Here are 1-2 brief analogies for NetScout Systems (NTCT):

• Datadog for deep network performance and security monitoring.
• Splunk for network data analytics and threat detection.

NetScout Systems (NTCT) Major Products and Services:

• Service Assurance Solutions: These solutions provide comprehensive visibility and analytics to monitor, troubleshoot, and ensure optimal performance of applications and services across complex IT environments.
• Cybersecurity Solutions: NetScout offers advanced threat detection, incident response, and Distributed Denial of Service (DDoS) protection by leveraging deep packet inspection and network traffic analysis.
• Packet Flow Systems (Smart Data Technology): These systems deliver the underlying technology and platforms for intelligent collection, processing, and analysis of network packet data, essential for their assurance and security offerings.

NetScout Systems (NTCT) primarily sells its network performance management, cybersecurity, and service assurance solutions to other companies (B2B).

While NetScout Systems serves a broad range of organizations globally, it does not publicly disclose the names of individual major customers in its financial filings or investor relations materials. Instead, it categorizes its customer base into the following broad types of organizations:

• Large Enterprises: This category encompasses major corporations across diverse sectors, including financial services, technology, manufacturing, healthcare, and retail. These enterprises utilize NetScout's solutions to ensure the performance, availability, and security of their critical IT infrastructure and applications.
• Service Providers: This includes telecommunications mobile operators (e.g., for 5G network monitoring and optimization), cable operators, and managed service providers. These customers rely on NetScout for network visibility, service assurance, and to enhance subscriber experience.
• Government Entities: Federal, state, and local government agencies are also key customers, leveraging NetScout's technology for secure and efficient network operations, critical infrastructure protection, and digital transformation initiatives.

Anil Singhal Co-founder, President, Chief Executive Officer, and Chairman of the Board

Anil Singhal co-founded NetScout in June 1984 as Frontier Software and has served as CEO since its inception. He has guided NetScout through substantial growth, including its initial public offering in 1999 and the $2.3 billion acquisition of the Danaher Communications Business in 2015. Prior to co-founding NetScout, Mr. Singhal was a Project Manager and Senior Architect at Wang Laboratories, Inc. from 1979 to 1984. Wang Laboratories was later acquired by Getronics BV in 1999.

Anthony Piazza Executive Vice President, Chief Financial Officer (Effective May 31, 2025)

Anthony Piazza is set to become the Executive Vice President and Chief Financial Officer of NetScout Systems, effective May 31, 2025.

Sanjay Munshi Chief Operating Officer (Effective May 31, 2025)

Sanjay Munshi will assume the role of Chief Operating Officer for NetScout Systems, effective May 31, 2025.

Jean Bua Executive Vice President, Chief Financial Officer, and Treasurer (Stepping down May 31, 2025)

Jean Bua has served as Executive Vice President, Chief Financial Officer, and Treasurer of NetScout Systems since 2015. Her previous roles at NetScout include Chief Accounting Officer and Vice President of Finance from 2010 to 2011. Before rejoining NetScout, she was the Executive Vice President of Finance and Treasurer of American Tower Corporation from 2009 to 2010, and earlier, she served as Senior Vice President, Chief Accounting Officer, and Worldwide Controller at Iron Mountain, Inc. Ms. Bua is stepping down from her role effective May 31, 2025.

Michael Szabados Vice Chairman

Michael Szabados currently serves as Vice Chairman for NetScout Systems. He previously held the position of Chief Operating Officer from April 2007 to May 2025, playing a critical role in the company's growth, including the acquisition of the Danaher Communications Business in 2015. Prior to joining NetScout in 1997, Mr. Szabados held senior leadership roles at companies such as UB Networks, SynOptics/Bay Networks, and MIPS Corporation, following earlier engineering and product management roles at Intel Corporation and Apple. UB Networks was acquired by Alcatel Networks Corp. in 1997. Mr. Szabados will be stepping down from his COO role effective May 31, 2025.

The rapid adoption and market dominance of cloud-native, SaaS-based observability and monitoring platforms pose a clear emerging threat. Companies like Datadog, Dynatrace, and Splunk (with its observability suite) offer integrated solutions for application performance monitoring (APM), infrastructure monitoring, log management, and security analytics, often with a focus on ease of deployment, scalability, and unified visibility in modern, distributed, and multi-cloud environments. This trend directly challenges NetScout's traditional service assurance and network performance management solutions, particularly as enterprises accelerate their cloud migration and adopt microservices architectures. These cloud-native competitors are capturing significant market share by offering flexible, subscription-based models and solutions inherently designed for the complexities of modern cloud infrastructure, potentially displacing or limiting the growth of traditional on-premises or less cloud-integrated offerings.

NetScout Systems (NTCT) operates in several key addressable markets, including cybersecurity, network performance monitoring, and telecom service assurance.

• Cybersecurity Solutions: The global cybersecurity market was estimated at USD 245.62 billion in 2024 and is projected to reach USD 500.70 billion by 2030, with a compound annual growth rate (CAGR) of 12.9% from 2025 to 2030. North America is a dominant region in this market, holding a market share of over 34% in 2024.
• Network Performance Monitoring (NPM): The global network monitoring market was valued at USD 3.71 billion in 2024. This market is projected to grow to USD 8.24 billion by 2032, exhibiting a CAGR of 10.4% during the forecast period. In 2024, North America held the largest share of this market, at 42.32%.
• Telecom Service Assurance: The global Telecom Service Assurance Market was valued at USD 4.82 billion in 2024. It is projected to reach USD 20.85 billion by 2034, growing at a robust CAGR of 15.49% during 2025–2034. North America is expected to maintain the largest market share in the global telecom service assurance market.
• 5G Network and Service Assurance: The global 5G network and assurance market is projected to attain a market size of US$5.027 billion in 2025 and grow to US$7.027 billion by 2030, at a CAGR of 6.93%.

NetScout Systems (NTCT) is positioned for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market trends. These include continued strength in its cybersecurity offerings, AI-driven product innovation, expansion of its service assurance portfolio, and robust demand from the federal government sector.

Here are 3-5 expected drivers of future revenue growth for NetScout Systems:

1. Growth in Cybersecurity Solutions: NetScout is experiencing significant growth in its cybersecurity segment, with revenue in this area showing strong year-over-year increases. For instance, cybersecurity revenue grew by 18.3% in Q1 FY26 and continued double-digit growth in Q2 FY26. The company is focused on enhancing its cybersecurity offerings, including new cyber intelligence, to meet the evolving threat landscape.
2. AI-driven Product Innovation and Smart Data Integration: A key strategic initiative for NetScout is the integration of Artificial Intelligence (AI) into its products to drive innovation. The company has emphasized its differentiation by "feeding smart data to algorithms in a unique way" and has introduced new AI-driven product enhancements. This focus aims to provide advanced solutions and maintain a competitive edge.
3. Expansion of Service Assurance Offerings and AIOps: NetScout continues to expand its service assurance capabilities, which also contributed to revenue growth, with service assurance revenue increasing by 10.1% in the first half of fiscal year 2026. The company is investing in AIOps (AI operations) and edge instrumentation, recognizing the growing interest from customers in these areas. Enterprise customers are increasingly investing in digital transformation initiatives that require enhanced visibility, observability, and AIOps.
4. Increased Demand from the Federal Government Sector: The federal government has emerged as a particularly strong customer vertical for NetScout, demonstrating robust underlying demand and an acceleration of orders in the first half of FY26. This sector has been a significant contributor to recent strong financial results.
5. Strategic Shift Towards Software-Related Sales: NetScout is undergoing a strategic transition towards a higher proportion of software-related sales. This shift, while also contributing to improved gross margins, implies an increase in scalable software revenue within the company's overall sales mix, supporting sustained growth.

Share Repurchases

• NetScout Systems utilized $56.92 million to repurchase 2,737,970 shares of its common stock during the first quarter of fiscal year 2026, which ended on August 7, 2025.
• During the second quarter of fiscal year 2026, which ended September 30, 2025, NetScout repurchased approximately 741,000 shares for an aggregate of $16.6 million.
• As of September 30, 2024, the company had completed repurchases of 1,976,721 shares for $41.9 million under a buyback plan announced on May 5, 2022. NetScout intends to remain active in the market for share repurchases during the remainder of fiscal year 2026, leveraging its existing authorization capacity.

Share Issuance

• NetScout Systems expanded its 2019 Equity Incentive Plan in September 2024, adding 3.4 million shares authorized for issuance to align employee interests with shareholders.
• The weighted average diluted shares outstanding have remained relatively stable, fluctuating around 71 to 73 million shares from Q4 2022 to Q3 2025.
• As of January 30, 2025, the number of outstanding common shares was 71,754,689.

Outbound Investments

• In February 2020, NetScout acquired Gigavation, a cybersecurity company, for $8.0 million.
• The company divested its Test Optimization business in September 2023 for $8.3 million.
• NetScout completed the sale of a foreign investment on August 4, 2025, for $11.8 million, which had an original purchase price of $7.5 million.

Capital Expenditures

• Capital investments in property, plant, and equipment have ranged modestly from approximately $1.0 million to $3.5 million per quarter between Q4 2022 and Q3 2025.
• For the six months ended September 30, 2025, $4.1 million was used for capital expenditures.
• The company plans to continue investing in capital expenditures to support its infrastructure through the remainder of fiscal year 2026.