HUCK 8-K

Huckleberry.ai, Inc. (HUCK)

8-K 2024-08-29 For: 2024-08-29

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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 Aug 29, 2024
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				Six Months Ended
	July 31,				July 31,
	2023		2024		2023		2024
Revenue:
Subscription	$	71,211	$	70,921	$	142,301	$	143,031
Professional services and other	8,461		7,486		16,829		15,479
Total revenue	79,672		78,407		159,130		158,510
Cost of revenue:
Subscription (1)	11,453		13,301		22,065		26,076
Professional services and other (1)	7,637		6,823		15,594		14,762
Total cost of revenue	19,090		20,124		37,659		40,838
Gross profit	60,582		58,283		121,471		117,672

Operating expenses:
Sales and marketing (1), (3)	41,040		36,627		84,202		78,846
Research and development (1)	20,767		21,969		44,202		44,688
General and administrative (1), (2), (3)	9,378		14,174		23,379		30,075
Total operating expenses	71,185		72,770		151,783		153,609
Loss from operations	(10,603)		(14,487)		(30,312)		(35,937)

Other expense, net (1), (4)	(5,124)		(4,752)		(9,619)		(9,183)
Loss before income taxes	(15,727)		(19,239)		(39,931)		(45,120)
Provision for income taxes	341		251		540		377
Net loss	$	(16,068)	$	(19,490)	$	(40,471)	$	(45,497)

Net loss per share (basic and diluted)	$	(0.45)	$	(0.51)	$	(1.14)	$	(1.20)
Weighted-average number of shares (basic and diluted)	35,884		38,389		35,558		37,943


(1) Includes stock-based compensation expenses, as follows:
Cost of revenue:
Subscription	$	670	$	807	$	1,288	$	1,605
Professional services and other	473		314		952		647
Sales and marketing	6,166		5,170		12,896		10,484
Research and development	4,618		4,069		9,593		8,491
General and administrative	2,960		5,911		6,468		8,995
Other expense, net	173		202		335		393
Total stock-based compensation expenses	$	15,060	$	16,473	$	31,532	$	30,615

(2) Includes amortization of certain intangible assets, as follows:
General and administrative	$	20	$	142	$	40	$	284




(3) Includes executive officer severance, as follows:
Sales and marketing	$	—	$	—	$	443	$	—
General and administrative	225		—		1,553		—
Total executive officer severance	$	225	$	—	$	1,996	$	—

(4) Includes remeasurement of warrant liability, as follows:
Other expense, net	$	—	$	144	$	—	$	(422)


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

	January 31,		July 31,
	2024		2024
Assets
Current assets:
Cash, cash equivalents, and restricted cash	$	60,939	$	55,704

Accounts receivable, net	67,197		48,688
Contract acquisition costs	16,006		15,266
Prepaid expenses and other current assets	9,602		9,171
Total current assets	153,744		128,829

Property and equipment, net	27,003		27,195
Right-of-use assets	11,746		10,942
Contract acquisition costs, noncurrent	19,542		17,339
Intangible assets, net	2,740		2,409
Goodwill	9,478		9,478
Other assets	1,407		1,565
Total assets	$	225,660	$	197,757

Liabilities and stockholders' deficit
Current liabilities:
Accounts payable	$	4,313	$	18,418
Accrued expenses and other current liabilities	43,430		39,004
Lease liabilities	4,807		5,597
Current portion of deferred revenue	185,250		161,601
Total current liabilities	237,800		224,620

Lease liabilities, noncurrent	11,135		9,110
Deferred revenue, noncurrent	2,736		1,997
Other liabilities, noncurrent	14,001		13,180
Long-term debt	113,534		115,211
Total liabilities	379,206		364,118

Commitments and contingencies


Stockholders' deficit:
Common stock	37		38
Additional paid-in capital	1,252,200		1,284,781
Accumulated other comprehensive loss	(180)		(80)
Accumulated deficit	(1,405,603)		(1,451,100)
Total stockholders' deficit	(153,546)		(166,361)
Total liabilities and stockholders' deficit	$	225,660	$	197,757


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

	Three Months Ended				Six Months Ended
	July 31,				July 31,
	2023		2024		2023		2024
Cash flows from operating activities
Net loss	$	(16,068)	$	(19,490)	$	(40,471)	$	(45,497)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	1,611		2,507		3,102		4,863
Non-cash lease expense	1,023		1,098		2,172		2,178
Amortization of contract acquisition costs	4,388		4,426		8,956		8,727
Stock-based compensation	15,060		16,473		31,532		30,615
Remeasurement of warrant liability	—		143		—		(423)
Other, net	1,054		886		2,571		1,944
Changes in operating assets and liabilities:
Accounts receivable, net	4,704		(840)		26,772		18,509
Contract acquisition costs	(3,832)		(3,809)		(6,905)		(5,804)
Prepaid expenses and other assets	933		621		(464)		276
Accounts payable	(3,454)		4,825		(1,964)		11,503
Operating lease liabilities	(1,220)		(1,328)		(2,817)		(2,608)
Accrued and other liabilities	5,545		(1,902)		(2,753)		(4,165)
Deferred revenue	(9,109)		(9,781)		(18,268)		(24,388)
Net cash provided by (used in) operating activities	635		(6,171)		1,463		(4,270)

Cash flows from investing activities
Purchases of property and equipment	(2,924)		(2,204)		(6,500)		(4,730)


Purchases of intangible assets	(26)		—		(26)		—

Net cash used in investing activities	(2,950)		(2,204)		(6,526)		(4,730)

Cash flows from financing activities



Proceeds from shares issued in connection with employee stock purchase plan	—		—		2,032		1,121

Shares repurchased for tax withholdings on vesting of restricted stock	—		(208)		—		(208)

Proceeds from structured payables	—		2,782		—		2,782

Proceeds from exercise of stock options	3		—		3		—


Net cash provided by (used in) financing activities	3		2,574		2,035		3,695
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	176		347		380		70
Net decrease in cash, cash equivalents, and restricted cash	(2,136)		(5,454)		(2,648)		(5,235)
Cash, cash equivalents, and restricted cash at beginning of period	65,988		61,158		66,500		60,939
Cash, cash equivalents, and restricted cash at end of period	$	63,852	$	55,704	$	63,852	$	55,704


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

	Three Months Ended						Six Months Ended
	July 31,						July 31,
	2023			2024			2023			2024
Reconciliation of Subscription Gross Margin on a GAAP Basis to Subscription Gross Margin on a Non-GAAP Basis:
Revenue:
Subscription	$	71,211		$	70,921		$	142,301		$	143,031
Cost of revenue:
Subscription	11,453			13,301			22,065			26,076
Subscription gross profit on a GAAP basis	59,758			57,620			120,236			116,955
Subscription gross margin on a GAAP basis	84		%	81		%	84		%	82		%

Stock-based compensation	670			807			1,288			1,605
Subscription gross profit on a non-GAAP basis	$	60,428		$	58,427		$	121,524		$	118,560
Subscription gross margin on a non-GAAP basis	85		%	82		%	85		%	83		%

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	$	71,185		$	72,770		$	151,783		$	153,609
Stock-based compensation	(13,744)			(15,150)			(28,957)			(27,970)
Amortization of certain intangible assets	(20)			(142)			(40)			(284)

Executive officer severance	(225)			—			(1,996)			—
Total operating expenses on a non-GAAP basis	$	57,196		$	57,478		$	120,790		$	125,355

Reconciliation of Operating Loss on a GAAP Basis to Operating Loss on a Non-GAAP Basis:
Operating loss on a GAAP basis	$	(10,603)		$	(14,487)		$	(30,312)		$	(35,937)
Stock-based compensation	14,887			16,271			31,197			30,222
Amortization of certain intangible assets	20			142			40			284

Executive officer severance	225			—			1,996			—
Operating loss on a non-GAAP basis	$	4,529		$	1,926		$	2,921		$	(5,431)

Reconciliation of Operating Margin on a GAAP Basis to Operating Margin on a Non-GAAP Basis:
Operating margin on a GAAP basis	(13)		%	(18)		%	(19)		%	(23)		%
Stock-based compensation	19			20			20			20


Executive officer severance	—			—			1			—
Operating margin on a non-GAAP basis	6		%	2		%	2		%	(3)		%

Reconciliation of Net Loss on a GAAP Basis to Net Loss on a Non-GAAP Basis:
Net loss on a GAAP basis	$	(16,068)		$	(19,490)		$	(40,471)		$	(45,497)
Stock-based compensation	15,060			16,473			31,532			30,615
Amortization of certain intangible assets	20			142			40			284

Executive officer severance	225			—			1,996			—
Remeasurement of warrant liability	—			144			—			(422)
Net loss on a non-GAAP basis	$	(763)		$	(2,731)		$	(6,903)		$	(15,020)

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	$	(0.45)		$	(0.51)		$	(1.14)		$	(1.20)
Stock-based compensation	0.42			0.43			0.89			0.81


Executive officer severance	0.01			—			0.06			—
Remeasurement of warrant liability	—			0.01			—			(0.01)
Net loss per share on a non-GAAP basis	$	(0.02)		$	(0.07)		$	(0.19)		$	(0.40)