Company: Adaptive Insights, Inc.
Symbol: ADIN
Description: They are a leading provider of cloud-based software to modernize business planning.
Trade Date: 6/14
Shares: 8.2 million
Price Range: $13.00-$15.00
Underwriter(s): Morgan Stanley, BofA Merrill Lynch, Jefferies, RBC Capital
Co-Manager(s): JMP Securities, Oppenheimer & Co.
Terms Added: 6-4-18
Business: They are a leading provider of cloud-based software to modernize business planning. Their 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 their 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.
FINANCIALS: For their fiscal years ended January 31, 2016, 2017 and 2018, their total revenues were $61.7 million, $81.8 million and $106.5 million, respectively. For the three months ended April 30, 2017 and 2018, their total revenues were $24.2 million and $32.1 million, respectively. For their fiscal years ended January 31, 2016, 2017 and 2018, their subscription revenues were $49.4 million, $69.7 million and $93.9 million, respectively. For the three months ended April 30, 2017 and 2018, their subscription revenues were $21.2 million and $28.3 million, respectively. Their net losses were $59.1 million, $44.7 million and $42.7 million for the fiscal years ended January 31, 2016, 2017 and 2018, respectively. Their net losses were $10.0 million and $11.0 million for the three months ended April 30, 2017 and 2018, respectively.
Book-Building Status: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.
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