Netskope reports revenue of $220,5 million in the quarter, up 29%.
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Netskope ended the second quarter of fiscal year 2027, which ended on July 31, with revenue of US$220,5 million, a 29% increase compared to the same period of the previous year. According to the company, the results exceeded projections in all metrics tracked. Annual recurring revenue (ARR) reached US$899 million, a 27% increase year-over-year. The company attributed this performance to demand for its Netskope One platform, which combines security, networking, analytics, and artificial intelligence capabilities. "The results were driven by continuous and differentiated organic innovation and consistent customer demand for the Netskope One platform in the areas of security, networking, analytics, and artificial intelligence," said Sanjay Beri, CEO of Netskope. The company also highlighted the growing demand for security solutions focused on artificial intelligence. According to Beri, the company sees opportunity in the convergence of cloud computing, AI, networking, and security, especially given the adoption of AI applications by organizations. In the quarter, GAAP gross profit was US$163 million, compared to US$123,2 million a year earlier. The gross margin increased from 72% to 74%. Under non-GAAP criteria, gross profit reached US$169,1 million, compared to US$127,3 million, while the gross margin advanced from 75% to 77%. Despite the improvement in gross margin, the...
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