CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Justworks releases details of upcoming $100m IPO

By Robert Davis

21:06, 16 December 2021

Woman putting wood cube block on top pyramid
Photo: Shutterstock

New York-based software company Justworks released details of its upcoming initial public offering (IPO), according to a prospectus filed with the Securities and Exchange Commission.

The company said is seeking to raise more than $100m (£75.09m) from the IPO but did not disclose the number of shares it will sell or the price.

Isaac Oates, the company’s chief executive, wrote in a letter to shareholders that Justworks exists to help its customers “realise their potential” and create more equitable access to entrepreneurial opportunities.

About Justworks

Justworks’ cloud-based software provides customers with solutions for their payroll, human resources operations, benefits and compliance needs.

The company says its clients are primarily entrepreneurs, though its target market is small-to-medium sized businesses with up to 100 employees.

As of 30 November, Justworks has recorded more than 8,000 customers across all 50 US states, representing more than 140,000 workforce employees.

Financial performance

For the fiscal year ending on 31 May, the company reported earning $982.7m in total revenue, representing 32% growth on an annualised basis.


0.61 Price
-0.610% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


2,036.34 Price
-0.410% 1D Chg, %
Long position overnight fee -0.0196%
Short position overnight fee 0.0114%
Overnight fee time 22:00 (UTC)
Spread 0.30


15,893.10 Price
-0.750% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8


37,816.25 Price
+0.070% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Justworks also reported gross profits of $106.1m compared to the $77.1m figure it totalled last year.

The company’s adjusted income from operations also grew significantly from $5.3m at the end of fiscal year 2020 to $17.8m in 2021.

Competitive market

Justworks said in its prospectus it plans to capitalise on several growing trends, including increased demand for self-resolution services in younger generations of workers and the expansion of the global digital workforce.

Self-resolution services allow customers to resolve complaints with a business without contacting a customer service line. Some examples include being able to rebalance a 401(k) account without having to call your bank.

Justworks also cited a study from MarketsandMarkets that found the payroll for the global digital workforce is expected to expand from $22.7bn in 2020 to $72bn in 2026. The company said its all-in-one platform will help companies “retain employees, mitigate risks, and adhere to regulatory requirements.”

Read more: Advanced Human Imaging (AHI) deflates 60% on debut

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading