HUCK 8-K

Huckleberry.ai, Inc. (HUCK)

8-K 2021-12-02 For: 2021-12-02

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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 December 2, 2021
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,
	2020		2021		2020		2021
Revenue:
Subscription	$	46,906	$	56,621	$	133,689	$	163,399
Professional services and other	6,739		8,460		19,648		24,569
Total revenue	53,645		65,081		153,337		187,968
Cost of revenue:
Subscription (1)	9,372		10,514		27,288		29,590
Professional services and other (1)	5,106		6,630		14,948		19,030
Total cost of revenue	14,478		17,144		42,236		48,620
Gross profit	39,167		47,937		111,101		139,348

Operating expenses:
Sales and marketing (1)	29,609		37,503		86,089		104,335
Research and development (1)	16,504		21,984		49,874		57,511
General and administrative (1), (2)	11,929		13,430		31,355		36,032
Total operating expenses	58,042		72,917		167,318		197,878
Loss from operations	(18,875)		(24,980)		(56,217)		(58,530)

Other expense, net (1)	(3,215)		(3,471)		(8,356)		(10,238)
Loss before income taxes	(22,090)		(28,451)		(64,573)		(68,768)
Provision for income taxes	131		62		446		89
Net loss	$	(22,221)	$	(28,513)	$	(65,019)	$	(68,857)

Net loss per share (basic and diluted)	$	(0.75)	$	(0.88)	$	(2.24)	$	(2.17)
Weighted-average number of shares (basic and diluted)	29,533		32,363		28,998		31,758


(1) Includes stock-based compensation expenses, as follows:
Cost of revenue:
Subscription	$	377	$	800	$	750	$	1,768
Professional services and other	273		563		494		1,168
Sales and marketing	3,301		6,718		7,670		15,192
Research and development	2,716		5,363		6,595		10,603
General and administrative	3,452		4,543		8,172		11,596
Other expense, net	172		176		267		524
Total stock-based compensation expenses	$	10,291	$	18,163	$	23,948	$	40,851

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


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

	January 31,		October 31,
	2021		2021
Assets
Current assets:
Cash and cash equivalents	$	90,794	$	84,245

Accounts receivable, net	48,272		38,895
Contract acquisition costs	13,894		13,795
Prepaid expenses and other current assets	12,216		7,314
Total current assets	165,176		144,249

Property and equipment, net	14,745		16,998
Right-of-use assets	3,663		17,738
Contract acquisition costs, noncurrent	18,605		18,474
Intangible assets, net	3,356		2,895
Goodwill	9,478		9,478
Other assets	1,415		1,301
Total assets	$	216,438	$	211,133

Liabilities and stockholders' deficit
Current liabilities:
Accounts payable	$	1,085	$	12,021
Accrued expenses and other current liabilities	51,950		44,903
Lease liabilities	3,808		3,117
Current portion of deferred revenue	129,079		130,385
Total current liabilities	185,922		190,426

Lease liabilities, noncurrent	1,556		17,565
Deferred revenue, noncurrent	3,173		2,352
Other liabilities, noncurrent	9,637		10,495
Long-term debt	99,609		102,852
Total liabilities	299,897		323,690

Commitments and contingencies


Stockholders' deficit:
Common stock	30		32
Additional paid-in capital	1,038,006		1,077,993
Accumulated other comprehensive income	877		647
Accumulated deficit	(1,122,372)		(1,191,229)
Total stockholders' deficit	(83,459)		(112,557)
Total liabilities and stockholders' deficit	$	216,438	$	211,133


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

	Three Months Ended				Nine Months Ended
	October 31,				October 31,
	2020		2021		2020		2021
Cash flows from operating activities
Net loss	$	(22,221)	$	(28,513)	$	(65,019)	$	(68,857)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	1,126		1,533		3,490		3,789
Non-cash lease expense	1,044		1,224		2,997		3,540
Amortization of contract acquisition costs	3,657		3,944		10,577		11,779
Stock-based compensation	10,291		18,163		23,948		40,851
Other, net	1,634		877		3,456		2,663
Changes in operating assets and liabilities:
Accounts receivable, net	(2,855)		(7,746)		10,179		9,377
Contract acquisition costs	(4,047)		(4,354)		(9,939)		(11,719)
Prepaid expenses and other assets	474		664		4,039		4,949
Accounts payable	2,991		4,652		2,397		10,965
Operating lease liabilities	(996)		(669)		(2,564)		(2,380)
Accrued and other liabilities	5,159		5,131		506		(5,972)
Deferred revenue	2,027		5,123		(3,487)		485
Net cash (used in) provided by operating activities	(1,716)		29		(19,420)		(530)

Cash flows from investing activities
Purchases of property and equipment	(1,105)		(1,547)		(4,259)		(4,965)
Purchases of securities available for sale	—		—		(11,149)		—
Proceeds from maturities of securities available for sale	4,900		—		29,200		—
Purchases of intangible assets	(6)		—		(111)		—

Net cash provided by (used in) investing activities	3,789		(1,547)		13,681		(4,965)

Cash flows from financing activities



Proceeds from shares issued in connection with employee stock purchase plan	3,099		—		6,748		4,133
Shares repurchased for tax withholdings on vesting of restricted stock	(194)		(1,280)		(717)		(8,858)

Proceeds from exercise of stock options	446		745		2,505		3,908


Net cash provided by (used in) financing activities	3,351		(535)		8,536		(817)
Effect of exchange rate changes on cash and cash equivalents	(66)		(75)		173		(237)
Net increase (decrease) in cash and cash equivalents	5,358		(2,128)		2,970		(6,549)
Cash and cash equivalents at beginning of period	78,455		86,373		80,843		90,794
Cash and cash equivalents at end of period	$	83,813	$	84,245	$	83,813	$	84,245


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,
	2020			2021			2020			2021
Reconciliation of Subscription Gross Margin on a GAAP Basis to Subscription Gross Margin on a Non-GAAP Basis:
Revenue:
Subscription	$	46,906		$	56,621		$	133,689		$	163,399
Cost of revenue:
Subscription	9,372			10,514			27,288			29,590
Subscription gross profit on a GAAP basis	37,534			46,107			106,401			133,809
Subscription gross margin on a GAAP basis	80		%	81		%	80		%	82		%

Stock-based compensation	377			800			750			1,768
Subscription gross profit on a non-GAAP basis	$	37,911		$	46,907		$	107,151		$	135,577
Subscription gross margin on a non-GAAP basis	81		%	83		%	80		%	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	$	58,042		$	72,917		$	167,318		$	197,878
Stock-based compensation	(9,469)			(16,624)			(22,437)			(37,391)
Amortization of certain intangible assets	(20)			(20)			(60)			(60)

Total operating expenses on a non-GAAP basis	$	48,553		$	56,273		$	144,821		$	160,427

Reconciliation of Operating Loss on a GAAP Basis to Operating Loss on a Non-GAAP Basis:
Operating loss on a GAAP basis	$	(18,875)		$	(24,980)		$	(56,217)		$	(58,530)
Stock-based compensation	10,119			17,987			23,681			40,327
Amortization of certain intangible assets	20			20			60			60

Operating loss on a non-GAAP basis	$	(8,736)		$	(6,973)		$	(32,476)		$	(18,143)

Reconciliation of Operating Margin on a GAAP Basis to Operating Margin on a Non-GAAP Basis:
Operating margin on a GAAP basis	(35)		%	(38)		%	(37)		%	(31)		%
Stock-based compensation	19			27			16			21


Operating margin on a non-GAAP basis	(16)		%	(11)		%	(21)		%	(10)		%

Reconciliation of Net Loss on a GAAP Basis to Net Loss on a Non-GAAP Basis:
Net loss on a GAAP basis	$	(22,221)		$	(28,513)		$	(65,019)		$	(68,857)
Stock-based compensation	10,291			18,163			23,948			40,851
Amortization of certain intangible assets	20			20			60			60

Net loss on a non-GAAP basis	$	(11,910)		$	(10,330)		$	(41,011)		$	(27,946)

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	$	(0.75)		$	(0.88)		$	(2.24)		$	(2.17)
Stock-based compensation	0.35			0.56			0.83			1.29


Net loss per share on a non-GAAP basis	$	(0.40)		$	(0.32)		$	(1.41)		$	(0.88)