Motive Technologies IPO filing reveals strong revenue growth

Motive Technologies, Inc. has applied to list its common stock on the New York Stock Exchange (NYSE) under the ticker symbol MTVE. In a recent SEC filing, the fleet management company disclosed a double-digit growth in its nine-month revenue. The group of bookrunners managing the offering is led by JPMorgan, Citigroup, Barclays, and Jefferies. The management is yet to reveal details like the size of the initial public offering and the estimated offer price.

To List on NYSE

The main purpose of the offering is to obtain additional capital for enhancing Motive’s financial flexibility. The proceeds from the offering will be used mainly for working capital and other general corporate purposes, including product development and general/administrative matters. A portion of the amount will be used for acquisitions and to obtain technologies and solutions.

For the nine months ended September 31, 2025, Motive reported revenues of $327.3 million, which is up 22% from $268.9 million reported in the corresponding period of 2024. The company incurred a loss of $138.5 million in the first half, compared to $113.9 million in the prior-year period. Total operating expenses were $309.5 million in the nine-month period, compared to $269.7 million a year earlier.

Motive’s CEO, Shoaib Makani, said in an official statement, “…Twelve years on, the Motive platform solves a wider range of problems than we could have imagined earlier, from driver safety and fleet management to equipment monitoring, workforce management, and spend management. For the first time, organizations can manage their workforce, vehicles, equipment, and spend – all in one system. The result for our customers is complete visibility across their operations with no data silos.”

The Business

Motive was founded in 2013 by Shoaib Makani, Ryan Johns, and Obaid Khan. The company provides an AI-powered platform for businesses in the physical economy, such as trucking and construction, to manage vehicles, equipment, and operations via integrated hardware and software. The focus is on ensuring safety, efficiency, compliance, and profitability, with tools for fleet management, and asset tracking.