Cybersecurity firm Netskope files to go public on the Nasdaq

Cybersecurity firm Netskope files to go public on the Nasdaq


Sanjay Beri, chief executive officer and founder of Netskope Inc., listens during a Bloomberg West television interview in San Francisco, California.

David Paul Morris | Bloomberg | Getty Images

Cloud security platform Netskope will go public on the Nasdaq under the ticker symbol “NTSK,” the company said in an initial public offering filing Friday.

The Santa Clara, California-based company said annual recurring revenue grew 33% to $707 million, while revenues jumped 31% to about $328 million in the first half of the year.

But Netskope isn’t profitable yet. The company recorded a $170 million net loss during the first half of the year. That narrowed from a $207 million loss a year ago.

Netskope joins an increasing number of technology companies adding momentum to the surge in IPO activity after high inflation and interest rates effectively killed the market.

So far this year, design software firm Figma more than tripled in its New York Stock Exchange debut, while crypto firm Circle soared 168% in its first trading day. CoreWeave has also popped since its IPO, while trading app eToro surged 29% in its May debut.

Netskope’s offering also coincides with a busy period for cybersecurity deals.

The year’s two biggest technology deals include Alphabet’s $32 billion acquisition of Wiz and Palo Alto Networks‘ ambitious plan to buy Israeli identity security company CyberArk for $25 billion.

Founded in 2012, Netskope made a name for itself in its early years in the cloud access security broker space. The company lists Palo Alto Networks, Cisco, Zscaler, Broadcom and Fortinet as its major competitors.

Netskope’s biggest backers include Accel, Lightspeed Ventures and Iconiq, which recently benefited from Figma’s stellar debut.

Morgan Stanley and JPMorgan are leading the offering. Netskope listed 13 other Wall Street banks as underwriters.

Don’t miss these insights from CNBC PRO



Source

Apple silences its critics with strong iPhone demand and blowout services revenue
Technology

Apple silences its critics with strong iPhone demand and blowout services revenue

Talk about a monster quarter. Apple delivered a great September quarter Thursday evening, even as iPhone supply was constrained by strong demand. The stock really got going after the company’s strong forecast for the holiday quarter. Revenue in Apple’s fiscal 2025 fourth quarter, which ended Sept. 27, rose 8% year over year to $102.47 billion, […]

Read More
SpaceX and Blue Origin both submitted plans to get astronauts back to the moon faster, NASA says
Technology

SpaceX and Blue Origin both submitted plans to get astronauts back to the moon faster, NASA says

SpaceX’s Starship rocket 38 launches during the 11th test flight on October 13, 2025 as seen from South Padre Island in Texas. Gabriel V. Cardenas | Afp | Getty Images SpaceX said it has pitched NASA a “simplified mission” to put astronauts back on the moon following criticisms over delays by Sean Duffy, the space […]

Read More
Apple isn’t playing the same AI capex game as the rest of the megacaps
Technology

Apple isn’t playing the same AI capex game as the rest of the megacaps

While many of the largest tech companies race to build massive data centers for their artificial intelligence ambitions, Apple is taking a more modest approach. Instead of simply buying as many AI chips as possible, Apple buys computing capacity from outside partners, finance chief Kevan Parekh explained Thursday on the company’s fourth quarter earnings call. […]

Read More