Utah contributed an outsized share of 2024 IPOs

• That amounted to 3.5% of all IPOs last year — more than triple Utah's share of the population.

How it works: That's based on the location of each company's HQ at the time of its public offering.

• Some companies incorporate elsewhere — often Delaware — for tax and legal reasons.

The big picture: There's been a rush of headline-grabbing IPOs this summer, with big day-one "pops" for offerings like crypto exchange operator Bullish and design software firm Figma.

Yes, but: Some of that energy has proven short-lived. Figma, for example, fell to $70.40 per share as of Aug. 25, down from $122 on Aug. 1 after its July 31 IPO. That's over a 40% dip.

• Still, its initial success suggests a new playbook for attention-getting summer offerings, Axios' Dan Primack writes.

What's next: Cloud security provider Netskope filed last month to go public, joining a crowded field of firms planning post-Labor Day offerings.

• "Netskope is losing money, but that's been true of most 2025 tech offerings (minus Figma)," per Primack.

The other side: The Lehi-based e-commerce firm Pattern Group recorded 35% revenue growth in 2025's first half over the same timeframe last year, with a net income of $46.5 million, per the company's IPO filing two weeks ago.