Initial public offerings (IPOs) have continued to decline in the second quarter of 2023. In total, 34 IPOs raised a combined total of $7.4 billion during Q2. After a large spike in IPOs during Q2 2021, second-quarter IPOs have continued to decline year over year. While Q2 2023 saw a decrease in the number of IPOs from the previous quarter, the total proceeds raised more than doubled from Q1. Similarly, Q2 2023 saw a 40% increase in the amount raised from IPOs compared to Q2 2022 despite total IPOs decreasing by 26%. 

In this article, Audit Analytics takes a closer look at the decline in IPOs during the second quarter of 2023.