HUCK 8-K

Huckleberry.ai, Inc. (HUCK)

8-K 2020-09-03 For: 2020-09-03

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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 September 3, 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						Six Months Ended
	July 31,						July 31,
	2019		2020		2019		2020
Revenue:
Subscription	$	34,873	$	44,347	$	69,264	$	86,783
Professional services and other	6,787		6,784		13,194		12,909
Total revenue	41,660		51,131		82,458		99,692
Cost of revenue:
Subscription (1)	8,816		8,811		16,851		17,916
Professional services and other (1)	5,395		4,838		10,164		9,842
Total cost of revenue	14,211		13,649		27,015		27,758
Gross profit	27,449		37,482		55,443		71,934

Operating expenses:
Sales and marketing (1)	29,501		27,384		65,450		56,480
Research and development (1)	17,046		15,917		34,145		33,370
General and administrative (1), (2), (3)	9,275		9,557		17,292		19,426
Total operating expenses	55,822		52,858		116,887		109,276
Loss from operations	(28,373)		(15,376)		(61,444)		(37,342)

Other expense, net (1)	(2,482)		(2,417)		(4,807)		(5,141)
Loss before provision for income taxes	(30,855)		(17,793)		(66,251)		(42,483)
Provision for income taxes	305		110		445		315
Net loss	$	(31,160)	$	(17,903)	$	(66,696)	$	(42,798)

Net loss per share (basic and diluted)	$	(1.14)	$	(0.62)	$	(2.45)	$	(1.49)
Weighted-average number of shares (basic and diluted)	27,418		29,001		27,196		28,728


(1) Includes stock-based compensation expenses, as follows:
Cost of revenue:
Subscription	$	67	$	147	$	190	$	373
Professional services and other	60		118		153		221
Sales and marketing	2,041		2,543		6,049		4,369
Research and development	1,294		2,002		3,359		3,879
General and administrative	1,182		2,323		2,420		4,720
Other expense, net	47		48		95		95
Total stock-based compensation expenses	$	4,691	$	7,181	$	12,266	$	13,657

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

(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,		July 31,
	2020		2020
Assets
Current assets:
Cash and cash equivalents	$	80,843	$	78,455
Short-term investments	17,967		4,899
Accounts receivable, net	47,967		34,933
Contract acquisition costs	12,676		12,872
Prepaid expenses and other current assets	12,809		9,756
Total current assets	172,262		140,915

Property and equipment, net	12,816		14,051
Right-of-use assets	—		10,214
Contract acquisition costs, noncurrent	17,083		16,008
Intangible assets, net	3,865		3,663
Goodwill	9,478		9,478
Other assets	1,234		806
Total assets	$	216,738	$	195,135

Liabilities and stockholders' deficit
Current liabilities:
Accounts payable	$	2,298	$	1,774
Accrued expenses and other current liabilities	46,473		41,105
Lease liabilities	—		4,076
Current portion of deferred revenue	105,290		101,982
Total current liabilities	154,061		148,937

Lease liabilities, noncurrent	—		7,159
Deferred revenue, noncurrent	4,454		2,248
Other liabilities, noncurrent	6,329		6,584
Long-term debt	101,074		103,075
Total liabilities	265,918		268,003

Commitments and contingencies


Stockholders' deficit:
Common stock	28		29
Additional paid-in capital	988,141		1,007,022
Accumulated other comprehensive income	389		617
Accumulated deficit	(1,037,738)		(1,080,536)
Total stockholders' deficit	(49,180)		(72,868)
Total liabilities and stockholders' deficit	$	216,738	$	195,135


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

	Three Months Ended						Six Months Ended
	July 31,						July 31,
	2019		2020		2019		2020
Cash flows from operating activities
Net loss	$	(31,160)	$	(17,903)	$	(66,696)	$	(42,798)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,852		1,071		3,616		2,364
Non-cash lease expense	—		1,002		—		1,953
Amortization of contract acquisition costs	2,817		3,512		5,495		6,920
Stock-based compensation	4,691		7,181		12,266		13,657
Other, net	656		943		(3)		1,822
Changes in operating assets and liabilities:
Accounts receivable, net	5,071		(5,289)		17,285		13,034
Contract acquisition costs	(2,924)		(3,966)		(4,986)		(5,892)
Prepaid expenses and other assets	1,105		3,352		(3,388)		3,565
Accounts payable	(1,109)		(639)		(558)		(594)
Operating lease liabilities	—		(663)		—		(1,568)
Accrued and other liabilities	3,123		10,098		(5,854)		(4,653)
Deferred revenue	(2,866)		(3,490)		(2,599)		(5,514)
Net cash used in operating activities	(18,744)		(4,791)		(45,422)		(17,704)

Cash flows from investing activities
Purchases of property and equipment	(1,703)		(1,791)		(3,177)		(3,154)
Purchases of securities available for sale	(15,936)		—		(78,944)		(11,149)
Proceeds from maturities of securities available for sale	43,500		7,700		43,500		24,300
Purchases of intangible assets	—		(1)		—		(105)

Net cash provided by (used in) investing activities	25,861		5,908		(38,621)		9,892

Cash flows from financing activities



Proceeds from shares issued in connection with employee stock purchase plan	—		(10)		4,518		3,649
Shares repurchased for tax withholdings on vesting of restricted stock	(112)		(485)		(1,012)		(523)

Proceeds from exercise of stock options	93		2,048		1,431		2,059


Net cash (used in) provided by financing activities	(19)		1,553		4,937		5,185
Effect of exchange rate changes on cash and cash equivalents	78		242		72		239
Net increase (decrease) in cash and cash equivalents	7,176		2,912		(79,034)		(2,388)
Cash and cash equivalents at beginning of period	90,763		75,543		176,973		80,843
Cash and cash equivalents at end of period	$	97,939	$	78,455	$	97,939	$	78,455


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,
	2019			2020			2019			2020
Reconciliation of Subscription Gross Margin on a GAAP Basis to Subscription Gross Margin on a Non-GAAP Basis:
Revenue:
Subscription	$	34,873		$	44,347		$	69,264		$	86,783
Cost of revenue:
Subscription	8,816			8,811			16,851			17,916
Subscription gross profit on a GAAP basis	26,057			35,536			52,413			68,867
Subscription gross margin on a GAAP basis	75		%	80		%	76		%	79		%

Stock-based compensation	67			147			190			373
Subscription gross profit on a non-GAAP basis	$	26,124		$	35,683		$	52,603		$	69,240
Subscription gross margin on a non-GAAP basis	75		%	80		%	76		%	80		%

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	$	55,822		$	52,858		$	116,887		$	109,276
Stock-based compensation	(4,517)			(6,868)			(11,828)			(12,968)
Amortization of certain intangible assets	(20)			(20)			(40)			(40)
Reversal of contingent tax-related accrual	—			—			1,293			—
Total operating expenses on a non-GAAP basis	$	51,285		$	45,970		$	106,312		$	96,268

Reconciliation of Operating Loss on a GAAP Basis to Operating Loss on a Non-GAAP Basis:
Operating loss on a GAAP basis	$	(28,373)		$	(15,376)		$	(61,444)		$	(37,342)
Stock-based compensation	4,644			7,133			12,171			13,562
Amortization of certain intangible assets	20			20			40			40
Reversal of contingent tax-related accrual	—			—			(1,293)			—
Operating loss on a non-GAAP basis	$	(23,709)		$	(8,223)		$	(50,526)		$	(23,740)

Reconciliation of Operating Margin on a GAAP Basis to Operating Margin on a Non-GAAP Basis:
Operating margin on a GAAP basis	(68)		%	(30)		%	(75)		%	(37)		%
Stock-based compensation	11			14			16			13
Amortization of certain intangible assets	—			—			—			—
Reversal of contingent tax-related accrual	—			—			(2)			—
Operating margin on a non-GAAP basis	(57)		%	(16)		%	(61)		%	(24)		%

Reconciliation of Net Loss on a GAAP Basis to Net Loss on a Non-GAAP Basis:
Net loss on a GAAP basis	$	(31,160)		$	(17,903)		$	(66,696)		$	(42,798)
Stock-based compensation	4,691			7,181			12,266			13,657
Amortization of certain intangible assets	20			20			40			40
Reversal of contingent tax-related accrual	—			—			(1,293)			—
Net loss on a non-GAAP basis	$	(26,449)		$	(10,702)		$	(55,683)		$	(29,101)

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	$	(1.14)		$	(0.62)		$	(2.45)		$	(1.49)
Stock-based compensation	0.18			0.25			0.45			0.48
Amortization of certain intangible assets	—			—			—			—
Reversal of contingent tax-related accrual	—			—			(0.05)			—
Net loss per share on a non-GAAP basis	$	(0.96)		$	(0.37)		$	(2.05)		$	(1.01)