Shares of cloud software company Domo (DOMO) - Get Report plunged on Friday after the company reported a fiscal second-quarter loss that was narrower than analysts' forecasts but revenue that came up short and a less-rosy outlook for fiscal 2020.
The Silicon Slopes, Utah-based company posted a non-GAAP loss of $26.4 million, or 96 cents a share, vs. $36.2 million, or $3.44 a share, in the comparable year-ago quarter. Analysts polled by FactSet had been expecting a loss of 99 cents a share.
Revenue rang in at $34.9 million vs. $28.2 million a year ago, but still about $10 million shy of analysts' expectations of $44.3 million.
For fiscal 2020, the company said it now expects to record a non-GAAP per-share loss of between $4 and $4.10 a share on revenue in the range of $168 million to $169 million. In its previous quarterly results, Domo said it was expecting full-year adjusted losses of $3.79 to $3.87 a share on sales of $173 million to $174 million.
Shares of Domo were down 36.2%, or $9.13, at $16.08 in early trading on Friday.
- Domo Is Now Oversold