Netskope’s IPO Raises $908M: SASE Leader Surges 18% on First Trading Day

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Netskope, a California-based cybersecurity firm specializing in secure access service edge (SASE) solutions, has officially gone public in one of the largest cybersecurity IPOs of 2025. Trading on the Nasdaq under the ticker symbol NTSK, the company raised more than $908 million by selling shares at $19 each. Investor enthusiasm was evident as the stock climbed 18% on its first day, closing at $22.49 and boosting Netskope’s valuation from $7.3 billion at IPO to approximately $8.6 billion.

The company’s strong debut underscores the market’s confidence in SASE and secure service edge technologies, which are becoming indispensable for enterprises navigating cloud adoption, hybrid workforces, and increasing cyber threats. Netskope’s offerings include secure service edge (SSE), firewall, cloud access security, and threat protection, positioning it at the forefront of modern enterprise security architecture.

Despite the promising growth story, Netskope remains unprofitable. For the first half of 2025, the company reported $707 million in annual recurring revenue (ARR) but also logged a net loss of $170 million. Like many high-growth technology firms, Netskope is prioritizing market share and product innovation over near-term profitability, banking on the continued expansion of the SASE market to justify its aggressive investments.

This IPO highlights the ongoing investor appetite for cloud security companies, even when they operate at a loss, as long as the revenue growth trajectory is compelling. Netskope’s transition from private to public markets not only strengthens its capital base but also reaffirms its role as a bellwether for the cybersecurity industry’s evolution.

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