New IPOs - Let's GO!
IPO - Initial Public Offering
Below are nine IPOs coming for you to keep in mind. Some of these are household names, you may have used their services or seen their products on tv.
“Been There. Do This” has mentioned previously that the newness of IPOs can help open up the markets. The additional monies being spent on new business can generally aid in the success of the overall stocks existing already! Here we feature some upcoming IPOs for you to peruse as these are expected to come available in 2025. The past two years have not been good for IPOs, so we are ready for a good showing in 2025.
SailPoint is the first big test of the tech IPO market in 2025, which is expected to see well-known names such as Stripe potentially debut (see below) as companies hope for a friendlier regulatory backdrop under President Trump.
SailPoint (SAIL) is poised to start trading at the Nasdaq tomorrow Thursday. The company priced its initial public offering (IPO) at the top end of its targeted range of $21 to $23, raising $1.38 billion in proceeds. This cybersecurity play makes another return to public markets.
The company's valuation ahead of its IPO stood at $12.6 billion. Its closest competitor, Okta (OKTA), is valued at $16.8 billion. OKTA closed yesterday at $88.49.
"The market seems to be hungry today for what we call growth at scale with profitability. If you've built a pretty large business, you're able to grow that business and do so profitably, that's kind of the magic combo of today. And we were once that profile. I think investors on the roadshow found that interesting," SailPoint founder and CEO Mark Bravo said.
The identity management tech firm is no stranger to public markets. On its first day of trading, the stock finished up 8.3% at $13. The company had priced its IPO then at $12 a share. At the time, SailPoint touted sales of $118.3 million and growth of 34% in the nine months before its IPO. It had a $13 million net loss.
Thoma Bravo took the company private in 2022 for $6.9 billion or $65.25 a share.
Today, Sailpoint is a more mature company operationally and financially — though it's producing losses despite a shift to a software-as-a-service model.
For the year ended Jan. 31, 2025, the company estimated in its prospectus it would earn $875 million to $877 million in annual recurring revenue. That would be up about 41% year over year.
SailPoint didn't disclose guidance for its fiscal year's bottom line.
We are expecting a "banner" year for IPOs in 2025, with an estimated volume range of 155 to 195 companies coming to market. They could collectively raise $40 billion to $55 billion in funding.
TOP IPOs TO WATCH FOR IN 2025
ESTIMATED VALUATION
Stripe $65 billion
Stripe powers online and in-person payment processing and financial solutions for businesses of all sizes…
