Domo is transitioning from a distressed SaaS operator into a speculative, debt-free cash-and-NOL shell trading below its projected $4.84 per-share cash value.
Overview
Domo is no longer primarily a cloud BI, analytics, or AI investment. Historically, it operated a SaaS platform integrating legacy and cloud data, with approximately 90% subscription revenue, more than 2,000 corporate accounts, and products spanning Magic ETL, embedded analytics, Domo.AI, and Agent Catalyst. However, revenue stagnated at $318.9 million in FY2026 versus $317.0 million in FY2025, while the company remained loss-making and breached its recurring-revenue debt covenant. **The July 22, 2026 agreement to sell substantially all assets to Progress Software for $400 million is the central catalyst.** Closing, expected by the end of September and no later than November 30, 2026, should repay the $138.3 million term loan and create a debt-free shell with approximately $246 million of net cash, or $4.84 per share. At $3.68, shares trade at a 24% discount to that projected cash value, while the market assigns little value to more than $900 million of NOLs. The investment is therefore an event-driven cash-and-tax-asset option, with upside dependent on disciplined acquisitions.