NETSCOUT Systems, Inc. (Nasdaq: NTCT) provides network observability, service assurance and cybersecurity products and services, including distributed denial-of-service protection, to enterprises, telecommunications providers and government agencies.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Mar 31, 20240001628280-24-023777 | May 16, 2024 | 10-K | Open 10-Ksec.gov |
| Mar 31, 20250001628280-25-025982 | May 15, 2025 | 10-K | Open 10-Ksec.gov |
| Mar 31, 20260001078075-26-000050 | May 14, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
NETSCOUT’s recovery combines stronger operating performance with a much easier accounting comparison. Fiscal 2026 revenue reached $859.482 million and GAAP net income returned to $95.531 million, but the disappearance of the previous year’s $426.967 million goodwill impairment explains most of the earnings turnaround. Software mix, services growth and lower restructuring costs also helped. Operating cash flow strengthened, supported substantially by working-capital movements rather than profit alone. After the latest annual filing, first-quarter fiscal 2027 sales benefited partly from early government orders, while operating cash flow declined despite higher earnings. The completed DigiCert DDoS acquisition expands infrastructure control, but its purchase accounting and expected benefits remain preliminary. As of the supplied October 24, 2026 view, substantial liquidity and an undrawn revolver provide flexibility; telecom spending constraints, equity compensation and goodwill exposure remain important qualifications.
Sources: 10-K · 2026-03-31 · 10-Q · 2026-06-30 · EX-99.1 · 2026-08-06
NETSCOUT turns network-packet data into information customers use to diagnose performance problems and detect or mitigate threats. Delivery spans appliances, software, virtual deployments and cloud services, with maintenance, support and professional services complementing product sales. Services represented 57% of fiscal 2026 revenue, but that category is not equivalent to subscription revenue or annual recurring revenue. Service assurance and cybersecurity are product lines within one reportable segment; separate product-line profits are not disclosed.
The economics depend on software mix, installed-customer support and technically intensive selling. Sales cycles typically last three to twelve months, and bookings historically favor the second half of the fiscal year. Resellers extend distribution, but revenue recognition on transfer to a reseller does not necessarily coincide with final customer deployment.
Sources: 10-K · 2026-03-31
Revenue recovered to $859.482 million in the year ended March 31, 2026, from $822.679 million in fiscal 2025 and $829.455 million in fiscal 2024. Management attributed the recovery to maintenance-renewal timing and composition, cloud and subscription expansion, cybersecurity demand and government orders. Service-provider service-assurance product demand remained weak. Higher software licensing improved product gross margin; total gross profit increased to $682.494 million.
GAAP net income of $95.531 million followed a $366.922 million loss. Most of that reversal reflects the absence of fiscal 2025’s $426.967 million noncash goodwill impairment. Lower restructuring expense and stronger gross profit also helped, partly offset by incentives and taxes. Company-defined adjusted EBITDA rose to $228.148 million from $208.436 million—a more restrained improvement, but still a measure excluding economically relevant costs rather than GAAP profit or cash flow.
Sources: 10-K · 2026-03-31 · 10-K · 2025-03-31 · 10-K · 2024-03-31
Fiscal 2026 operating cash flow was $294.538 million, versus $217.670 million and $58.811 million in the preceding years. Approximately $99.8 million of fiscal 2026 working-capital inflow supported the result, including deferred revenue and accrued expenses. These timing benefits should not be treated as a permanent earnings run rate. At March 31, cash and equivalents were $586.499 million; the broader cash-and-securities total was $705.145 million.
Capital allocation included $60.799 million of program repurchases and $9.112 million of cash fixed-asset purchases. A separate $15.894 million funded employee-award tax withholding. Buybacks did not prevent basic weighted-average shares from increasing. The $600 million secured revolver was undrawn, not additional cash; leases, purchase commitments and unfunded pension obligations remained.
Sources: 10-K · 2026-03-31
The August 6, 2026 filings reported first-quarter fiscal 2027 revenue of $210.423 million, up a reported 12.7%, and GAAP net income of $21.835 million. Service assurance benefited partly from government orders arriving early; acquired revenue offset weaker enterprise cybersecurity product sales. Operating cash flow nevertheless fell to $50.770 million from $73.552 million as deferred-revenue and accrued-expense cash uses increased. The quarter’s tax benefit also supported earnings without eliminating cash tax payments.
The May 1 DigiCert DDoS acquisition preceded the annual filing but affected fiscal 2027, not fiscal 2026 cash flow. The subsequent quarterly report confirmed $55 million paid at closing, subject to adjustment, and no material acquired revenue or net-income contribution through June. On August 6, management reaffirmed fiscal 2027 revenue guidance of $885–915 million, GAAP diluted EPS of $1.55–1.70 and non-GAAP diluted EPS of $2.65–2.80. These remain forecasts.
Sources: 8-K · 2026-08-06 · EX-99.1 · 2026-08-06 · 10-Q · 2026-06-30 · 10-K · 2026-03-31
Constrained telecom budgets, government procurement timing, competition and limited-source hardware can interrupt growth. AI creates opportunities for network data while potentially tightening component supply. Goodwill remained $1.071 billion at March 2026, leaving further impairment risk despite the year’s clean comparison. NETSCOUT reported no material cybersecurity incidents to date—not an absence of incidents—and effective financial-reporting controls. Neither statement guarantees future resilience.
Sources: 10-K · 2026-03-31 · 10-Q · 2026-06-30
USD 859.482 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 859.482 m | 4.5% |
| 2025 | USD 822.679 m | -0.8% |
| 2024 | USD 829.455 m | — |
Consolidated product and service revenue.
Sources: 10-K · 2026-03-31
USD 95.531 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 95.531 m | Turned profitable |
| 2025 | USD -366.922 m | Loss widened |
| 2024 | USD -147.734 m | — |
Consolidated GAAP income after income tax expense.
Sources: 10-K · 2026-03-31
USD 294.538 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 294.538 m | 35.3% |
| 2025 | USD 217.67 m | 270.1% |
| 2024 | USD 58.811 m | — |
Operating cash flow as presented in the consolidated cash-flow statement.
Sources: 10-K · 2026-03-31
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