Fleet management firm Motive Technologies reveals revenue growth in US IPO paperwork
A view shows the New York Stock Exchange (NYSE) Wall Street entrance in New York City, U.S., April 7, 2025. REUTERS/Kylie Cooper
Dec 23 : AI-powered fleet management company Motive Technologies on Tuesday disclosed a rise in nine-month revenue in its U.S. initial public offering filing, as firms eye listings early next year.
The San Francisco, California-based company reported a net loss of $138.5 million on $327.3 million revenue for the nine-month period ended September 30, compared with a loss of $113.9 million on $268.9 million revenue in the same period a year earlier.
The offering comes as issuers look to list early next year after the holiday season, seeking to take advantage of receptive market conditions, with fuel distributor ARKO Petroleum and construction technology firm EquipmentShare.com among recent IPO filers.
Motive Technologies will list on the NYSE under the "MTVE" symbol.
The U.S. IPO market has regained momentum in 2025 but expectations of a stronger rebound were curbed by tariff-driven volatility, a prolonged government shutdown and a late-year selloff in AI stocks.
Motive, founded in 2013, provides AI-powered tools to manage fleets and operations, helping customers improve safety, manage vehicles and equipment, track spending and automate workforce and compliance tasks across industries including logistics, construction, energy and manufacturing.
Halliburton, KONE, Komatsu, NBCUniversal and Maersk are among its clients.
J.P. Morgan, Citigroup, Jefferies and Barclays are among the underwriters for the offering.
