Domo
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Domo was a cloud-based business intelligence and data platform company founded in American Fork, Utah, in 2010 by Josh James. Its platform combined data integration, analytics, visualization, and AI tooling in a single governed environment, sold to enterprises on a subscription basis. The company went public on Nasdaq (ticker DOMO) in 2018.
02 / Domo FAILURE REASONS
Failure reasons
Domo never achieved profitability: for its fiscal year ended January 31, 2024, it reported essentially flat revenue of $319.0 million and a net loss of $75.6 million, with an accumulated deficit of about $1.41 billion. Growth stalled amid intense competition in the cloud analytics market, and the company cut costs repeatedly, including a workforce reduction of roughly 7 percent announced in 2023, while continuing to report operating losses.
03 / EVENT HISTORY
Events in the structured record
- Founded
Domo was founded in American Fork, Utah, by Josh James, the founder of Omniture.
- IPO
Domo went public on the Nasdaq Global Market under the ticker DOMO.
- Cost cuts
Management announced a workforce reduction of about 7 percent plus cuts to contractors, marketing programs, and other expenses to operate more efficiently amid ongoing losses.
- Flat revenue, continued losses
For the fiscal year ended January 31, 2024, Domo reported revenue of $319.0 million (down 1 percent) and a net loss of $75.6 million, with an accumulated deficit of about $1.41 billion.
- Asset sale and rename
The company completed the sale of substantially all assets of its AI and data platform business to Progress Software for $400 million, renamed itself Huckleberry.ai Inc., and began trading under the ticker HUCK.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
For the fiscal year ended January 31, 2024, the company reported a net loss of $75.6 million on revenue of $319.0 million, with an accumulated deficit of about $1.41 billion.
- 02
The company was not wound down in 2024; it continued to operate as a public company while cutting costs.
- 03
In 2026 it sold substantially all assets of its AI and data platform business to Progress Software for $400 million and renamed itself Huckleberry.ai Inc., emerging with a debt-free balance sheet and about $221 million in cash.