SOLV Energy IPO: revenue, profit and offering terms from its S-1
SOLV Energy priced its IPO at $25 a share on 11 Feb 2026 and raised $513 million. Its shares trade on Nasdaq as MWH. Revenue was $2.3 billion in 2024, up 25% from 2023, with a net loss of $122 million.
Headlines
- Revenue, 2024
- $2.3B
- Up 25% on the year before
- Net loss, 2024
- $122M
- Revenue, First nine months of 2025
- $1.7B
- Up 21% on a year earlier
- IPO price
- $25
- $513M raised
SOLV Energy IPO terms
From the final prospectus (424B4).
- Exchange
- Nasdaq Global Select Market
- Ticker
- MWH
- IPO price
- $25
- Shares offered
- 20,500,000
- Raised
- $513M
- Registered
- $609M, the amount the filing fee is paid on
- Underwriters
- Jefferies and J.P. Morgan
- First filed
- 16 Jan 2026
SOLV Energy revenue and profit
| Period | Revenue | Operating income | Net income |
|---|---|---|---|
| 2023 | $1.8B | - | -$110M |
| 2024 | $2.3B | -$82M | -$122M |
| First nine months of 2024 | $1.4B | - | - |
| First nine months of 2025 | $1.7B | $150M | $114M |
SOLV Energy share structure and company facts
- Share classes and votes
- Class A: 1 vote, Class B: 1 vote
- Employees
- 2,300
- Headquarters
- San Diego, California
SOLV Energy shares since the IPO
Latest close 26 Oct 2026
- IPO price
- $25
- Priced 11 Feb 2026
- First close
- $30.91
- +24% on the IPO price
- Latest close
- $22.03
- -12% on the IPO price
SOLV Energy's IPO filings
The registration statement, each amendment and the final prospectus, oldest first.
About the data
- Terms and financials are read from SOLV Energy's newest prospectus (424B4 filed 11 Feb 2026) by a Kadoa workflow. Check figures that matter against the filing.
- Registered is the amount the filing fee is paid on, often a placeholder before the price range is set.
- Raised is the IPO price times the shares sold, without the underwriters' option. Trading compares the first and latest close with the IPO price.