Domo stock plunges 16% after revenue beat

Domo Inc. shares plunged more than 16% in the extended session Thursday after the software company beat consensus estimates. The company reported first-quarter net losses of $35.5 million, or $1.32 a share, compared with losses of $45.5 million, or $27.63 cents a share, in the year-ago period. In the first quarter of 2018, Domo had 1.7 million shares outstanding versus 27 million in the first quarter of 2019. Adjusted for items such as stock-based compensation and a tax-related addition, losses were $1.08 a share. Revenue rose to $40.8 million from $31.9 million in the year-ago period. Analysts surveyed by FactSet had estimated losses of $1.28 a share on revenue of $40.7 million. For the second quarter, analysts model losses of a dollar a share on revenue of $42.3 million. Domo said it expects second-quarter adjusted losses of 98 cents to $1.02 a share on sales of $41 million to $42 million. For the full year, Domo says it expects adjusted losses of $3.79 to $3.87 a share on sales of $173 million to $174 million. In the earnings release, Domo said, "We have not reconciled guidance for non-GAAP metrics to their most directly comparable GAAP measures because such items that impact these measures are not within our control or cannot be reasonably predicted." Domo stock has more than doubled in the past six months, with the S&P 500 index rising 4.8%.

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