Netskope Files $813M IPO at $6.5B Valuation

Netskope Inc., a cloud-based cybersecurity firm specializing in Secure Access Service Edge (SASE) technologies, has filed for an initial public offering aiming to raise up to $813 million at a valuation of as much as $6.5 billion. The company plans to offer 47.8 million shares priced between $15 and $17 on the Nasdaq under the ticker 'NTSK,' with Morgan Stanley and J.P. Morgan as lead underwriters. Despite reporting a net loss of $354.5 million for fiscal 2025, Netskope's revenue surged 31% in the first half of fiscal 2026 to $328.5 million, and its annual recurring revenue reached $707 million, reflecting strong demand amid rising cyber threats. Netskope's IPO follows a period of renewed investor confidence in U.S. stock markets after volatility linked to trade tariffs, and it highlights growing interest in AI-driven cybersecurity companies addressing cloud security challenges. The company competes with major players like Palo Alto Networks and Zscaler and counts clients such as Qualcomm and Canadian bank BMO. This move comes shortly after other cybersecurity IPOs, including SailPoint and Rubrik, underscoring a rare positive trend in a sector typically cautious about public offerings.