Netskope Reports Strong Q1 2027 Earnings with Focus on AI Security
Netskope Q1 2027 Earnings Call: Complete Transcript
Image: Benzinga
Netskope announced a 29% year-over-year increase in Annual Recurring Revenue (ARR) to $845 million and a 28% rise in revenue to $202 million for Q1 2027. The company emphasized its commitment to AI security, launching five new AI products and achieving significant customer retention and growth metrics.
- 01Netskope's ARR reached $845 million, marking a 29% increase year-over-year.
- 02Revenue for Q1 2027 grew to $202 million, exceeding company guidance with a 28% year-over-year increase.
- 03The company launched five new AI-related products, contributing to a 60% growth in ARR from new logos.
- 04Netskope's gross retention rate hit a record high, with 23% more customers spending over $100,000 in ARR compared to last year.
- 05Management anticipates net new ARR acceleration in the second half of the fiscal year, driven by new AI products and sales rep expansion.
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Netskope (NASDAQ:NTSK) reported impressive financial results for the first quarter of fiscal 2027, with Annual Recurring Revenue (ARR) increasing by 29% to $845 million and revenue rising 28% to $202 million, surpassing expectations. The company highlighted its strategic focus on AI security, launching five new AI-related products and experiencing robust growth in its product pipeline. Operationally, Netskope achieved a record gross retention rate and saw a 23% increase in customers spending over $100,000 annually. Management expressed confidence in the company's position within the AI security landscape, leveraging its AI-native NetskopeOne platform and partnerships with major tech firms such as Anthropic, OpenAI, and Google. Looking ahead, Netskope expects to accelerate net new ARR in the latter half of the fiscal year, driven by product innovation and an expanding sales team. The company remains committed to helping customers navigate the complexities of AI adoption while ensuring robust security measures.
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Netskope's growth in ARR and revenue indicates strong demand for its AI security solutions, which could lead to increased job opportunities within the company and its partners.
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