The initial public offerings keep on coming.

Business intelligence startup Domo Inc. Monday set its IPO price ahead of its upcoming listing while cloud survey company SurveyMonkey Inc. announced that it had lodged its IPO paperwork, adding to the growing number of companies planning to go public later in the year.

Domo, which is scheduled to list on the Nasdaq exchange June 25, said it would offer 9.2 million shares at a price range of $19 to $22. At the midpoint, it would see the company float at a valuation of $546 million, a quarter of the $2.3 billion price at which it was valued as of its last round. It’s also lower than the $689.7 million it has raised over multiple rounds, including those in April 2015 and March 2016.

The massive down valuation, not unprecedented but rare in recent times, appears to be a reflection of Domo’s troubled financials. Business Insider reported that the company generated $108.5 million in revenue in 2017 but recorded an overall net loss of $176.6 million. Losses aren’t completely untypical for a tech company going public, but that’s an especially large one relative to revenue, and Domo says in its filing that it has only $72 million in the bank and that it has exhausted its credit.

“The filing warned that Domo needed to raise capital by August or else it will be forced to ‘significantly reduce operating expenses,'” the report noted.

As for SurveyMonkey, it confirmed it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission.

Rumors that SurveyMonkey was preparing to go public first emerged in January. The company, founded way back in 1999, offers a cloud-based online survey and questionnaire tool that helps users gather survey-related information and has, at least to some, become synonymous with online surveys in the same way that Google has become synonymous with search.

The number of shares to be offered SurveyMonkey and the price range for the proposed offering have not yet been determined. Going into its offering, even guessing a valuation on the offering is nigh on impossible. SurveyMonkey last raised money on a $2 billion valuation back in 2014. With about 3 million daily users in 2018, the best guess is that the valuation will be higher.

Both IPOs follow in the footsteps of recent successful public offerings from Dropbox Inc., DocuSign Inc. and ZScaler Inc.

Photo: infomatique/Flickr