SimplyCast, the Dartmouth multi-channel marketing company, released a statement on its third-quarter results this week, basically showing that its business doubled from the summer of 2014 to the summer of 2015.

But the fact that the company has been releasing quarterly statements is more interesting than what the statement said. When startups begin to release quarterly statements, it’s usually an indication that they are preparing their organizations for the public markets.

When I asked SimplyCast CEO Saeed El-Darahali whether I’m right to assume this is a sign the company is preparing for a public listing, he gave a positive response.

“You are absolutely correct,” El-Darahali replied by email. “We are in the process of training our staff to get ready for reporting structure that will be required when we make a decision to go that route.”

SimplyCast Launches 'Game-Changer'

Just to be clear, SimplyCast is not announcing an initial public offering or anything close to it. It is simply imposing on its staff the disciplines that come with a public listing. The best practice when preparing to list practice is to start operating as if you’re already listed, in terms of governance, reporting, and structure.

For example, Hootsuite Media Inc., the Vancouver-based social media analytics company widely expected to announce an IPO before too long, has been releasing quarterly statements for a few years.

El-Dalahari referred me to an article I wrote on SimplyCast for Progress Magazine two years ago in which he discussed funding in vague terms.  He said at the time he was wary of U.S. venture capitalist funds that wanted the company to move its base from Nova Scotia.  “When we do raise money, we want to raise it within Canada so we can keep our headquarters in Nova Scotia,” he said.

SimplyCast raised an initial funding round of $758,000 when it launched in 2009, and last year the company raised less than $1 million in another funding round. All the investors are based in Nova Scotia.

The third-quarter statement said sales increased 105 from the same period a year earlier, and that it experienced a 99 percent retention rate among its customers.

“We’re experiencing great growth across many industries,” said El-Darahali in the statement. “Much to our surprise, we are seeing great results with restaurant marketing, pharmaceuticals, and telecoms. We take pride in making our platform adaptable to different industries and it is very rewarding to see all of that hard work and attention to detail paying off.”