Analytics firm announced recently its intention to be ready for an initial public offering (IPO) by 2024. Under the leadership of its co-founders, Jim Goodnight and John Sall, SAS has achieved the financial strength, brand equity, and market leadership to make this move.
To become IPO-ready, SAS will begin to take steps such as refining its financial reporting structure, streamlining certain operational processes, and enhancing its focus on the segments of its platform where the company can continue to succeed and grow to the benefit of its stakeholders.
With this announcement, SAS will continue to invest in — and to further develop — its AI (artificial intelligence) capabilities and advanced analytics software and solutions, to continue to meet customer needs and extend its leadership in a growing, highly competitive, and increasingly dynamic market.
“By moving toward IPO readiness, we can open up new opportunities for SAS employees, customers, partners, and our community to participate in our success, ensuring the brightest possible future for all of us,” said Jim Goodnight, co-founder and CEO, SAS. “As an organization, we are on a solid path forward, with sustainable growth that continues to build upon the trusted brand and platform we have created. We have built a strong operational and financial foundation, setting us up for an even better future. Now, it’s time to prepare for this next chapter.”
SAS provides AI and analytics solutions through its software and services for a loyal Global 2000 customer base.
In 2020, SAS generated approximately $3 billion in revenue and achieved its 45th consecutive year of profitability. The company has achieved 8.4% revenue growth in the first half of 2021, demonstrating an increased need for data and analytics to respond to, and recover from, the disruptive global pandemic. SAS expects to continue to bolster its strong financial foundation in the coming years as it prepares for a potential entry into the public markets.
“Over the years, SAS has built a reputation for innovation, a relentless focus on the customer, and a strong sense of corporate identity,” Goodnight said. “As we chart our path toward an IPO, we will continue to invest in our brand and platform, prioritizing our core values and empowering customers to solve their most complex problems.”
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