Earnings To Watch: Domo (DOMO) Reports Q3 Results Tomorrow

StockStory
2024-12-04
Earnings To Watch: Domo (DOMO) Reports Q3 Results Tomorrow

Data visualization and business intelligence company Domo (NASDAQ:DOMO) will be reporting earnings tomorrow after the bell. Here’s what you need to know.

Domo beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $78.41 million, down 1.6% year on year. It was a strong quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates.

Is Domo a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Domo’s revenue to decline 2.7% year on year to $77.55 million, a deceleration from its flat revenue in the same quarter last year. Adjusted loss is expected to come in at -$0.15 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Domo has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.6% on average.

Looking at Domo’s peers in the data analytics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Health Catalyst delivered year-on-year revenue growth of 3.5%, meeting analysts’ expectations, and Palantir reported revenues up 30%, topping estimates by 3.1%. Health Catalyst traded up 7.5% following the results while Palantir was also up 23.4%.

Read our full analysis of Health Catalyst’s results here and Palantir’s results here.

There has been positive sentiment among investors in the data analytics segment, with share prices up 16.8% on average over the last month. Domo is up 18.3% during the same time and is heading into earnings with an average analyst price target of $9.80 (compared to the current share price of $9.77).

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