We got another handful of exciting initial public offerings last week, including deals for 3-D printing company ExOne (NASDAQ:XONE, +67%) and wood products/building materials firm Boise Cascade (NYSE:BCC, +31%). Expect that IPO bullishness to continue this week when these four companies go public:
Xoom
Xoom (NASDAQ:XOOM) is a next-generation money-transfer service that operates an extensive online platform in 30 countries, including hot emerging markets like India and Mexico.
From 2008 to 2012, revenues grew from $14.1 million to $80 million, or more than 50% annually. The company still has issues on the profitability side, however, losing $5.9 million last year.
Xoom certainly has a large market opportunity. According to the World Bank, global money transfer volume is expected to grow from an already-large $513 billion in 2011 to $685 billion by 2015. The main players in the market include Moneygram (NYSE:MGI) and Western Union (NYSE:WU).
Xoom plans to issue 5.8 million shares at a range of $13 to $15, and lead underwriters include Barclays (NYSE:BCS) and Needham & Co.
AutoGenomics
AutoGenomics (NASDAQ:AGMX) develops a molecular diagnostics system that helps with genetic tests. Customers include labs and specialty clinics.
Revenues spiked to $14.5 million during the first nine months of 2012, up from $5.2 million in the same period a year ago. The company also turned a $1.2 million profit after losing $8.1 million in 2011.
AGMX plans to issue 6 million shares at a range of $9 to $11. The lead underwriter is Leerink Swann.
Cancer Genetics
Cancer Genetics (NASDAQ:CGIX) develops genetic tests to help with the treatment of various cancers. CGIX has key relationships with institutions like the Mayo Foundation for Medical Education and Research and the Cleveland Clinic.
For the first nine months of 2012, CGIX’s revenues increased from $2.1 million to $3.2 million, and it was able to stem its losses, from $16.8 million in the year-ago period to $2.6 million.
Cancer Genetics plans to issue 5 million shares at a range of $6 to $8. Lead underwriters include Aegis Capital and Feltl.
ConnectOne Bancorp
ConnectOne Bancorp (NASDAQ:CNOB) is a community bank based in northeastern New Jersey. The firm has eight branches and $883.8 million in total assets.
CNOB has grown at a hefty pace since its founding in 2005, including a 28% spurt to $6.1 million in profits during the first nine months of 2012.
The company plans to issue 1.6 million shares at a range of $26 to $29. Lead underwriters include Stifel Nicolaus, Keefe, Bruyette & Woods and Sandler O’Neill.
Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.
