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NTSK

Netskope, Inc. Class A Common Stock

NTSK

Netskope, Inc. Class A Common Stock • NASDAQ
$18.38 ▲ 3.43% (+0.61)
Market Cap $878.56 M
52w High $27.99
52w Low $17.32
Dividend Yield 0%
P/E -22.14
Volume 1.12M
Outstanding Shares 47.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $170.758M ▲ $169.209M ▲ $-90.301M ▼ -52.882% ▼ $0 ▲ $-34.397M ▼
Q1-2025 $157.736M ▲ $154.871M ▼ $-79.242M ▲ -50.237% ▲ $-0.21 ▼ $-31.429M ▲
Q2-2024 $130.253M ▲ $158.85M ▲ $-111.572M ▼ -85.658% ▼ $0 ▲ $-62.757M ▲
Q1-2024 $120.997M $158.687M $-95.157M -78.644% $-0.29 $-71.567M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $261.407M ▼ $827.387M ▲ $1.439B ▲ $-612.079M ▼
Q1-2025 $269.188M ▲ $805.992M ▼ $1.332B ▼ $-526.495M ▼
Q4-2024 $246.691M $858.506M $1.344B $-485.589M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-90.301M ▼ $-16.878M ▼ $-1.911M ▼ $11.74M ▲ $-7.049M ▼ $-19.653M ▼
Q1-2025 $-79.242M ▲ $25.592M ▲ $21.515M ▲ $4.741M ▼ $51.848M ▲ $17.456M ▲
Q2-2024 $-111.572M ▼ $-55.38M ▼ $15.531M ▼ $10.662M ▲ $-29.187M ▼ $-60.1M ▲
Q1-2024 $-95.157M $-50.534M $38.151M $2.913M $-9.47M $-66.407M

Five-Year Company Overview

Income Statement

Income Statement Netskope is clearly in a high‑growth, high‑investment phase. Revenue is climbing at a healthy pace and gross profit is expanding, which suggests strong demand and attractive unit economics for a software platform. However, operating losses remain substantial, even if they are slowly narrowing. Net losses are still deep, and earnings per share remain significantly negative. In simple terms, the business model shows promise on the revenue and margin side, but the cost base—particularly in sales, marketing, and product development—is still heavy, delaying any path to profitability.

Balance Sheet

Balance Sheet The balance sheet shows a company that has grown by leaning heavily on borrowed money. Total assets are increasing, but debt represents a large portion of the capital structure, and shareholder equity is negative, meaning obligations are greater than book equity value. This pattern is not unusual for a late‑stage, fast‑growing tech firm, but it does reduce financial flexibility. There is some cash on hand, yet the combination of ongoing losses and meaningful leverage raises sensitivity to funding conditions and execution risk over the next few years.

Cash Flow

Cash Flow Netskope is still burning cash, but the trend is moving in the right direction. Cash outflow from day‑to‑day operations has improved, with the business consuming less cash than in the prior year, though it remains clearly negative. Capital spending is modest and relatively stable, reflecting an asset‑light software model rather than heavy infrastructure build‑out on the balance sheet. Free cash flow is still negative but improving. Practically, this means the company is not yet self‑funding and will continue to depend on external capital or further efficiency gains until it reaches scale and better cost discipline.

Competitive Edge

Competitive Edge Netskope occupies a strong strategic position in cloud security, particularly in the SASE and SSE segments. Its cloud‑native platform, own global private network (NewEdge), and deep data‑centric security capabilities differentiate it from many rivals. The integrated platform approach and tight embedding into customer environments create high switching costs, which can be a powerful long‑term advantage. Recognition as a leader by major industry analysts further supports its brand and sales motion. That said, it competes directly with very well‑resourced players like Zscaler and Palo Alto Networks, in a market where technology cycles are fast and pricing pressure is real, so maintaining this edge will require sustained investment and flawless execution.

Innovation and R&D

Innovation and R&D The company is clearly built around innovation. Its architecture is cloud‑native from the ground up, it operates a proprietary global network, and it has long emphasized deep visibility and data protection. More recently, Netskope is leaning heavily into AI and machine learning, embedding these capabilities across threat detection, data classification, and policy management. Initiatives like SkopeAI and the AI‑driven “Copilot” assistants, along with new offerings such as DLP On Demand and integration of data security posture tools, show a steady pipeline of product enhancement. The growing patent portfolio and selective acquisitions (such as digital experience monitoring) further deepen the moat. The flip side is that this level of R&D intensity is costly and contributes to current losses, so the key question over time is how efficiently these innovations convert into durable revenue and margin gains.

Summary

Overall, Netskope looks like a classic late‑stage, high‑growth cybersecurity platform: strong technology, growing revenue, and respected positioning in a critical and expanding market, but paired with sizable losses, negative equity, and ongoing cash burn. The business appears to have attractive underlying economics at the gross margin level, yet it is still spending heavily to win share and extend its technology lead. The company’s future will largely hinge on three things: its ability to keep its innovation edge in a crowded field, its progress in scaling revenue faster than operating costs, and its capacity to manage a leveraged balance sheet while moving toward sustainable, self‑funded growth.

NEWS

November 12, 2025 · 8:00 AM UTC

SASE OpsLab Partners with Netskope to Revolutionize SASE Deployment at Scale for Frictionless Customer Experience

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October 13, 2025 · 9:00 AM UTC

Research: Improved CEO-CIO Alignment Will Catalyze Strategic Decisions on AI Adoption

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October 7, 2025 · 9:00 AM UTC

Netskope Extends Unified, AI-Powered, Secure Access for All Users and Devices Everywhere with Universal ZTNA Enhancements

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October 7, 2025 · 8:17 AM UTC

LINEN Cloud Congratulates Netskope on Nasdaq Debut; Showcases Role in Standardizing Global GTM Planning

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September 22, 2025 · 8:45 AM UTC

Netskope Announces Closing of Initial Public Offering and Full Exercise of Over-Allotment Option

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