0001193125-26-135011
SEC filingNetskope's notes highlight $1.2B in remaining performance obligations and $720.96M in convertible debt, with no purchase commitments disclosed.
As of January 31, 2026, Netskope held $432.6M in cash and cash equivalents and $725.6M in marketable securities, totaling $1.158B in highly liquid assets. This compares to $166.0M and $80.7M respectively at year-end 2025, a significant increase driven by IPO proceeds of $992.2M (net). Total assets reached $1.772B, up from $858.5M. The company's convertible notes, carried at fair value, stood at $720.96M (Level 3), with an aggregate principal of $476M. Stockholders' equity turned positive to $194.5M from a deficit of $485.6M, reflecting the conversion of preferred stock and the IPO.
The notes disclose no purchase commitments or material contractual obligations beyond operating leases. Future lease payments total $43.4M, with $12.8M due within one year. The company had $1.2M in letters of credit collateralized by restricted cash. No supply or capacity agreements were reported.
Cash used in investing activities included $22.9M in property and equipment purchases and $2.8M in capitalized internal-use software, totaling $25.7M in capex. The company repurchased $0.6M of common stock during the year. No dividends were declared. There was no new debt issuance or repayment in fiscal 2026; the change in convertible notes fair value ($34.3M loss in operations and $60.1M loss in OCI) relates to remeasurement, not cash flow.
Netskope operates as a single reportable segment. Geographic revenue split (based on end-customer location): Americas $400.5M (56.5%), EMEA $177.1M (25.0%), APJ $131.3M (18.5%). Subscription revenue comprised 99% of total $709.0M revenue. Channel partners accounted for 95% of revenue, with one partner representing 14% of accounts receivable. No individual end customer exceeded 10% of revenue.
The provided document content does not include the Consolidated Statements of Cash Flows. It contains the audit report, balance sheet, and income statement, but the cash flow statement (page 88) is absent from the excerpt. Consequently, no cash flow metrics (CFO, capex, FCF, etc.) can be extracted or analyzed. The analysis cannot proceed beyond this observation.