Domo, Inc. ( DOMO ) shares are trading higher Wednesday after the company reported better-than-expected fourth-quarter financial results on Tuesday after the market closed.

Domo ( DOMO ) stock is showing exceptional strength. What’s fueling DOMO ( DOMO ) momentum?

Q4 Financial Results

Domo ( DOMO ) reported adjusted earnings per share of 3 cents, beating the consensus estimate of a 3 cent-loss. In addition, it posted revenue of $79.62 million, beating the consensus estimate of $78.65 million, and representing a 1% year-over-year increase.

Subscription revenue totaled $73.4 million, up 2% year over year. Billings were $111.2 million, up 8% year over year.

Subscription remaining performance obligations increased 8% to $437.9 million, while current subscription RPO totaled $227.0 million, up 1% year over year.

Cash and cash equivalents were $43.0 million as of Jan. 31.

"We delivered our highest quarterly billings ever and our highest gross retention rate in over three years, reflecting strong demand from customers and the growing role Domo ( DOMO ) plays in their AI strategies," said CEO Josh James.

Domo Shares Skyrocket

DOMO Price Action: At the time of publication, Domo ( DOMO ) shares are trading 27.17% higher at $5.57 according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.