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Domo Inc Updates 1 Key Risk Factor
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Domo Inc Updates 1 Key Risk Factor

Cloud-based platform operator Domo, Inc. (DOMO) recently delivered better than expected performance for the third quarter on both its top-line and bottom-line fronts. The stellar performance was driven by double-digit growth in subscription revenue.

Q3 revenue increased 21.3% year-over-year to $65 million, outperforming estimates by $768,000.  Net loss per share at $0.32 came in narrower than estimates by $0.02.

Notably, billings witnessed a 26% year-over-year growth during this period. The remaining performance obligations of the company increased by 19% to $297 million at the end of October.

In a further positive, Domo has been named in the ‘Hot Companies to Watch’ list by Nucleus Research for 2022.

With these developments in mind, let us take a look at the changes in Domo’s key risk factors that investors should know.

Risk Factors

According to the TipRanks Risk Factors tool, Domo’s top two risk categories are Finance & Corporate and Tech & Innovation, contributing 33% and 23% to the total 61 risks identified, respectively. Compared to a sector average of 16%, Domo’s Tech & Innovation risk factor is at 23%.

In its recent quarterly report, the company has changed one key risk factor under the Macro & Political risk category.

Domo highlighted that the present COVID-19 pandemic could have an impact on its business and results of operations, in volatile and uncertain ways. In geographies where Domo or its customers and partners operate, the environment induced by COVID-19 could lead to economic, social, or labor instability.

Since Domo’s platform is offered as a subscription-based service, the pandemic’s effect may not be fully reflected in its results until future periods.

Tracking Insiders

Keeping a tab on transactions by corporate insiders can provide timely insights for retail investors. TipRanks data on Insider Activity points to insiders having sold Domo shares worth $943,700 in the last three months. Shares have dropped 32% over the past month.

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