initial public offerings (IPOs) trading on American exchanges

Tuesday, July 31, 2018

Container Store (TCS) reported earnings on Tue 31 July 2018 (a/h)

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Container Store beats by $0.04, beats on revs; raises FY19 guidance 
  • Reports Q1 (Jun) loss of $0.08 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of ($0.12); revenues rose 7.0% year/year to $195.82 mln vs the $191.48 mln Capital IQ Consensus.
  • Comparable store sales were up 4.7%. This includes an approximate 190 basis point benefit from recognition of Custom Closets orders placed in the fourth quarter of fiscal 2017 that were delivered and installed in the first quarter of fiscal 2018.
  • Co raises guidancefor FY19, sees EPS of $0.38-0.48 (Prior $0.35-0.45), excluding non-recurring items, vs. $0.40 Capital IQ Consensus Estimate; sees FY19 revs of $890-900 mln (Prior $880-890 mln) vs. $882.40 mln Capital IQ Consensus Estimate.

SendGrid (SEND) reported earnings on Tue 31 July 2018 (a/h)

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SendGrid beats by $0.04, beats on revs; guides Q3 and FY18 revs above consensus 
  • Reports Q2 (Jun) earnings of $0.05 per share, $0.04 better than the Capital IQ Consensus of $0.01; revenues rose 32.1% year/year to $35.67 mln vs the $34.35 mln Capital IQ Consensus. Ended the quarter with more than 74,000 customers, up 35% compared with the second quarter of 2017. Delivered email volume of 140.2 billion for the second quarter, up 29% compared with the second quarter 2017.
  • Co sees Q3 revs of $35.9 -36.1 mln vs. $35.28 mln Capital IQ Consensus Estimate; non-GAAP adjusted net income of ~$1.25-1.75 million, which does not include ~$3.0 million of stock compensation expense, and less than $500,000 of restructuring and M&A-related expense. 
  • Co sees FY18 revs of $142.5 -144.0 mln vs. $141.66 mln Capital IQ Consensus Estimate; adjusted net income of $7.0 million to $9.0 million.

Monday, July 30, 2018

====Care.com (CRCM) reported earnings on Mon 30 July 2018 (b/o)



Care.com misses by $0.07, reports revs in-line; guides Q3 EPS below consensus, revs above consensus; reaffirms FY18 EPS guidance, guides FY18 revs in-line 
  • Reports Q2 (Jun) earnings of $0.04 per share, excluding non-recurring items, $0.07 worse than the Capital IQ Consensus of $0.11; revenues rose 9.5% year/year to $46 mln vs the $45.91 mln Capital IQ Consensus.
  • "Our total members grew 17% to 29.6 million at the end of the second quarter of 2018, compared to 25.2 million in the same period of 2017."
  • Co issues mixed guidancefor Q3, sees EPS of $0.12, excluding non-recurring items, vs. $0.14 Capital IQ Consensus Estimate; sees Q3 revs of $49.0-49.3 mln vs. $48.98 mln Capital IQ Consensus Estimate.
  • Co issues guidancefor FY18, reaffirms EPS of $0.65-0.67, excluding non-recurring items, vs. $0.68 Capital IQ Consensus Estimate; narrows FY18 revs to $191.5-193.0 mln from $191-193 mln vs. $192.22 mln Capital IQ Consensus Estimate.

Friday, July 27, 2018

Twitter (TWTR) reported earnings on Fri 27 July 2018 (b/o)

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Twitter beats by $0.01, beats on revs; guides Q3 Adj-EBITDA below estimates, cautions on MAUs 
  • Reports Q2 (Jun) earnings of $0.17 per share, excluding non-recurring items, $0.01 better thanthe Capital IQ Consensus of $0.16; revenues rose 23.8% year/year to $710.54 mln vs the $697.35 mln Capital IQ Consensus.
  • Adjusted EBITDA for Q2 was $265 million, or 37% of total revenue, vs. estimates for $261 mln. The co continues to expect full year adjusted EBITDA margin expansion in 2018 due to the significant margin expansion they delivered in the first half of the year. As the co continues to grow its headcount toward the year-end target of 10-15%, the co expects operating expense base to continue to grow in Q3 and again in Q4.
  • Overall growth in engagement was driven by a combination of organic growth, marketing, and product improvements. DAU grew 11% year-over-year in Q2, with double-digit growth in five out of the co's top 10 global markets, demonstrating another quarter of broad-based growth. Average MAUs were 335 million for Q2, an increase of 9 million year-over-year and a decrease of 1 million quarter-over-quarter, reflecting impact from decisions the co has made to prioritize the health of the platform, to not move to paid SMS carrier relationships in certain markets and, to a lesser extent, GDPR. In aggregate, these factors reduced MAU by more than 3 million in Q2. Average US MAUs were 68 million for Q2, compared to 68 million in the same period of the previous year and compared to 69 million in the previous quarter. Average international MAUs were 267 million for Q2, compared to 258 million in the same period of the previous year and compared to 267 million in the previous quarter. The co's DAU/MAU ratio remains well below 50%.
  • Additional Commentary:
    • As we began 2018, we made deliberate decisions to allocate product and engineering resources that had previously been focused on product improvements designed to deliver growth in audience and engagement to projects related to preparing for GDPR and broader platform health. This prioritization impacts growth in the near term, but we are confident that this is in the best long-term interest of the platform and will enable long-term growth as we improve the health of the public conversation on Twitter and over time reallocate teams from GDPR to other priorities and hire additional product and engineering resources.
    • We may also choose to not move to paid SMS carrier relationships in certain markets where we believe we can deliver a better Twitter experience with Twitter or Twitter Lite. While the magnitude of any potential future impact is difficult to predict, DAU will not be affected because DAU only includes accounts on our owned and operated services such as the Twitter app and twitter.com.
    • As a result of our health work, decisions not to renew or move to paid SMS carrier relationships in certain markets, and our decision to allocate resources towards GDPR and health, MAU could decline on a sequential basis in Q3. Based on our current level of visibility, we expect the decline to be mid-single-digit millions of MAU. As a reminder, DAU growth continues to be the best measure of our success in driving the use of Twitter as a daily utility.
  • Sees Q3 Adj-EBITDA of $215-235 mln vs. estimates for ~$268 mln; Adjusted EBITDA margin to be between 33% and 34%

Pinduoduo (PDD) began trading on the Nasdaq on 26 July 2018

Pinduoduo Inc. operates an e-commerce platform China.
The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc. in July 2018.
  • Sector: Consumer Cyclical
  • Industry: Specialty Retail
  • Full Time Employees: 1,159
  • Founded in 2015 
  • Based in Shanghai, China.
  • http://www.pinduoduo.com


=Tenable Holdings (TENB) began trading on the Nasdaq on 26 July 2018

Tenable, a Columbia, Maryland-based cybersecurity company, has closed its IPO at $23 per share.
Founded: 2002
tenable.com
The company raised $251 million in the offering and is now valued at $2.78 billion.
Unlike many fellow tech startups, Tenable has only a single-class stock structure that puts the new stock issuances in the IPO at an equal ranking to the original shares.
A typical 15% greenshoe option is still open, leaving the possibility of selling an additional 1.64 million shares and raising an extra $37.6 million.
Insiders are bound to a typical 180-day lockup period, expiring in early 2019.
The deal was led by Morgan Stanley (MS) and J.P. Morgan (JPM).

Wednesday, July 25, 2018

Bloom Energy (BE) began trading on the NYSE on Wed 25 July 2018

The Silicon Valley company makes fuel-cell energy systems for large corporate campuses and other installations. The company, which emerged with much fanfare and a "60 Minutes" segment in 2010, had an accumulated deficit of more than $2 billion, debt approaching $1 billion and cash on hand of less than $100 million as it approached the IPO.


New IPO Bloom Energy (BE) jumped in its first day of trading Wednesday, after pricing its initial public offering of 18 million shares of Class A common stock at 15 per share.

The Bloom Energy IPO pricing came in at the high end of the expected 13-15 range and gives the company a valuation of $1.6 billion.

The Sunnyvale, Calif.-based company says it uses proprietary solid oxide fuel-cell technology to "convert fuel into electricity through an electrochemical process without combustion at the highest efficiency of any power solution available in the world today."

Shares leapt 66.7% to close at 25.00 on the stock market today. Among other fuel-cell stocks, FuelCell Energy (FCEL) rose 1.5%, Plug Power (PLUG) rallied 2.6%, and Ballard Power Systems (BLDP) added 0.3%.

A curiosity surrounding Bloom is a 2014 settlement with now-shuttered Advanced Equities. The Chicago-based investment firm raised money for the clean-energy company and was in 2012 charged by the SEC with "misleading investors in private equity offerings."

But as the Wall Street Journal noted Tuesday, Advanced Equities co-founders Dwight Badger and Keith Daubenspeck will receive 200,000 shares of Bloom Energy after the IPO. They threatened legal action against Bloom in 2013, pointing fingers at the company for allegedly misleading them and prompting the SEC sanctions, according to the outlet, citing people familiar with the matter.

News outlet Axios said in June that a source close to Bloom has "no idea" why the clean-energy firm would offer Badger and Daubenspeck further compensation.

Bloom reportedly says the pair's claims lack merit.

Friday, July 20, 2018

Replimune (REPL) began trading on the Nasdaq on 20 July 2018

Replimune Group, Inc., a clinical-stage biotechnology company, focuses on the development of oncolytic immunotherapies to treat cancer.

  • Sector: Healthcare
  • Industry: Biotechnology
  • Full Time Employees: 52
  • Founded in 2015 
  • Headquartered in Woburn, Massachusetts
  • http://www.replimune.com

Replimune priced 6.7 mln share IPO at $15.00, the midpoint of the expected $14.00-16.00 range.
Ppened for trading at $16

Thursday, July 19, 2018

Tilray (TLRY) began trading on the Nasdaq on 19 July 2018

Tilray, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa.

  • Sector: Healthcare
  • Industry: Drug Manufacturers - Specialty & Generic
  • Full Time Employees: 313
  • Headquarters: Nanaimo, BC, Canada
  • Founded: 2013
  • http://www.tilray.com





Sunday, July 8, 2018

Sonos (SONO) files for an IPO on the Nasdaq

Sonos is an American consumer electronics company founded by John MacFarlane, Craig Shelburne, Tom Cullen and Trung Mai . Sonos is widely known for the smart speakers it develops and manufactures.

  • Headquarters: Santa Barbara, California
  • Founded: 2002
  • Competitors:  Bang & Olufsen (OTCPK:BGOUF), Bose, Samsung (OTC:SSNLF, OTC:SSNNF) subsidiaries Harman Kardon and JBL, Sony (NYSE:SNE) and Sound United subsidiaries Denon and Polk and developers of voice-enabled speakers and systems such as Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) and Google (GOOG, GOOGL).

  • SEC Form S-1
  • website https://www.sonos.com/en-us/home
  • The company posted $992 million in revenue for its 2017 fiscal year, up from $901 million in 2016, making for a growth rate of 10%. Sonos recorded a $14 million net loss in 2017, compared with a $38 million net loss in 2016.