Output assets within a matrix block using Imager and Craft 3
Why do you try to fetch the image multiple times? 

{% for image in block.logos %}


Will fetch the images and loop them {% set logo = block.logos.first() %} -> will fetch the first image again and again.

{% for image in block.logos %}
    {% set transformedImage = craft.imager.transformImage(image, { width: 312, height: 200, }) %}
    &lt;img src="{{ transformedImage.url }}" alt="{{ logo.title }}"&gt;
{% endfor %}


Should work