Canva was valued at US$3.2 billion ($5.23 billion) last year when it received a new injection of funding and the company has continued to grow with 20 million active monthly users. Canva has not publicly declared plans for an IPO but its eventual listing would be the most eagerly anticipated float of an Austalian tech business since Atlassian.
Software stocks have been hit hard in the broader market collapse triggered by coronavirus fears. AirTree Ventures partner Craig Blair,who has backed Canva in multiple funding rounds,said that while"times are very uncertain"Canva remains well positioned.
"When it comes to an IPO frankly Canva is in charge of its own destiny,it can do whatever it wants there,"he said."The fundamentals of the business are strong and it's in a stronger position than the incumbents."
The figures filed with ASIC are just for Canva's local business indicating the importance of global revenue to the technology company. A spokesperson for Canva previously stated in October last year that it was on track to generate $291 million in annualised revenue.
Canva recorded a loss of $4.1 million for 2018,ASIC accounts show,however its directors'report noted the company maintained underlying profitability with an adjusted earnings before interest,depreciation and tax of $1.3 million for the year after adjusting for non cash items relating to shore based payments expenses and foreign exchange.
Canva's accounts also reveal it paid $22 million tobuy free stock photography sites Pexels and Pixabay,acquistions which it used to launch Photos Unlimited,Canva's"Netflix-style"subscription model for paid stock photography.