DOMO - Domo stock surges 20% after Q3 beats first cash flow positive quarter

Domo (DOMO) shares are rallying 20% pre-market after the company posted Q3 results that beat on the top and bottom lines with revenue up 20% Y/Y to $53.65M.Subscription revenue increased 24% Y/Y to $46.9M.Billings were $55.7M, up 25%.Adjusted net cash used in operating activities was $1.4M, Domo's first quarter of positive cash flow.“In Q3, we achieved strong growth and delivered on the commitment we made at our IPO to grow revenue while getting to cash-flow positive with the cash we had on hand,” says CEO Josh James.For Q4, Domo expects revenue of $53.3-54.3M (consensus: $ 552.4M) and a net loss per share of $0.42-0.46 (consensus: $ 0.43 loss).For FY21, the company guides $206.6-207.6M (consensus: $204.7M) and a loss per share of $1.83-1.87 (consensus: $1.88 loss).Analyst call: Cowen's J. Derrick Wood (Outperform) raises Domo's price target from $50 to $65, saying the company is "starting to hit stride with its original vision, and

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Domo stock surges 20% after Q3 beats, first cash flow positive quarter