Construction tech firm EquipmentShare.com reveals revenue growth in US IPO paperwork

By Prakhar Srivastava

Dec 9 (Reuters) - ⁠EquipmentShare.com on Tuesday ⁠disclosed ‍a rise in nine-month revenue in its paperwork for a U.S. initial public offering, underscoring a year-end push among issuers to ‍move ahead with listings while markets remain receptive.

EquipmentShare provides fleet ​management, tracking and maintenance tools to help contractors work more efficiently.

Its revenue rose 27% to $2.81 ​billion for the nine months ended September 30 from the same period last year. Its net loss narrowed to $25.2 million from $47.2 million during the same period.

"The company is still ​eagerly deploying capital to build its rental fleet, making it more sensitive to interest rates," Lukas Muehlbauer, IPOX research analyst.

The equipment rental provider ​remained vulnerable to the construction sector's cyclicality despite its tech-forward narrative, with 94% of its revenue ‌reportedly tied to non-residential construction said Muehlbauer.

Founded in 2015, the Columbia, Missouri-based company operates a system that links equipment and ​workers, helping construction sites run more smoothly, ⁠safely and cheaply through its nationwide rental network.

EquipmentShare.com will list on the Nasdaq under the symbol "EQPT".

The U.S. IPO market ‌has rebounded after a slowdown tied to trade-policy uncertainty, with rising expectations of a Federal Reserve rate cut lifting executive confidence to tap public markets.

After a subdued finish ‌to November, the U.S. IPO market is preparing for a year-end burst of activity ‌as companies rush to tap a brief pre-holiday issuance window.

"Companies are filing now to secure their listings ahead of 2026, where anticipated shifts in Federal Reserve leadership and uncertainty ‍about the pace of further rate cuts could re-introduce volatility and potentially shut the issuance window," Muehlbauer added.

This ⁠week, construction services provider Cardinal Infrastructure, medical scanning center operator Lumexa Imaging, fintech firm Wealthfront are preparing to make their market debuts.

Goldman Sachs, UBS Investment and Wells Fargo are among lead book-running managers for the offering.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shailesh Kuber)

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