Domo Inc (NASDAQ:DOMO) Q2 2021 Earnings Conference Call - Final Transcript

Sep 03, 2020 • 05:00 pm ET

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Domo Inc (NASDAQ:DOMO) Q2 2021 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Welcome to Domo's Second Quarter Fiscal Year 2021 Earnings Conference Call.

[Operator Instructions]

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

Thanks, Pete.

Our press release was issued after the market close of market 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 is not -- 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
Josh James

Thank you, Julie. Hello, everyone. Thanks for joining the call.

Let me start off by saying I hope all of you and your loved ones are healthy and safe in what continues to be a challenging environment. I remain incredibly proud of how our team has adapted and the great care they continue to show our customers. Domo was made for this new world of work, where business agility is imperative to surviving and thriving.

In Q2, we posted 23% billings growth, 27% subscription revenue growth, 23% total revenue growth and better than expected cash flow. I'm very pleased with our Q2 results and our consistently strong execution against our plan, particularly given the current backdrop. Since our IPO, we have been relentlessly focused on growing our business, while at the same time, making our growth more efficient and driving to cash flow breakeven with the cash we have on our balance sheet.

In Q2, we once again continue to make great progress on this front, as we have