NTCT

MKT CAP:$2B

NetScout Systems, Inc.

Market Cap

$2B

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$32.59+$5.74 (+21.38%)

Apr 23, 2026

Company Details

NetScout Systems, Inc. provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management softwa...

CEO

Anil K. Singhal

IPO Date

Aug 12, 1999

Website

www.netscout.com

Key Metrics TTM

Revenue

$861M

+4.9% YoY

Net Income

$96M

EPS (Diluted)

$1.31

Free Cash Flow

$275M

Revenue / Share

$12.01

Gross Margin

79.2%

Operating Margin

12.8%

Net Margin

11.1%

FCF Margin

32.0%

P/S

2.8x

P/E

25.0x

Earnings Reports

Q4 2026

May 14, 2026

PENDING

Q3 2026

Feb 5, 2026

$251M-0.5%EPS $0.75

Q2 2026

Nov 6, 2025

$219M+14.6%EPS $0.36

Q1 2026

Aug 7, 2025

$187M+7.0%EPS -$0.05

FY 2025

May 15, 2025

$823M-0.8%EPS -$5.06

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$191M	$144M	-$8M
Q1 23	$209M	$151M	-$9M
Q2 23	$228M	$170M	$21M
Q3 23	$270M	$213M	$64M
Q4 23	$208M	$157M	$2M
Q1 24	$211M	$161M	-$5M
Q2 24	$197M	$154M	$26M
Q3 24	$218M	$174M	-$134M
Q4 24	$203M	$153M	-$37M
Q1 25	$175M	$130M	-$463M
Q2 25	$191M	$149M	$14M
Q3 25	$252M	$205M	$62M
Q4 25	$205M	$159M	$20M
Q1 26	$187M	$143M	-$7M
Q2 26	$219M	$175M	$32M
Q3 26	$251M	$205M	$64M

Valuation

Quarter	P/S	P/E
Q4 22	2.8x	66.7x
Q1 23	2.7x	59.7x
Q2 23	2.7x	48.3x
Q3 23	2.7x	44.0x
Q4 23	2.6x	40.1x
Q1 24	2.6x	38.3x
Q2 24	2.7x	35.9x
Q3 24	2.9x	—
Q4 24	2.9x	—
Q1 25	3.0x	—
Q2 25	3.0x	—
Q3 25	2.9x	—
Q4 25	2.9x	—
Q1 26	2.9x	32.9x
Q2 26	2.8x	26.7x
Q3 26	2.8x	25.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$156M	$152M
Q1 23	-$13M	-$15M
Q2 23	$10M	$7M
Q3 23	$46M	$43M
Q4 23	$113M	$111M
Q1 24	-$22M	-$24M
Q2 24	-$26M	-$28M
Q3 24	$14M	$13M
Q4 24	$94M	$92M
Q1 25	$38M	$37M
Q2 25	-$4M	-$5M
Q3 25	$41M	$40M
Q4 25	$142M	$140M
Q1 26	$74M	$72M
Q2 26	$7M	$4M
Q3 26	$62M	$59M

Capital Expenditures

Quarter	CapEx
Q4 22	$3M
Q1 23	$2M
Q2 23	$3M
Q3 23	$3M
Q4 23	$2M
Q1 24	$2M
Q2 24	$2M
Q3 24	$1M
Q4 24	$2M
Q1 25	$1M
Q2 25	$882.0K
Q3 25	$2M
Q4 25	$1M
Q1 26	$2M
Q2 26	$2M
Q3 26	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	-10.4%	+1.1%
Q1 23	+9.7%	+8.5%
Q2 23	+7.6%	+3.5%
Q3 23	+2.8%	-0.5%
Q4 23	+8.8%	+3.5%
Q1 24	+1.1%	-1.0%
Q2 24	-13.7%	-17.5%
Q3 24	-19.1%	+71.3%
Q4 24	-2.2%	+16.5%
Q1 25	-17.3%	+195.5%
Q2 25	-2.9%	+3.8%
Q3 25	+15.6%	-46.0%
Q4 25	+0.8%	-23.0%
Q1 26	+7.0%	-69.7%
Q2 26	+14.6%	+5.4%
Q3 26	-0.5%	-2.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$13M	6.6%
Q1 23	$16M	7.5%
Q2 23	$17M	7.2%
Q3 23	$15M	5.6%
Q4 23	$15M	7.1%
Q1 24	$20M	9.4%
Q2 24	$18M	9.4%
Q3 24	$16M	7.5%
Q4 24	$16M	7.9%
Q1 25	$21M	12.1%
Q2 25	$15M	7.8%
Q3 25	$15M	5.8%
Q4 25	$0	0.0%
Q1 26	$20M	10.7%
Q2 26	$14M	6.2%
Q3 26	$14M	5.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 22	$42M	$28M	$67M
Q1 23	$43M	$25M	$76M
Q2 23	$44M	$25M	$66M
Q3 23	$43M	$26M	$67M
Q4 23	$46M	$28M	$67M
Q1 24	$46M	$28M	$79M
Q2 24	$35M	$23M	$61M
Q3 24	$37M	$23M	$69M
Q4 24	$44M	$22M	$62M
Q1 25	$42M	$26M	$70M
Q2 25	$36M	$24M	$61M
Q3 25	$38M	$23M	$70M
Q4 25	$37M	$24M	$67M
Q1 26	$40M	$28M	$71M
Q2 26	$40M	$26M	$65M
Q3 26	$40M	$24M	$65M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q4 22	-10.4%	8.4%	-2.0
Q1 23	9.7%	6.2%	16.0
Q2 23	7.6%	18.8%	26.4
Q3 23	2.8%	31.5%	34.3
Q4 23	8.8%	11.4%	20.3
Q1 24	1.1%	8.9%	10.0
Q2 24	-13.7%	22.0%	8.3
Q3 24	-19.1%	-50.6%	-69.7
Q4 24	-2.2%	-6.2%	-8.5
Q1 25	-17.3%	-247.9%	-265.2
Q2 25	-2.9%	17.2%	14.3
Q3 25	15.6%	31.1%	46.6
Q4 25	0.8%	16.9%	17.6
Q1 26	7.0%	7.8%	14.8
Q2 26	14.6%	22.2%	36.8
Q3 26	-0.5%	31.0%	30.5

Rule of 40

Revenue Segments

Quarter	Product	Service
Q4 22	$82M	$109M
Q1 23	$98M	$111M
Q2 23	$112M	$116M
Q3 23	$149M	$120M
Q4 23	$91M	$117M
Q1 24	$95M	$116M
Q2 24	$81M	$116M
Q3 24	$96M	$122M
Q4 24	$89M	$114M
Q1 25	$61M	$113M
Q2 25	$81M	$110M
Q3 25	$128M	$124M
Q4 25	$90M	$115M
Q1 26	$73M	$114M
Q2 26	$95M	$124M
Q3 26	$122M	$129M

Revenue by Geography

Quarter	Asia	Europe	Rest Of World	United States
Q4 22	$18M	$43M	$28M	$102M
Q1 23	$14M	$34M	$27M	$135M
Q2 23	$16M	$35M	$32M	$146M
Q3 23	$15M	$36M	$37M	$181M
Q4 23	$17M	$41M	$29M	$122M
Q1 24	$16M	$34M	$33M	$128M
Q2 24	$15M	$32M	$34M	$115M
Q3 24	$17M	$45M	$32M	$124M
Q4 24	$17M	$35M	$47M	$103M
Q1 25	$12M	$31M	$31M	$100M
Q2 25	$17M	$32M	$31M	$111M
Q3 25	$18M	$47M	$33M	$154M
Q4 25	$16M	$47M	$42M	$100M
Q1 26	$15M	$31M	$40M	$101M
Q2 26	$15M	$34M	$39M	$131M
Q3 26	$15M	$49M	$45M	$141M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$636M	$67M	$703M
Q1 23	$333M	$42M	$375M
Q2 23	$320M	$47M	$367M
Q3 23	$352M	$57M	$409M
Q4 23	$387M	$32M	$419M
Q1 24	$333M	$52M	$385M
Q2 24	$280M	$49M	$329M
Q3 24	$298M	$31M	$329M
Q4 24	$390M	$33M	$423M
Q1 25	$362M	$44M	$406M
Q2 25	$363M	$38M	$401M
Q3 25	$398M	$29M	$427M
Q4 25	$457M	$34M	$491M
Q1 26	$490M	$43M	$533M
Q2 26	$483M	$33M	$517M
Q3 26	$541M	$32M	$573M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	74M	-1.3%	-1.1%
Q1 23	72M	-2.0%	-1.9%
Q2 23	73M	+0.6%	-2.9%
Q3 23	73M	+0.2%	-2.5%
Q4 23	71M	-2.7%	-3.9%
Q1 24	72M	+0.7%	-1.3%
Q2 24	73M	+1.8%	-0.1%
Q3 24	71M	-2.4%	-2.7%
Q4 24	71M	+0.1%	+0.1%
Q1 25	71M	+0.4%	-0.1%
Q2 25	72M	+0.5%	-1.3%
Q3 25	73M	+1.0%	+2.1%
Q4 25	73M	0.0%	+2.0%
Q1 26	72M	-1.2%	+0.4%
Q2 26	72M	0.0%	-0.2%
Q3 26	72M	0.0%	-1.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$82.0K	2K
Q1 23	$89.6K	2K
Q2 23	$97.8K	2K
Q3 23	$115.6K	2K
Q4 23	$88.4K	2K
Q1 24	$89.7K	2K
Q2 24	$83.6K	2K
Q3 24	$92.6K	2K
Q4 24	$88.6K	2K
Q1 25	$76.0K	2K
Q2 25	$83.2K	2K
Q3 25	$109.8K	2K
Q4 25	$96.6K	2K
Q1 26	$88.0K	2K
Q2 26	$103.2K	2K
Q3 26	$118.1K	2K

Revenue / Employee