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3 upcoming IPOs to watch for in September 2022

A fitness subscription service and a human resources software company are among the potential IPOs this month.

Rising interest rates, insider selling, the war in Ukraine and a wide market sell-off don’t provide the incentive for new companies to go public this year. Over 300 companies wait to be listed, but only a few have launched their IPO route so far in 2022. As of June 17, just 47 companies, valued at $4.6 billion, have gone public, according to Barron’s. That’s 74% lower compared to 2021.

Even some companies that had been expected to go public in the last quarter of 2021, including iFIT Health & Fitness Inc, are still waiting, pushing out their IPOs to a later date this year. Many companies that have already filed IPO paperwork, including Reddit, are on hold as well.

Here are three companies to keep an eye in case they go public this month. Some of these companies postponed their IPOs from last year and could list in July or at a later date.

Overview

Company nameTicker symbolExpected IPO dateExpected price range
Justworks, Inc.JWJuly 2022N/A
iFIT Health & Fitness IncIFITJuly 2022$18 – $21
Aspire Global IncASPGJuly 2022$7 – $9

We’re actively monitoring these IPOs and will update the page as more information becomes available.

2. Justworks, Inc.

Justworks is a human-resources software company established in 2012. The company offers HR software for nearly 9,000 customers in the US, including Axios Media, Mamava and Dean Technology. The software helps companies access and manage benefits, payroll, human resources and compliance support.

  • Expected IPO date: July 2022
  • Exchange: Nasdaq
  • Ticker symbol: JW
  • Expected stock price: N/A
  • Publicly filed: S-1 form filed on Mar. 21, 2022

    Justworks is profitable

    The company was profitable in 2021, compared to 2020 when it had a loss of $20 million

    FinancialsNovember 30, 2021November 30, 2020May 31, 2021May 31, 2020
    Justworks revenue$613 million$429.7 million$982.7 million$742.4 million
    Justworks net (loss) earnings($7.2 million)$0.3 million$10.9 million($20.3 million)

    3. iFIT Health & Fitness Inc

    iFIT Health & Fitness Inc is a health and fitness subscription technology company. It sold more than 10 million fitness products in 2021, making it one of the largest fitness equipment providers in the US. Their products include treadmills, bikes, ellipticals, rowers, climbers, strength equipment, fitness mirrors, yoga equipment and accessories. The company’s brands include iFIT, NordicTrack, ProForm and Freemotion.

    The company’s iFIT operating system offers interactive experiences, such as climbing Mt. Kilimanjaro, for $15 monthly for individuals or $39 monthly for families of up to five.

    • Expected IPO date: July 2022
    • Exchange: Nasdaq
    • Ticker symbol: IFIT
    • Expected stock price: $18 to $21
    • Publicly filed: S-1 form filed on Aug. 31, 2021

      iFIT Health & Fitness Inc is not profitable

      Despite selling $1.7 billion worth of products in 2021, iFIT is not profitable. This is mostly because the company has increased sales and marketing efforts, invested in research and development, expanded operating and retail infrastructure, made acquisitions and added content and features to its iFIT platform. A global expansion has also impacted its profitability.

      The IPO’s expected valuation is $6.4 billion.

      Year-end financialsMay 31, 2020May 31, 2021
      iFIT Health & Fitness Inc revenue$851 million$1.745 billion
      iFIT Health & Fitness Inc net (loss) earnings($98 million)($516 million)

      4. Aspire Global Inc

      Aspire Global Inc designs and sells e-cigarettes and vaping products worldwide. The company is incorporated in the Cayman Islands, but it’s based in China. Aspire sells most of its products in Europe and North America.

      The company is also expanding into original equipment and design manufacturing products. The first is using an Aspire design for a client but with the client’s logo, while the second is a fully designed and customized product to meet the client’s needs. As of August 2021, the OEM and ODM business represents a small portion of the company income, but Aspire Global hopes this will change in the future.

      • Expected IPO date: July 2022
      • Exchange: Nasdaq
      • Ticker symbol: ASPG
      • Expected stock price: $7 to $9
      • Publicly filed: S-1 form filed on July 26, 2021

        Aspire is profitable

        Selling e-cigarettes and vaping products seems to be working well for Aspire, judging by its financials. However, the revenue and net earnings haven’t been consistent for the past two years. This inconsistency could partly be due to the pandemic, but we need to see the company’s future performance to know for sure.

        Aspire Global expects a valuation of around $1.2 billion from the IPO.

        FinancialsDec. 31, 2019Dec. 31, 2020June 30, 2019June 30, 2020
        Aspire revenue$40.9 million$44.2 million$122 million$79 million
        Aspire net (loss) earnings$8.5 million$835 thousand$42 million$19 million

        How to invest in IPOs

        Thanks to some trading platforms, investing in IPOs is available to everyday traders. Here’s how it works:

        1. Use the right platform. Trading platforms such as Robinhood, Webull and SoFi let you order some IPO stocks before they hit the market, at IPO offering prices.
        2. Find the IPO stock you want to buy. Select the stock and enter the number of shares you want to buy and at what price.
        3. Review your order. And submit when ready. Some platforms may ask you to confirm the order before the IPO.

        Compare trading platforms

        If your trading platform doesn’t offer early access to IPO stocks, you can use any of the following to buy when the stock goes public.

        1 - 7 of 7
        Name Product Asset types Stock trade fee Minimum deposit Signup bonus
        SoFi Invest
        Stocks, ETFs, Cryptocurrency
        $0
        $0
        $10 - $100
        when you open an account and place a first crypto trade of $50 - $5,000+
        A free way to invest in most equities.
        eToro
        Stocks, ETFs, Cryptocurrency
        $0
        $10
        8%-12% of your deposit
        when you sign up and deposit at least $50. T&Cs apply.
        Trade stocks in the app or online with $0 commissions. Not available in NY, NV, MN, TN, and HI.
        Public
        Stocks, ETFs, Cryptocurrency
        $0
        $0
        Receive a free stock slice worth between $3–$300
        when you sign up for an account and deposit at least $20.
        Commission-free trading in stocks and ETFs with a social networking twist.
        Tastyworks
        Stocks, Options, ETFs, Cryptocurrency
        $0
        $0
        $200 in US stocks
        when you open and fund an account with min. $2,000 for 3+ mos.
        Trade stocks, options, ETFs and futures on mobile or desktop with this advanced platform.
        JPMorgan Self-Directed Investing
        Stocks, Bonds, Options, Mutual funds, ETFs
        $0
        $0
        $125 - $625
        when you open and fund an account with $25,000 - $250,000+
        INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
        Robinhood
        Stocks, Options, ETFs, Cryptocurrency
        $0
        $0
        Get a free stock
        when you successfully sign up and link your bank account.
        Make unlimited commission-free trades, plus earn 3% interest on uninvested cash in your account with Robinhood Gold.
        Tradier
        Stocks, Options, ETFs
        $0
        $0
        N/A
        Customize your trade platform or build your own Deep tools, charts and screens Analyzers to help you study before you trade
        loading

        Compare up to 4 providers

        *Signup bonus information updated weekly.

        Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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