Netskope Files IPO Plans, Discloses $707 Million In ARR

The SASE vendor believes that ‘the lift in awareness we would get from being a public company would be an accelerant for us,’ Netskope CEO Sanjay Beri told CRN previously.

Netskope has publicly filed its intentions for a planned initial public offering, disclosing annual recurring revenue of $707 million as of the end of July.

The SASE (secure access service edge) vendor did not share a target fundraise or number of shares for the IPO in the filing with the U.S. Securities and Exchange Commission.

[Related: Zscaler, Netskope, Palo Alto Networks Lead Gartner’s SSE Magic Quadrant For 2025]

Netskope is seeking to be listed under the ticker symbol “NTSK” on the Nasdaq Global Select Market.

The company aims to become the second pure-play cybersecurity vendor to go public in 2025, following the IPO from identity security vendor SailPoint in February.

Netskope’s annual recurring revenue (ARR) climbed 33 percent to $707 million as of July 31, up from $531 million a year earlier, according to the SEC filing.

The company disclosed a net loss of $354.5 million for its fiscal 2025, ended Jan. 31, which widened from $344.8 million during the prior fiscal year. However, Netskope reported that its net loss decreased for the six months ended July 31 from the year-earlier period, to $169.5 million from $206.7 million.

In March, Netskope co-founder CEO Sanjay Beri told CRN that the boost to market awareness from going public is the main driver for Netskope eyeing an IPO.

“The big reason why we would go public is not for capital — we don't need that. It’s for awareness,” Beri said. “We do feel like the lift in awareness we would get from being a public company would be an accelerant for us.”

Netskope competes heavily with several publicly traded vendors in SASE, including Palo Alto Networks, Zscaler and Fortinet.

In July, Gartner ranked Netskope as a “leader” in its 2025 SASE Magic Quadrant, alongside Palo Alto Networks, Cato Networks and Fortinet.

Speaking with CRN in March, Beri said that Netskope continues to find strong demand from customers for its security and data protection capabilities, which can help substantially to “modernize everything” that customers will need to take full advantage of AI, SaaS and the cloud.

In effect, the cloud and AI push is “ripping apart the entire architecture of companies’ networks and the billions they’ve spent on security,” he said. “That’s why I think a lot of people have realized, ‘We’ve got to [modernize].’”