HUCK 8-K

Huckleberry.ai, Inc. (HUCK)

8-K 2021-03-11 For: 2021-03-11

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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 March 11, 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				Year Ended
	January 31,				January 31,
	2020		2021		2020		2021
Revenue:
Subscription	$	39,732	$	49,956	$	146,837	$	183,645
Professional services and other	6,439		6,887		26,558		26,535
Total revenue	46,171		56,843		173,395		210,180
Cost of revenue:
Subscription (1)	9,470		9,368		35,366		36,656
Professional services and other (1)	4,982		5,144		20,564		20,092
Total cost of revenue	14,452		14,512		55,930		56,748
Gross profit	31,719		42,331		117,465		153,432

Operating expenses:
Sales and marketing (1)	32,333		31,246		127,567		117,335
Research and development (1)	17,501		16,600		69,224		66,474
General and administrative (1), (2), (3)	9,059		11,353		35,941		42,708
Total operating expenses	58,893		59,199		232,732		226,517
Loss from operations	(27,174)		(16,868)		(115,267)		(73,085)

Other expense, net (1)	(2,460)		(2,784)		(9,635)		(11,140)
Loss before provision for income taxes	(29,634)		(19,652)		(124,902)		(84,225)
Provision for income taxes	225		(37)		754		409
Net loss	$	(29,859)	$	(19,615)	$	(125,656)	$	(84,634)

Net loss per share (basic and diluted)	$	(1.06)	$	(0.65)	$	(4.57)	$	(2.89)
Weighted-average number of shares (basic and diluted)	28,042		30,230		27,520		29,308


(1) Includes stock-based compensation expenses, as follows:
Cost of revenue:
Subscription	$	166	$	463	$	507	$	1,213
Professional services and other	128		349		404		843
Sales and marketing	2,586		3,266		10,770		10,936
Research and development	1,487		2,500		6,339		9,095
General and administrative	1,684		3,046		5,637		11,218
Other expense, net	48		177		190		444
Total stock-based compensation expenses	$	6,099	$	9,801	$	23,847	$	33,749

(2) Includes amortization of certain intangible assets, as follows:
General and administrative	$	20	$	20	$	80	$	80

(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,		January 31,
	2020		2021
Assets
Current assets:
Cash and cash equivalents	$	80,843	$	90,794
Short-term investments	17,967		—
Accounts receivable, net	47,967		48,272
Contract acquisition costs	12,676		13,894
Prepaid expenses and other current assets	12,809		12,216
Total current assets	172,262		165,176

Property and equipment, net	12,816		14,745
Right-of-use assets	—		3,663
Contract acquisition costs, noncurrent	17,083		18,605
Intangible assets, net	3,865		3,356
Goodwill	9,478		9,478
Other assets	1,234		1,415
Total assets	$	216,738	$	216,438

Liabilities and stockholders' deficit
Current liabilities:
Accounts payable	$	2,298	$	1,085
Accrued expenses and other current liabilities	46,473		51,950
Lease liabilities	—		3,808
Current portion of deferred revenue	105,290		129,079
Total current liabilities	154,061		185,922

Lease liabilities, noncurrent	—		1,556
Deferred revenue, noncurrent	4,454		3,173
Other liabilities, noncurrent	6,329		9,637
Long-term debt	101,074		99,609
Total liabilities	265,918		299,897

Commitments and contingencies


Stockholders' deficit:
Common stock	28		30
Additional paid-in capital	988,141		1,038,006
Accumulated other comprehensive income	389		877
Accumulated deficit	(1,037,738)		(1,122,372)
Total stockholders' deficit	(49,180)		(83,459)
Total liabilities and stockholders' deficit	$	216,738	$	216,438


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

	Three Months Ended				Year Ended
	January 31,				January 31,
	2020		2021		2020		2021
Cash flows from operating activities
Net loss	$	(29,859)	$	(19,615)	$	(125,656)	$	(84,634)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	1,610		1,275		6,917		4,765
Non-cash lease expense	—		972		—		3,969
Amortization of contract acquisition costs	3,274		3,799		11,777		14,376
Stock-based compensation	6,099		9,801		23,847		33,749
Other, net	1,143		884		1,959		4,340
Changes in operating assets and liabilities:
Accounts receivable, net	(13,916)		(10,484)		454		(305)
Contract acquisition costs	(4,161)		(6,836)		(13,178)		(16,775)
Prepaid expenses and other assets	(1,377)		(3,473)		(1,739)		566
Accounts payable	(596)		(3,738)		(292)		(1,341)
Operating lease liabilities	—		(1,121)		—		(3,685)
Accrued and other liabilities	3,726		6,089		(150)		6,595
Deferred revenue	18,779		25,995		15,842		22,508
Net cash (used in) provided by operating activities	(15,278)		3,548		(80,219)		(15,872)

Cash flows from investing activities
Purchases of property and equipment	(1,606)		(1,447)		(6,466)		(5,706)
Purchases of securities available for sale	(8,753)		—		(102,084)		(11,149)
Proceeds from maturities of securities available for sale	13,300		—		84,800		29,200
Purchases of intangible assets	(65)		6		(65)		(105)

Net cash provided by (used in) investing activities	2,876		(1,441)		(23,815)		12,240

Cash flows from financing activities



Proceeds from shares issued in connection with employee stock purchase plan	—		—		7,812		6,748
Shares repurchased for tax withholdings on vesting of restricted stock	(318)		(1,028)		(1,428)		(1,745)

Proceeds from exercise of stock options	99		5,587		1,600		8,092


Net cash (used in) provided by financing activities	(219)		4,559		7,984		13,095
Effect of exchange rate changes on cash and cash equivalents	(47)		315		(80)		488
Net (decrease) increase in cash and cash equivalents	(12,668)		6,981		(96,130)		9,951
Cash and cash equivalents at beginning of period	93,511		83,813		176,973		80,843
Cash and cash equivalents at end of period	$	80,843	$	90,794	$	80,843	$	90,794


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

	Three Months Ended						Year Ended
	January 31,						January 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	$	39,732		$	49,956		$	146,837		$	183,645
Cost of revenue:
Subscription	9,470			9,368			35,366			36,656
Subscription gross profit on a GAAP basis	30,262			40,588			111,471			146,989
Subscription gross margin on a GAAP basis	76		%	81		%	76		%	80		%

Stock-based compensation	166			463			507			1,213
Subscription gross profit on a non-GAAP basis	$	30,428		$	41,051		$	111,978		$	148,202
Subscription gross margin on a non-GAAP basis	77		%	82		%	76		%	81		%

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	$	58,893		$	59,199		$	232,732		$	226,517
Stock-based compensation	(5,757)			(8,812)			(22,746)			(31,249)
Amortization of certain intangible assets	(20)			(20)			(80)			(80)
Reversal of contingent tax-related accrual	—			—			1,293			—
Total operating expenses on a non-GAAP basis	$	53,116		$	50,367		$	211,199		$	195,188

Reconciliation of Operating Loss on a GAAP Basis to Operating Loss on a Non-GAAP Basis:
Operating loss on a GAAP basis	$	(27,174)		$	(16,868)		$	(115,267)		$	(73,085)
Stock-based compensation	6,051			9,624			23,657			33,305
Amortization of certain intangible assets	20			20			80			80
Reversal of contingent tax-related accrual	—			—			(1,293)			—
Operating loss on a non-GAAP basis	$	(21,103)		$	(7,224)		$	(92,823)		$	(39,700)

Reconciliation of Operating Margin on a GAAP Basis to Operating Margin on a Non-GAAP Basis:
Operating margin on a GAAP basis	(59)		%	(30)		%	(66)		%	(35)		%
Stock-based compensation	13			17			13			16
Amortization of certain intangible assets	—			—			—			—
Reversal of contingent tax-related accrual	—			—			(1)			—
Operating margin on a non-GAAP basis	(46)		%	(13)		%	(54)		%	(19)		%

Reconciliation of Net Loss on a GAAP Basis to Net Loss on a Non-GAAP Basis:
Net loss on a GAAP basis	$	(29,859)		$	(19,615)		$	(125,656)		$	(84,634)
Stock-based compensation	6,099			9,801			23,847			33,749
Amortization of certain intangible assets	20			20			80			80
Reversal of contingent tax-related accrual	—			—			(1,293)			—
Net loss on a non-GAAP basis	$	(23,740)		$	(9,794)		$	(103,022)		$	(50,805)

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	$	(1.06)		$	(0.65)		$	(4.57)		$	(2.89)
Stock-based compensation	0.21			0.33			0.88			1.16
Amortization of certain intangible assets	—			—			—			—
Reversal of contingent tax-related accrual	—			—			(0.05)			—
Net loss per share on a non-GAAP basis	$	(0.85)		$	(0.32)		$	(3.74)		$	(1.73)