On July 22, 2026, Domo, Inc. entered into an Asset Purchase Agreement with Progress Software Corporation to sell substantially all of its assets and employees, excluding net operating loss (NOL) carryforwards, for approximately $400 million in cash. The transaction, approved by the board and majority stockholders, is expected to close by November 30, 2026. Domo will remain a publicly listed entity under a new name and ticker, retaining over $900 million in NOLs and approximately $246 million in net cash ($4.84 per share) after paying off its credit facility. To protect these tax attributes, Domo adopted a Tax Benefits Preservation Plan. The company intends to use the proceeds to monetize NOLs or return capital to shareholders. Domo operates in the software industry, providing an AI and data products platform for business intelligence and analytics.
