IPO financials have always been public. They were never usable.

Every S-1, every prospectus, every KID contains exactly the numbers an analyst needs: revenue, EBITDA, total assets, cash flow from operations. The information is out there, sitting in a 300 page PDF, weeks before the first trade. And yet almost nobody has it in a form a machine can read.

We just turned the prospectus into three endpoints.

What is a Pre-IPO financial data API?

A Pre-IPO API is an interface that gives developers structured access to the financial reality of a company before it has a ticker.

Public market APIs start at the listing. The first quote arrives, the first candle prints, and only then does the data pipeline wake up. But the information does not start at the listing. It starts with the confidential filing, months earlier, and it becomes public with the S-1 or the EU retail prospectus.

Bavest closes that gap. The same API that serves quotes, fundamentals and ETF holdings for listed securities now serves offering summaries, milestones and full financial statements for companies that have not listed yet. One integration, one auth mechanism, one data model, both sides of the listing date.

What data does a Pre-IPO endpoint return?

Three endpoints, one object model.

1. IPO Hot returns the curated list of hot IPO offerings, each with an offering summary and a headline financials snapshot for the latest full year period. Ordered by implied valuation descending, then public filing date descending. Filter by symbol, status, or a from/to public filing date range. Offset and cursor pagination are both supported.

curl --request GET \
  --url 'https://api.bavest.co/v2/ipo/hot?limit=100' \
  --header 'Accept: application/json' \
  --header 'x-api-key: ****'

{
  "data": [
    {
      "symbol": "SPCX",
      "name": "Space Exploration Technologies Corp.",
      "exchange": 12,
      "regulator": "SEC",
      "filingType": "S-1",
      "status": "Expected",
      "priceType": null,
      "priceLow": null,
      "priceHigh": null,
      "currency": "USD",
      "numberOfShares": null,
      "grossProceeds": null,
      "impliedValuation": null,
      "confidentialFilingDate": "2026-04-01",
      "publicFilingDate": "2026-05-20",
      "expectedListingDate": "2026-06-12",
      "financialsSnapshot": {
        "period": "FY2025",
        "revenue": null,
        "ebitdaAdjusted": null,
        "netIncome": null,
        "revenueYoY": null
      }
    }
  ],
  "meta": { "page": 1, "pageSize": 5, "totalResult": 1 }
}

2. IPO Profile returns the full profile for a single IPO: the offering summary plus nested milestones, statement grouped financials and the document catalog. Identify the IPO by symbol or isin. Financials come from the curated hot IPO financials and are grouped per statement. Every metric carries its fiscal year, fiscal period, unit, currency, source and a valid flag.

{
  "data": {
    "symbol": "SPCX",
    "name": "Space Exploration Technologies Corp.",
    "regulator": "SEC",
    "filingType": "S-1",
    "status": "Expected",
    "milestones": [
      {
        "stage": "listing",
        "label": "Day of IPO",
        "expectedDate": "2026-06-12",
        "source": "S-1"
      }
    ],
    "financials": {
      "incomeStatement": [
        {
          "metric_name": "revenue",
          "value": 18674000000,
          "value_type": "currency",
          "currency": "USD",
          "unit": "USD",
          "fiscal_year": 2025,
          "fiscal_period": "FY",
          "period_end_date": "2025-12-31",
          "source": "SpaceX EU retail prospectus summary",
          "valid": true
        }
      ],
      "balanceSheet": [ ... ],
      "cashFlow": [ ... ]
    }
  }
}

3. IPO Documents returns the document catalog for a single IPO: prospectus, SEC filings and more. The paper trail stays one call away, so you can always jump from a number back to the page it came from.

Note two things in that payload. First, source and valid travel with every single metric. You know which document a number came from and whether our pipeline considers it clean. Second, null means null. An expected IPO that has not priced yet has no priceLow. We return that honestly instead of inventing a placeholder.

Why the prospectus is not a data source

In theory the S-1 is the data source. In practice it is a wall.

1. Format: A prospectus is a PDF written for lawyers and regulators, not for parsers. Tables break across pages, footnotes redefine line items, and the same metric appears under three different labels.
2. Fragmentation: SEC filings, EU retail prospectuses, exchange notices and IR pages all describe the same offering with different vocabulary and different granularity.
3. Timing: The window between public filing and first trade is often a few weeks. By the time a manual extraction is finished and reviewed, the moment it was built for has passed.
4. Revisions: Prices get set, ranges get narrowed, listings get postponed. A spreadsheet built on Monday is stale by Thursday.
5. Coverage economics: Building this once for a marquee name is doable. Building it for every offering, every quarter, in every jurisdiction, is a data team you probably do not want to hire.

The result is predictable. Most platforms show a name, a date and a rumored valuation. The financials wait for the first earnings call, six months after the listing, when the interesting part is long over.

Use cases

1. Brokers and neobrokers: Give users a real company page before the ticker exists. Revenue, margins, balance sheet, expected listing date, all rendered from one call instead of a scraped press summary.
2. Wealth and advisory platforms: Put the offering in context. An implied valuation only means something next to the revenue it is priced against.
3. Asset managers and analysts: Model the offering before allocation decisions are due. Statement grouped financials drop straight into an existing valuation sheet.
4. Media and IR pages: Publish structured, sourced numbers instead of recycled headlines, with the document catalog as the receipt.
5. AI agents and copilots: A valid flag and a source field per metric are what turn an LLM answer from a guess into a citation. Our MCP Server exposes the same endpoints, so an agent can query the pipeline directly.
6. Screening and alerting: Filter the hot list by status or public filing date range, and let cursor pagination walk the full pipeline on a schedule.

What to look for in a Pre-IPO data provider

1. Time to queryable: How long from a new filing to a structured record? At Bavest the target is under 24 hours.
2. Lineage: Can you trace every number back to the document it came from? If not, you cannot defend it in front of a regulator, a client or a portfolio committee.
3. Validity, not vibes: A provider should tell you when a metric is uncertain instead of quietly rounding it into confidence.
4. Continuity across the listing date: Data that changes shape on IPO day forces a second integration. The private history and the public history should live in the same schema.
5. Coverage depth: A name and a date are not coverage. Income statement, balance sheet and cash flow are.
6. Delivery: REST, JSON, an API key. No terminal seat, no clunky UI, no CSV mailed on request.

How Bavest solves this

Our AI pipeline continuously scans regulatory filings and prospectuses, secondary market transactions, product and market signals, and global news. Everything is parsed, priced, scored and streamed into the same clean datasets that already power our public market coverage.

Typically 1 to 12 months of structured history is available before the IPO, with 30 or more metrics per private company, and under 24 hours from a new filing to a queryable API.

What that means in practice:

• Full profile, income statement, balance sheet, cash flow, all structured and machine readable
• Available before the first trade, not six months after it
• Every metric carries its fiscal period, unit, currency, source and validity flag
• One API for public and private markets, so listing day is not a migration project
• Also available through the Bavest MCP Server for agent based workflows

When the banner drops on the exchange floor, you already have the data. That is the whole point.

Get access

Whether you are a broker, an asset manager, a fintech or a media platform, Pre-IPO coverage is the part of the story your users are already asking about and nobody is answering with real numbers.

Read more about our new offering and try it out: https://ipo.bavest.co

Explore the API: https://docs.bavest.co/reference/ipohot

Or talk to us directly and we will walk you through the coverage for the names you care about.

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