It’s Go Time: IPO Market Poised for a Blockbuster Q4

After a long 2024/2025 wait caused by the U.S. presidential election, tariff uncertainty, and interest-rate volatility, the IPO market is finally roaring back to life post–Labor Day. Issuers who sat on the sidelines for more than a year are now filing and pricing at a rapid clip, setting up what could be the busiest fall calendar in years.

Why Now? The End of Delays

For much of the past 18 months, companies delayed offerings as political and macro headwinds created uncertainty around valuations. But as markets stabilized in mid-2025, confidence returned—and marquee IPOs reminded investors just how hungry they were for new paper. Chime’s June debut soared nearly 60% on day one, while Circle, eToro, and CoreWeave drew robust demand and solid aftermarket trading. That momentum has emboldened a wave of issuers to finally move forward.

The Lineup: Q4 2025 IPOs to Watch

The fall calendar already features some of the most diverse and exciting names in years:

• Gemini (GEMI) – Crypto exchange founded by the Winklevoss twins, eyeing a Nasdaq debut.

• Netskope (NTSK) – Cloud security and SASE leader, with ARR topping $700 million and growth above 30%.

• Klarna – The Swedish fintech giant targeting a $14 billion U.S. IPO, long awaited by the market.

• Black Rock Coffee Bar – Consumer retail growth story, reportedly aiming for a $1 billion+ valuation.

• Pattern Group (PTRN) – E-commerce accelerator with 35% revenue growth, filing for Nasdaq listing.

• WaterBridge Infrastructure – PE-backed water management and utility play, catering to demand for infrastructure exposure.

• Cerebras & Medline – Anticipated late-year entrants, representing AI chips and healthcare—two of the market’s most resilient themes.

The diversity of this slate—spanning crypto, cybersecurity, fintech, consumer retail, e-commerce, infrastructure, AI, and healthcare—underscores just how broad the Q4 window has become.

Looking Back: How Q4 Historically Delivers

History shows that post–Labor Day calendars are typically the heaviest of the year. In 2019, 2020, and 2021, fall stretches were stacked with marquee debuts that shaped market sentiment. Q4 2025 carries the same hallmarks: multiple billion-dollar deals across sectors, high growth stories, and a backlog of issuers that have waited through a prolonged drought. The difference this time is the sheer volume of pent-up supply—after a year and a half of delays, the window could burst wide open.

This Year’s Standout IPO Performers

Investor appetite has already been proven in 2025 by a string of blockbuster offerings:

• Circle – The breakout star, with shares soaring over 500–600% since its June IPO.

• CoreWeave – Up nearly 200% and, by some reports, quadrupling within three months as AI demand explodes.

• Figma – One of the year’s most spectacular debuts, surging more than 200% on opening day and sustaining gains.

• Chime – Jumped 59% on day one 

• Bullish (BLSH) – Crypto exchange that spiked as much as 218% post-listing.

• Firefly Aerospace (FLY) – Opened 56% above IPO price, closing up more than 34% on day one.

These results are not just one-offs—they are proof points that when quality companies meet receptive markets, gains can be substantial both on day one and over the long run.

IPO Prophet’s Take: It’s Go Time

Our message is clear: the IPO market is back, and the window is wide open. With blockbuster debuts already igniting investor enthusiasm, a flood of diverse, high-quality issuers lining up for Q4, and history on the side of post–Labor Day activity, we believe this will be one of the most dynamic IPO seasons in recent memory. For traders, investors, and market watchers alike, it’s go time—the action is about to accelerate, and IPO Prophet will be there to track every move.