Domo (DOMO) Q2 2027 earnings summary

Executive summary

• Entered into an Asset Purchase Agreement to sell substantially all assets and employees for $400 million in cash, excluding NOL carryforwards, to Progress Software Corporation; closing expected by November 30, 2026.

• Following the sale, will repay all outstanding debt, change corporate name, and remain a public entity focused on monetizing NOLs and exploring new business opportunities.

• Board intends to use proceeds to identify opportunities leveraging AI and automation or return capital to shareholders.

Financial highlights

• Total revenue for Q2 2026 was $76.8 million, down 4% year-over-year; six-month revenue was $156.2 million, down 2%.

• Net loss for Q2 2026 was $9.6 million, improved from $22.9 million in Q2 2025; six-month net loss was $23.8 million, improved from $41.0 million.

• Gross margin for Q2 2026 was 77%, up from 75% in Q2 2025.

• Cash and cash equivalents as of July 31, 2026 were $25.1 million.

• Billings for Q2 2026 were $61.0 million, down from $70.3 million in Q2 2025.

Outlook and guidance

• Asset Sale expected to close by November 30, 2026; proceeds to be used for debt repayment and strategic initiatives.

• Company will have no operating business post-sale and will focus on monetizing NOLs and exploring new ventures.

• Management acknowledges substantial doubt about ability to continue as a going concern if the Asset Sale does not close.