Prime Highlights:
- Netskope has filed to list on the Nasdaq under the ticker “NTSK,” joining a wave of tech firms returning to the IPO market.
- The company is seeing strong growth in cloud security, backed by major investors like Accel, Lightspeed, and Iconiq.
Key Facts:
- Netskope’s annual recurring revenue rose 33% to $707 million, and revenue for the first half of 2025 reached $328 million, up 31%.
- Despite the growth, the company reported a $170 million loss in the first half of 2025, an improvement from a $207 million loss last year.
Key Background:
Santa Clara-based cybersecurity firm Netskope has officially filed to go public on the Nasdaq under the ticker symbol “NTSK”, becoming the latest tech company to test the waters in a reopening IPO market.
Founded in 2012, Netskope built its name in cloud security and now competes with large players such as Palo Alto Networks, Cisco, Zscaler, Broadcom, and Fortinet. The company has strong backing from major investors, including Accel, Lightspeed Ventures, and Iconiq Capital, who recently gained from Figma’s successful stock market debut.
In its filing, Netskope reported annual recurring revenue of $707 million, up 33% from last year. Netskope increased its revenue by 31 percent in the first half of 2025 to 328 million. In the wake of the proliferation, the company is yet to make a profit. It reported a $170 million deficit for the period, an improvement compared to the $207 million loss a year earlier.
The IPO arrives during an active phase for the cybersecurity sector. Big tech companies are spending billions on security, with Alphabet purchasing Wiz for $32 billion and Palo Alto Networks set to buy CyberArk for $25 billion. These moves highlight how vital cloud and identity protection have become.
The stock market has also seen fresh momentum this year. Figma’s value tripled in its New York debut, Circle’s shares jumped 168% on its first day, and eToro gained 29% in its May listing. Netskope hopes to benefit from the same investor interest.
Morgan Stanley and JPMorgan will lead the IPO, supported by 13 other banks. Netskope has registered solid revenue growth, premium backers, and the actual demand for cybersecurity, so its listing should be followed with interest, despite the fact that it is currently in the process of becoming profitable.
