Datto confirms news trailed earlier this year that it was seeking a listing with its S-1 filing to list on the NYSE under the ticker "MSP."
The filing doesn't include a share count and has the $100M offering placeholder, which means Datto wants to raise an amount in the lower half of the nine-figure range. Datto offers business continuity and disaster recovery, networking, and sync solutions for small and medium sized businesses. The solutions are delivered through a global network of managed service providers, the origin of the MSP ticker.
As of June 30, Datto had over 17,000 MSP partners and 1,000+ MSP partners contributing $100K+ ARR.
Financials: In 2019, revenue totaled $458.8m (90% recurring) and $474.7M ARR. The net loss was $31.2M and the adjusted EBITDA was positive $84.6M.
For H1 2020, Datto's revenue was $249.1m (94% recurring) with ARR of $506.7M. Net income totaled $10.1M and adjusted EBITDA was $63.9M.
