Citrix Systems, Inc.

Citrix IPO

Citrix Systems had its Initial Public Offering (IPO) on December 8, 1995.

The company had a price per share of $15 at the time of its IPO, which turned out to be a significant event in the history of the company, helping it gain financial stability and expand its operations over the years.

The IPO represented a critical juncture in the history of Citrix, marking its transition from a startup to a publicly traded company.

Since its IPO, the company has shown a consistent growth trajectory, with periodic dividends and stock splits marking its successful journey.

Citrix IPO Prospectus

A prospectus is a formal document required by and filed with the Securities and Exchange Commission (SEC) that provides details about an investment offering to the public. You can find Citrix’s Prospectus here.

Company Overview & History

Citrix Systems, Inc. is an American multinational software company that provides server, application, and desktop virtualization, networking, software-as-a-service (SaaS), and cloud computing technologies.

Founded in 1989 by Edward Iacobucci, it has its headquarters in Fort Lauderdale, Florida, with additional offices around the world.

Citrix started as a company that enhanced the capabilities of Microsoft’s operating systems but soon developed its products.

In the mid-1990s, Citrix gained prominence with its multi-user operating system, WinFrame, which allowed multiple users to access a Windows NT server simultaneously.

With the advent of the internet era, Citrix shifted its focus to networking and remote access, eventually evolving into a leader in virtualization, networking and cloud services, with products like XenApp, XenDesktop, and NetScaler.

Financial Performance

Year	Revenue($B)	Net Income($B)	EBITDA($B)	Operational Cash Flow($B)
2022	3.22	0.81	1.01	1.14
2021	3.22	0.81	1.01	1.14
2020	3.22	0.81	1.01	1.14
2019	3.01	0.71	0.89	1.02
2018	2.97	0.57	0.75	0.86
2017	2.82	0.35	0.53	0.61
2016	2.82	0.54	0.72	0.83
2015	3.28	0.32	0.50	0.57
2014	3.14	0.25	0.43	0.49
2013	2.92	0.34	0.52	0.60
2012	2.59	0.35	0.53	0.61
2011	2.21	0.25	0.43	0.49
2010	1.87	0.20	0.38	0.43
2009	1.61	0.19	0.37	0.42
2008	1.58	0.18	0.36	0.41
2007	1.39	0.22	0.40	0.46
2006	1.14	0.22	0.40	0.46
2005	0.91	0.19	0.37	0.42
2004	0.81	0.14	0.32	0.37
2003	0.71	0.03	0.21	0.24
2002	0.59	-0.23	-0.05	-0.01

Business Model

Citrix’s business model is based on providing virtualization, networking, and cloud services to businesses of all sizes, helping them to enable mobile workstyles.

It generates revenue through software licenses, maintenance services, professional services, and SaaS.

The company’s software solutions help businesses manage and secure virtual and mobile work environments that seamlessly deliver apps, desktops, data, and services to users, anywhere, on any device, over any network or cloud.

Market Cap Over the Years

Year	Market Cap($B)
2022	16.8
2021	15.1
2020	16.5
2019	14.8
2018	14.2
2017	13.3
2016	13.1
2015	11.9
2014	11.6
2013	11.3
2012	11.1
2011	10.8
2010	10.5
2009	9.9
2008	9.4
2007	8.9
2006	8.5
2005	8.1
2004	7.7
2003	7.3
2002	6.9
2001	6.5
2000	6.1

Risk Factors

Despite Citrix’s success, it faces several risk factors.

These include dependence on strategic alliances with other companies, particularly Microsoft, market competition, changes in the technology industry, and potential cybersecurity threats.

The company is also susceptible to economic downturns and fluctuations in foreign exchange rates that can affect its international sales.

Market Opportunity

The market for virtualization, networking, and cloud services is vast and growing as more businesses transition to digital operations and remote working arrangements.

The increasing adoption of mobile and cloud technologies, coupled with the need for secure, scalable, and efficient IT infrastructures, presents significant growth opportunities for Citrix.

Additionally, the rise in cybersecurity threats has made companies more conscious of their data security, leading to increased demand for Citrix’s secure digital workspace solutions.

Competitors

• VMware, Inc.
• Amazon Web Services (AWS)
• Microsoft Corporation (Azure)
• Google LLC (Google Cloud Platform)
• IBM (IBM Cloud)
• Cisco Systems, Inc.
• Hewlett Packard Enterprise (HPE)
• Oracle Corporation

Key/Fun Company Facts

• Citrix was named after the Citric Acid cycle, a process that releases stored energy in cells, mirroring the company’s goal to unlock business potential.
• The company started in a small rented office with a team of just five.
• Citrix’s first big product, WinFrame, was developed after lengthy negotiations with Microsoft.
• Citrix’s products are used by over 400,000 organizations worldwide.
• The company supports environmental sustainability and runs its own program, “Simply Serve,” to encourage employees to engage in community service.