Netskope, Inc. · NASDAQ:NTSK
Netskope — Q1 2027 Earnings Presentation
34 slides from Netskope's earnings presentation, Jun 3, 2026
Slide 1: Fiscal Q1 2027 Investor Presentation
Fiscal Q1 2027 Investor Presentation June 3, 2026 1 2026 © Netskope Public. All rights reserved.
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements that involve risks and uncertainties. Forward-looking statements contained in this presentation include, but are not limited to, statements regarding our future financial and operating performance, including our GAAP and non-GAAP guid
Slide 3: Netskope Q1'27 Financial Highlights
Netskope Q1’27 Financial Highlights $845M $202M ARR Revenue 33% 29% 28% RPO Growth Y/Y ARR Growth Y/Y Revenue Growth Y/Y 77% (14%) 113% Non-GAAP Gross Margin 1 Non-GAAP Operating Margin 1 Net Retention Rate +3% +4% Point Improvement Y/Y Point Improvement Y/Y 3 2027 © Netskope Public. All rights rese
Slide 4: We've ReAImagined Security and Networking for the Cloud & AI Era
We’ve ReAImagined Security and Networking for the Cloud & AI Era 4 2027 © Netskope Public. All rights reserved.
Slide 5: Our Customers Include Large and Complex Global Organizations
Our Customers Include Large and Complex Global Organizations 4,700+ 4 of the 9 3 of the 4 5 of the 7 3 of the 4 Customers Largest Largest Largest Largest Healthcare Telcos Financial Retailers Services >33% ~19% of the Fortune 100 of the Forbes Global 2000 Notes: 1. Largest companies across healthcar
Slide 6: Our Market Leadership is Broadly Recognized
Our Market Leadership is Broadly Recognized 2025 IDC MarketScape for 2025 Gartner Magic Quadrant 2025 Gartner Magic Quadrant Q3 2025 Forrester Wave Worldwide DLP Vendor for SASE Platforms for SSE SASE Solutions Assessment Strong Contenders Performers Leaders Challengers Leaders Challengers Leaders F
Slide 7: Our Market Opportunity is Large and Growing
Our Market Opportunity is Large and Growing $336Bn+ Industry Analyst Categories AI Securing AI Rapid innovation for a market that is in Security AI-Amplified Security early innings $170Bn+ Zero Trust Edge AI Security VPN / ZTNA New innovation and modernization of Security Messaging Security Software
Slide 8: Netskope One Platform for Security, Networking, Analytics, and AI Security
Netskope One Platform for Security, Networking, Analytics, and AI Security AgentSkope DLP Agent | Insider Threat Agent | Private Access Agent | DEM Intelligence Agent | DEM Insights Agent | CCI Insights Agent Security Networking Analytics AI Security Quantum Encryption DNSaaS Data Lineage AI Command
Slide 9: AI-Native Architecture Powers Everything We Do
AI-Native Architecture Powers Everything We Do 190+ Proprietary Models from Netskope AI Labs Data Threat Generative AI User & Entity SD-WAN Device Access Protection Protection and SaaS Behavior Optimization Intelligence Automatically protect Prevent evasive attacks, Discover and govern the Detect us
Slide 10: Our AI Strategy is Built on Four Key Pillars
Our AI Strategy is Built on Four Key Pillars AI Native Platform Enabling and Securing AI NewEdge AI Infrastructure AI Agents AI-Native R&D Thinking Deep Learning AI Labs & GenAI Facets for 8 Years Netskope One Core AI Agents Enabling AI Securing AI 190+ Domain 50+ Killer AI Innovations Specific Mode
Slide 11: Netskope One AI Security
Netskope One AI Security AI Command Center: Receive a holistic view of AI usage and risk with centralized AI discovery, risk understanding, and remediation Agentic Broker AI Gateway AI Guardrails AI Red Teaming Secure MCP-based agentic Delivers visibility, access Extends Netskope's data Stress-tests
Slide 12: AI Command Center Unifies AI Security
AI Command Center Unifies AI Security Collects signals across control points into a workflow-driven UX AI Command Center Discovery + Topology ➤ Security Posture + Risk ➤ Actions, Policy Gathers discovery context from SASE control Provides insights and a workflow to take points, AI security products,
Slide 13: Netskope One AgentSkope
Netskope One AgentSkope An intelligent layer of the Netskope One platform, enabling agentic operations that reduce the burden on security and networking teams DLP AISecOps Agent DEM Data DEM Insights Agent Intelligence Agent Triage, Investigation, Insights Dashboard Response NetOps Assistant Insider
Slide 14: Netskope One AgentSkope Architecture
Netskope One AgentSkope Architecture 14 2027 © Netskope Public. All rights reserved.
Slide 15: We Enable Enterprises to Securely Unleash AI Potential
We Enable Enterprises to Securely Unleash AI Potential Sanctioned Enterprise AI/MCP Agentic & MCP Interactions AI Coding Assistants AI/MCP on Endpoints User Interactions Assess Secure AI Enforce Real- AI Embedded in Apps Risk Environments Time Actions Personal AI Usage Attacker Interactions AI Produ
Slide 16: NewEdge Network: High-Performance Infrastructure for the AI Era
NewEdge Network: High-Performance Infrastructure for the AI Era Visibility ~80 Regions 120+ Data Centers Resilience (full compute) 99.999% Uptime SLA Performance 200+ Localization Zones Control Network 10K+ Adjacencies 16 2027 © Netskope Public. All rights reserved.
Slide 17: Netskope Redefines Enterprise Security and Networking for the Cloud and AI
Netskope Redefines Enterprise Security and Networking for the Cloud and AI DATA UNMANAGED PRIVATE MANAGED PUBLIC AI MODELS/ ECOSYSTEM WEB CENTER SaaS CLOUD SaaS CLOUD FACTORIES APPS One Engine One Client One Network NewEdge Network Netskope One Zero Trust Engine Netskope One NewEdge Network One Gate
Slide 18: Netskope One Platform Driving Expansion
Netskope One Platform Driving Expansion Significant Whitespace EXPAND Product Adoption Rates Cross-sell and upsell opportunities with 25 platform products High-Velocity Innovation INNOVATE Gaining R&D efficiencies from common platform capabilities Well-Positioned For AI Supercycle MONETIZE AI Comman
Slide 19: Innovation Drives Our Business Model
Innovation Drives Our Business Model Land & Expand ● Land & Expand model drives Innovate our growth ● More products, users, and use ● Innovation drives our cases drives expansion opportunity ● Upsell and cross-sell drives NRR ● 25+ products; 2-5 new products introduced per year ● Early in AI securit
Slide 20: Financial Highlights
Financial Highlights 20 2027 © Netskope Public. All rights reserved.
Slide 21: Q1'27 Financial Results
Q1’27 Financial Results Q1’27 Q1’27 Q1’27 Results Guidance Results vs. Guidance Revenue $197M – $199M $202M Exceeded Y/Y Growth % 26% 28% Operating Margin (16%) (14%) Exceeded EPS ($0.07) – ($0.06) ($0.06) Met Free Cash Flow ($60M) – ($50M) ($57M) Met Note: All metrics represent non-GAAP (except rev
Slide 22: Durable Growth At Scale
Durable Growth At Scale ARR ($M) Revenue ($M) Sustained High Growth at Scale Globally balanced with all geos growing 25%+ High Visibility RPO grew 33% Y/Y to $1.2B+ providing visibility into future revenue Enterprise Adoption $100K+ ARR customers grew 23% Y/Y to 1,600 22 2027 © Netskope Public. All
Slide 23: Continued Gross Margin Expansion
Continued Gross Margin Expansion Built To Scale Non-GAAP Gross Margin Better unit economics at scale, lowering the marginal cost to serve each incremental customer Gaining Leverage Significant upfront prior investments in NewEdge driving margin expansion NewEdge AI Fast Path Eliminates “Security vs.
Slide 24: Driving Operating Leverage
Driving Operating Leverage Non-GAAP Operating Margin Investing In Future Growth Continued path towards profitability, despite significant GTM investments Strategic Bets in AI Security Investing in R&D innovation engine and ramping quota carrying sales reps globally to address massive TAM +4 % Points
Slide 25: Q2'27 Financial Guidance
Q2’27 Financial Guidance Q2’27 FY’27 Guidance Guidance Revenue $213M – $215M $879M – $883M Y/Y Growth % at Midpoint ~25% ~24% Gross Margin ~77% Operating Margin (14%) – (15%) (9.5%) – (10%) EPS1 ($0.06) – ($0.07) ($0.18) Free Cash Flow Margin Due to annual billings 2% – 4% shift, FCF expected to be
Slide 26: Netskope Key Takeaways
Netskope Key Takeaways Broadly recognized Market Leader in SSE and SASE with large $336B+ TAM1 opportunity across security and networking for the cloud and AI era Netskope One platform with 25+ products driving expansion in large and growing installed base Uniquely positioned for the AI Supercycle w
Slide 27: Appendix
APPENDIX 27 2026 © Netskope Public. All rights reserved.
Slide 28: Additional FY'27 Modeling Points
Additional FY’27 Modeling Points • Note that in FY’26, seasonality of net new ARR was more weighted to H1. Net New ARR • In FY’27, we expect a return to more historical trend with NNARR weighted towards H2 Gross Margin • H1’27 gross margin expected to be approximately flat with Q4’26 Capital Expendi
Slide 29: Fully Diluted Share Count Calculation
Fully Diluted Share Count Calculation Shares (M) (+) Class A Common 237.3 (+) Class B Common 166.3 Basic Shares Outstanding 1 403.6 (+) Options Outstanding 49.0 2 (-) TSM Options Repurchased (26.7) (+) RSUs Outstanding 57.2 (+) Convertible Notes 3 24.6 Fully Diluted Shares Outstanding 507.8 1. Basic
Slide 30: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations FY’25 FY’26 Q1’26 Q1’27 January 31, 2025 January 31, 2026 April 30, 2025 April 30, 2026 Revenue $538,268 $708,997 $157,736 $201,592 GAAP gross profit 347,899 482,669 109,513 148,255 Add: Stock-based compensation expense and related taxes 2,478 34,037 520 4,067 Add: A
Slide 31: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations FY’25 FY’26 Q1’26 Q1’27 January 31, 2025 January 31, 2026 April 30, 2025 April 30, 2026 GAAP S&M expense 280,828 393,742 69,376 105,682 Less: Stock-based compensation expense and related taxes (18,597) (97,567) (3,403) (14,728) Less: Amortization of acquired intangib
Slide 32: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations FY’25 FY’26 Q1’26 Q1’27 January 31, 2025 January 31, 2026 April 30, 2025 April 30, 2026 GAAP net loss (354,510) (679,388) (79,242) (116,496) Add: Stock-based compensation expense and related taxes 51,139 525,601 10,173 77,080 Add: Acquisition-related expense (credit)
Slide 33: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations FY’25 FY’26 Q1’26 Q1’27 January 31, 2025 January 31, 2026 April 30, 2025 April 30, 2026 Net cash provided by (used in) operating activities (110,678) 38,073 25,592 (53,913) Less: Purchase of property and equipment (37,032) (22,920) (7,410) (2,159) Less: Capitalized i
Slide 34: Definitions
Definitions Total Addressable Market (“TAM”): Total Addressable Market figures are estimates based on IDC and Gartner market forecasts from 2024-2029. Figures reflect the markets addressed by Netskope’s current offerings which include the following: Zero Trust Edge, VPN (Virtual Private Network)/ZTN