# DOMO, INC. (DOMO)

Informational only - not investment advice.

CIK: 0001505952
SIC: 7372 Services-Prepackaged Software
SIC breadcrumb: [Services](/division/I/) > [Business Services](/major-group/73/) > [SIC 7372 Services-Prepackaged Software](/industry/7372/)
Latest 10-K filed: 2026-04-16
SEC page: https://www.sec.gov/edgar/browse/?CIK=1505952
Filing source: https://www.sec.gov/Archives/edgar/data/1505952/000162828026025356/domo-20260131.htm

## At a glance

FY2026 · period end 2026-01-31 · filed 2026-04-16 · accession 0001628280-26-025356 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001505952.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 318,857,000 USD | 2026 | verified |
| Net income | -59,342,000 USD | 2026 | verified |
| Assets | 235,533,000 USD | 2026 | verified |
| Free cash flow | -2,020,000 USD | 2026 | computed |
| Net margin | -18.61% | 2026 | computed |
| Operating margin | -12.26% | 2026 | computed |
| Revenue YoY | +0.57% | 2026 | computed |

Stockholders' equity was not positive at FY2026 year-end (-186,064,000 USD, as filed); ROE and liabilities / equity are omitted rather than computed.

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2026 revenue ÷ FY2025 revenue − 1 (consecutive fiscal years only).

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | DOMO | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | -18.6% | 1.5% | 17 | 122 |
| Operating margin | -12.3% | 1.3% | 22 | 121 |
| Revenue growth | 0.6% | 13.5% | 14 | 124 |
| FCF margin | -0.6% | 19.3% | 11 | 120 |
| ROA | -25.2% | 0.9% | 5 | 124 |
| Current ratio | 0.57 | 1.57 | 3 | 124 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 7372 Services-Prepackaged Software, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 318857000 | USD | 2026 | 2026-04-16 |
| Net income | -59342000 | USD | 2026 | 2026-04-16 |
| Assets | 235533000 | USD | 2026 | 2026-04-16 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-04-16. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001505952.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 74,540,000 | 108,524,000 | 142,464,000 | 173,395,000 | 210,180,000 | 257,961,000 | 308,645,000 | 318,989,000 | 317,044,000 | 318,857,000 |
| Net income | -183,120,000 | -176,562,000 | -154,309,000 | -125,656,000 | -84,634,000 | -102,111,000 | -105,551,000 | -75,569,000 | -81,935,000 | -59,342,000 |
| Operating income | -182,860,000 | -175,781,000 | -144,087,000 | -115,267,000 | -73,085,000 | -88,470,000 | -88,873,000 | -54,881,000 | -59,282,000 | -39,097,000 |
| Gross profit | 41,345,000 | 63,605,000 | 92,910,000 | 117,465,000 | 153,432,000 | 190,815,000 | 235,567,000 | 243,519,000 | 236,051,000 | 239,122,000 |
| Diluted EPS |  |  |  | -4.57 | -2.89 | -3.19 | -3.10 | -2.10 | -2.13 | -1.45 |
| Operating cash flow | -144,144,000 | -148,657,000 | -131,367,000 | -80,219,000 | -15,872,000 | 379,000 | -10,890,000 | 2,583,000 | -9,052,000 | 7,934,000 |
| Capital expenditures | 11,644,000 | 7,281,000 | 6,373,000 | 6,466,000 | 5,706,000 | 6,517,000 | 7,996,000 | 11,734,000 | 9,445,000 | 9,954,000 |
| Assets |  | 155,355,000 | 292,632,000 | 216,738,000 | 216,438,000 | 244,589,000 | 242,116,000 | 225,660,000 | 214,340,000 | 235,533,000 |
| Liabilities |  | 184,161,000 | 248,105,000 | 265,918,000 | 299,897,000 | 370,567,000 | 388,516,000 | 379,206,000 | 391,586,000 | 421,597,000 |
| Stockholders' equity | -556,196,000 | -721,964,000 | 44,527,000 | -49,180,000 | -83,459,000 | -125,978,000 | -146,400,000 | -153,546,000 | -177,246,000 | -186,064,000 |
| Cash and cash equivalents | 68,984,000 | 61,972,000 | 176,973,000 | 80,843,000 | 90,794,000 | 83,561,000 | 66,500,000 | 60,939,000 | 45,264,000 | 42,951,000 |
| Free cash flow | -155,788,000 | -155,938,000 | -137,740,000 | -86,685,000 | -21,578,000 | -6,138,000 | -18,886,000 | -9,151,000 | -18,497,000 | -2,020,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin |  |  | -108.31% | -72.47% | -40.27% | -39.58% | -34.20% | -23.69% | -25.84% | -18.61% |
| Operating margin |  |  | -101.14% | -66.48% | -34.77% | -34.30% | -28.79% | -17.20% | -18.70% | -12.26% |
| Return on assets |  | -113.65% | -52.73% | -57.98% | -39.10% | -41.75% | -43.60% | -33.49% | -38.23% | -25.19% |
| Current ratio |  | 0.88 | 1.77 | 1.12 | 0.89 | 0.73 | 0.68 | 0.65 | 0.56 | 0.57 |

## As-reported value updates

No tracked differences above grepcent's stated thresholds and capped precision rule were found between the earliest XBRL-filed value and the value currently on file for the standardized annual metrics grepcent tracks.


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-06-15. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001505952.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2023-Q2 | 2022-07-31 |  |  | -0.86 | reported discrete quarter |
| 2023-Q3 | 2022-10-31 |  |  | -0.69 | reported discrete quarter |
| 2024-Q1 | 2023-04-30 |  |  | -0.69 | reported discrete quarter |
| 2024-Q2 | 2023-04-30 |  | -24,403,000 |  | reported discrete quarter |
| 2024-Q2 | 2023-07-31 | 79,672,000 |  | -0.45 | reported discrete quarter |
| 2024-Q3 | 2023-07-31 |  | -16,068,000 |  | reported discrete quarter |
| 2024-Q3 | 2023-10-31 | 79,675,000 |  | -0.45 | reported discrete quarter |
| 2024-Q4 | 2024-01-31 | 80,184,000 | -18,685,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2024-04-30 | 80,103,000 | -26,007,000 | -0.69 | reported discrete quarter |
| 2025-Q2 | 2024-04-30 |  | -26,007,000 |  | reported discrete quarter |
| 2025-Q2 | 2024-07-31 | 78,407,000 |  | -0.51 | reported discrete quarter |
| 2025-Q3 | 2024-07-31 |  | -19,490,000 |  | reported discrete quarter |
| 2025-Q3 | 2024-10-31 | 79,764,000 |  | -0.48 | reported discrete quarter |
| 2025-Q4 | 2025-01-31 | 78,770,000 | -17,677,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2025-04-30 | 80,111,000 | -18,052,000 | -0.45 | reported discrete quarter |
| 2026-Q2 | 2025-04-30 |  | -18,052,000 |  | reported discrete quarter |
| 2026-Q2 | 2025-07-31 | 79,718,000 |  | -0.56 | reported discrete quarter |
| 2026-Q3 | 2025-07-31 |  | -22,932,000 |  | reported discrete quarter |
| 2026-Q3 | 2025-10-31 | 79,403,000 |  | -0.25 | reported discrete quarter |
| 2026-Q4 | 2026-01-31 | 79,625,000 | -7,970,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2027-Q1 | 2026-04-30 | 79,403,000 | -14,170,000 | -0.33 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from DOMO's latest 10-K: [/company/DOMO/business/](/company/DOMO/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from DOMO's latest 10-K: [/company/DOMO/risk-factors/](/company/DOMO/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1505952/000162828026043173/domo10q-20260430.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-06-15
Report date: 2026-04-30

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This discussion contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements containing words such as “may,” “believe,” “could,” "will,” “seek,” “depends,” “anticipate,” “expect,” “intend,” “plan,” “project,” “projections,” “business outlook,” “estimate,” or similar expressions constitute forward-looking statements. You should read these statements carefully because they discuss future expectations, contain projections of future results of operations or financial condition or state other “forward-looking” information. These statements relate to our future plans, objectives, expectations, intentions and financial performance and the assumptions that underlie these statements. They include, but are not limited to, statements about:

•our ability to attract new customers and retain and expand our relationships with existing customers;

•our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit, operating expenses, key metrics, ability to generate cash flow and ability to achieve and maintain future profitability;

•the potential impact on our business transitioning to a consumption-based pricing model;

•the anticipated trends, market opportunity, growth rates and challenges in our business and in the business intelligence software market;

•the efficacy of our sales and marketing efforts;

•our ability to compete successfully in competitive markets;

•our ability to respond to and capitalize on rapid technological changes;

•our expectations and management of future growth;

•our ability to enter new markets and manage our expansion efforts, particularly internationally;

•our ability to develop new product features;

•our ability to attract and retain key employees and qualified technical and sales personnel;

•our ability to effectively and efficiently protect our brand;

•our ability to timely scale and adapt our infrastructure;

•the effect of general economic and market conditions, including changes in regulations and customs, tariffs and trade barriers, on our business and on our customers;

•our ability to protect our customers' data and proprietary information;

•our ability to maintain, protect, and enhance our intellectual property and not infringe upon others’ intellectual property; and

•our ability to comply with all governmental laws, regulations and other legal obligations.

Our actual results may differ materially from those contained in or implied by any forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this report, including those factors discussed in Part II, Item 1A (Risk Factors).

In light of the significant uncertainties and risks inherent in these forward-looking statements, you should not regard these statements as a representation or warranty by us or anyone else that we will achieve our objectives or plans in any specified time frame, or at all, or as predictions of future events. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

26

Overview

We founded Domo in 2010 with the vision of digitally connecting everyone within the enterprise with real-time, rich, relevant data and then enabling all employees to collaborate and act on that data. We realized that many organizations were unable to access the massive amounts of data that they were collecting in siloed cloud applications and on-premise databases. Furthermore, even for organizations that were capable of accessing their data, the process for doing so was time-consuming, costly, and often resulted in the data being out-of-date by the time it reached decision makers. The delivery format, including alert functionality, and devices were not adequate for the connected and real-time mobile workforce. Based on these observations, it was apparent that all organizations, regardless of size or industry, were failing to unlock the power of all of their people, data, and systems. To address these challenges, we provide a modern cloud-based AI and data products platform that digitally connects everyone at an organization – from the CEO to frontline employees – with all the people, data and systems in an organization, giving them access to real-time data and insights and allowing them to build data products that generate measurable value for the business.

 Business leaders, department heads and managers are typically initial subscribers to our platform, deploying Domo to solve a business problem or enable departmental access. Over time, as customers recognize the value of our platform, we engage with CIOs and other executives to facilitate broader adoption.

We primarily offer our platform, which customers can adopt in whole or in part, as a consumption-based service, which includes consumption-based agreements and enterprise-wide agreements (ELAs) with unlimited users and a data cap. Customers with consumption-based agreements have an annual purchase commitment based on estimated usage, utilizing a tiered pricing structure, which is paid upfront. Historically, we also offered subscription-based agreements, under which subscription fees are based upon the chosen Domo package which includes tier-based platform capabilities or usage. As of the end of our most recent fiscal quarter, 89% of our annual recurring revenue (ARR) was utilizing the platform as a consumption-based service, and we expect this percentage to increase in future periods.

As of April 30, 2026, 76% of our customers were under multi-year contracts on a dollar-weighted basis, consistent with 76% of customers as of January 31, 2026. The high percentage revenue from multi-year contracts, among both new and existing customers, has enhanced the predictability of our subscription revenue, which includes both subscription-based and consumption-based agreements. We typically invoice our customers annually in advance for subscriptions to our platform.

Remaining performance obligations (RPO) represents the remaining amount of revenue we expect to recognize from existing non-cancelable contracts, whether billed or unbilled. As of April 30, 2025 and 2026, total RPO was $427.5 million and $437.3 million, respectively. The amount of RPO expected to be recognized as revenue in the next twelve months was $241.0 million and $239.6 million as of April 30, 2025 and 2026, respectively.

We had total revenue of $80.1 million and $79.4 million for the three months ended April 30, 2025 and 2026, respectively. For the three months ended April 30, 2025 and 2026, no single customer accounted for more than 10% of our total revenue, nor did any single organization when accounting for multiple subsidiaries or divisions which may have been invoiced separately. Revenue from customers with billing addresses in the United States comprised 80% and 79% of our total revenue for the three months ended April 30, 2025 and 2026, respectively.

We have incurred significant net losses since our inception, including net losses of $18.1 million and $14.2 million for the three months ended April 30, 2025 and 2026, respectively, and had an accumulated deficit of $1,561.1 million at April 30, 2026. We expect to incur losses for the foreseeable future and may not be able to achieve or sustain profitability.

Impact of Macroeconomic Conditions

Prevailing macroeconomic conditions have elongated the software sales cycle, increased deal scrutiny and made renewal discussions more challenging. These conditions may continue to impact our business and those of our customers in a manner that we may not be able to quantify or isolate from other drivers of our performance, and may negatively impact our revenue growth in the near term. Ongoing concerns about the health of the U.S. and global economies may cause certain of our current and potential customers to reduce or delay technology spending or seek payment or other concessions from us. These conditions, along with the ongoing uncertainty in the SaaS sector, may materially and negatively impact our operating results, financial condition and prospects. In response to these dynamics, we have taken and intend to continue to take steps to better align our sales team and focus on controlling costs, which we expect will result in improved margins and efficient growth in the long term. However, as described below under "Liquidity and Capital Resources," conditions exist that raise substantial

27

doubt about our ability to continue as a going concern, and there can be no assurance that these steps will result in sustained positive cash flow.

Factors Affecting Performance

Continue to Attract New Customers

We believe that our ability to expand our customer base is an important indicator of market penetration, the growth of our business, and future business opportunities. We define a customer at the end of any particular quarter as an entity that generated revenue greater than $2,500 during that quarter. In situations where an organization has multiple subsidiaries or divisions, each entity that is invoiced at a separate billing address is treated as a separate customer. In cases where customers purchase through a reseller, each end customer is counted separately. We define enterprise customers as companies with over $1 billion in revenue, and companies with less than $1 billion in revenue are corporate customers. In order to maintain comparability, companies who become customers with revenue below $1 billion and subsequently exceed that threshold are considered enterprise customers for all periods presented.

As of April 30, 2026, we had over 2,400 customers. Enterprise customers accounted for 45% and 44% of our revenue for the three months ended April 30, 2025 and 2026, respectively. To drive growth among both our enterprise and corporate customers, we intend to further develop our partner ecosystem by establishing agreements with more software resellers, systems integrators and other partners to provide broader customer and geographic coverage. We believe we are underpenetrated in the overall market and have significant opportunity to expand our customer base over time.

Customer Upsell and Retention

We employ a land, expand, and retain sales model, and our performance depends on our ability to retain customers and expand the use of our platform at existing customers over time. It currently takes multiple years for our customers to fully embrace the power of our platform. We are still in the early stages of expanding within many of our customers. Under consumption-based pricing, our customers have access to all features offered on our platform, which allows for increased discoverability across the entire customer organization. We believe that as customers continue to deploy greater volumes and sources of data for multiple use cases under our consumption-based pricing model, the unique features of our platform can address the needs of everyone within their organization.

Our ability to successfully upsell and the impact of cancellations may vary from period to period. The extent of this variability depends on a number of factors including the size and timing of upsells and cancellations relative to the initial subscriptions.

We have invested in platform capabilities and online support resources that allow our customers to expand the use of our platform in a self-guided manner. Our professional services, customer support and customer success functions also support our sales force by helping customers to successfully deploy

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1505952/000162828026025356/domo-20260131.htm
Complete FY 2026 MD&A: /company/DOMO/mda/fy2026/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-04-16
Report date: 2026-01-31

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This discussion contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements containing words such as “may,” “believe,” “could,” "will,” “seek,” “depends,” “anticipate,” “expect,” “intend,” “plan,” “project,” “projections,” “business outlook,” “estimate,” or similar expressions constitute forward-looking statements. You should read these statements carefully because they discuss future expectations, contain projections of future results of operations or financial condition or state other “forward-looking” information. These statements relate to our future plans, objectives, expectations, intentions and financial performance and the assumptions that underlie these statements. They include, but are not limited to, statements about:

•our ability to attract new customers and retain and expand our relationships with existing customers;

•our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit, operating expenses, key metrics, ability to generate cash flow and ability to achieve and maintain future profitability;

•the potential impact on our business transitioning to a consumption-based pricing model;

•the anticipated trends, market opportunity, growth rates and challenges in our business and in the business intelligence software market;

•the efficacy of our sales and marketing efforts;

•our ability to compete successfully in competitive markets;

•our ability to respond to and capitalize on rapid technological changes;

•our expectations and management of future growth;

•our ability to enter new markets and manage our expansion efforts, particularly internationally;

•our ability to develop new product features;

•our ability to attract and retain key employees and qualified technical and sales personnel;

•our ability to effectively and efficiently protect our brand;

•our ability to timely scale and adapt our infrastructure;

•the effect of general economic and market conditions, including changes in regulations and customs, tariffs and trade barriers, on our business and on our customers;

•our ability to protect our customers' data and proprietary information;

•our ability to maintain, protect, and enhance our intellectual property and not infringe upon others’ intellectual property; and

•our ability to comply with all governmental laws, regulations and other legal obligations.

Our actual results may differ materially from those contained in or implied by any forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this report, including those factors discussed in Part I, Item 1A (Risk Factors).

In light of the significant uncertainties and risks inherent in these forward-looking statements, you should not regard these statements as a representation or warranty by us or anyone else that we will achieve our objectives or plans in any specified time frame, or at all, or as predictions of future events. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to publicly

55

update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

You should read the following discussion and analysis of our financial condition and results of operations together with the consolidated financial statements and related notes that are included elsewhere in this Annual Report on Form 10-K. Our fiscal year ends on January 31. References to fiscal 2026, for example, refer to the fiscal year ended January 31, 2026.

Overview

We founded Domo in 2010 with the vision of digitally connecting everyone within the enterprise with real-time, rich, relevant data and then enabling all employees to collaborate and act on that data. We realized that many organizations were unable to access the massive amounts of data that they were collecting in siloed cloud applications and on-premise databases. Furthermore, even for organizations that were capable of accessing their data, the process for doing so was time-consuming, costly, and often resulted in the data being out-of-date by the time it reached decision makers. The delivery format, including alert functionality, and devices were not adequate for the connected and real-time mobile workforce. Based on these observations, it was apparent that all organizations, regardless of size or industry, were failing to unlock the power of all of their people, data, and systems. To address these challenges, we provide a modern cloud-based AI and data products platform that digitally connects everyone at an organization – from the CEO to frontline employees – with all the people, data and systems in an organization, giving them access to real-time data and insights and allowing them to build data products that generate measurable value for the business.

 Business leaders, department heads and managers are typically initial subscribers to our platform, deploying Domo to solve a business problem or enable departmental access. Over time, as customers recognize the value of our platform, we engage with CIOs and other executives to facilitate broader adoption.

We primarily offer our platform, which customers can adopt in whole or in part, as a consumption-based service, which includes consumption-based agreements and enterprise-wide agreements (ELAs) with unlimited users and a data cap. Customers with consumption-based agreements have an annual purchase commitment based on estimated usage, utilizing a tiered pricing structure, which is paid upfront. Historically, we also offered subscription-based agreements, under which subscription fees are based upon the chosen Domo package which includes tier-based platform capabilities or usage. As of the end of our most recent fiscal quarter, 84% of our annual recurring revenue (ARR) was utilizing the platform as a consumption-based service, and we expect this percentage to increase in future periods.

As of January 31, 2026, 76% of our customers were under multi-year contracts on a dollar-weighted basis compared to 66% and 69% of customers as of January 31, 2024 and 2025, respectively. The high percentage revenue from multi-year contracts, among both new and existing customers, has enhanced the predictability of our subscription revenue, which includes both subscription-based and consumption-based agreements. We typically invoice our customers annually in advance for subscriptions to our platform.

Remaining performance obligations (RPO) represents the remaining amount of revenue we expect to recognize from existing non-cancelable contracts, whether billed or unbilled. As of January 31, 2025 and 2026, total RPO was $423.8 million and $464.8 million, respectively. The amount of RPO expected to be recognized as revenue in the next twelve months was $242.2 million and $246.3 million as of January 31, 2025 and 2026, respectively.

Our business model focuses on obtaining new customers and maximizing the lifetime value of those customer relationships. We recognize subscription revenue ratably over the term of the contract. In general, customer acquisition costs and other upfront costs associated with new customers are higher in the first year than the aggregate revenue we recognize from those new customers in the first year. Certain contract acquisitions costs are capitalized and then amortized over a period of four years for initial contracts. Over the lifetime of the customer relationship, we also incur sales and marketing costs to renew or increase usage per customer. However, these costs, as a percentage of revenue, are significantly less than those initially incurred to acquire the customer. As a result, the profitability of a customer to our business in any particular period depends in part upon how long a customer has been a subscriber and the degree to which it has expanded its usage of our platform.

From inception through January 31, 2026, we have invested $1,006.4 million in the development of our platform. As of January 31, 2026, we had 263 employees in our research and development organization. While we expect to continue to

56

invest in research and development, we anticipate that these investments as a percentage of revenue will likely remain consistent over time.

For the years ended January 31, 2024, 2025 and 2026, we had total revenue of $319.0 million, $317.0 million and $318.9 million, respectively, representing year-over-year decline of 1% and growth of 1% for the years ended January 31, 2025 and 2026, respectively. Our enterprise customers generated revenue of $155.8 million, $145.0 million, and $140.8 million for the years ended January 31, 2024, 2025 and 2026, respectively, or year-over-year decline of 7% and 3%, respectively. Our corporate customers generated revenue of $163.2 million, $172.0 million, and $178.1 million for the years ended January 31, 2024, 2025 and 2026, respectively, or year-over-year growth of 5% and 3%, respectively.

For the years ended January 31, 2024, 2025 and 2026, no single customer accounted for more than 10% of our total revenue, nor did any single organization when accounting for multiple subsidiaries or divisions which may have been invoiced separately. Revenue from customers with billing addresses in the United States comprised 79%, 80% and 80% of our total revenue for the years ended January 31, 2024, 2025 and 2026, respectively.

We have incurred significant net losses since our inception, including net losses of $75.6 million, $81.9 million and $59.3 million for the years ended January 31, 2024, 2025 and 2026, respectively, and had an accumulated deficit of $1,546.9 million at January 31, 2026. We expect to incur losses for the foreseeable future and may not be able to achieve or sustain profitability.

Impact of Macroeconomic Conditions

Prevailing macroeconomic conditions have elongated the software sales cycle, increased deal scrutiny and made renewal discussions more challenging. These conditions may continue to impact our business and those of our customers in a manner that we may not be able to quantify or isolate from other drivers of our performance, and may negatively impact our revenue growth in the near term. Ongoing concerns about the health of the U.S. and global economies may cause certain of our current and potential customers to reduce or delay technology spending or seek payment or other concessions from us. These conditions, along with the ongoing uncertainty in the SaaS sector, may materially and negatively impact our operating results, financial condition and prospects. In response to these dynamics, we have taken and intend to continue to take steps to better align our sales team and focus on controlling costs, which we expect will result in improved margins, sustained positive cash flow and efficient growth in the long term.

Factors Affecting Performance

Continue to Attract New Customers

We believe that our ability to expand our customer base is an important indicator of market penetration, the growth of our business, and future business opportunities. We define a customer at the end of any particular quarter as an entity that generated revenue greater than $2,500 during that quarter. In situations where an organization has multiple subsidiaries or divisions, each entity that is invoiced at a separate billing address is treated as a separate customer. In cases where customers purchase through a reseller, each end customer is counted separately. We define enterprise customers as companies with over $1 billion in revenue, and companies with less than $1 billion in revenue are corporate customers. In order t

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2026 MD&A: /company/DOMO/mda/fy2026/
All MD&A years: /company/DOMO/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2025 MD&A](/company/DOMO/mda/fy2025/): filed 2025-04-04; accession 0001505952-25-000045 (https://www.sec.gov/Archives/edgar/data/1505952/000150595225000045/domo-20250131.htm)
- [FY 2024 MD&A](/company/DOMO/mda/fy2024/): filed 2024-03-28; accession 0001505952-24-000015 (https://www.sec.gov/Archives/edgar/data/1505952/000150595224000015/domo-20240131.htm)
- [FY 2023 MD&A](/company/DOMO/mda/fy2023/): filed 2023-03-27; accession 0001505952-23-000021 (https://www.sec.gov/Archives/edgar/data/1505952/000150595223000021/domo-20230131.htm)
- [FY 2022 MD&A](/company/DOMO/mda/fy2022/): filed 2022-03-23; accession 0001505952-22-000012 (https://www.sec.gov/Archives/edgar/data/1505952/000150595222000012/domo-20220131.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 7372 Services-Prepackaged Software) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm
- [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity

Macro-to-micro threads including this sector: [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/DOMO.md · JSON record: /company/DOMO.json · verified financials: /company/DOMO/financials.json / /company/DOMO/financials.csv · machine TOC for the whole site: /llms.txt