Wrapping up Q3 earnings, we look at the numbers and key takeaways for the data analytics stocks, including Domo (NASDAQ: DOMO) and its peers.
Organizations generate a lot of data that is stored in silos, often in incompatible formats, making it slow and costly to extract actionable insights, which in turn drives demand for modern cloud-based data analysis platforms that can efficiently analyze the siloed data.
The 5 data analytics stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.2% while next quarter’s revenue guidance was in line.
Luckily, data analytics stocks have performed well with share prices up 11.8% on average since the latest earnings results.
Domo (NASDAQ: DOMO)
Founded by Josh James after selling his former business Omniture to Adobe, Domo (NASDAQ: DOMO) provides business intelligence software that allows managers to access and visualize critical business metrics in real-time, using their smartphones.
Domo reported revenues of $79.76 million, flat year on year. This print exceeded analysts’ expectations by 3%. Overall, it was a strong quarter for the company with EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates.
“Our focus on ecosystem-led growth, consumption-based contracts and AI innovation is paying off with promising momentum, as we see more demand for Domo as an anchor technology in customers’ data stacks,” said Josh James, founder and CEO, Domo.
Domo delivered the slowest revenue growth of the whole group. The stock is down 10.9% since reporting and currently trades at $8.70.
Is now the time to buy Domo? Access our full analysis of the earnings results here, it’s free.
Best Q3: Samsara (NYSE: IOT)
One of the few public companies where Marc Andreessen is a Board member, Samsara (NYSE: IOT) provides software and hardware to track industrial equipment, assets, and fleets.
Samsara reported revenues of $322 million, up 35.6% year on year, outperforming analysts’ expectations by 3.7%. The business had a very strong quarter with EPS guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EBITDA estimates.
Samsara delivered the biggest analyst estimates beat and fastest revenue growth among its peers. The company added 170 enterprise customers paying more than $100,000 annually to reach a total of 2,303. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 5.6% since reporting. It currently trades at $52.11.
Is now the time to buy Samsara? Access our full analysis of the earnings results here, it’s free.
Palantir (NASDAQ: PLTR)
Started by Peter Thiel after seeing US defence agencies struggle in the aftermath of the 2001 terrorist attacks, Palantir (NYSE: PLTR) offers software as a service platform that helps government agencies and large enterprises use data to make better decisions.
Palantir reported revenues of $725.5 million, up 30% year on year, exceeding analysts’ expectations by 2.9%. Still, it was a mixed quarter as it posted a significant miss of analysts’ billings estimates.
Interestingly, the stock is up 95.7% since the results and currently trades at $81.10.
Read our full analysis of Palantir’s results here.
Health Catalyst (NASDAQ: HCAT)
Founded by healthcare professionals Tom Burton and Steve Barlow in 2008, Health Catalyst (NASDAQ: HCAT) provides data and analytics technology to healthcare organizations, enabling them to improve care and lower costs.
Health Catalyst reported revenues of $76.35 million, up 3.5% year on year. This number met analysts’ expectations. Overall, it was a very strong quarter as it also recorded EBITDA guidance for next quarter exceeding analysts’ expectations.
Health Catalyst had the weakest performance against analyst estimates and weakest full-year guidance update among its peers. The stock is down 32.6% since reporting and currently trades at $5.55.
Read our full, actionable report on Health Catalyst here, it’s free.
Amplitude (NASDAQ: AMPL)
Born out of a failed voice recognition startup by founder Spenser Skates, Amplitude (NASDAQ: AMPL) is data analytics software helping companies improve and optimize their digital products.
Amplitude reported revenues of $75.22 million, up 6.5% year on year. This print surpassed analysts’ expectations by 1.5%. Taking a step back, it was a mixed quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but a significant miss of analysts’ billings estimates.
The company added 20 enterprise customers paying more than $100,000 annually to reach a total of 567. The stock is up 12.6% since reporting and currently trades at $11.82.
Read our full, actionable report on Amplitude here, it’s free.
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