The IPO market is witnessing strong activity in the second half of 2025, making it one of the busiest periods for public listings. The Technology and Health & Life Sciences sectors continue to lead in terms of deal volume and capital raised. Recently, cybersecurity firm Netskope, Inc. filed with the Securities and Exchange Commission for an initial public offering.
The Offering
The company intends to offer 47.8 million shares in the offering, in an estimated price range of $15 per share to $17 per share. The tech firm has applied to list its shares on the Nasdaq Global Select Market under the symbol NTSK. Underwriters managing the offering will be led by Morgan Stanley and JPMorgan. Netskope is led by co-founder and chief executive officer Sanjay Beri.
At the mid-point of the offer price, the IPO is expected to generate proceeds of $719.2 million after deducting charges. The management plans to use the proceeds primarily for general corporate purposes, including working capital, operating expenses, and capital expenditures. A portion of the amount could be used for acquiring or investing in complementary businesses, products, services, and technologies. It may also use a portion of the proceeds to repay debt.
Key Metrics
In the six months ended July 2025, Netskope’s revenue increased to $328.5 million from $251.3 billion in the corresponding period a year earlier. The company reported a net loss of $169.5 million or $1.59 per share for the period, compared to a loss of $206.7 million or $2.18 per share in the first half of fiscal 2024. Annual recurring revenue increased 33% year-over-year to $707 million as of July 31, 2025, compared to $531 million a year earlier.
Founded in 2012 and headquartered in Santa Clara, California, Netskope is a cybersecurity solutions provider specializing in cloud-native security solutions for modern enterprises. The platform enables secure access to cloud, web, and private applications, with advanced capabilities in data loss prevention, zero-trust network access, and threat protection. Its main competitors include Palo Alto Networks, Cisco and Zscaler.