Domo Inc (NASDAQ:DOMO) Q1 2020 Earnings Conference Call - Final Transcript

Jun 04, 2020 • 05:00 pm ET

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Domo Inc (NASDAQ:DOMO) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Welcome to Domo's First Quarter FY '21 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

And with that, I will hand the call over to Peter Lowry, Domo's Vice President of Investor Relations.

Executive
Peter Lowry

Good afternoon and welcome. On the call today, we have Josh James, our Founder and CEO, Bruce Felt, our CFO and Julie Kehoe, our Chief Communications Officer.

Julie will lead off with our safe harbor statement and then onto the call. Julie?

Executive
Julie Kehoe

Our press release was issued after the market closed and is posted in the Investor Relations section of our website, where this call is also being webcast. Statements made on this call include forward-looking statements related to our business under federal securities laws, including statements about financial projections, the plans and expectations for our go-to-market strategy, our expectations for our sales and new business initiatives, the impact of COVID-19 on our business and our financial condition. These statements are subject to a variety of risks, uncertainties and assumptions. For a discussion of these risks and uncertainties, please refer to documents we file with the SEC, in particular, today's press release, our most recently filed annual report on Form 10-K and our most recently filed quarterly report on Form 10-Q. These documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements.

In addition, during today's call we will discuss non-GAAP financial measures which we believe are useful as supplemental measures of Domo's performance. Other than revenue, unless otherwise stated, we will be discussing our results of operations on a non-GAAP basis. These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from GAAP results. Please refer to the tables in our earnings press release for a reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measure.

With that, let me hand it over to Josh. Josh?

Executive
Joshua G. James

Thank you, Julie. Hello, everyone and thanks for joining us for the call. Before I begin discussing the quarter, I want to express that the safety of our employees, their families, and our customers has been a top priority as we operate through this health crisis. Our people have been working from home in a fully distributed fashion since mid-March. I'm incredibly proud of how quickly they've adapted, especially the great care they've shown our customers and the rapid delivery of solutions for the new challenges our customers are facing.

Many of the challenges at the moment have highlighted the unique strengths of our platform. I'm very pleased with our Q1 results, particularly given the backdrop. In Q1, we posted a 23% increase in subscription revenue, and 19% year-over-year increase in total revenue, and much better than expected billings and cash flow. And mostly I'm excited about