HUCK 8-K

Huckleberry.ai, Inc. (HUCK)

8-K 2020-06-04 For: 2020-06-04

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Added on April 09, 2026

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☒			Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
☐			If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.


Exhibit No.						Description
99.1						Press Release of Domo, Inc. dated June 4, 2020
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)


Domo, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)

	Three Months Ended
	April 30,
	2019		2020
Revenue:
Subscription	$	34,391	$	42,436
Professional services and other	6,407		6,125
Total revenue	40,798		48,561
Cost of revenue:
Subscription (1)	8,035		9,105
Professional services and other (1)	4,769		5,004
Total cost of revenue	12,804		14,109
Gross profit	27,994		34,452

Operating expenses:
Sales and marketing (1)	35,949		29,096
Research and development (1)	17,099		17,453
General and administrative (1), (2), (3)	8,017		9,869
Total operating expenses	61,065		56,418
Loss from operations	(33,071)		(21,966)

Other expense, net (1)	(2,325)		(2,724)
Loss before provision for income taxes	(35,396)		(24,690)
Provision for income taxes	140		205
Net loss	$	(35,536)	$	(24,895)

Net loss per share (basic and diluted)	$	(1.32)	$	(0.88)
Weighted-average number of shares (basic and diluted)	26,966		28,450


(1) Includes stock-based compensation expenses, as follows:
Cost of revenue:
Subscription	$	123	$	226
Professional services and other	93		103
Sales and marketing	4,008		1,826
Research and development	2,065		1,877
General and administrative	1,238		2,397
Other expense, net	48		47
Total stock-based compensation expenses	$	7,575	$	6,476

(2) Includes amortization of certain intangible assets, as follows:
General and administrative	$	20	$	20

(3) Includes reversal of contingent tax-related accrual, as follows:
General and administrative	$	(1,293)	$	—


Domo, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)

	January 31,		April 30,
	2020		2020
Assets
Current assets:
Cash and cash equivalents	$	80,843	$	75,543
Short-term investments	17,967		12,571
Accounts receivable, net	47,967		29,644
Contract acquisition costs	12,676		12,513
Prepaid expenses and other current assets	12,809		12,507
Total current assets	172,262		142,778

Property and equipment, net	12,816		13,111
Right-of-use assets	—		11,095
Contract acquisition costs, noncurrent	17,083		15,641
Intangible assets, net	3,865		3,815
Goodwill	9,478		9,478
Other assets	1,234		1,300
Total assets	$	216,738	$	197,218

Liabilities and stockholders' deficit
Current liabilities:
Accounts payable	$	2,298	$	2,347
Accrued expenses and other current liabilities	46,473		30,892
Lease liabilities	—		3,610
Current portion of deferred revenue	105,290		104,804
Total current liabilities	154,061		141,653

Lease liabilities, noncurrent	—		8,166
Deferred revenue, noncurrent	4,454		2,916
Other liabilities, noncurrent	6,329		6,415
Long-term debt	101,074		102,056
Total liabilities	265,918		261,206

Commitments and contingencies


Stockholders' deficit:
Common stock	28		29
Additional paid-in capital	988,141		998,271
Accumulated other comprehensive income	389		345
Accumulated deficit	(1,037,738)		(1,062,633)
Total stockholders' deficit	(49,180)		(63,988)
Total liabilities and stockholders' deficit	$	216,738	$	197,218


Domo, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

	Three Months Ended
	April 30,
	2019		2020
Cash flows from operating activities
Net loss	$	(35,536)	$	(24,895)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,764		1,293
Non-cash lease expense	—		951
Amortization of contract acquisition costs	2,678		3,408
Stock-based compensation	7,575		6,476
Other, net	(659)		879
Changes in operating assets and liabilities:
Accounts receivable, net	12,214		18,323
Contract acquisition costs	(2,062)		(1,926)
Prepaid expenses and other assets	(4,493)		213
Accounts payable	551		45
Operating lease liabilities	—		(905)
Accrued and other liabilities	(8,977)		(14,751)
Deferred revenue	267		(2,024)
Net cash used in operating activities	(26,678)		(12,913)

Cash flows from investing activities
Purchases of property and equipment	(1,474)		(1,363)
Purchases of securities available for sale	(63,008)		(11,149)
Proceeds from maturities of securities available for sale	—		16,600
Purchases of intangible assets	—		(104)

Net cash (used in) provided by investing activities	(64,482)		3,984

Cash flows from financing activities



Proceeds from shares issued in connection with employee stock purchase plan	4,518		3,659
Shares repurchased for tax withholdings on vesting of restricted stock	(900)		(38)

Proceeds from exercise of stock options	1,338		11


Net cash provided by financing activities	4,956		3,632
Effect of exchange rate changes on cash and cash equivalents	(6)		(3)
Net decrease in cash and cash equivalents	(86,210)		(5,300)
Cash and cash equivalents at beginning of period	176,973		80,843
Cash and cash equivalents at end of period	$	90,763	$	75,543


Domo, Inc.
Reconciliation of Non-GAAP Financial Measures
(in thousands, except per share data)
(unaudited)

	Three Months Ended
	April 30,
	2019			2020
Reconciliation of Subscription Gross Margin on a GAAP Basis to Subscription Gross Margin on a Non-GAAP Basis:
Revenue:
Subscription	$	34,391		$	42,436
Cost of revenue:
Subscription	8,035			9,105
Subscription gross profit on a GAAP basis	26,356			33,331
Subscription gross margin on a GAAP basis	77		%	79		%

Stock-based compensation	123			226
Subscription gross profit on a non-GAAP basis	$	26,479		$	33,557
Subscription gross margin on a non-GAAP basis	77		%	79		%

Reconciliation of Total Operating Expenses on a GAAP Basis to Total Operating Expenses on a Non-GAAP Basis:
Total operating expenses on a GAAP basis	$	61,065		$	56,418
Stock-based compensation	(7,311)			(6,100)
Amortization of certain intangible assets	(20)			(20)
Reversal of contingent tax-related accrual	1,293			—
Total operating expenses on a non-GAAP basis	$	55,027		$	50,298

Reconciliation of Operating Loss on a GAAP Basis to Operating Loss on a Non-GAAP Basis:
Operating loss on a GAAP basis	$	(33,071)		$	(21,966)
Stock-based compensation	7,527			6,429
Amortization of certain intangible assets	20			20
Reversal of contingent tax-related accrual	(1,293)			—
Operating loss on a non-GAAP basis	$	(26,817)		$	(15,517)

Reconciliation of Operating Margin on a GAAP Basis to Operating Margin on a Non-GAAP Basis:
Operating margin on a GAAP basis	(81)		%	(45)		%
Stock-based compensation	18			13
Amortization of certain intangible assets	—			—
Reversal of contingent tax-related accrual	(3)			—
Operating margin on a non-GAAP basis	(66)		%	(32)		%

Reconciliation of Net Loss on a GAAP Basis to Net Loss on a Non-GAAP Basis:
Net loss on a GAAP basis	$	(35,536)		$	(24,895)
Stock-based compensation	7,575			6,476
Amortization of certain intangible assets	20			20
Reversal of contingent tax-related accrual	(1,293)			—
Net loss on a non-GAAP basis	$	(29,234)		$	(18,399)

Reconciliation of Net Loss per Share on a GAAP Basis to Net Loss per Share on a Non-GAAP Basis:
Net loss per share on a GAAP basis	$	(1.32)		$	(0.88)
Stock-based compensation	0.29			0.23
Amortization of certain intangible assets	—			—
Reversal of contingent tax-related accrual	(0.05)			—
Net loss per share on a non-GAAP basis	$	(1.08)		$	(0.65)