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S1 Breakdowns

Company deep dives ahead of their IPOs


Anthropic IPO: S1 Breakdown

Oct 27, 2026

•

21 min read

Anthropic IPO: S1 Breakdown

A commodity with 900% NDR and $6.6M in Revenue per Employee

CJ Gustafson
CJ Gustafson
Nscale IPO: S1 Breakdown

Sep 22, 2026

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16 min read

Nscale IPO: S1 Breakdown

What's $100 billion of commitments "worth"? The CoreWeave of the UK goes public

CJ Gustafson
CJ Gustafson
Oura Ring IPO: S1 Breakdown

Sep 6, 2026

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18 min read

Oura Ring IPO: S1 Breakdown

Benchmarks for Operators 9/6/26

CJ Gustafson
CJ Gustafson
Cumberland Farms IPO: S1 Breakdown

Jul 19, 2026

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21 min read

Cumberland Farms IPO: S1 Breakdown

Benchmarks for Operators 7/19/26

CJ Gustafson
CJ Gustafson
Jersey Mikes IPO: S1 Breakdown

Jul 12, 2026

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15 min read

Jersey Mikes IPO: S1 Breakdown

Benchmarks for Operators 7/12/26

CJ Gustafson
CJ Gustafson
Lime Scooters IPO: S1 Breakdown

Jun 23, 2026

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18 min read

Lime Scooters IPO: S1 Breakdown

Your favorite micromobility brand rides from the ashes (to pay back it's debt)

CJ Gustafson
CJ Gustafson
Bending Spoons IPO: S1 Breakdown

Jun 11, 2026

•

14 min read

Bending Spoons IPO: S1 Breakdown

The owner of AOL, Evernote, Vimeo, and Eventbrite goes public

CJ Gustafson
CJ Gustafson
SpaceX IPO: S1 Breakdown

May 21, 2026

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17 min read

SpaceX IPO: S1 Breakdown

The most-anticipated IPO of the decade, with a CEO comp plan tied to a colony on Mars

CJ Gustafson
CJ Gustafson
Cerebras IPO: S1 Breakdown

May 12, 2026

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19 min read

Cerebras IPO: S1 Breakdown

Bigger is certainly bigger

CJ Gustafson
CJ Gustafson
Motive IPO: S1 Breakdown

Dec 25, 2025

•

10 min read

Motive IPO: S1 Breakdown

Keep on truckin'

CJ Gustafson
CJ Gustafson
Klook IPO: S1 Breakdown

Nov 13, 2025

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21 min read

Klook IPO: S1 Breakdown

Experiences go public

CJ Gustafson
CJ Gustafson
Breaking Down the IPO Process

Oct 30, 2025

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14 min read

Breaking Down the IPO Process

Inside Navan's IPO sprint, and the inner workings of a Road Show

CJ Gustafson
CJ Gustafson
Wealthfront IPO: S1 Breakdown

Oct 2, 2025

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25 min read

Wealthfront IPO: S1 Breakdown

Small revenue, mighty EBITDA

CJ Gustafson
CJ Gustafson
Navan IPO: S1 Breakdown

Sep 21, 2025

•

30 min read

Navan IPO: S1 Breakdown

Travel, Payments, and Expense Management Walk Into a Bar...

CJ Gustafson
CJ Gustafson
Netskope IPO: S1 Breakdown

Aug 24, 2025

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28 min read

Netskope IPO: S1 Breakdown

Weekly benchmarks for operators: 8/24/25

CJ Gustafson
CJ Gustafson
Does IPO Timing Matter More Than Performance? StubHub Thinks So

Aug 17, 2025

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5 min read

Does IPO Timing Matter More Than Performance? StubHub Thinks So

Weekly benchmarks for operators: 8/17/25

CJ Gustafson
CJ Gustafson
Figma IPO: S1 Breakdown

Jul 2, 2025

•

16 min read

Figma IPO: S1 Breakdown

From multiplayer design tool to the OS for digital product creation.

CJ Gustafson
CJ Gustafson
Chime IPO: S1 Breakdown

May 18, 2025

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24 min read

Chime IPO: S1 Breakdown

Payments is a volume business. And trust is the moat.

CJ Gustafson
CJ Gustafson
Stubhub IPO: S1 Breakdown

Mar 23, 2025

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19 min read

Stubhub IPO: S1 Breakdown

3/23/25 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
Klarna IPO: S1 Breakdown

Mar 16, 2025

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24 min read

Klarna IPO: S1 Breakdown

3/16/25 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
CoreWeave IPO: S1 Breakdown

Mar 9, 2025

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26 min read

CoreWeave IPO: S1 Breakdown

3/9/25 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
Sailpoint IPO: S1 Breakdown

Jan 26, 2025

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23 min read

Sailpoint IPO: S1 Breakdown

1/26/25 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
ServiceTitan IPO: S1 Breakdown

Nov 24, 2024

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13 min read

ServiceTitan IPO: S1 Breakdown

11/24/24 Benchmarks for Operators

CJ Gustafson
CJ Gustafson
OnlyFans Financials Revealed

Oct 3, 2024

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6 min read

OnlyFans Financials Revealed

Breaking down OnlyFans' financial statements, business model, and efficiency metrics

CJ Gustafson
CJ Gustafson
Solera IPO: S1 Breakdown

Jul 2, 2024

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18 min read

Solera IPO: S1 Breakdown

An automotive data giant goes public

CJ Gustafson
CJ Gustafson

yo, btw…

none of this is intended to be financial or legal advice. do your own homework. call your mom once a week. and make sure to hydrate.