An asset that has significant value but has no physical presence and provides a business long-term financial value is called as an "intangible asset." Identifiable intangible assets are those that the company can market separately, that can be separated from other assets, and that can be identified. Examples of distinguishable intangible assets include intellectual property, including patents, trademarks, and copyrights, as well as non-cash government grants, such as airport landing rights or broadcasting licenses. A trademark is a sign that can be used to separate the products or services of one company from those of other companies. Intellectual property rights offer protection for trademarks. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Domo’s gross value of intangible assets dropped from $5.01 million in FY2021 to $3.41 million in FY2022, a decrease of 31.9%. In FY2022, the company's net value of intangible assets was $2.88 million. Intellectual property and Patents accounted for $2.46 million and $0.95 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $0.5 million in FY2022.
The company capitalized software development expenses of $7.3 million in 2022. Amortization of capitalized software development costs for the year in 2022 was $4.3 million. The majority of the company's clients sign multi-year contracts to use its services. On a dollar-weighted basis, 62% of their clients had multi-year contracts as of January 31, 2022, compared to 60% and 56% of clients as of January 31, 2021, and 2020, respectively.
The company's subscription revenue grew from $183.65 million in the year 2021 to $223.01 million in the fiscal year 2022, the rise in subscription revenue was primarily driven by a net increase of $13.5 million from existing customers and a $25.9 million increase in new customers. Increased subscription income and economies of scale resulted in an improvement in the subscription gross margin. Additionally, ongoing proactive management and optimization of their third-party hosting services reduced costs.
Domo, Inc. designs, develops, and markets executive management software solutions. It offers customized software tools for business operations, customer relationship management, human resources, and financial reporting. It operates a cloud-based business intelligence platform in the United States, Japan, and internationally. Its platform provides access to real-time data and insights as well as the ability to run company from smartphones, connecting people, data, and systems in an organization digitally from the chief executive officer to the frontline employee. The company interacts with several databases, spreadsheets, social networking platforms, and other cloud-based or on-premises software applications.
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
Japan
Japan
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer