Investors are pouring money into initial public offerings like it’s 2021, with this season alone unleashing several new tickers, including FIG , BLSH , and soon, STUB . For some, the surge is a welcome sign of renewed optimism after tariff-related chaos in the spring threatened a promised IPO revival.

But an analysis of recent IPO-related filings shows that women leaders are largely missing from the boards and executive teams at the vast majority of new public companies, despite years of calls for more diversity in corporate leadership. The data may even be an early signal of future losses for executive women, as DEI, already facing a backlash , is abandoned or sidelined, especially in the tech industry.

Damion Rallis, cofounder of board data firm Free Float Analytics , combe

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