Here is a summary of Domo, Inc.'s Q1 2024 earnings call, which took place on May 25:
- Q1 revenue for Domo grew by 7%, with subscription revenue growing by 10%.
- The CEO's main priority is to increase the company's growth rate while maintaining financial responsibility.
- Domo's differentiation as a data experience platform stands out, with numerous examples of how companies are using it to foster a data-driven culture that transforms curiosity into business impact.
- Domo had notable customer wins, showcasing its ability to unseat significant competitors.
- Domo is increasing its ability to provide access to its platform on a consumption pricing basis to remove barriers to adoption and better align pricing to the value delivered to customers.
- Domo was named a leader in the Nucleus Research 2023 Analytics Technology Value Matrix for the third consecutive year.
- Domo's AI service layer will be available in June, with AI Text to SQL, AI text to Beast Mode, and AI text generation available now via a Domo Brick in the Domo app store.
- Domo's multiyear contracts now account for 65% of its customers.
- The company is focused on playing their current hand as best as possible and optimizing their assets to become cash flow break-even and net operating margin positive.
- Consumption will be a game changer for the company, and they plan to move all accounts to consumption quickly.
This is an AI generated summary. There may be inaccuracies.
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