The IPO market has accelerated in 2025. In Q3, the US achieved its strongest IPO quarter since Q4 2021, with filings and new share issuances surging sharply following a relatively subdued Q2. In addition, PE-backed IPO listings more than doubled year over year, with US PE-backed IPOs accounting for over two-thirds of total listing value.
Companies looking to go public can feel optimistic given the outlook for 2026 and the overall market conditions. Market analysts, including EY and Morgan Stanley, project a significant rebound in IPO activity. Factors contributing to this optimism include stabilization following earlier tariff policies, favorable macroeconomic conditions, lower interest rates, and a robust pipeline of high-potential companies. Companies across technology, data security, and financial services are positioning for public listings, with several high-profile firms, including Cohesity, tZero, and potentially Canva, targeting 2026 debuts.
As investors anticipate these changes in 2026, companies could capitalize on the market conditions to begin the necessary steps to go public. Companies seeking an IPO will need to prepare financial statements and related disclosures consistent with public entity accounting principles and comply with the SEC’s rules and regulations. Successful IPO’s require careful planning and execution. Key areas of consideration include, but are not limited to, project management, accounting, financial reporting, S-1 preparation, technical accounting position papers, corporate governance, Sarbanes-Oxley internal controls, and post-IPO support as a public company. In addition, external auditors typically go back and perform expanded audit procedures to ensure that audit workpapers and procedures pass a PCAOB audit quality review.
Chess Consulting has decades of experience working with publicly held companies to support their complex accounting, financial reporting, and risk management. We provide a full range of services to help you through the IPO process. We can support an IPO-readiness campaign across a variety of areas, including project management, technical accounting position papers, drafting the S-1, and evaluating internal controls. See our IPO Readiness services fact sheet to learn more about how we help clients.