Strava is gearing up for a U.S. initial public offering, with the San Francisco-based social fitness platform said to have invited Goldman Sachs, JPMorgan and Morgan Stanley to pitch for roles, according to a report.

Reuters reported that a listing could come as early as 2026, but the publication noted that market conditions will determine the timing and Strava has yet to finalize how much it will raise or the valuation it will target.

The move comes just months after Strava closed a fundraising round valuing the platform at $2.2 billion, including debt. The company has also been aggressively expanding its ecosystem through acquisitions.

In May, Strava acquired the cycling training app The Breakaway, just weeks after picking up Runna, a run-focused training app born in the U.K.

The rumored IPO plans also follow two key leadership hires that the fitness app said are meant to prepare Strava for its next stage of growth. In August, the company named Matt Anderson as chief financial officer and Louisa Wee as chief marketing officer. Notably, Anderson previously served as CFO at Nextdoor, where he helped guide the company through its public listing, and earlier led corporate finance and strategy at Block (formerly Square) during its 2015 IPO.

For its part, Strava-owned Runna has rolled out Races by Runna, a new app designed to simplify race discovery amid a surge in organized events. Strava reported a nearly 70% increase in unique races in 2024 compared with the prior year. The app lets users filter events by distance, terrain, location, or even tags such as “dog-friendly,” syncing selections directly with a personalized training plan.

Strava, which now counts over 150 million athletes across 185 countries, has also been investing heavily in product features, from AI-powered route recommendations and tappable Points of Interest to new performance tools like expanded Live Segments.

Strava didn’t immediately respond to a request for comment.