HUCK 8-K

Huckleberry.ai, Inc. (HUCK)

8-K 2023-11-30 For: 2023-11-30

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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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
☐			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 November 30, 2023
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				Nine Months Ended
	October 31,				October 31,
	2022		2023		2022		2023
Revenue:
Subscription	$	69,041	$	71,293	$	201,022	$	213,594
Professional services and other	9,985		8,382		27,999		25,211
Total revenue	79,026		79,675		229,021		238,805
Cost of revenue:
Subscription (1)	11,342		11,523		32,721		33,588
Professional services and other (1)	7,572		7,253		22,167		22,847
Total cost of revenue	18,914		18,776		54,888		56,435
Gross profit	60,112		60,899		174,133		182,370

Operating expenses:
Sales and marketing (1), (3)	41,012		40,262		131,299		124,464
Research and development (1)	24,583		19,729		73,108		63,931
General and administrative (1), (2), (3)	13,029		12,130		42,514		35,509
Total operating expenses	78,624		72,121		246,921		223,904
Loss from operations	(18,512)		(11,222)		(72,788)		(41,534)

Other expense, net (1)	(5,032)		(4,930)		(12,383)		(14,549)
Loss before income taxes	(23,544)		(16,152)		(85,171)		(56,083)
Provision for income taxes	167		261		567		801
Net loss	$	(23,711)	$	(16,413)	$	(85,738)	$	(56,884)

Net loss per share (basic and diluted)	$	(0.69)	$	(0.45)	$	(2.53)	$	(1.59)
Weighted-average number of shares (basic and diluted)	34,392		36,310		33,893		35,812


(1) Includes stock-based compensation expenses, as follows:
Cost of revenue:
Subscription	$	667	$	670	$	2,176	$	1,958
Professional services and other	308		359		1,339		1,311
Sales and marketing	7,336		6,364		23,284		19,260
Research and development	5,909		4,621		19,196		14,214
General and administrative	4,807		4,174		18,319		10,642
Other expense, net	180		181		550		516
Total stock-based compensation expenses	$	19,207	$	16,369	$	64,864	$	47,901

(2) Includes amortization of certain intangible assets, as follows:
General and administrative	$	20	$	20	$	60	$	60




(3) Includes executive officer severance, as follows:
Sales and marketing	$	113	$	—	$	620	$	443
General and administrative	—		—		—		1,553
Total executive officer severance	$	113	$	—	$	620	$	1,996


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

	January 31,		October 31,
	2023		2023
Assets
Current assets:
Cash, cash equivalents, and restricted cash	$	66,500	$	57,387

Accounts receivable, net	78,958		55,208
Contract acquisition costs	15,908		15,794
Prepaid expenses and other current assets	7,447		7,881
Total current assets	168,813		136,270

Property and equipment, net	21,375		26,130
Right-of-use assets	15,255		12,333
Contract acquisition costs, noncurrent	22,299		19,601
Intangible assets, net	2,794		2,760
Goodwill	9,478		9,478
Other assets	2,102		1,647
Total assets	$	242,116	$	208,219

Liabilities and stockholders' deficit
Current liabilities:
Accounts payable	$	12,120	$	10,451
Accrued expenses and other current liabilities	49,306		43,510
Lease liabilities	4,905		4,407
Current portion of deferred revenue	182,273		158,522
Total current liabilities	248,604		216,890

Lease liabilities, noncurrent	15,271		12,161
Deferred revenue, noncurrent	3,609		4,236
Other liabilities, noncurrent	12,425		13,448
Long-term debt	108,607		112,255
Total liabilities	388,516		358,990

Commitments and contingencies


Stockholders' deficit:
Common stock	35		36
Additional paid-in capital	1,183,921		1,236,895
Accumulated other comprehensive loss	(322)		(784)
Accumulated deficit	(1,330,034)		(1,386,918)
Total stockholders' deficit	(146,400)		(150,771)
Total liabilities and stockholders' deficit	$	242,116	$	208,219


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

	Three Months Ended				Nine Months Ended
	October 31,				October 31,
	2022		2023		2022		2023
Cash flows from operating activities
Net loss	$	(23,711)	$	(16,413)	$	(85,738)	$	(56,884)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,269		1,636		4,089		4,738
Non-cash lease expense	987		1,063		3,362		3,235
Amortization of contract acquisition costs	4,247		4,398		12,825		13,354
Stock-based compensation	19,207		16,369		64,864		47,901
Other, net	1,135		1,072		3,027		3,643
Changes in operating assets and liabilities:
Accounts receivable, net	(4,166)		(3,022)		10,835		23,750
Contract acquisition costs	(4,405)		(4,016)		(11,687)		(10,921)
Prepaid expenses and other assets	1,282		291		2,063		(173)
Accounts payable	384		998		13,291		(966)
Operating lease liabilities	(1,239)		(1,237)		(3,378)		(4,054)
Accrued and other liabilities	3,527		(608)		(11,872)		(3,361)
Deferred revenue	(4,999)		(4,856)		(9,740)		(23,124)
Net cash used in operating activities	(6,482)		(4,325)		(8,059)		(2,862)

Cash flows from investing activities
Purchases of property and equipment	(1,657)		(2,714)		(5,073)		(9,214)


Purchases of intangible assets	—		—		—		(26)

Net cash used in investing activities	(1,657)		(2,714)		(5,073)		(9,240)

Cash flows from financing activities



Proceeds from shares issued in connection with employee stock purchase plan	—		1,374		1,563		3,406



Proceeds from structured payables	6,624		—		6,624		—
Payments on structured payables	(6,624)		—		(6,624)		—
Proceeds from exercise of stock options	56		62		861		65


Net cash provided by financing activities	56		1,436		2,424		3,471
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(729)		(862)		(1,771)		(482)
Net decrease in cash, cash equivalents, and restricted cash	(8,812)		(6,465)		(12,479)		(9,113)
Cash, cash equivalents, and restricted cash at beginning of period	79,894		63,852		83,561		66,500
Cash, cash equivalents, and restricted cash at end of period	$	71,082	$	57,387	$	71,082	$	57,387


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

	Three Months Ended						Nine Months Ended
	October 31,						October 31,
	2022			2023			2022			2023
Reconciliation of Subscription Gross Margin on a GAAP Basis to Subscription Gross Margin on a Non-GAAP Basis:
Revenue:
Subscription	$	69,041		$	71,293		$	201,022		$	213,594
Cost of revenue:
Subscription	11,342			11,523			32,721			33,588
Subscription gross profit on a GAAP basis	57,699			59,770			168,301			180,006
Subscription gross margin on a GAAP basis	84		%	84		%	84		%	84		%

Stock-based compensation	667			670			2,176			1,958
Subscription gross profit on a non-GAAP basis	$	58,366		$	60,440		$	170,477		$	181,964
Subscription gross margin on a non-GAAP basis	85		%	85		%	85		%	85		%

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	$	78,624		$	72,121		$	246,921		$	223,904
Stock-based compensation	(18,052)			(15,159)			(60,799)			(44,116)
Amortization of certain intangible assets	(20)			(20)			(60)			(60)

Executive officer severance (1)	(113)			—			(620)			(1,996)
Total operating expenses on a non-GAAP basis	$	60,439		$	56,942		$	185,442		$	177,732

Reconciliation of Operating Loss on a GAAP Basis to Operating Income (Loss) on a Non-GAAP Basis:
Operating loss on a GAAP basis	$	(18,512)		$	(11,222)		$	(72,788)		$	(41,534)
Stock-based compensation	19,027			16,188			64,314			47,385
Amortization of certain intangible assets	20			20			60			60

Executive officer severance (1)	113			—			620			1,996
Operating income (loss) on a non-GAAP basis	$	648		$	4,986		$	(7,794)		$	7,907

Reconciliation of Operating Margin on a GAAP Basis to Operating Margin on a Non-GAAP Basis:
Operating margin on a GAAP basis	(23)		%	(14)		%	(32)		%	(17)		%
Stock-based compensation	24			20			28			19


Executive officer severance (1)	—			—			1			1
Operating margin on a non-GAAP basis	1		%	6		%	(3)		%	3		%

Reconciliation of Net Loss on a GAAP Basis to Net Loss on a Non-GAAP Basis:
Net loss on a GAAP basis	$	(23,711)		$	(16,413)		$	(85,738)		$	(56,884)
Stock-based compensation	19,207			16,369			64,864			47,901
Amortization of certain intangible assets	20			20			60			60

Executive officer severance (1)	113			—			620			1,996
Net (loss) income on a non-GAAP basis	$	(4,371)		$	(24)		$	(20,194)		$	(6,927)

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	$	(0.69)		$	(0.45)		$	(2.53)		$	(1.59)
Stock-based compensation	0.56			0.45			1.91			1.34


Executive officer severance (1)	—			—			0.01			0.06
Net loss per share on a non-GAAP basis	$	(0.13)		$	—		$	(0.61)		$	(0.19)