Company: DOMO
Filing Date: 2025-04-04
Form Type: 10-K
Source: 0001505952-25-000045
Chunk: 159

Company: DOMO, INC.
Filing Date: 2025-04-04
Form: 10-K
Item: Item 8
Chunk 159
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ed payroll taxes2,4752,082Sales and other taxes payable1,3391,798Employee stock purchase plan liability1,8261,276Other accrued liabilities4,2313,691$43,430$60,909Short-term Payable Financing

In July 2024, the Company entered into a short-term payable financing agreement pursuant to which the counterparty assumes responsibility for payables for approximately 30-60 days to designated suppliers at the discretion of the Company. 

8. Leases

The Company leases office space under non-cancelable operating leases with various expiration dates through 2027. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Components of lease expense are summarized as follows (in thousands):Year Ended January 31,202320242025Operating lease expense$7,042 $6,131 $5,999 Short-term lease expense1,274 1,522 1,177 Total lease expense$8,316$7,653$7,176

100

Domo, Inc.Notes to Consolidated Financial Statements (Continued)8. Leases (Continued)

Lease term and discount rate information are summarized as follows:As of January 31, 2025Weighted average remaining lease term (years)2.2Weighted average discount rate11.1%Maturities of lease liabilities as of January 31, 2025 were as follows (in thousands):Year Ending January 31:2026$6,686 20276,367 20281,833 Total lease payments14,886Less imputed interest(1,460)Present value of lease liabilities$13,426 Cash paid for operating leases was $6.5 million, $7.1 million and $7.2 million during the years ended January 31, 2023, 2024 and 2025, respectively, and was included in net cash used in operating activities in the consolidated statements of cash flows.The Company has entered into sublease agreements with various expiration dates through 2027. Under these agreements, the Company expects to receive sublease income of approximately $3.0 million as of January 31, 2025. Sublease income was $0.4 million, $1.8 million and $0.9 million for the years ended January 31, 2023, 2024 and 2025, respectively.In September 2024, the Company entered into an agreement