Company: DOMO
Filing Date: 2025-04-04
Form Type: 10-K
Source: 0001505952-25-000045
Chunk: 112

Company: DOMO, INC.
Filing Date: 2025-04-04
Form: 10-K
Item: Item 7
Chunk 112
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 costs, as a percentage of revenue, are significantly less than those initially incurred to acquire the customer. As a result, the profitability of a customer to our business in any particular period depends in part upon how long a customer has been a subscriber and the degree to which it has expanded its usage of our platform.

65

From inception through January 31, 2025, we have invested $920.0 million in the development of our platform. As of January 31, 2025, we had 275 employees in our research and development organization. While we expect to continue to invest in research and development, we anticipate that these investments as a percentage of revenue will likely remain consistent over time.

For the years ended January 31, 2023, 2024 and 2025, we had total revenue of $308.6 million, $319.0 million and $317.0 million, respectively, representing year-over-year growth of 3% and decline of 1% for the years ended January 31, 2024 and 2025, respectively. Our enterprise customers generated revenue of $160.7 million, $155.8 million, and $145.0 million for the years ended January 31, 2023, 2024 and 2025, respectively, or year-over-year decline of 3% and 7%, respectively. Our corporate customers generated revenue of $147.9 million, $163.2 million, and $172.0 million for the years ended January 31, 2023, 2024 and 2025, respectively, or year-over-year growth of 10% and 5%, respectively.

For the years ended January 31, 2023, 2024 and 2025, no single customer accounted for more than 10% of our total revenue, nor did any single organization when accounting for multiple subsidiaries or divisions which may have been invoiced separately. Revenue from customers with billing addresses in the United States comprised 78%, 79% and 80% of our total revenue for the years ended January 31, 2023, 2024 and 2025, respectively. 

As a result of the effects of the macroeconomic environment, which has elongated the software sales cycle, increased deal scrutiny, and made renewal discussions more challenging, our revenue growth may be negatively impacted in the near term. In response to these dynamics, we have taken and intend to continue to take steps to better