Cloud Security Firm Netskope Files for NASDAQ IPO Amidst Busy Week of Listings

Cloud security provider Netskope has filed for a NASDAQ IPO. Meanwhile, last-mile delivery service provider Elite Express and additive manufacturing technologies provider Velo3D opened for trading. Other notable IPOs include Yimutian, an agricultural B2B platform in China, and Figma and Ambiq Micro, which are already seeing coverage roll out.

Cloud security provider Netskope has filed for a NASDAQ IPO, following the success of its second cybersecurity company IPO of 2025. The company reported significant sales growth and improved losses in the first half of fiscal year 2025. Netskope's revenue reached $328.5 million, up 30.7% from the previous year, with nearly 95% of the revenue flowing through channel partners and managed service providers. The company's net loss also improved to $169.5 million, an 18% reduction from the previous year [1].

Netskope's IPO filing comes six months after Austin, Texas-based identity security firm SailPoint raised $1.38 billion on a $12.8 billion valuation in a Nasdaq public offering. The company plans to use the net proceeds of its IPO for general corporate purposes, including working capital, operating expenses, and capital expenditures, as well as potential acquisitions or investments in complementary businesses, products, services, or technologies [1].

Netskope's customer base includes more than 30% of the Fortune 100 and roughly 18% of the Forbes Global 2000, with notable clients such as Asics, BMO Financial, Colgate-Palmolive, Exclusive Networks, and Qualcomm. The company's main rivals include Broadcom, Cisco, Fortinet, Palo Alto Networks, and Zscaler, which went public in March 2018 [1].

The company's CEO, Sanjay Beri, expressed optimism about the potential benefits of going public, stating that it will help amplify awareness of their groundbreaking Netskope One platform and expand their reach. Netskope's IPO filing comes at a time when other notable companies, such as last-mile delivery service provider Elite Express and additive manufacturing technologies provider Velo3D, have also opened for trading [2].

References:
[1] https://www.bankinfosecurity.com/netskopes-ipo-filing-reveals-surging-sales-improved-losses-a-29278
[2] https://www.govinfosecurity.com/netskopes-ipo-filing-reveals-surging-sales-improved-losses-a-29278