NETSCOUT SYSTEMS INC NTCT
NetScout is an industry leader with over four decades of experience in providing enterprise network observability, carrier service assurance, cybersecurity, and Distributed Denial-of-Service (DDoS), protection solutions. Our unique visibility platform and solutions are powered by our pioneering deep packet inspection, or DPI, technology at scale, which is used by many Fortune 500 companies to protect their digital business services against disruption. Service providers and enterprises, including local, state and federal government agencies, rely on our solutions to achieve the visibility and protection necessary to optimize network performance, ensure the delivery of high-quality, mission-critical applications and services, gain timely insight into the end-user experience, and protect their networks from attack. The majority of our solutions are designed to provide Smart Data, a high-fidelity, decision-grade data foundation derived from real-time network activity across legacy, hybrid, and cloud-native environments. This data enables a unified view of performance, availability, and security, supports faster root-cause analysis and operational decision-making, and is increasingly used to inform broader observability platforms and automated and AI-driven workflows. With our offerings, customers can quickly, efficiently and effectively identify and resolve issues that result in downtime, service interruptions, poor service quality, or compromised data, thereby reducing mean time to resolution of issues and driving compelling returns on their investments in their networks and broader technology initiatives. Significant technology trends and catalysts for our business include the evolution of customers' digital transformation initiatives, such as migration to cloud environments and to the edges of their networks; the rapidly evolving cybersecurity threat landscape; advancements in artificial intelligence ("AI") and business analytics that can enhance observability and are increasing the need for high-quality, real-time data to support automated and AI-driven operations; and the continued evolution and potential opportunities related to 5G technology across both the service provider and enterprise customer verticals.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Rest of the world
- Europe
- Asia
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| United States | $474.4M | $465.5M | $470.3M |
| Rest of the world | $163.3M | $136.9M | $146.8M |
| Europe | $158.8M | $156.7M | $146.9M |
| Asia | $63.1M | $63.6M | $65.4M |
As the company reported it, from the “SEGMENT AND GEOGRAPHIC INFORMATION - Schedule of Total Revenue by Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $859.5M | $822.7M | $829.5M | $914.5M | $855.6M | $831.3M | $891.8M | $909.9M | $986.8M | $1.16B |
| Cost of revenue | $177.0M | $178.7M | $187.4M | $223.1M | $214.2M | $222.1M | $242.2M | $254.1M | $271.9M | $346.1M |
| Gross profit | $682.5M | $643.9M | $642.0M | $691.4M | $641.4M | $609.2M | $649.6M | $655.8M | $714.9M | $816.0M |
| R&D | $159.5M | $152.9M | $161.2M | $176.2M | $171.1M | $179.2M | $188.3M | $203.6M | $215.1M | $232.7M |
| SG&A | $103.2M | $96.7M | $95.9M | $103.5M | $97.7M | $89.0M | $100.0M | $93.6M | $109.5M | $118.4M |
| Total operating expenses | $572.7M | $1.01B | $791.9M | $613.8M | $592.8M | $572.1M | $632.0M | $727.4M | $718.9M | $753.9M |
| Operating income | $109.8M | -$367.6M | -$149.8M | $77.7M | $48.6M | $37.1M | $17.6M | -$71.6M | -$4.1M | $62.1M |
| Interest expense | $1.7M | $7.2M | $8.7M | $10.2M | $8.0M | $10.9M | $20.6M | $26.1M | $12.6M | $9.2M |
| Pre-tax income | $118.5M | -$365.8M | -$144.5M | $68.4M | $42.9M | $22.3M | $1.9M | -$92.9M | -$18.7M | $52.2M |
| Income tax | $23.0M | $1.1M | $3.2M | $8.8M | $7.0M | $3.0M | $4.7M | $19.6M | $98.5M | $18.9M |
| Net income | $95.5M | -$366.9M | -$147.7M | $59.6M | $35.9M | $19.4M | -$2.8M | -$73.3M | $79.8M | $33.3M |
| EPS, basic | 1.33 | -5.12 | -2.07 | 0.83 | 0.48 | 0.26 | -0.04 | -0.93 | 0.91 | 0.36 |
| EPS, diluted | 1.30 | -5.12 | -2.07 | 0.82 | 0.48 | 0.26 | -0.04 | -0.93 | 0.90 | 0.36 |
| Shares, diluted (wtd. avg.) | 73.4M | 71.6M | 71.5M | 73.0M | 75.1M | 73.8M | 75.2M | 78.6M | 88.3M | 92.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $586.5M | $457.4M | $389.7M | $386.8M | $636.2M | $467.2M | $338.5M | $409.6M | $369.8M | $304.9M |
| Short-term investments | — | — | — | $32.2M | $67.0M | $9.3M | $48.0M | $76.3M | $77.9M | $137.9M |
| Receivables | $151.5M | $163.7M | $192.1M | $143.9M | $148.2M | $197.7M | $213.5M | $235.3M | $213.4M | $294.4M |
| Inventory | $13.3M | $12.9M | $14.1M | $18.0M | $28.2M | $22.8M | $22.2M | $26.3M | $34.8M | $40.0M |
| Total current assets | $867.9M | $713.2M | $672.5M | $617.4M | $921.9M | $722.5M | $659.7M | $801.2M | $752.4M | $854.5M |
| Property, plant and equipment | $23.6M | $21.5M | $26.5M | $34.7M | $41.3M | $48.5M | $57.7M | $59.0M | $52.5M | $61.4M |
| Goodwill | $1.07B | $1.08B | $1.50B | $1.72B | $1.72B | $1.72B | $1.73B | $1.72B | $1.71B | $1.72B |
| Other intangibles | $214.3M | $258.7M | $308.7M | $366.6M | $433.4M | $511.9M | $582.2M | $669.1M | $831.4M | $931.3M |
| Total assets | $2.35B | $2.19B | $2.60B | $2.82B | $3.19B | $3.09B | $3.12B | $3.27B | $3.37B | $3.60B |
| Accounts payable | $23.5M | $18.2M | $14.5M | $16.5M | $22.0M | $18.0M | $20.0M | $24.6M | $30.1M | $37.4M |
| Total current liabilities | $470.1M | $407.9M | $395.1M | $453.6M | $476.2M | $411.3M | $399.0M | $379.9M | $413.3M | $460.2M |
| Long-term debt | — | $0 | $100.0M | $100.0M | $350.0M | $350.0M | $450.0M | $550.0M | $600.0M | $300.0M |
| Total liabilities | $705.3M | $626.2M | $703.2M | $790.9M | $1.13B | $1.08B | $1.18B | $1.20B | $1.30B | $1.17B |
| Retained earnings | $51.1M | -$44.4M | $322.5M | $470.2M | $410.6M | $374.7M | $355.3M | $358.1M | $396.5M | $316.7M |
| Total equity | $1.65B | $1.56B | $1.89B | $2.03B | $2.06B | $2.01B | $1.94B | $2.07B | $2.07B | $2.44B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $294.5M | $217.7M | $58.8M | $156.7M | $296.0M | $213.9M | $225.0M | $149.8M | $222.5M | $226.8M |
| Depreciation and amortisation | $56.5M | $63.8M | $75.0M | $85.9M | $95.8M | $105.8M | $116.1M | $137.9M | $153.5M | $160.9M |
| Stock-based compensation | $59.9M | $64.8M | $70.8M | $62.0M | $56.1M | $51.9M | $50.9M | $56.3M | $47.3M | $39.2M |
| Capital expenditure | $9.1M | $5.4M | $6.4M | $10.5M | $10.3M | $12.0M | $19.9M | $23.4M | $15.9M | $29.7M |
| Investing cash flow | -$92.8M | -$7.0M | $13.4M | $15.3M | -$68.4M | $24.7M | -$4.3M | -$26.3M | $57.1M | -$41.6M |
| Financing cash flow | -$76.7M | -$142.0M | -$69.4M | -$419.4M | -$54.2M | -$118.3M | -$286.9M | -$79.3M | -$221.0M | -$89.6M |
| Buybacks | $60.8M | $25.3M | $50.0M | $150.0M | $35.7M | $3.3M | $175.0M | $14.5M | $501.3M | $80.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-316095.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.16B | $986.8M | $909.9M | $891.8M | $831.3M | $855.6M | $914.5M | $829.5M | $822.7M | $859.5M |
| Gross profit | $816.0M | $714.9M | $655.8M | $649.6M | $609.2M | $641.4M | $691.4M | $642.0M | $643.9M | $682.5M |
| Net income | $33.3M | $79.8M | -$73.3M | -$2.8M | $19.4M | $35.9M | $59.6M | -$147.7M | -$366.9M | $95.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed Form 10-K
- Results announced Item 2.02
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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