Domo, Inc. has announced the completion of its previously announced sale to Progress Software Corporation (Nasdaq: PRGS). With the transaction complete, Domo, Inc. has changed its name to Huckleberry.ai, Inc. (the "Company" or "Huckleberry"). Josh James will continue to lead the Company alongside its current Board of Directors.
Domo completes its sale to Progress Software Corporation.
Domo, Inc. changes its name to Huckleberry.ai, Inc.
Josh James will continue to lead the Company alongside its current Board of Directors.
Huckleberry starts with approximately $221 million in cash.
The Company retains more than $900 million in net operating loss carryforwards.
Effective September 24, 2026, Huckleberry will trade on Nasdaq under the symbol "HUCK."
Through the transaction, Progress acquired substantially all of the Company's assets and employees, excluding the Company's net operating loss carryforwards, and assumed certain of its liabilities. The Company's AI and data platform have become part of Progress.
"Domo was built on the belief that data should change the way a business runs," said Josh James, Founder and CEO. "I'm incredibly proud of what our team created and grateful to the customers who pushed us to keep making it better. That work will continue at Progress."
"Today, the Huckleberry business starts with significant resources and leadership that knows how to build," said Mr. James. "We are evaluating opportunities where our experience as builders and operators can give us an advantage."
Effective September 24, 2026, Huckleberry's common stock will trade on the Nasdaq Global Market under the trading symbol "HUCK" (CUSIP 257554105). Stockholders do not need to take any action. Existing share certificates and book-entry positions will remain valid.
Huckleberry begins with a debt-free balance sheet. At closing, the Company repaid all outstanding amounts under its credit facility and repurchased outstanding warrants held by the lenders. After giving effect to the purchase price adjustments set forth in the definitive agreement for the transaction, certain other adjustments agreed between the parties and payment of other pre-existing obligations at closing, the Company starts with cash of approximately $221 million, equivalent to approximately $4.46 per share.
The Company also retains more than $900 million in net operating loss carryforwards, along with certain other assets and liabilities that were not included in the sale.
The Company's tax benefits preservation plan remains in effect. The plan is intended to reduce the likelihood of an ownership change under Section 382 of the Internal Revenue Code that could limit the Company's ability to use its net operating losses and other tax attributes.
The Board is evaluating opportunities to put the Company's capital and tax assets to work, as well as potential ways to return capital to stockholders. The Company will share additional information when appropriate.
About Huckleberry
Huckleberry is a publicly traded company led by founder and CEO Josh James. Effective September 24, 2026, the Company will trade on the Nasdaq Global Market under the trading symbol "HUCK". The Company is evaluating opportunities to create long-term value for stockholders.
