There’s another small tech IPO and we’re really just waiting for Blue Apron

We have another filing for a tech IPO today, this one from a company called CompuLab coming in amid a continued flurry of IPOs.

But, really, the story here is just that — it’s just another small tech IPO amid a flurry of filings. Snap started off the year with a bang, rattling off a highly successful IPO (though its continued performance is not so great) and opening up the so-called IPO “window.” That opened the door for other companies like Yext and Okta to go public amid a bunch of others. The biggest one on the radar, however, is now Blue Apron.

CompuLab’s IPO today is really emblematic of the push to become public and get that big liquidation and financing round going. Looking at its financials, the company that makes “fan-less” computers showed decreasing revenue year-over-year in 2016, though it did post a profit. This is likely going to get a lot of mixed reviews as Wall Street loves growth, but it really likes a company that makes money too. In 2015, CompuLab brought in $27.8 million in revenue, while it brought in around $22 million. In 2016, however, it brought in a net income of $1.4 million.

So, back to Blue Apron. Speaking of functional companies, Blue Apron filed to go public earlier this year, showing a recent quarter of rather incredible losses. But in the first quarter last year, it was also profitable, bringing in $3 million. Blue Apron is largely considered a consumer IPO, though it involves a complex web of logistics and fulfillment processes. Following Snap’s declining stock price, it’ll be up to Blue Apron to really determine the future of the IPO window in the back half of the year.

But the kinds of IPOs happening ahead of Blue Apron have a sometimes weird array of products. Gunshot detection startup also went public, and the IPO was also wildly successful with a 26% pop. But that’s another example of companies trying to get into public markets now that the appetite is there.

CompuLab’s kinds of mini PCs may become increasingly important as more and more computing gets distributed. Oddly it doesn’t appear that this company is breaking out its most recent quarters, but it’ll be a wait and see for now. Some of these companies are ancient, with CompuLab starting in 1992.

So, in the next couple weeks we should see more details about this one, but it’s going to be another blip on the radar as all eyes look toward Blue Apron.