Mulesoft set to be first tech IPO of 2017? We'd forgotten they existed...
Just over $180m in revenue, it turns out... and gross profit of $138m!? Oh, net loss though...
App integration software business Mulesoft is set to make its initial public offering after revealing its financials.
Founded in 2006, the company has only now published its financial details as part of a filing to the US Securities and Exchange Commission in preparation for going public.
The San Francisco-headquartered business revealed it pulled in $187.7m last year, up 170 per cent from its $110.3m in revenue in 2015. Gross profits were just over $138m from $78m, and net losses decreased to a piddling $49.6m, down from $65.4m the year before.
Mulesoft launched Anypoint, its application integration software platform, back in 2013. Why it has decided to go public now remains a mystery with yesteryear's hyped valuations a certain thing of the past.
The company said the number of shares to be offered and the price range for those shares haven't been decided. It intends to list the Class A common stock on the New York Stock Exchange under the ticker symbol MULE. ®