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A Hard Year For Software IPOs

View original at news.crunchbase.com
Crunchbase News - Funding Ma Title: A Hard Year For Software IPOs Date: 2026-09-16 11:00 Source: https://news.crunchbase.com/public/energy-ai-defense-saas-ipos-2026/ <p>If you’re looking to measure tech IPO market strength by the amount of money companies have raised, 2026 is certainly up there.</p> <p>U.S…
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What we drew from this source

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  • Investment returns in tech IPOs are more concentrated than ever, with a winner-take-almost-all tilt in IPO proceeds more pronounced than in the past

    60% confidence

  • U.S. venture-backed technology companies have secured nearly $90 billion in domestic public offerings this year, the second-highest annual tally on record, with a few months still to go

    60% confidence

  • The paucity of enterprise software IPOs this year is not entirely surprising given the impact of AI on the sector, as VCs pour capital into newer AI-first platforms and existing SaaS unicorns rush to incorporate AI

    60% confidence

Data points we hold from this source

SpaceX · ipo proceeds share83 percent
What we know · the intelligence behind this page
Live from the substrate
What we're seeing
ESMO 2026 Oncology Data Wave Builds Toward Ivonescimab PDUFA, While Micro-Cap Biotech Exits the Market
Late October 2026 is a dense catalyst window led by ESMO 2026. Daiichi Sankyo's DXd antibody-drug conjugate (ADC) programs (DESTINY-Lung04, DESTINY-Breast11, REJOICE-Ovarian01/02, TUXEDO-3), Guardant's 25 abstracts and the PACE-LUNG ctDNA trial all report there. These feed into the FDA's 14 November 2026 PDUFA date for ivonescimab. Large and mid-cap developers with late-stage data and commercial launches (ZEGFROVY, ANKTIVA, MIUDELLA, lorundrostat, duvakitug) are drawing capital and attention. Spago Nanomedical's board decision to seek a Nasdaq First North delisting (EGM 19 November, application 25 January 2027) shows the capital squeeze on early-stage, single-asset names (Tumorad is Phase I).
Our read on the data ›
Signals we're tracking
EPKINLY Regulatory-Clinical Success Cascade
High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
Patterns we're watching ›
Where sources disagree
Ford Motor Company
Both facts give cash for Ford Motor Company at the same point in time (2025-12-31; FY 2025 year-end and Q4 2025 year-end are the same date). Both are labelled USD, but the values are 23,356,000,000 and 23.356, which cannot both be true in USD. The two numbers agree once the second is read as billions (23.356 bn = 23,356,000,000), so the economic content is consistent and the conflict is a unit/scale error in the Q4 2025 record. The period is not the reason for the conflict: a Q4 and an FY figure at the same year-end date should match.
We flag conflicts openly ›
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