Biodesix (BDSX) : 3-year performance

 

Ibotta files for IPO, plans to list on NYSE

Ibotta has filed a registration statement for its proposed initial public offering (IPO) with the Securities and Exchange Commission (SEC). 

The number of shares and the price range for the proposed offering have not yet been determined, the provider of digital promotions and performance marketing solutions said in a Friday (March 22) press release.

Ibotta intends to list its Class A common stock on the New York Stock Exchange (NYSE) under the symbol “IBTA,” according to the release.

The company’s platform enables brands to deliver digital promotions to more than 200 million consumers through the Ibotta Performance Network (IPN), a network of publishers that allows marketers to influence consumers’ shopping habits while paying only when their campaigns directly result in a sale, the press release said. Since 2012, American shoppers have earned $1.8 billion through the IPN.

Ibotta is backed by Walmart and has more than 850 clients, including PepsiCo, Nestle and Coca-Cola, Reuters reported Friday. The company’s revenue grew 52% year-over-year in 2023, and its net income margin grew 12%.

If the pace of IPOs being completed at the time of that report continues, it will exceed the levels seen in 2022 and 2023, Goldman Sachs said.

Potential IPOs for Chime Financial and Encyclopaedia Britannica have been reported in recent days.

On Friday, it was reported that Chime Financial plans to launch its IPO in 2025 after having been considered an IPO candidate for years. 

Encyclopaedia Britannica announced in January that it confidentially submitted a draft registration statement with the SEC relating to a proposed IPO. Bloomberg reported Monday that the company is aiming for a valuation of about $1 billion and may launch its IPO as early as June.

Reddit files for IPO

Social-media platform Reddit — the home of AMAs, Wall Street Bets and thousands of other online communities — publicly filed its registration statement for an IPO on Thursday, detailing plans to push further into advertising, data sales and analytics, and what it called its budding user-driven economy.

The company, founded in 2005, plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.” The filing did not disclose the number of shares to be offered or their potential price.

Reddit's US IPO filing reveals $90.8 million losses, 21% revenue growth in 2023

(Reuters) -Reddit disclosed on Thursday that its net loss narrowed to $90.8 million and revenue growth was roughly 21% in 2023, as the social media company made its IPO filing public in the run-up to its highly anticipated planned U.S. stock market debut in March.

The initial public offering (IPO) filing comes almost two decades after Reddit's launch and will be a major test for the platform that still lags the commercial success of social media contemporaries such as Facebook and Twitter, now known as X.

Reddit said it had an average of 73.1 million daily active users and 267.5 million weekly active users in the three months ended Dec. 31, 2023. The company said over 100,000 active communities used its platform, which had 1 billion cumulative posts.

In the IPO filing, Reddit reported a narrower net loss of $90.8 million for the year ended Dec. 31 and logged revenue growth of $804 million, up from $666.7 million a year earlier.

Reuters reported on Wednesday, citing sources, that San Francisco-based Reddit has struck a deal with Alphabet's Google to make its content available to train the search engine giant's artificial intelligence models. The contract is worth about $60 million each year, according to one of the sources.

Hitek Global (HKIT) : 1-year performance

• Sector(s): Technology
• Industry: Software - Application
• Founded in 1996 a
• Headquartered in Xiamen, China
• https://www.xmhitek.com

Snap to lay off 10% of global workforce, around 500 employees

Snap said it will lay off 10% of its workforce worldwide, around 500 employees, to “promote in-person collaboration.”

• The company’s last major round of cuts was in August 2022, when it laid off 20% of staff and restructured its business lines.
• Snap CEO Evan Spiegel testified before the Senate Judiciary Committee last week, one of several social media executives to face scrutiny over the damage their platforms caused young people.
• The social media platform is the latest tech company to continue cutting in 2024. Nearly 24,000 tech workers lost their jobs in January alone. Already this month, cybersecurity and identity company Okta and Zoom have laid off staff.
• Snap stock remains below its debut price and well off its 2021 high of around $83.
  

 

 

Snap announces plans to reduce headcount by approx. 10% of global full time employees; will incur pre-tax charges of $55-$75 mln related to the headcount reduction

• Per a filing, "In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team."
• As a result, SNAP currently estimates that it will incur pre-tax charges in the range of $55 million to $75 million, primarily consisting of severance and related costs, and other charges, of which $45 million to $55 million are expected to be future cash expenditures. The majority of these costs are expected to be incurred during the first quarter of 2024. Potential position eliminations in each country are subject to local law and consultation requirements, which may extend this process into the second quarter of 2024 or beyond in certain countries. The charges that they expect to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ materially from the estimates disclosed above.

IPOs this week : Feb 5 - 9, 24 (wk 6)

American Healthcare REIT – Irvine, Calif., 56 million shares, priced $12-$15, managed by BofA Securities/Morgan Stanley. Proposed NYSE symbol AHR. Business: Healthcare REIT with 298 properties in the US and UK.

Amphitrite Digital – St. Thomas, US Virgin Islands, 1.8 million shares, priced $3.50-$4.50, managed by Kingswood Capital Markets. Proposed NYSE American symbol AMDI. Business: Provides maritime tours and activities in the US and Virgin Islands.

BBB Foods – Mexico City, Mexico, 28.1 million shares, priced $14.50-$16.50, managed by JP Morgan/Morgan Stanley. Proposed NYSE symbol TBBB. Business: Operates grocery stores in Mexico.

BioLingus – Hergiswil, Switzerland, 400 thousand shares, priced at $20, managed by Univest Securities. Proposed Nasdaq symbol SUBL. Business: Switzerland-based Phase 1 biotech developing sublingual peptides for diabetes.

Fortera Group (The) – Jacksonville, Fla., 18 million shares, priced $15-$18, managed by Goldman Sachs/JP Morgan. Proposed NYSE symbol TFG. Business: Insurance company focused on business lines and fee-based services.

Kyverna Therapeutics – Emeryville, Calif., 11.1 million shares, priced $17-$19, managed by JP Morgan/Morgan Stanley. Proposed Nasdaq symbol KYTX. Business: Phase 2-ready biotech developing cell therapies for autoimmune diseases.

Legato Merger III – New York, 17.5 million shares, priced at $10, managed by BTIG/Craig-Hallum Capital Group. Proposed NYSE American symbol LEGT.U. Business: Blank check company.

Metros Development – Tokyo, Japan, 1 million shares, priced 8-$9, managed by Boustead Securities/EF Hutton. Proposed Nasdaq symbol MTRS. Business: Real Estate.

Motus GI (MOTS): 6-year performance

 

iQIYI (IQ) : 6-year performance

Ticker: IQ

 

BrightSpring Health Services files for an estimated $1 billion IPO

BrightSpring Health Services Inc. filed for a US initial public offering on the first business day of the New Year.

The home and community-based health-care services provider backed by KKR & Co. was planning to seek to raise $1 billion in an IPO, Bloomberg News reported in September. Tuesday’s filing with the US Securities and Exchange Commission doesn’t include proposed terms of the offering, which would be disclosed in a subsequent filing.

The company previously filed for an IPO in late 2021, but withdrew just over a year after its initial filing.

The Louisville, KY-based company was founded in 1974 and booked $8.4 billion in revenue for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol BTSG. BrightSpring Health Services filed confidentially on August 28, 2023. Goldman Sachs, KKR, Jefferies, Morgan Stanley, UBS Investment Bank, BofA Securities, Guggenheim Securities, and Leerink Partners are the joint bookrunners on the deal. No pricing terms were disclosed.

Company Data

• Headquarters Louisville, KY, United States
• Founded 1974
• Employees 35,000
• Website  www.brightspringhealth.com