Netskope (NTSK) Registration Filing summary

Company overview and business model

• Provides cloud-native security, networking, and analytics solutions via a SaaS subscription model to enterprises globally.

• Platform unifies advanced security, networking, and analytics, addressing cloud and AI-driven digital transformation.

• Customers span large enterprises, mid-market, and government, with a land-and-expand sales approach.

• Over 30% of Fortune 100 and 18% of Forbes Global 2000 are customers as of July 2025.

• Product suite includes SSE, SASE, CASB, DLP, ZTNA, SD-WAN, and advanced analytics, with AI foundational to the platform.

Financial performance and metrics

• Annual Recurring Revenue (ARR) grew 33% YoY to $707M as of July 31, 2025.

• Revenue for the six months ended July 31, 2025 was $328M, up 31% YoY.

• Net loss for the six months ended July 31, 2025 was $170M, improved from $207M YoY.

• Net retention rate increased to 118% as of July 31, 2025; gross retention rate at 96%.

• Operating cash flow margin improved to 3% for the six months ended July 31, 2025.

• Gross margin rose to 71% for the six months ended July 31, 2025.

• As of July 31, 2025, cash, cash equivalents, and marketable securities totaled $261M.

• Accumulated deficit as of July 31, 2025 was $2.1B.

Use of proceeds and capital allocation

• Net proceeds will be used for general corporate purposes, including working capital, operating expenses, and capital expenditures.

• A portion may be used to satisfy tax obligations related to RSU settlements and to repay outstanding convertible notes.

• Management has broad discretion over use of proceeds; no current commitments for acquisitions.