Armis IPO: how to trade Armis shares

Create an account  Open a demo account

When is the Armis IPO date?

While there is no confirmed Armis IPO date, Armis has been considering an initial public offering (IPO) for years (source: Armis.com press materials), going back to when Insight Partners and Google’s CapitalG invested at a valuation of around $2bn.

By late 2023, however, the broader IPO market slowdown caused Armis to bide its time. For now, the company may be focused on scaling revenue and could pursue an IPO when conditions are favourable.

Current expectations

• Analysts point to 2026 as the most likely Armis IPO date window (source: Bloomberg), but there is no Armis listing date currently on the horizon.
   
• Reports indicate Armis is preparing its financial systems for public-company readiness, with ARR milestones of >$200m (Aug 2024) and >$300m (Aug 2025).
   
• Backers Insight Partners, CapitalG, and Brookfield Technology Partners are expected to seek liquidity via a float.

Why go public?

• Liquidity for investors and employees: after years of private funding, a listing allows shareholders to realise gains.
   
• Sales credibility: public company status boosts procurement confidence in critical infrastructure sectors.
   
• Acquisition currency: IPO stock can be used for bolt-on acquisitions.
   
• Strategic timing: with cybersecurity spend growing double digits annually, the sector remains attractive to public investors.

No S-1 has yet been filed, but Armis could pursue a US listing depending on revenue momentum and cybersecurity IPO sentiment.

What is Armis?

Armis is a cybersecurity company specialising in asset intelligence and security for connected devices, particularly within the Internet of Things (IoT), operational technology (OT), medical devices, and cloud environments. Founded in 2015, the company has grown rapidly by offering solutions that give enterprises complete visibility and real-time protection across their entire digital ecosystem.

Armis positions itself at the forefront of cybersecurity by tackling one of the most pressing challenges in the modern IT environment: the explosion of unmanaged and IoT devices. Unlike traditional security tools that focus only on managed endpoints, Armis provides agentless, passive monitoring, making it particularly valuable for industries such as healthcare, manufacturing, energy, and government.

The platform continuously discovers devices, assesses risks, and enforces security policies without disrupting business operations. This strategic niche has helped Armis secure a strong foothold in sectors where uptime and device reliability are critical, while also appealing to enterprises undergoing digital transformation.

Why Armis matters

As businesses adopt connected devices, industrial IoT, and operational technology (OT) systems, they face a surge in attack surfaces. Legacy antivirus and endpoint detection can’t cover unmanaged assets like medical devices, HVAC controllers, factory robots, or smart sensors. Armis was built to give visibility and control over these assets.

Product suite

• Asset intelligence platform: Provides real-time discovery of all devices across IT, OT, IoT, and medical environments.
   
• Risk management: identifies vulnerabilities and ranks them by exploitability and business impact.
   
• Threat detection & response: alerts security teams to anomalous behaviour.
   
• Integrations: works with SIEM, SOAR, and endpoint platforms from Splunk, Palo Alto Networks, and Microsoft.

Customers

Armis serves hundreds of enterprises and governments, including Global 2000 companies in healthcare, energy, manufacturing, and retail. Examples cited include the U.S. Department of Defense and Fortune 100 manufacturers.

Milestones

• 2015 – Founded in Tel Aviv.
   
• 2019 – Raises $65m in Series C led by Sequoia; valuation passes $1bn.
   
• 2020 – Acquired by Insight Partners for ~$1bn.
   
• 2021 – Raises $125m led by Brookfield Technology Partners at $2bn valuation.
   
• 2022 – Valuation climbs toward $3.4bn.
   
• 2023 – Expands platform with medical device security focus.
   
• 2025 – Armis IPO speculation resurfaces, targeting a potential $4-5bn valuation.

Armis’s key features

• Device visibility: maps every device on a network, managed or unmanaged.
   
• Agentless approach: no software agent required on endpoints.
   
• Industrial/IoT focus: protects OT, SCADA, and connected devices in critical infrastructure.
   
• Cloud scale: SaaS platform with integrations across leading ecosystems.
   
• Global footprint: HQ in Palo Alto, R&D in Tel Aviv, customers worldwide.

How does Armis make money?

Armis is a subscription-based SaaS business and its revenue stream is composed of the following:

What might influence the Armis live stock price?

The Armis stock price post-IPO will hinge on both external cybersecurity market sentiment and company execution.

Macroeconomic and sector trends

Cybersecurity budgets have proven resilient even during downturns, driven by rising ransomware, nation-state threats, and compliance mandates. However, SaaS valuations remain more disciplined than in 2021. If IPOs from peers like Wiz or Rubrik perform strongly, Armis could benefit from positive sentiment. Conversely, if broader equity markets sell off or enterprise IT spending slows, appetite for new cybersecurity listings could weaken, particularly for companies still scaling toward profitability.

Company fundamentals

Investors will scrutinise annual recurring revenue (ARR), net revenue retention (NRR), and gross margins. Armis’s appeal is in high growth rates – reportedly 50%+ annually – but markets now require a path to profitability. Showing expanding margins and efficient customer acquisition will be critical. Evidence of strong renewal rates in regulated industries, alongside disciplined expense management, could reassure investors that growth is sustainable without excessive cash burn.

Competitive landscape

Armis faces rivals like Forescout (also focused on IoT/OT security), Palo Alto Networks (Prisma/OT integrations), Claroty, and Microsoft. Its differentiation is agentless architecture and strong presence in OT/IoT-heavy sectors. Maintaining that edge will influence its multiple. If competitors increase investment in OT/IoT coverage or undercut on pricing, Armis may find it harder to justify a premium valuation. Market share shifts or proof of customer wins against larger incumbents will therefore be closely watched.

Product innovation

Success in adjacent categories like healthcare/medical device security and AI-driven threat analytics will boost investor confidence. Falling behind peers in AI integration could weigh on sentiment. Demonstrating that its platform can expand into broader attack-surface management or automated remediation would strengthen its positioning as a multi-category leader, not just a niche IoT/OT player.

Governance and disclosure

Transitioning from private to public will require Armis to adopt rigorous reporting. Investors will assess management’s experience in public-company operations and how Insight Partners and CapitalG manage share sales. Transparent disclosures on customer concentration, revenue mix, and long-term margin targets will also be critical for establishing credibility with public-market investors.

Investor sentiment

A strong anchor book with cybersecurity-specialist funds would support IPO stability. Heavy secondary sales by existing investors could create pressure. Clear communication of long-term strategy and visibility into ARR growth targets could help sustain interest after the IPO pop.

Valuation scenarios

If Armis demonstrates $500m ARR with margins trending higher, a $4-5bn valuation is feasible. Lower growth or persistent cash burn could compress valuation closer to $3bn. Strong peer multiples or an improving IPO window for cybersecurity companies could provide upside, while a crowded pipeline of listings may weigh on appetite.

How to trade Armis shares via CFDs

When it comes to how to buy the Armis IPO, contracts for difference (CFDs) will allow traders to speculate on the stock price without owning shares outright.

Steps

• Step 1Open a Capital.com account (subject to ID verification and suitability assessment).
• Step 2After approval, deposit funds securely.
• Step 3Monitor IPO details: filing, roadshow demand, price range, anchor investors.
• Step 4Trade long if you expect cybersecurity enthusiasm to drive gains; short if you anticipate valuation pressure. Consider using stop-losses and risk management.

IPOs can be volatile, especially in the early days of trading. CFDs let you act on price swings in either direction, but always apply risk management. CFDs are traded on margin, and leverage higher than 1:1 magnifies potential losses and gains. Past performance is not a reliable indicator of future results.

Learn more about contracts for difference in our CFDs trading guide.

*Standard stop-losses are not guaranteed. Guaranteed stop-losses incur a fee when activated.

Which cybersecurity stocks can I trade?

Until the Armis launch date, traders can consider these industry peers:

• CrowdStrike (CRWD) – endpoint and cloud security leader.
   
• SentinelOne (S) – AI-powered endpoint detection.
   
• Palo Alto Networks (PANW) – diversified cybersecurity vendor.
   
• Fortinet (FTNT) – network security specialist.
   
• Check Point (CHKP) – firewall and network defence veteran.

These act as benchmarks for sector valuations and growth.

FAQs