Entrata Files S-1, Targets NYSE Under Ticker ENT
Entrata (Lehi, UT) has filed an S-1 with the SEC to list on the NYSE under ticker ENT, marking a major milestone for Utah's Silicon Slopes tech ecosystem.
Money
Lehi, Utah — June 1, 2026
Lehi-based Entrata filed its S-1 registration statement with the SEC on May 28, 2026, applying to list its Class A common stock on the New York Stock Exchange under the ticker symbol ENT. The filing marks the public debut of a process that began in December 2025, when the company submitted its first draft registration statement, followed by five amended drafts before the S-1 went public.
Entrata is not a typical IPO candidate. The company posted $509.3 million in 2025 revenue, up 24% year-over-year, with net income more than doubling to $50.7 million. Q1 2026 continued the trend: $143.5 million in revenue (up 23% YoY) and $23.3 million in net income. The platform serves more than 12 million residents across 35,000-plus multifamily communities worldwide, processes more than 4.5 billion system transactions per day, and has held net revenue retention at 117% for two consecutive years.
Entrata provides property management software and services to apartment communities and rental-housing operators — a market it calls the "Operating System" for the rental-property ecosystem. Its AI strategy has been built through acquisition as much as internal development. In July 2023, the company acquired Logan, Utah-based Rent Dynamics, adding financial tools for multifamily residents. In June 2024, it acquired Colleen AI, a Daytona Beach-based AI property management platform, using that technology as the foundation for ELI+ — its integrated suite for automating end-to-end property workflows including collections, renewals, and leasing. The company frames the goal as "Autonomous Property Management," with ELI+ enabling what it calls Conversational Context Switching, where a single AI interaction can move fluidly across multiple resident tasks using one unified data source. Its Homebody product handles resident engagement, retention, and loyalty.
The company's capital history is substantial. Silver Lake Group led a $507 million funding round in 2021 — still the largest single corporate investment round in Utah history — and retains majority control today. In May 2025, Blackstone made a $200 million minority investment valuing Entrata at $4.3 billion, with Blackstone Managing Director Brian Dunlap citing the platform's continued innovation across client and resident experience. Silver Lake will retain majority voting power post-IPO, qualifying Entrata as a "controlled company" under NYSE rules.
Goldman Sachs, J.P. Morgan, and Barclays are leading the offering. The initial S-1 does not disclose share count, price range, or expected proceeds — those details will follow in at least one amended filing before the company prices its shares.
For deeper analysis of Entrata's financials and IPO context, see my full breakdown at Utah Money Watch.
Learn more about Entrata at entrata.com
