This week’s going to be a doozy in the Seattle tech scene.
On tap are a trio of IPOs from Washington state companies — two from the Seattle area and a third from Vancouver, Wash. And if that weren’t enough, many of the region’s biggest homegrown companies, as well as several tech giants with major Seattle presences will release their latest quarterly financials this week.
Here’s a cheat sheet for all the big happenings this week, and what to watch.
Later this week, DocuSign, Smartsheet and nLight are all expected to go public, likely on Thursday or Friday. Both DocuSign and Smartsheet upped their pricing figures in the run-up to their stock market debuts. The increased targets indicate an enthusiastic reception on Wall Street for the companies’ stock — part of a wave of interest in companies that develop enterprise software. We’ll be watching to see if that appetite remains strong when the companies begin to trade.
According to its latest filing with the U.S. Securities and Exchange Commission, DocuSign is looking to raise $417.5 million when it goes public, at an anticipated stock price of $24 to $26 per share. The maximum amount the company could raise is $648.8 million, according to the filing, should underwriters decide to buy their full allotment of shares. DocuSign originally started in Seattle and later relocated its headquarters to the San Francisco Bay Area. However, its Seattle office at the 999 Third Avenue tower remains its largest, with more than 850 people as of December.
Smartsheet, the Seattle-area company that helps Fortune 500 customers manage and automate key work processes, aims to raise as much as $120 million through its upcoming initial public offering with shares going in the $10 to $12 range. Smartsheet employed 787 people — up from 463 in January 2017 — as of last month, across three offices in Seattle, Boston, and Edinburgh, where Smartsheet planted a flag after making its first acquisition ever this past January, swooping up chatbot startup Converse.AI.
Vancouver, Wash.-based nLight, a maker of high-powered lasers used in aerospace, defense and manufacturing, plans to issue 5.4 million shares of common stock at $13 to $15 per share. It is looking to raise as much as $81 million at the high end.
Amazon, Microsoft, Starbucks and the newly named Expedia Group are among the Seattle-area tech heavyweights scheduled to report quarterly results on Thursday.
Last week, Amazon revealed, for the first time, the number of Prime subscribers: 100 million and counting. We’ll be watching for any more surprise reveals, whether Amazon Web Services can continue its growth and dominance of the cloud market and updates on the integration of its prized acquisition Whole Foods Market.
Microsoft shuffled the deck on its engineering groups last month, but that will not change how it reports its earnings. Microsoft’s cloud division has been a highlight for the company in recent quarters, as has its growing list of productivity tools, headline by Office 365.
F5 Networks, which will report earnings Wednesday, is in the middle of a multiyear effort to shift its revenue mix from hardware application delivery controllers sold to customers running their own data centers to software that accomplishes many of the same tasks, while also spinning up new security products designed for the public cloud era. As a result, revenue growth is expected to be fairly slow over the next several years, the company said at its recent analyst meeting. Any evidence that of stronger-than-expected revenue growth will be well received.
Facebook has drawn plenty of negative headlines over the Cambridge Analytica data breach that put personal information of 87 million users in the hands of political operatives. The social giant, which just opened a big office in Seattle, will report earnings Wednesday, and analysts are keenly watching for any blowback from the scandal. Will the #DeleteFacebook movement impact the number of daily active users? How will Facebook’s growing security team affect the bottom line? Will there be an advertiser revolt?
Google parent company Alphabet will report its quarterly financials after the closing bell Monday. Alphabet is switching up how it reports earnings. While that may seem mundane, the changes will give followers a chance to see how its investments in major tech companies like Uber and Magic Leap and reveal more details about how the Nest smart home unit affects the bottom line.
Editor’s Note: This story has been updated to accurately reflect F5’s earnings date.