Business
NETSCOUT Reports First Quarter Fiscal Year 2025 Financial Results
WESTFORD, Mass.--(BUSINESS WIRE)-- NETSCOUT SYSTEMS, INC. (NASDAQ: NTCT), a leading provider of enterprise performance management, carrier service assurance,
About this update from Netscout Systems, Inc.
[{"type":"text","content":" WESTFORD, Mass.--(BUSINESS WIRE)--\nNETSCOUT SYSTEMS, INC. (NASDAQ: NTCT), a leading provider of enterprise performance management, carrier service assurance, cybersecurity, and DDoS protection, today announced financial results for its first quarter ended June 30, 2024.\n\n\nRemarks by Anil Singhal, NETSCOUT’s President & Chief Executive Officer:\n\n\n“We delivered Q1 fiscal year 2025 revenue at the high end of our outlook as we continue to position NETSCOUT to win in the market. We were also pleased to extend a multi-year enterprise license agreement with a leading North American Tier-1 service provider during the first quarter.\n\n\n“Looking ahead, our priorities remain to enhance our cybersecurity offerings to meet customer needs given the expanding cyber threat landscape and continuing to focus on prudently managing costs. Longer term, we are committed to leveraging our ‘Visibility Without Borders’ platform to help customers address the performance, availability, and security challenges of the complex digital world.”\n\n\nQ1 FY25 Financial Results\n\n\nTotal revenue (GAAP and non-GAAP) for the first quarter of fiscal year 2025 was $174.6 million, compared with $211.1 million (GAAP and non-GAAP) in the first quarter of fiscal year 2024. A reconciliation of all GAAP and non-GAAP results are included in the financial tables below.\n\n\nProduct revenue (GAAP and non-GAAP) for the first quarter of fiscal year 2025 was $61.2 million, or approximately 35% of total revenue in the period. This compares with product revenue (GAAP and non-GAAP) of $94.7 million in the first quarter of fiscal year 2024, which was approximately 45% of total revenue in the period.\n\n\nService revenue (GAAP and non-GAAP) for the first quarter of fiscal year 2025 was $113.4 million, or approximately 65% of total revenue in the period. This compares with service revenue (GAAP and non-GAAP) of $116.5 million in the first quarter of fiscal year 2024, which was approximately 55% of total revenue for the period.\n\n\nNETSCOUT’s loss from operations (GAAP) was $463.3 million in the first quarter of fiscal year 2025, which includes a non-cash goodwill impairment charge of $427.0 million and a restructuring charge of $16.6 million. This compares with a loss from operations (GAAP) of $4.7 million in the first quarter of fiscal year 2024. The Company’s operating m...