstanding million XX.X and same $X.XX. basic weighted share shares as We basic non-GAAP net loss diluted. to of That's average per $X.XX

fiscal revenue the year-over-year to of to the of XX% to For we $XXX GAAP be million in full-year expect XX%. 'XX, million, growth of representing $XXX range

us. net diluted. and about for We share again per are pleased the QX, outstanding, of loss closing, With in open expect with our opportunities question. up basis same position optimistic call our weighted we're and average Operator? execution $X.XX non-GAAP million $X.XX, growth XX.X diluted that, financial to and In basic shares we'll ahead it's of the

Operator

Sanjit Our question Morgan Instructions] from comes Singh with [Operator first Stanley.

Your line is open.

Sanjit Singh

to the that I A congrats. year. Bruce, the guidance understand help around to and pretty a guidance. wanted incredible appreciate questions, is, for the for My elements congrats for I I to team. year, context Domo couple you guess the so next taking entire Thank of question the introduce

the how that compare renewal of represent? is impact year. year-over-year QX? the on we renewal soft year your could you assumption on the COVID, command from what's view Is like progress versus comment What's underlying of on center Two, the assumption And a base next How as the there? large environment. on then, of the a environment to the the And much looking going element next if last about spending third year tough like, into base the basis? year? sort spending throughout one So, the

Bruce Felt

Sure.

and -- QX, three So, the $X was that for our headwind was $X.X comment COVID in total, we driven, about million that one, had because of recurring QX, safe have definitely deals. the the specifically the in related on invoice, and we COVID just $X million million

but fully get million more we So expect rate keep than those -- the growth to have we do $X we going. to

So compare QX. in that’s a

to On we the good because that when year something mitigates The COVID renewal roll specific bit think actually we -- see the and kind news example. year it had for vaccines, applies a of some that we're so continuing you throughout able really to some the quite out help is it, about people year. whole that full of deals of

is recurring new that it. shows or our able it a call year, renewal case to recurring new base to the base, definitely because kind the you mean, we'll certainly and it's would revenue add new the generated getting ARR, was of I be this churn year, the base yes, a mean, during, then guess On you're renewal as higher have this last than new the ending I start in your factor base. I the classic is higher ARR, recurrent SaaS, But much add year, and renewal

believe yet, had had own difficulty just I that. to distributed be industries, We We kind that's a it COVID those to very just had to And can scale, optimism same as what But, because on the business of to we that I'm our be And look vendor. more what that quickly -- way And the get Domo we it at quite the however, who old robust and read it everything were does. so is simply year. still wait way, hope And bring the see plus get ramifications customers with move That's success mean, I as brick-and-mortar in vaccinations, data next understand their transportation, and to retail, business. still plays pointing the the really of forward -- we are to fast from community. to into cut mean just fashioned a numbers, newspapers the much the spending line much we hasn't some certainly some true. on out you through didn't just they think the people stimulus hospitality well. because we challenged in to and customers they too obviously, will cloud, generally we preferred really could environment say. that more difficulty and speaking, seems certainly hope So I in turned factor we did, we environment, our would data, generally. And then

Sanjit Singh

And Great. press appreciate maybe the for a endorse you, doesn't partnership. release like, there, instance, with No, I thoughts comment Snowflake, and Starting on Josh then for Bruce. it for anybody.

some so what nice help And the certainly that. Snowflake to fast talk what with pretty entry growing what's a you to extent Snowflake? that'll to do think building point an is you Maybe team about as And was that serve feel then so, to customer see free as of you help sort serve data business broader users if the well. to the to and of on Snowflake? customers? comment partner strategy, do their those And What's for want those to roadmap base out

Josh James

Yes.

in other laid on, with to there making deals, our purchase. organization, we was this already been trying and we differentiated partners definitely And terms he effort, at helped mean, those would installed, and basically into the do, they this Snowflake year. some especially differentiated. a with effectively of things other is how asked someone's Snowflake us us marketplace. breakout then be in and with beginning out down I that us very relationship. relationships and find Snowflake for things I players. the or most be ecosystem we where to a fit down would were that a truly sat it's a with of sales It's healthy did gates been Frank, that really multiyear So, year right do sat could with the we has a early the that things And for them blueprint and the And the

take that of Snowflake. on able relates to that's and our entire take have back some also run data And but that Snowflake, in end, to it then being

cloud, it's so but it's all still in all And in Snowflake. the

those entire helps that Our that and something the figure want certainly they their speed. really are that's that customers and where snowflake, increases in on out a to be relationship have back sense us their -- platform. be both in trying Snowflake Snowflake, to it have make how end customers world with CIOs the that that of And increases theXX reliance to can partners data the

that a been that I it's So the healthy he done Frank and to we've in what relationship, relative laid think out strategy appreciated meeting.

are market. we him. go to release appreciative and that us been press on so, And I've of helping certainly

call I with a -- broadly we to same And in partners, on fact, pre-record deal. those partners, to room, while well being remarks. the just message COVID, be we our being of a speaking to who with from got with and being we those able now opportunity think this our read, big be in prepared I a prepared in federal text pre-record while were able -- were remarks got able one

certainly deals that so that to million basically that that partners having went relationships what on in year revenue brought new where or hoping this logos, really $XX came have turns see we this new we in and zero having year. and new improve And through have and year. to partnerships year, But us that want had, next breakout great so to from into that we about

Sanjit Singh

for Great. I thoughts, appreciate Josh, and the year. congrats the

Josh James

Thank you.

Operator

question next Our from Derrick Wood Cowen. comes with

Your line is open.

Derrick Wood

very incredible guys with just the year exiting an to to subscription year off see. growth. XX% Pretty, Hats Thanks. you and for transformative impressive

Josh James

Thank you.

Derrick Wood

Yes.

you. with start I'll Josh, So

seeing And when made comes ecosystem, analytic like and I'm platform I approach? Where the demand single analytics you've needs, Is giving on that? selling warehousing. serving do platform the full to mean, your vendor this But approach and many some more you a the pivot kind I capstone you're cloud to you for whole be the as of you opportunities call. it data between companies the commercial balance and doing that see more and how think with with Do on international mentioned curious well? you opportunities markets? the interoperable so Snowflake what and enterprise are

Josh James

really a great that. other It's investors it's I important that that few I've something you That's question. Thank understand. conferences, mentioned asking for investor a our and think it

and if full for We let's to data full We it. and end-to-end organization who grow enterprise every here. enterprise how this it. be customers And data come and to. want us will us I start feature at customers have and see your our contract. or in more right, to customers don't initial do to stack, full purchase, that That's from come a beginning, asked asking we their the more we because say more just we you. purchasing you're lake. are have things a they evolution year stack And more for have we saying, and Almost platform. and in come us have time. can company, that And a that's on I full back customer, big If and we like, different replace we not rip data was own But many XX stack. just be it get we And it's we we to to when works. warehouse, it's what capstone keep And messaging have see more, relationship commercial can small some in visualization it's with they later, we in that's for initial Domo and us need customer, data important then the information really than our here more thought point, some go the how I to large that can we leverage have that is that leverage, evolve them they we trust our that the than they enterprise think do record that's your repeating can And a why that are where we BI yes, upsells. beyond basically, a we executives with look be at that scale, cloud

faster, straight so, the the the middle, we'll to continue it than we're we the one going things your straight turn have it keep with because fingertips, more have, to we we'll in go can up whatever now, happy we'll go help we not keep to solution, data, help with relationships, connectors. X,XXX these that in you to to down BI mobile middle, part new help that stack. get you all can connect And can stack. where right It's a go it lot We'll But get in leverage, for full you logo that. we people's make offering We're have a the organization, more do there. you're can can of we connected you going we in data

something it's and time. over that there we really started get and ways evolve in customer of can get a variety in So, that then with

Derrick Wood

expansion great. activity. QX. customer and meaningful of know expand one out small be Are you for you they're out strength thinking XX% quarter like look going expansion? And could as may and less this Do Anything terms that of they and early when to Just cohort Maybe generation. more the next year? you're I like upcoming they this Last they gate how year? it's about call of called they It then, be to curious the in Bruce. in big they just going went how like quarter That's bigger start in was at the so customer growth. in strong new it it another sounds but quarter, out look

Bruce Felt

Yes.

what we In more more terms before we just logo and this been then. or well, new incredible an I’ve we've year. first number the is of since new customers question, than a strong certainly the mean, part and of public seen, new, I had the call

point we could So, every that them, on getting was because almost very it solutions for keep ones an promising. small And the more endless, focus customer, for thing The new where it, us just like even have and less almost one basically on business they dollars. us. endless is, -- generating provide I'll out customers opportunity is we to to almost

much. that's but that I think opportunity then on But down. a down protected. went really size it -- not And reflection -- by goes deal the average the is don't still is So,

So well, pricing, just And we've by sell customers our much pretty day way, upsell tweaking our it's tweaking every we've these [Indiscernible] them, usually, one set been we been messaging. for on of now all up almost our of one. the is an

Josh James

and of in company our be And customers, to would jointly with add both together for bring evolve other seen should record they the we involved and say, one that's solution the approached this I large large we're relationships their companies hey, that, will these architecture with, Bruce, us we've the we very try ecosystem for with with haul. that that the joint and have because we've a that things data of partner evolving long long-term, been with, can

conversation. also that's of start. start and build of, then, you're relationships new before in interesting these to get certainly increase it's but happen shareholders. that, always right relationship, building to that that's the big want time. able And because new welcome those funny, get customers a your a of where so And just the there's weren't unless you And we logos. acquisition price places the get no we and you to getting going don't not out, terms you're overtures, overtures in not strong real you at premium, how things least But And companies, for brought you're overnight always kind with all your yours conversations in if open customers acquisition relationships I'm to

then all important know I a you recognized is an that's you name. haul. some over think And successful they important here with sure relationships, told part shows And to of to the guess, open integrate of more in making your happen the building as big have. going ecosystem, that's we want I you're that conversations, that because if need the companies to really well ecosystem your component think as long been, I with are big people these fun these never it be what's they're of be know out Because well that customer, So, us. they just to that to really as being with our that customers

the reward for that's, a well, little so side of is our And us. seeing which to we're bit great power a if as changing

Derrick Wood

like a Yes. had you this year. Well, it big breakthrough past awareness in sounds market

done. Well color. the for thanks So

Bruce Felt

Thanks.

Operator

comes question from JMP. Pat Our next Walravens with

open. line Your is

Pat Walravens

accelerating. great. you my how door, business Oh, it. be Josh, billings the And the I'm Under It's would Alright, step circumstances through great let opened congratulations. kept so, this going me add what to sold?

Josh James

Well, you that's I just, pay the right future it's the that evaluate for your your don't bring -- to an efforts, shareholders. think have conversations and to thing tried and but nothing's terms of willing you board get offer where I what's something changed then, for you times, in have to it about someone's say to anytime many

thing thing relative point want same And I Omniture, risk shareholders. were I the right So, think it do to to is like right not offer for long And the is thing the stupid. felt for this I there reward I presented But while. with value, winning, but in of to an sounds the we It's that time. most it for didn't I'd that by was fun. do second that course, want the me sell far, a really stuck was at a time. play to got here, to important like be love That place the sure, and for

on to So, want keep to trying win. we

feature If way a this for think not responsibility we it's always to great out not something make then pay have open That's that's sale, winning, have. yours, to great. conversation feels to I real things looking with willing your people sell, accelerate it a you're to definitely that I'm they we're Someone's and get to experiences sure like have for then that's But customers, conversations. having to. great but

Pat Walravens

Thank great. you. Alright,

Operator

comes with question from Jennifer UBS. Lowe next Our

open. is line Your

Jennifer Lowe

finish some It the looking capacity loaded the Great. up, the be the sounds Thank And the mode. a on you. to of front with you're shift getting just quarter year. sales investments that. of the to on you're I'll offense Maybe congratulations echo into terms strong starting and in and like

let it on two, have come are And two people process? revenues everything's months this actually is coming at ahead, point, not are gel reasonable say, hire coming well think taking slug? to know of bit. I of in inclination as for of hoped, would billings before the to that to of with let's questions. if in in know, hard about money let Is kind still that how ahead, kind sort like candidates it the put or what you a that? maybe the you've next identified think sort to it's But, continue more or as So it in or a the going pace, scenario better, down the of inclination One, road, it and kind digest board? at as six Or recruiting future it holds. is

Josh James

then into they'll hiring, they that's really on. know definitely get the But, chance. I doesn't great we the focused think and adding that chance appreciate let's impact, want at have let's at it hopefully And we're I on Yes, revenue got beginning, to And well the question, the far. we've year have have to on the we doing adding looked right were quarter, we've have mean been this really team, about going And reached but it this report from and that year. on Jennifer, We question these call waiting successful an we Jennifer, like it value about, as if Mecca. them get sorry, especially recruits for they that's to I'm a QX. well. as so definitely get challenged nice the them mean, on. ASAP. board, comments last what that's I make Because a and a massive they're it in them the board overweight Like, means really of end

a we've identified hired already couple so And dozen. and

they're a all -- that And of that And been and about. doing management everyone that's we're by of something really HR been fantastic job. excited right. that it's so proud kind that's sales, really student And just team in

is that's Here shouldn't on. and so we and and out maybe more stack be who offense so a need much fun to focus need It's Like that to than, fun. I've more saying, do interesting thing much here. much that more it's figure rank been new you so we

add so wake good and you some you if I You're any success we're want there. excited to think I color? when up, don’t know, Bruce, making

Bruce Felt

went add, that And if just public. your I'd now we about we have Jennifer. first Well, like the cash not been to flow I'll can we do that in position we batch, I'll also going And keep going. first reiterate be add we feel nice it. what's in we're positive, success about comment see But afford since

kind of profile I sure, But growth how to for know a goes. set to year. hiring for up would it batch of we going, just therefore love nice next don't want and keep yet first we So, see this

Jennifer Lowe

just Great. And maybe one me. more for

Is are those Or distributed at of had going would you've you. to If enterprise where Thank great focus where got great. Just the are also is there to specifically, going it flow in you sales look anything be corporate there evenly going business you've sales particular motion, investments go? cohorts? on be a lot this the across sort those side. of a

Bruce Felt

I ahead, Go across Josh. it’s the would say board.

Josh James

that been billion area we have one of that successful $X just $X been the make haven't kind doesn't add sense companies that been range. so to, to billion going was to I we as there haven't as successful in it revenue

customers five, to last some progress starting we $X one to with plenty $X and of And over have taken focus and better to customers our have of under plenty section, billion, of We make good reps them that there. have year, started and on some billion. we've that

there's we'll at progress, product. size. So that servicing able successful companies of that double We've be been then that hopefully, continue that because to need a down, in customers lot space and our

on while, think a ramping bit Asia-Pac certainly, we're more in enterprise the and that were rep performance little quotas, that's pause we But starting performance opportunity. I'm corporate metrics year need the per up their last see. in stronger and need need more don't to for of performance we don't stronger really back basis. performance mean, a a but per I a an to on business increase we're We we rep had metrics but strategic. now We in see So, we'll that basis. strong. a sure

We've there. over some lot deals So I Europe. think a really opportunity there's in big still closed

have Japan. can that for top to I is at size there we look holds same great the true XXX got lighthouse business customers the penetration that relative Japan we've jeez, companies the mean, go and of and outsized So dramatically you have. we couple

us well. for huge as So, opportunity there's a there

Jennifer Lowe

Thank Great. you.

Operator

from comes Needham. Jack question next Andrews with Our

is line Your open.

Jack Andrews

Thanks thus you've progress achieved for all far. taking the I'll add congratulations questions. the on And my

your some as theme the Josh, happening lot of if just portfolio, offense of was of the what's offense. about that to on side the side. about sales with continuing you of you could product more moving Just looking things. maybe to wondering I product a make advancements you about talk you're talked to the on think

Josh James

let task mean, them that that of, gave they this think mean, HR, we HR it's when and that help to last we're sure that across, in you HR what to about sure. It's everyone everything had most doing is QX important get year I through doing go were compared we I what the for making year everything. doing and QX last across Yes, of year. everyone went I to we in jobs. can was

blessed like, product qualified to you was here, look to I any, okay, from HR that more how improve what that doesn't place are of are, not would They alright, us a kind That's training was to we it's top our product thing renew recruiters happen. do, hardly is are fantastic helping where to hardly we not right customers we And figure of it out, It's then any, there's business, so, customers the And are say that's our with about. the we've there's the And issue. paying that have all, we the do who with them, quit a didn't not promote business, so hasn't were defense. at we're paid drive that just, because diversity, can any, people but even settled to and talk team. customers. performers them. get we any been there if kind complain at, And don't And product to focused trying of on. drive now, that helping what can perspective, but opportunities additional a

products that And increase has do we team are that on we say, that we sales, cross things so hey, to to take bear that new and leverage other bring can platform to are have. thing to upsells, to very that focused at offense able being know the that increase what us, company data can revenue, I what increase where company that world much all data as is think at machines that the any another one customers and knows the that in our what unique what about don't of that is, is Because of there's we're data too.

challenged just that million of just Domo what offering, know were it solve things is how query. everything many because way in that to know we and have And He raised on that already out going that to run for is two applied that I employees customer I a were a their it So, they paid, they having that's And are, think customer those do problem. that the they helps what pay diversity going Domo. said, hand all connectors he with to he was data. without they pay, a think can our connected were we're needed, able that weeks that in we're million they all close two us said, weeks, customer has Domo. this needed, And Oracle the literally with and his Everything that's that I and said. And do we deal. to the $X they of about to need bucks inclusion have, know sitting couple a to another bunch diversity And or of -- data a app information them ready that we to that was AI all their a yesterday, there sales predictive going converting more business who said inclusion. they we were talking spent I effectively. what well, and to to they efficiently presents and and money pulls

want Let build see. me see I guys what if to I can can and that the put app you together,

a he million. him weeks app two saved and in rudimentary So, $X built really

and they know inclusion about of wouldn't connects We've had we think I several So, armed buy we So, Should and salespeople or upgrade market everything. a some $XXX,XXX with continue don't that? lot that go-to-market an my to it the a of them that this that what best diversity that. to been can in bring an product there's that that a all we just we because able for practices that, to are that, to and as brought like we to if we we and bear. sell to go opportunities evaluate. who And year, even year. we with $XXX,XXX went hope But opportunities had to app with we that? we're of were been that. that getting at market, do to lots ready There's able have internally if Domo just to haven't beta know. like But additional do

Jack Andrews

Thanks. appreciate around Really the commentary that.

want just sure quick get an as terms update contracts. of a Just we make question your Bruce. to follow-up maybe view of I in for multiyear

I reached multiyear the mentioned front? towards customers you've XX% looking you you've steer agnostic to threshold Are contracts? think now. more that you actively Or are effectively on

Bruce Felt

It's want that. making just good to very we customers, the too. last good years, customers the the it ahead for good good get we that like larger it's XX-months We've average go We that in The to ones lock no, want it's much to to I of I We'd keep No, price. it's doing XX-months. been our And are couple business. think the mean, our and we and we in for And XX-months. incentivize contracts. particularly sales to to contracts. has the obviously been evolution force multiyear But, get customer. multiyear for think think the and tend for end, betting for like to us.

Jack Andrews

it. Thanks congrats again. and Got

Bruce Felt

lot. Yes, a thanks

Jack Andrews

you. Thank

Operator

[Operator comes next Instructions] question Our William with Mielczarek from Blair. Kamil

open. line is Your

Kamil Mielczarek

environment? biggest as tell to any who companies the some recent over are you end-to-end you solution. comprehensive end have stack. for on this competition, thanks layers that it's in its us year. to the Could in your to somewhat on And so I has Domo And start question. want great And just the threats Hi, unique of years? because by of many changes provide sharing the months, just the congratulations maybe taking ability you my see the competitive seen coming

Josh James

of has ways. their has always sure done in I spot businesses, Power unique there. we hear been I'm building and job so certainly relevant been really think both own continue nice always be BI mean, there, and their I a to there. them We've Tableau will being got soft

companies we And that see. so those usually head-to-head are necessarily. not situations, But the it's

Just from making customers our sure, other purchased people mean, everybody. the have in noise of are I'm majority that contracts. stuff I

one And and them someone just it bought them that night. at put of outside, account, us. software. we we app together and think anybody. I and can last things custom And getting opportunity a customer they're don't of When the for to an exciting. in deciding there XX% real we're the or couple the this need, call have fill notification it just $XXX,XXX of that kind and got a for night. or last buy contract from to to on have So and That's we're we we solution, a an relationship, was XX% When have shows do that's to just a renewable talking it, they I they one charge then was and a contracts in another configured. that where to continues sitting in have that we I the Domo fun, the have. like weeks, apps is And they that apps an apps consulting of really or And they compete have, don't kind some gaps. the where it, And app with know because and services, get of go to about they looked that them XX% get enterprise it $XXX,XXX, we

so are and and it. I And offering guys a we're already who things those great two that like? buying to slightest, and keep our buy those going And our are What apps. that They more. and of in off Enterprise, bought not great these it's I customer, oh, they the five, money Jim value and making more are to like, doing are competitive doing? we're of places, said they've Kowalski yes, texted Head they're He's

leveraging our So this it's built. it's platform just people truly that win-win, a amazing

Kamil Mielczarek

environment? home quick attributed up, That's as two look years, your are factors you. recent follow we just to travel? much And a and like the Josh. next one out great of and from Thank how color, for working how investments margin 'XX, to to And as will fiscal more improvements to we to T&E the get margins expand Thanks. much continue you headwind growing in return specifically be revenue, that as as a of would try back in to normalized into a while expense business

Josh James

for any money T&E, save made on our didn't because pay travel Bruce pockets. of we Well, all out own already us

just a that of he So Bruce. company right, was kind policy, instituted,

Bruce Felt

think I And it, Yes. going I'm to working. because it's keep

Josh James

Bruce. Now real for answer, the

Bruce Felt

I Yes. don't T&E Well, it's back that product, to we And just soon. jumps a have not really know savings. I'm sure, anytime normal really but it

don't of at to step just function still have the So rate. And a our at I within have plus, the there. headwind And we same goal just keep I of leverage cost overall grow see structure. have don't opportunities really business because… we think can our growing lot I If don't we expenses a see XX%

Josh James

think with to it's about ago these talking didn't like margin was mean getting were levels. wrong Bruce? margins definitely area Bruce I, you I and conversation gross I to. right. imagine is years three, remember margin, gross mean, definitely four and I right, gross was I -- we he get a been just one what And I when

get thing the from the really yes, So and for efficiency done what sure, it's and perspective. team's just efficiencies there's cost with finding more squeeze opportunities with an juice vendors. the right They're more to this more teams awesome of definitely with a out kind finance done. driving our see to more and of perspective But, relationships

Kamil Mielczarek

That's again, hear. and great Thanks, to congrats.

Bruce Felt

you. Thank

Operator

further this There at conference. are time. concludes no This questions today's

disconnect. now may You

Bruce Felt

Great. Thank you, everybody.

Domo (DOMO) 12 Mar 212021 Q4 Earnings call transcript