Global leader in analytics and AI, SAS has announced its intention to be ready for an initial public offering (IPO) by 2024. The company has achieved the financial strength, brand equity and market leadership to make this move under the leadership of co-founders, Jim Goodnight (pictured above) and John Sall.
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 it can continue to succeed and grow.
SAS will continue to invest and further develop its AI capabilities and advanced analytics software and solutions, to continue to meet customer needs and extend its leadership.
“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,” SAS co-founder and CEO, Jim Goodnight said.
“As an organisation, 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.”
In 2020, SAS generated circa $3 billion in revenue and achieved its 45th consecutive year of profitability. Further, in the first half of 2021, SAS achieved 8.4% revenue growth, demonstrating an increased need for data and analytics in response to the pandemic.
SAS provides best-in-breed AI and analytics solutions through its software and services for a loyal Global 2000 customer base. It is the only vendor to be named a leader in Gartner’s Magic Quadrant for Data Science and Machine Learning Platforms every year since the report was first published eight years ago.
The company is continually recognised globally as a best workplace and pioneer of workplace culture for its meaningful sense of corporate community building and commitment to employees.