Several companies planning U.S. initial public offerings in 2026 have reduced the size of their deals or pushed back listing dates amid renewed market turbulence and increased investor caution toward lofty valuations. Market observers warn that a recent slide in software stocks has highlighted valuation risks, prompting issuers to reassess timing and pricing for public debuts.
Analysts at Goldman Sachs earlier in the month projected that the total number of IPOs could rise to 120 this year. At the same time, those analysts pointed to the selloff in software shares as evidence that valuations are vulnerable, creating a backdrop of uncertainty for companies aiming to debut on public markets.
The following profiles outline some of the issuers that scaled back or delayed their planned U.S. listings in 2026.
CLEAR STREET
Clear Street, a New York-based Wall Street broker, postponed its U.S. IPO on Thursday, citing market conditions. The delay marks the company's second postponement this month amid fresh market volatility. Earlier the same day, the firm had cut its IPO fundraising target by 65% and said it would revisit the listing at a later time.
AGIBANK
Brazilian fintech Agibank sharply reduced both the size of its proposed U.S. IPO and the price range before completing a downsized offering. The Sao Paulo-based lender raised $240 million by selling 20 million shares at $12 per share, after previously proposing roughly 43.6 million shares priced between $15 and $18. The stock, which made its market debut on Wednesday, was trading nearly 15% below the offer price as of Thursday's close.
LIFTOFF MOBILE
Liftoff Mobile, a mobile app marketing company backed by Blackstone, decided last week to postpone its planned New York listing. Company officials pointed to current market conditions and the steep selloff in software stocks as the rationale for delaying the IPO, and said they intend to revisit the timing at a later date.
Issuers cited the same set of pressures - volatile markets, scrutiny of aggressive pricing and concerns about high valuations - when adjusting their IPO plans. These developments illustrate how market sentiment and peer performance can influence the timing and scale of public market access for companies in 2026.
Key takeaways:
- Several planned U.S. IPOs in 2026 have been reduced in size or postponed amid market volatility and valuation concerns.
- Analysts expect IPO activity to rise this year but warn that software sector selloffs have exposed valuation risks, affecting issuer decisions.
- Affected issuers include a Wall Street broker, a Brazilian fintech and a Blackstone-backed mobile app marketer.
Impacted sectors: Financial services, fintech and software/technology - each facing pricing and timing pressure for public listings.