What happened Shares of Domo (NASDAQ: DOMO) have soared today, up by 15% as of 12:48 p.m. EST, after the business analytics specialist reported third-quarter earnings. The company beat expectations for both top- and bottom-line results. So what Revenue in the third quarter increased 22% to $44.8 million, of which $37.8 million was subscription revenue. Billings came in at $44.4 million, and Domo reported an adjusted net loss of $23.6 million, or $0.85 per share. Analysts had been modeling for $41.8 million in sales and an adjusted loss of $1.02 per share. The company burned through $19.5 million in negative operating cash flow, and finished the quarter with $115.9 million in cash on the balance sheet. Image source: Getty Images. "I am very pleased with our 24% subscription revenue growth and our execution in Q3, closing several of the largest deals in company history," CEO Josh James said in a statement. "We provide a differentiated solution that helps customers quickly, easily and securely put data to work at scale." Now what The chief executive added that Domo is making progress in reducing its cash burn. The tech company is focused on becoming cash flow positive. Guidance also came in above Wall Street's forecasts. Revenue in the fourth quarter is expected to be in the range of $45 million to $46 million, which should translate into an adjusted net loss of $0.94 to $0.98 per share. Consensus estimates currently call for $43.9 million in revenue and an adjusted net loss of $0.98 per share. That should bring full-year revenue to $172.2 million to $173.2 million, with an adjusted net loss of $3.88 to $3.92 per share. 10 stocks we like better than Domo, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Domo, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source