Domo, Inc.

Good afternoon.

On the call today, we're joined by Josh James, our founder and CEO, and Todd Crane, our chief financial officer. I'll start out with our safe harbor statement and then on to the call. Our press release was issued after the market closed and is available on the investor relations section of our website. Please note, this call contains forward-looking statements about our business as defined under federal securities laws. These statements involve risks, uncertainties, and assumptions, including but not limited to statements and projections about our future financial performance, growth prospects, cash position, sales efforts, technology developments, new business opportunities, transactions and initiatives, the potential impact of artificial intelligence, and macroeconomic factors on our business. For a detailed discussion of these risks and uncertainties, please refer to our public filings, including today's press release, our most recent annual report on Form 10-K, and quarterly report on Form 10-Q, all available on the SEC website. These documents list important risk factors that could cause our actual results to differ materially from our forward-looking statements. We will also discuss non-GAAP financial measures during the call which we use as supplemental indicators of Domo's performance. Other than revenue, unless otherwise stated, we will be discussing our results on a non-GAAP basis. These measures should be viewed as complements to, not substitutes for, our GAAP results. Please see the reconciliation of our non-GAAP results to their most directly comparable GAAP measure on our investor relations website at domoinvestors.com. With that, I'll turn it over to Josh. Josh?

Thank you, Pete. Hello, everyone. And thanks for joining us on the call today. I'm thrilled by what we've accomplished this quarter. In Q2, we beat our guidance on billings, revenue, and delivered our first ever positive non-gap EPS, all while generating positive free cash flow. I was especially excited to see that the NRR for customers who first purchased Domo on a consumption contract was 108%, which we believe is a strong indicator of where the consumption model is headed. These results are a testament to our transformation and momentum. Reflecting on the past few years, our focus has been singular, drive sustainable, profitable growth. We've overhauled our approach, doubling down on our ecosystem, embracing a partner-centric go-to-market strategy and moving decisively to a consumption-based model. Let me review some of the progress we've made. Two years ago, we had zero cloud data warehouse partners, or CDW partners. Today, we have five of the largest and most important CDWs. Back then, consumption customers were just a few percentage points of our ARR, And now over 75% of our ARR is on consumption. What an incredible transformation in just two years. Where sales productivity and new ACV once lagged, now they're performing as strong as ever. The new business engine is firing on all cylinders. Our turnaround is visible in multiple areas over the past year. New ACV growth, has accelerated every quarter. After a double-digit decline in Q3 fiscal year 25, we have accelerated to growth approaching 20%, the highest we've seen in three and a half years. Our year-over-year Salesforce productivity growth has accelerated from 19% in Q3 FY25 to a stunning 67% in Q2 FY26. Subscription RPO growth has accelerated from 3% in Q3 FY25 to 19% in Q2 FY26. I'm incredibly excited that with the same starting pipeline we had at the beginning of Q1, we closed nearly 50% more new ACV in Q2. Picture our business as a store. The foot traffic stayed the same, yet almost 50% more people stopped at the cash register on the way out. You could also think of this massive improvement in conversion rates, like adding lanes to our highway, allowing more new business to flow through. On top of that, our focus on stronger partnerships means we have a new freeway coming into town, and we're building multiple on-ramps to direct that traffic onto our newly expanded highway. The best part? The impact is just beginning, and we expect it to accelerate from here. So if the best is yet to come in partner sourced new ACV, what has been powering our growth engine? First, the surge in demand for advanced AI solutions. Businesses want more than dashboards. They want end-to-end modern platforms that unlock the potential of LLMs and AI. To truly deliver business value, you need much more than a UI. You need seamless data access, robust ETL, a semantic layer, workflow automation, security and governance, and flexible delivery, either autonomous or human in the loop. With Domo and our CDW partners, that's exactly what we offer. BI as a simple dashboard concept is dead. But the spending environment for infrastructure and services to capitalize on the promise of AI is very healthy. And we, along with our CDW partners, are very much benefiting from this trend. We have said that we were built for this moment, and that is because, unlike our traditional dashboard competitors, we built a complete, integrated, modern AI and analytics stack from day one. Our platform is designed for where business intelligence is headed, not where it's been. We've also streamlined our go-to-market and R&D focus, cutting distractions by concentrating on strategic priorities, especially AI solutions and ecosystem partnerships. We are increasingly engaging with our customers using a strategic, consultative approach, and this is resulting in longer-term contracts and fueling our RPO growth. There have been some early tailwinds from consumption. We have escalators built into many of our multi-year consumption contracts, and we are starting to get benefit from some of those increases. The trends from consumption renewals are encouraging, with both gross and net retention being well above the seat-based cohort. As more of our renewals come from consumption, we expect to see more uplift. Our partner friendly approach has brought us into many more conversations and has definitely helped us in the market. I'd like to highlight a real world example, the kind of partner driven outcome that's becoming our new normal. One of our larger customers was up for renewal and we were preparing for what looked like a challenging conversation. Our customer was carefully scrutinizing technology spend across the board, so we knew we had to be strategic. We knew that they were also a customer of one of our CDW partners, so we began joint planning sessions, bringing our teams together to find a creative way forward. Through this collaboration, we constructed a solution that was truly a win-win. We helped the customer transition from a traditional seat-based licensing model to consumption, which also opened the door for an upsell and a three-year contract. Importantly, they were able to leverage their existing spend commitment with our CDW partner by purchasing our product through their marketplace, allowing our customer to increase their usage of our platform without needing any approvals for extra budget. This would not have been possible without our partnership with the CDW, the availability of our platform on their marketplace, and the flexibility built into our consumption model. Building on this success, we're now actively co-selling into additional business units within the customer's organization with streamlined procurement processes, direct access to lines of business, and a strong endorsement from our CDW partner with the IT department. This is a perfect example of how our ecosystem approach is benefiting us in ways that extend beyond partner sourced new business. Lastly, the improvements in our results have been driven by a team that is committed and motivated. It has been a lot of work over the past few years to get us to where we are now, and no one is taking our future success with the ecosystem and with AI for granted. Now, digging deeper into Q2, International momentum was especially strong. Japan set new records. New ACV there nearly doubled year over year. TCV hit all-time highs, and the deals up for renewal in the quarter saw an NRR of close to 130%. Japan is a huge focus for me, and I plan on continuing to spend time there even more over the next year. We strengthened our ecosystem with deeper integrations into Snowflake and three other CDW partners, Databricks, Oracle, and Google. In fact, this week, we announced the details on our enhanced integrations and capabilities with Snowflake and BigQuery. And our presence at flagship industry events like the Snowflake and Databricks conferences was nothing short of electric. with customers eager to discuss transformative AI use cases leveraging our joint solutions. We generated thousands of leads and since then have held dozens of meetings with sales reps and managers across the CDWs. This resulted in us identifying many joint selling opportunities that would have not been possible when we were flying solo, including several Palantir takeouts. Building on this momentum, we announced an expanded collaboration with Snowflake for a fully managed AI-powered analytics solution in their marketplace, with similar collaborations with other CDW partners on the way. Let me share some highlights from a few of our Q2 customer wins. A home improvement company referred by a CDW partner chose Domo in a three-year deal to replace Power BI and consolidate their tech stack with a joint offering of Domo and our CDW partner. The customer valued our consumption-based pricing, which removes user limits and enables broad access for sales and customer service teams. They're eager to expand usage of our platform's workflows and AI capabilities to enhance reporting and operational insights. Next, we secured a significant upsell with a fast-growing technology customer. They expanded Domo usage to reduce IT headcount and avoid disruption during a critical data warehouse migration. Our cloud-agnostic approach, CDW integrations, and platform features like self-serve, workflows, and Domo Everywhere, which is our embed product, were key to the win. Partner collaboration with their IT team ensured a smooth transition to our consumption model with increased capacity, again, purchased via the CDW marketplace. We also closed a major new logo with a global retail company after an eight-month evaluation of multiple solutions, including Looker, Power BI, Tableau, and custom-built options. They, of course, selected Domo, for its ease of use, data integration, data aggregation, I should say, and AI-driven insights with our proof of concept delivering results in days compared to months for the others. The consumption model also was critical, providing access to premium features that were essential to their needs. Finally, a private equity firm fully embraced our consumption model with a multiple seven-figure deal to unlock greater value, features, and cost savings as they scale Domo across their portfolio companies. Focused on AI agents, workflows, and sandbox, they plan to develop multiple AI use cases to drive broader adoption. This alignment with their long-term vision led to a five-year consumption contract, increasing ACV by 3.5 times over that five-year time period and expanding Domo from three companies to every single business in their portfolio. Each of these illustrates the clear market demand for AI-driven business value, the accelerating impact of our partner ecosystem, the value of our consumption model, and a shift to long-term strategic Domo relationships. Building on this strong momentum, Domo earned top honors across several leading industry reports and awards in Q2. Domo was named a leader in the 2025 Nucleus Research BI and Analytics Technology Value Matrix. We were also recognized as a leader in Dresdner Advisory Service's 2025 Wisdom of Crowds BI Market Study, in which Domo received its ninth consecutive perfect recommendation score domo's ongoing commitment to attract and advancing top talent was highlighted in being named to the women tech the women tech council shatter list for the eighth consecutive year as well as being named to the 2025 parody list parody.org's program recognizing the best companies for equal advancement opportunity looking forward our game plan is simple Keep innovating with AI. Keep deepening partner ties. Keep fueling consumption. And keep building new lanes to help more customers accelerate with Domo. I'm tremendously proud of the accomplishments we've made over the past few years. I've seen evidence that we are not only turning the corner, we're picking up speed and are well positioned to accelerate our growth profitably over the coming quarters and years to come. And with that, I'll hand it over to our Chief Financial Officer, Todd with 1D Crane.