Adaptive Insights Gears Up for IPO

Chris Lange

Adaptive Insights has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details have been given yet, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list its shares on the New York Stock Exchange under the symbol ADIN.

The underwriters for the offering are Morgan Stanley, Merrill Lynch, Jefferies, RBC Capital Markets, JMP Securities and Oppenheimer.

This firm is a leading provider of cloud-based software used to modernize business planning. Its platform, the Adaptive Insights Business Planning Cloud, transforms business planning into a strategic and competitive advantage by enabling organizations to respond to changing business conditions with confidence and agility.

The Adaptive Insights Business Planning Cloud allows customers to rapidly and effectively model their businesses, monitor and analyze performance on an ongoing basis, share dashboards and generate management reports. In addition, customers can use the Business Planning Cloud to evaluate actual performance versus plan, test alternative scenarios and leverage insights from analytics to make informed, timely decisions that drive future business results.

The company detailed its finances in the filing as follows:

We have experienced significant platform adoption leading to revenue growth in recent periods. For our fiscal years ended January 31, 2016, 2017 and 2018, our total revenues were $61.7 million, $81.8 million and $106.5 million, respectively. Over the same periods, we had subscription revenues of $49.4 million, $69.7 million and $93.9 million, respectively. Our net losses were $59.1 million, $44.7 million and $42.7 million, respectively, for the fiscal years ended January 31, 2016, 2017 and 2018.

Adaptive Insights plans on using the net proceeds from this offering to pay down its debt, as well as for working capital and general corporate purposes.