Rokt, the Australian e-commerce technology giant valued at $7.2 billion, has paused its plans for an initial public offering previously anticipated for 2026.
CEO Bruce Buchanan informed investors and staff on Wednesday that the company will sidestep the public markets for the next 12 months, citing significant instability as investors struggle to distinguish between "AI winners and losers."
The Sydney-founded company, which specializes in AI-powered "transaction moment" advertising, had recently intensified preparations for a potential dual listing on the ASX and Nasdaq.
Despite engaging with major North American and domestic funds through Morgan Stanley, management determined that a listing in the current climate would be a distraction.
President Terry Bowen noted that even minor AI-related announcements from competitors can currently trigger 30% share price swings, creating an unfavorable environment for a stable debut.
Rokt remains in a position of strength, making the delay a strategic choice rather than a necessity.
The company is profitable, carries no debt, and holds US$150 million in cash. Furthermore, previous secondary share sales have already provided liquidity for early employees and long-term backers like Square Peg Capital and AustralianSuper.
The company plans to focus the remainder of 2026 on accelerating international growth and deepening its AI product suite before reassessing its liquidity options.