Data management and analytics institute SAS announces its plans for initial public offering (IPO) in a recent press release. According to the press release, the company plans to go public by the year 2024.
SAS is now focusing on refining its financial reporting structure and further enhancing its artificial intelligence platform to prepare for its IPO. The company plans to conduct research and develop new and better artificial intelligence software for data management and analytics.
SAS now has enough market leadership and funds to back its decision of going public. Co-founder and CEO of SAS, Jim Goodnight, said, “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.”
He further mentioned that the company is on the right track of sustainable growth that has enabled SAS to gain the trust of its clients on its uniquely developed platform. “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,” Goodnight added.
Last year the company continued its 45 year streak of profitability by generating a revenue of $3 billion and has noted a growth of 8.4% in the first half of 2021. Workplace ethics is something that the company takes very seriously, and it has been able to maintain its position as the pioneer of workplace culture in the world.
The company has successfully understood the need for data analytics software in pandemic times and has developed industry-leading solutions to meet the requirement.
Goodnight mentioned, “ 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.”