Markets
ZS

The number of 2018 US tech IPOs will double over the next 10 days

A wave of US tech IPOs has taken over the April IPO calendar . Five US tech companies are going public over the next 10 days, more than double the four that have IPO'd year-to-date. Those four average a 42% return from IPO, with stand-out returns from the three unicorns valued at over $1 billion.

Four US Tech Companies Have IPO'd in 2018: 42% Average Return
IssuerBusiness Trade Date LTM SalesYoY Growth Deal SizeIPO Mkt Cap Price vs.Midpoint 1st-Day Pop04/17 Return
Zuora ( ZUO )San Mateo, CA 04/12/18 $168M+30% $154M$1,643M 40% +43%+47%
Provides a cloud-based subscription billing and management platform.
Dropbox ( DBX )San Francisco, CA 03/23/18 $1,107M+31% $756M$9,437M 24% +36%+42%
Leading web-based cloud storage and collaboration platform.
Zscaler ( ZS )San Jose, CA 03/16/18 $154M+57% $192M$2,056M 46% +106%+80%
Provides a cloud-based network security service for enterprises.
Cardlytics ( CDLX )Atlanta, GA 02/09/18 $128M+15% $70M$267M -7% +3%+9%
Provides a banking-based advertising channel to consumer products marketers.
Note: Table shows organic growth rates. Excludes non-US companies that have listed in New York.

Be the first to know: Sign up for a free trial of our premium platform, IPO Pro . Follow us on Twitter ( @IPOtweet ) and register for our updates on the IPO market.

Five more US tech IPOs are scheduled for April, including four enterprise software companies with proposed valuations of more than $1 billion. Investors have demonstrated a strong appetite for high-growth software plays, which should benefit Pivotal , DocuSign and SmartSheet . DocuSign in particular boasts over $500 million in sales, 36% growth and positive free cash flow. While SmartSheet has high losses and comparatively lower annual sales, its blazing-fast growth (+66%) should garner interest.

Five US Tech Companies Scheduled to Go Public
IssuerBusiness LTM SalesYoY Growth Deal SizeMarket Cap Price RangeShares Filed PricingDate
Pivotal Software ( PVTL )San Francisco, CA $509M+22% $555M$4,274M $14 - $1637,000,000 Thu04/19
DellEMC spin-off providing a platform to streamline cloud software development.
Ceridian HCM (CDAY)Minneapolis, MN $751M+7% $420M$2,753M $19 - $2121,000,000 Wk of04/23*
Provides enterprises with human capital management software.
DocuSign (DOCU)San Francisco, CA $519M+36% $543M$4,676M $24 - $2621,700,000 Wk of04/23*
Provides a cloud-based electronic signature platform.
Smartsheet (SMAR)Bellevue, WA $111M+66% $128M$1,204M $10 - $1211,632,950 Wk of04/23*
Provides a spreadsheet-based work collaboration platform.
nLight (LASR)Vancouver, WA $139M+37% $76M$533M $13 - $155,400,000 Wk of04/23*
Manufactures high-power semiconductor and fiber lasers.
*Get exact trade dates on IPO Pro .

IPO PRO EXCLUSIVE : The chart below shows the valuation multiples for the year's US enterprise software IPOs, and their growth rates. Each of the year's three unicorns has delivered strong returns, averaging 54% from IPO price, mostly in first-day gains. That's a good sign for the upcoming high-growth names below.

Enter your alt tag here

The article The number of 2018 US tech IPOs will double over the next 10 days originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ZS CDLX ZUO DBX

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More