(Reuters) -Pattern Group recorded a 35% jump in revenue in the first half of 2025, the e-commerce firm revealed on Friday in its U.S. initial public offering paperwork.
With the IPO calendar set for a seasonal slowdown through the end of August, corporate issuers are lining up for a potential roadshow launch after Labor Day when the new listings market kicks back into action.
Pattern had net income of $47 million in the six months ended June 30 on revenue of $1.14 billion, compared with net income of $35 million on revenue of $841 million a year earlier.
The Lehi, Utah-based company and some of its existing stockholders will sell shares in the offering.
Founded as iServe in 2013 by David Wright and Melanie Alder, Pattern is a so-called ecommerce accelerator that helps brands grow faster across hundreds of global marketplaces such as Amazon , Walmart , Target, eBay , TikTok Shop and Mercado Libre.
While Pattern initially started by selling products from a living room, it has since morphed into one of the top Amazon resellers globally.
More than 90% of Pattern’s revenue in 2024 came from consumer product sales on Amazon.
In 2021, Pattern had raised $225 million at a $2 billion valuation in a funding round led by investment firm Knox Lane.
Pattern’s major backers include private equity firm Banner Capital and investment firm KSV Global.
Goldman Sachs and J.P. Morgan are the lead underwriters for the offering. Pattern will list on the Nasdaq under the symbol “PTRN”.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju Samuel)
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