Shares of the France-based software vendor called Talend (NASDAQ:TLND) debuted for trading on Friday. The stock opened for trading at $27.66, vastly above the $18 per share pricing that was set on Thursday night. Closing at $25.50, shares were up more than 40% in its first day of trading.
The company priced above its expected range of $15 to $17, showing investor demand was high. The extra 53% opening-price pop showed that demand clearly remain strong going into the weekend.
Talend is a technology company that provides a software platform that integrates applications and data across big data, cloud and traditional business systems, so that businesses can have a more unified view of their customers and their business. Talend reports that its customer base is global, including multinational corporations such as General Electric, Allianz, Siemens, Lenovo and Citi. Its platform is offered to its customers as a subscription based on the number of users the customers have.
Talend reports that it had $76 million of total revenues for the year that ended on Dec. 31, 2015. Of that amount, $62.7 million was from subscription revenues, which grew by 27 percent year-over-year. The company reported it had $22 million in net losses for 2015. For the three-month period that ended on March 31, 2016, Talend reports that it had $22.8 million in total revenues, of which $19.3 million was subscription revenues. The company had a net loss of $5.3 million for that quarter.
