Saba Software (ticker:SABA) managed to squeak its IPO out the door back April 2000. Right as the stock markets were going Ka-Blooey. It doubled the first day. And since? Well, on one hand, the company exists. And that’s more than many from that era can say.
On the other hand, there’s this grim assessment from its list of risk factors contained in the 10-Q filed on Wednesday:
“Except for one quarter, we have not been profitable and we may not again achieve profitability. We cannot be certain that we will realize sufficient revenues to achieve or sustain profitability, especially if our recurring OnDemand business grows faster than expected relative to license sales.”
The Redwood Shores company makes employee productivity software, and has been trying to shift from selling software, to a hybrid that includes an OnDemand product.
From its split-adjusted peak of $155.25 in August 2000, the company closed at $4.35 on Thursday.