Domo, Inc. Reports an Increase in Revenue Across Geographic Regions during Q1 2023

Domo, Inc., a cloud-based software company trading under the ticker DOMO, has recently reported an increase in revenue across its key geographic regions during the first quarter of 2023. In the three months ended April 30, 2023, the company’s total revenue reached $79,458 thousand, showing growth across the United States, Japan, and other regions.

Revenue Growth by Region

The SEC report showed that revenue from the United States increased from $58,568 thousand in Q1 2022 to $63,000 thousand in Q1 2023, representing an increase of 7.6%. Japanese revenue experienced a slight decline, going from $6,434 thousand to $6,070 thousand in the same period. However, revenue from other geographic regions increased by 9.8%, from $9,462 thousand to $10,388 thousand.

With the majority of Domo, Inc.’s sales focused in the United States (79% during both Q1 2022 and Q1 2023), the U.S. market remains the primary driver of revenue growth for the company. Japan and other regions account for 8% and 13% of total Q1 2023 revenue, respectively.

Remaining Performance Obligations

In terms of remaining performance obligations, Domo, Inc. expects to recognize $336.5 million of revenue from its current non-cancelable subscription contracts, with $220.5 million of this amount to be recognized over the next twelve months. Also, the company expects to recognize $20.2 million of revenue from remaining performance obligations for professional services and other contracts.

Credit Facility and Borrowings

During the same period, Domo, Inc. has drawn $100.0 million in term loan borrowings under its credit facility. This facility, which was amended in August 2020, now has a maturity date of April 1, 2025, and comes with various covenants and restrictions for the company. As of the end of Q1 2023, the interest rate on this credit facility was approximately 10.7%.

Restricted Stock Units

Furthermore, the company handed out 1,418,835 restricted stock units (RSUs) during Q1 2023 with a weighted-average grant date fair value of $14.10. As of April 30, 2023, there was $127.1 million of unrecognized stock-based compensation expense related to these RSUs, which Domo, Inc. expects to be recognized over a weighted-average period of 2.2 years.


In conclusion, Domo, Inc.’s Q1 2023 has shown an overall increase in revenue generation across its primary geographic regions, mainly driven by growth in the United States. The company continues to maintain a solid credit facility position and shows considerable investment in its stock compensation plan. The revenue expected from remaining performance obligations indicates that Domo, Inc. is well-positioned for financial stability in the coming years.

Note that we may hold securities mentioned in this article. All data is based on recent SEC filings. Even though we have implemented various manual and automatic fact-checking and data acquisition processes, some incorrect information may have slipped through (false positive). Let us know if you find any inconsistencies!