Domo Inc. Reports Q1 Net Loss of $24.4 Million

Domo Inc.,(DOMO) a leading provider of cloud-based business intelligence and analytics solutions, released its unaudited financial statements for the first quarter of the fiscal year. The report shows that while the company's revenue has seen a substantial increase, it continues to face challenges in achieving profitability. Here is an overview of Domo's Q1 financial performance:

Net Loss of $24.4 Million:

Domo Inc. reported a net loss of $24.4 million for the first quarter, ending April 30, 2023. This represents a decrease from the net loss of $32.9 million reported in the same period last year. Despite this improvement, the company still faces the ongoing challenge of achieving profitability.

Revenue Surpasses $79.5 Million: