Splunk (SPLK) IPO Prices at $17, Well Above Expected Range

April 19, 2012 7:39 AM EDT
Splunk (Nasdaq: SPLK) priced its IPO of 13,500,000 shares at $17, well above the expected $11-$13 range, which was recently raised from $8-$10.

The offering is being made through Morgan Stanley, Credit Suisse, J.P. Morgan, BofA/Merrill Lynch, UBS Investment Bank, Pacific Crest, and Cowen and Co.

Splunk provides an innovative software platform that enables organizations to gain real-time operational intelligence by harnessing the value of their data. The company's software collects and indexes data at massive scale, regardless of format or source, and enables users to quickly and easily search, correlate, analyze, monitor and report on this data, all in real time. As of January 31, 2012, Splunk had over 3,700 customers, including a majority of the Fortune 100. Some of our largest customers include Autodesk, Bank of America, Comcast, Etsy, Harvard University, Viacom and Zynga. Customers pay license fees based on their estimated indexing capacity needs.

For fiscal 2010, 2011 and 2012, Splunk's revenues were $35.0 million, $66.2 million and $121.0 million, respectively, representing year-over-year growth of 89% for fiscal 2011 and 83% for fiscal 2012, and net loss was $7.5 million, $3.8 million and $11.0 million, respectively.

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Credit Suisse, UBS, JPMorgan, Morgan Stanley, Merrill Lynch, Bank of America, Pacific Crest Securities, Cowen & Co

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