Silver Lake-backed Entrata reveals 23% revenue jump in U.S. IPO filing

An NYSE logo and stock price indications on the trading floor of the New York Stock Exchange are shown in this image, Tuesday, July 1, 2025. (AP Photo/Richard Drew)

Property management software company Entrata filed for a U.S. initial public offering on Thursday, revealing a 23 per cent revenue surge in the first three months of 2026, as issuers line up to tap the summer IPO window.

The Lehi, Utah-based company reported a net income of US$23.3 million on revenue of US$143.5 million in the three months ended March 31, compared with net income of US$13.9 million on revenue of US$116.6 million a year earlier.

The summer window for IPOs is shaping up to be busy as ebullient markets and pent-up demand for new listings encourage more issuers.

• Latest updates on company news here

Aerospace parts maker Doncasters, Chinese software maker DSC and cardiovascular drug developer Kardigan filed for IPOs this week.

Entrata’s platform lets property managers and residents handle tasks such as tracking work orders, managing finances and processing online payments. The company was founded in 2003.

Entrata, whose major backers include investment firms Silver Lake, TPP Capital Advisors, and Dragoneer Investment Group, focuses on the U.S. multifamily housing sector and has served 2.5 million units as of March 31.

• Latest updates on investing here

Its customers include real estate firms Greystar, AIR Communities, Independence Realty Trust and Landmark Properties.

In 2025, Entrata had secured a US$200 million minority investment from alternative asset manager Blackstone at a US$4.3 billion valuation.

Goldman Sachs, JPMorgan and Barclays are among the underwriters for the offering. Entrata will list on the New York Stock Exchange under the symbol “ENT”.

---

Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Sahal Muhammed