The statement represents a reversal of Reid's comments a year ago which suggested a public offering was less likely because debt financing was cheaper at that point than the cost of an IPO. In May, Intacct has secured $40 million in financing through a new debt facility from Silicon Valley Bank.Reid said one thing that has forestalled an IPO is investor expectations. Where once a company could go public with $50 million in revenue an not be profitable, the street now wants $100 million and profitability. Reid said Intacct has shown four straight years of revenue growth of more than 40 percent.