Pattern Group, an e-commerce accelerator that helps brands expand across global online marketplaces, filed for a US initial public offering (IPO) after posting a 35% jump in revenue in the first half of 2025.
The Lehi, Utah-based company reported net income of $47 million on revenue of $1.14 billion for the six months ended June 30, compared with net income of $35 million on revenue of $841 million a year earlier, its filing showed.
Pattern and some existing shareholders will sell shares in the IPO, though the filing did not specify the number of shares or an expected price range.
The company said proceeds earmarked for the business will support further expansion of its technology platform and brand partnerships.
Founded in 2013 as iServe by David Wright and Melanie Alder, Pattern positions itself as an “e-commerce accelerator,” combining proprietary software and on-demand expertise to help brands navigate the complexity of digital marketplaces.
The company uses artificial intelligence and data analytics to optimize advertising, content, pricing, forecasting and customer service. It says its platform has processed more than 46 trillion data points to date.
Pattern partners with more than 200 brands in sectors including health, beauty, consumer electronics, home, sports and pet products. It operates across more than 60 online marketplaces worldwide, including Amazon, Walmart, Target, eBay, TikTok Shop and Mercado Libre.
The IPO filing comes during a seasonal slowdown in U.S. listings, with most companies expected to launch roadshows after the Labor Day holiday when issuance typically picks up.
“The golden age for U.S. IPO is here,” IPOX CEO Josef Schuster said, citing a roughly 25% rise this year in the IPOX 100 index, which tracks the largest recent listings. “With IPO proceeds earmarked to stay in the firm, the IPO aligns well with other growth-focused deals we have seen this year.”
In 2024, Pattern generated $1.8 billion in revenue, up from $1.3 billion in 2023, and swung to net income of $68 million from a $3 million loss in 2022. Adjusted EBITDA for 2024 was $101 million, representing growth of 138% over two years.
Global e-commerce sales are forecast to grow at a 9.5% compound annual rate through 2029, reaching more than $4 trillion, according to Euromonitor. Pattern said it aims to capture a larger share of that growth by positioning itself as the “easy button” for brands trying to scale online.
In its filing, Patter did not specify the amount it expects to raise, saying it will depend on the final pricing and whether underwriters exercise an option to purchase additional shares.
Proceeds from stock sold by existing shareholders will not go to the company.
The company plans to use its share of the proceeds for working capital, general corporate purposes, and to support its growth strategies, including potential acquisitions or investments in complementary businesses and technologies.
Pattern also intends to allocate a portion of the funds to cover anticipated tax obligations tied to the settlement of restricted stock units.
The company said the offering is aimed at strengthening its capitalization, enhancing financial flexibility, and creating a public market for its shares, giving both the company and its stockholders access to public equity markets.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!