HUCK 8-K

Huckleberry.ai, Inc. (HUCK)

8-K 2023-05-25 For: 2023-05-25

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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 May 25, 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
	April 30,
	2022		2023
Revenue:
Subscription	$	64,575	$	71,090
Professional services and other	9,889		8,368
Total revenue	74,464		79,458
Cost of revenue:
Subscription (1)	10,667		10,612
Professional services and other (1)	6,994		7,957
Total cost of revenue	17,661		18,569
Gross profit	56,803		60,889

Operating expenses:
Sales and marketing (1), (3)	45,587		43,162
Research and development (1)	23,191		23,435
General and administrative (1), (2), (3)	16,660		14,001
Total operating expenses	85,438		80,598
Loss from operations	(28,635)		(19,709)

Other expense, net (1)	(4,065)		(4,495)
Loss before income taxes	(32,700)		(24,204)
Provision for income taxes	188		199
Net loss	$	(32,888)	$	(24,403)

Net loss per share (basic and diluted)	$	(0.99)	$	(0.69)
Weighted-average number of shares (basic and diluted)	33,295		35,222


(1) Includes stock-based compensation expenses, as follows:
Cost of revenue:
Subscription	$	731	$	618
Professional services and other	468		479
Sales and marketing	8,075		6,730
Research and development	7,004		4,975
General and administrative	8,805		3,508
Other expense, net	181		162
Total stock-based compensation expenses	$	25,264	$	16,472

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




(3) Includes executive officer severance, as follows:
Sales and marketing	$	—	$	443
General and administrative	—		1,328
Total executive officer severance	$	—	$	1,771


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

	January 31,		April 30,
	2023		2023
Assets
Current assets:
Cash, cash equivalents, and restricted cash	$	66,500	$	65,988

Accounts receivable, net	78,958		56,890
Contract acquisition costs	15,908		15,694
Prepaid expenses and other current assets	7,447		8,441
Total current assets	168,813		147,013

Property and equipment, net	21,375		22,160
Right-of-use assets	15,255		14,406
Contract acquisition costs, noncurrent	22,299		20,906
Intangible assets, net	2,794		2,774
Goodwill	9,478		9,478
Other assets	2,102		2,453
Total assets	$	242,116	$	219,190

Liabilities and stockholders' deficit
Current liabilities:
Accounts payable	$	12,120	$	12,452
Accrued expenses and other current liabilities	49,306		39,656
Lease liabilities	4,905		4,912
Current portion of deferred revenue	182,273		173,646
Total current liabilities	248,604		230,666

Lease liabilities, noncurrent	15,271		14,101
Deferred revenue, noncurrent	3,609		3,077
Other liabilities, noncurrent	12,425		12,741
Long-term debt	108,607		109,774
Total liabilities	388,516		370,359

Commitments and contingencies


Stockholders' deficit:
Common stock	35		35
Additional paid-in capital	1,183,921		1,203,375
Accumulated other comprehensive loss	(322)		(142)
Accumulated deficit	(1,330,034)		(1,354,437)
Total stockholders' deficit	(146,400)		(151,169)
Total liabilities and stockholders' deficit	$	242,116	$	219,190


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

	Three Months Ended
	April 30,
	2022		2023
Cash flows from operating activities
Net loss	$	(32,888)	$	(24,403)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,607		1,491
Non-cash lease expense	1,198		1,149
Amortization of contract acquisition costs	4,312		4,568
Stock-based compensation	25,264		16,472
Other, net	920		1,517
Changes in operating assets and liabilities:
Accounts receivable, net	17,515		22,068
Contract acquisition costs	(3,203)		(3,073)
Prepaid expenses and other assets	(5,803)		(1,397)
Accounts payable	8,085		1,490
Operating lease liabilities	(502)		(1,597)
Accrued and other liabilities	(14,186)		(8,298)
Deferred revenue	(1,538)		(9,159)
Net cash provided by operating activities	781		828

Cash flows from investing activities
Purchases of property and equipment	(1,937)		(3,576)




Net cash used in investing activities	(1,937)		(3,576)

Cash flows from financing activities



Proceeds from shares issued in connection with employee stock purchase plan	1,563		2,032





Proceeds from exercise of stock options	724		—


Net cash provided by financing activities	2,287		2,032
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(697)		204
Net increase (decrease) in cash, cash equivalents, and restricted cash	434		(512)
Cash, cash equivalents, and restricted cash at beginning of period	83,561		66,500
Cash, cash equivalents, and restricted cash at end of period	$	83,995	$	65,988


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

	Three Months Ended
	April 30,
	2022			2023
Reconciliation of Subscription Gross Margin on a GAAP Basis to Subscription Gross Margin on a Non-GAAP Basis:
Revenue:
Subscription	$	64,575		$	71,090
Cost of revenue:
Subscription	10,667			10,612
Subscription gross profit on a GAAP basis	53,908			60,478
Subscription gross margin on a GAAP basis	83		%	85		%

Stock-based compensation	731			618
Subscription gross profit on a non-GAAP basis	$	54,639		$	61,096
Subscription gross margin on a non-GAAP basis	85		%	86		%

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	$	85,438		$	80,598
Stock-based compensation	(23,884)			(15,213)
Amortization of certain intangible assets	(20)			(20)

Executive officer severance	—			(1,771)
Total operating expenses on a non-GAAP basis	$	61,534		$	63,594

Reconciliation of Operating Loss on a GAAP Basis to Operating Loss on a Non-GAAP Basis:
Operating loss on a GAAP basis	$	(28,635)		$	(19,709)
Stock-based compensation	25,083			16,310
Amortization of certain intangible assets	20			20

Executive officer severance	—			1,771
Operating loss on a non-GAAP basis	$	(3,532)		$	(1,608)

Reconciliation of Operating Margin on a GAAP Basis to Operating Margin on a Non-GAAP Basis:
Operating margin on a GAAP basis	(38)		%	(25)		%
Stock-based compensation	33			21


Executive officer severance	—			2
Operating margin on a non-GAAP basis	(5)		%	(2)		%

Reconciliation of Net Loss on a GAAP Basis to Net Loss on a Non-GAAP Basis:
Net loss on a GAAP basis	$	(32,888)		$	(24,403)
Stock-based compensation	25,264			16,472
Amortization of certain intangible assets	20			20

Executive officer severance	—			1,771
Net loss on a non-GAAP basis	$	(7,604)		$	(6,140)

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	$	(0.99)		$	(0.69)
Stock-based compensation	0.76			0.47


Executive officer severance	—			0.05
Net loss per share on a non-GAAP basis	$	(0.23)		$	(0.17)