Domo, the Utah-based business analytics company, today became the newest enterprise technology company to go public with a small pop. The company, which traded on the Nasdaq as DOMO, opened at $ 23.80 a share, an increase of 13 percent over its original price of $ 21. Last night, the company announced it had raised $ 193 million through the sale of 9,200,000 Class B ordinary shares at initial price, valuing the company at around $ 511 million.
The stock is now trading at around $ 25.60. We will update that during the day.
It's a modestly positive start for a company that has taken a stony path before going public: as a startup, the company was valued at up to $ 2 billion, meaning its initial public offering. In the valuation, about 75 percent of that value was erased ,
Domo always had high expectations which was five years in stealth mode and came out with a rating of $ 1
And Domo itself picks up on a recurring theme in the IT zeitgeist: there are now hundreds of cloud-based services that collect and produce data about our companies, and so there is a need for companies that can harness and leverage this data, to make them easier to read (companies) like Slack takes up this idea, albeit for a different purpose.
Domo himself says that it brings in information from about 500 different sources about APIs and other integrations to generate data visualizations and other insights about it. An organization works, and while one of its main goals is C-level executives, the "Big Picture." "Insights, the product positions itself as suitable for a wide range of users and industries.  But as many have said, that's not the whole story. The company has been burning money and its annual recurring revenue has not been so strong compared to revenue (before the IPO nearly $ 690 million). For the strongest company startups, these are metrics that tend to be closer to parity if ARR does not exceed the company's level. For skeptics, Domo has to prove itself longer than a business, and now that money is in the public markets, it will do so with closer scrutiny.
According to his S-1 filing, Domo's revenue in The Year ended Jan. 31 was $ 108.5 million, compared to $ 74.5 million, with net losses of $ 176.6 million Dollar (compared to 183 million US dollars in the same period last year). The Company states that as of April 30, 2018, it had more than 1,500 businesses as customers, including 385 with sales in excess of $ 1 billion. The company makes about 80 percent of its revenue from subscriptions, the rest from professional services.