Exceeded Guidance for Key Metrics
In Q3, Domo exceeded its billings, revenue, and non-GAAP EPS guidance. Subscription RPO grew by 3% year-over-year, and subscription RPO beyond 12 months grew 14% year-over-year.
Growth in Subscription and Partner Engagement
The average contract length increased by 13%. Partner-sourced billings increased by more than 20% from Q2, and partner opportunities in North America increased by over 90% compared to Q2.
Successful Transition to Consumption Model
100% of new logo deals in Q3 were structured as consumption contracts, representing 55% of ARR. This is a significant transformation from 5% to over 60% expected by year-end.
AI and Ecosystem Strategy Momentum
Domo's AI solutions are being rapidly adopted, with significant success stories from customers, such as a marketing agency accomplishing more with Domo in two weeks than with a competitor in a year.