Netskope Files for IPO, Reports $707M ARR

Netskope has taken the first official step toward becoming a public company. The SASE vendor filed its IPO plans with the SEC, disclosing annual recurring revenue of $707 million at the end of July. The company is set to list under the ticker “NTSK” on the Nasdaq Global Select Market but did not share details on pricing or the number of shares. If completed, it would be the second pure-play cybersecurity IPO of 2025, following SailPoint earlier this year.

The filing shows Netskope’s ARR grew 33 percent year-over-year, up from $531 million. That level of growth underscores the demand for SASE and SSE capabilities as enterprises continue to modernize security around cloud, SaaS, and AI-driven architectures. Still, like many security vendors pursuing aggressive expansion, Netskope is operating at a loss, reporting $354.5 million in net losses for fiscal 2025.

Even with those losses, Netskope’s leadership has signaled the IPO is less about capital needs and more about brand visibility. By going public, Netskope aims to elevate its profile as it competes with heavyweights including Palo Alto Networks, Zscaler, and Fortinet. The company was recently named a leader in Gartner’s 2025 SASE Magic Quadrant, which could help support its growth narrative in the market.

For service providers and enterprises tracking vendor stability, Netskope’s IPO is a milestone. It represents both the maturity of the SASE category and the ongoing consolidation among top cybersecurity platforms. Whether the public markets reward Netskope’s growth-at-all-costs approach will be closely watched by partners, customers, and competitors alike.