Morning Report:聽Welcome to a quiet IPO week. That’s going to change.
It’s been a good year for technology IPOs in the United States. Unicorn debuts have gone well, a grip of Chinese companies have gone public domestically, and there’s plenty more in offerings coming down the pike.
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The IPO market itself is hot a the moment. Per , “70-90 more US IPOs could raise over $20 billion by year-end.” And while those figures refer to all IPOs, technology firms will take a strong cut of the total.
For example, there’s waiting . The venerable company isn’t growing quickly and loses more money in recent periods compared to year-ago results, but it does have positive cash flow. How the market will price it will be critical in helping us at home understand the current appetite for tech shares.
础苍诲听 wants . The Chinese Internet of things (IoT) company is growing like a rocket and managed to generate GAAP profit in 2016, 2017, and the first half of 2018. Profit during a sustained period of hyper-growth is impressive.
Of course, Viomi is not the only Chinese tech shop looking to go public in the United States. startup is . The firm more than quintupled its revenue from the first half of 2017 to the first half of 2018, growing GAAP net income during both periods. Again, impressive.
And there’s more coming. NIO has a price range now听补苍诲听Qutoutiao is on-deck. We’ll have a lot of IPO coverage over the next couple of weeks, so make sure you have us on and strap in.
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