Netskope Landing Major New Customers Post-IPO: CEO Sanjay Beri

The cybersecurity vendor is also seeing a strong expansion of product adoption across its SASE platform, Beri says, as Netskope publicly reported quarterly results for the first time.

Netskope is seeing strong demand for consolidation on its secure access service edge (SASE) platform while also landing a number of major customers following its initial public offering, Netskope Co-founder and CEO Sanjay Beri said Thursday.

Beri made the comments as Netskope reported quarterly results for the first time as a publicly traded company. Netskope surpassed Wall Street analysts’ consensus estimate on both revenue and earnings for the third quarter of its fiscal year 2026, ended Oct. 31.

In mid-September, Netskope completed its IPO by pricing its shares at the top end of its previously shared range, raising $908 million.

Gaining greater visibility in the market—along with accelerated opportunities for customer wins—was among the top goals for the IPO, Beri said during the company’s quarterly call with analysts Thursday.

And this is exactly what is happening, he said. During the quarter, “we saw significant customer wins across verticals and geographies,” Beri said.

“We landed important net new and expansion wins with customers seeking to modernize their security and infrastructure, address greenfield use cases, consolidate vendors and replace legacy and first-generation cloud security products with our Netskope One platform,” he said.

Enabling fast, secure access to the cloud, web, SaaS and AI was among the most common use cases, Beri noted. Another key use case for customers was data protection and infrastructure modernization, he said.

Major customers that Netskope landed during the quarter included a Fortune 50 pharmaceutical retailer, which “selected Netskope to redesign their internet edge connectivity—supporting 50,000 employees in 8,000 locations,” Beri said.

Other customer wins included a Fortune 200 biotechnology firm, which replaced “multiple legacy and first-generation cloud security tools with a unified SASE deployment of over a dozen Netskope One products,” he said.

At present, more than half of Netskope’s customers have at least four products deployed on the vendor’s platform, Beri noted.

Netskope reported Thursday that its fiscal third-quarter revenue reached $184.2 million, jumping 33 percent from the same period a year earlier, and coming in about $8 million above Wall Street expectations.

Non-GAAP earnings, meanwhile, came in at a net loss of 10 cents per share, surpassing the analyst consensus estimate by 15 cents per share.

Netskope’s stock price slipped in after-hours trading Thursday evening, falling 10.2 percent to $21.09 a share as of this writing.

‘Broader Awareness’

For Netskope, ranked as a “leader” by Gartner in both SASE and SSE (security service edge) this year, many of its top competitors were already publicly traded including Palo Alto Networks, Zscaler and Fortinet.

Thus, the “major reason” for the IPO was “to bring broader awareness to the company, so we can then have more and more customers adopt it—and give more partners the ability to ride that awareness to bring it to [customers],” Beri said in a recent interview with CRN.

“When we get to a customer and they look at our platform, we have such a great win rate,” he said in October. “The IPO really helps boost awareness for a sustained period of time.”

Beri also told CRN that Netskope fully intends to maintain its “partner-first” commitment going forward with increased investments into areas such as partner enablement. Netskope also wants to signal that, with the IPO now completed, the company is firmly established for the long haul, he said.

“I’ll be here in 15 years doing this, driving Netskope. And many of my team members will be. We really view this as the first inning of our company and what we’re trying to build,” Beri said during the previous interview. “We have much bigger aspirations around the impact we can make—both in the partner community and also more broadly in the industry.”