NETSCOUT SYSTEMS INC. Files 2024 10-K Report

TL;DR

<b>NETSCOUT SYSTEMS INC. has submitted its 2024 10-K annual report detailing financial performance and company information for the fiscal year ending March 31, 2024.</b>

AI Summary

NETSCOUT SYSTEMS INC (NTCT) filed a Annual Report (10-K) with the SEC on May 16, 2024. NETSCOUT SYSTEMS INC. filed its annual 10-K report for the fiscal year ending March 31, 2024. The filing covers the period from April 1, 2023, to March 31, 2024. The company's principal executive offices are located at 310 Littleton Road, Westford, MA 01886. The filing includes financial data for fiscal years 2021, 2022, and 2023. Key financial statement components such as Common Stock, Additional Paid-In Capital, Accumulated Other Comprehensive Income, Treasury Stock, and Retained Earnings are detailed for multiple fiscal year-ends.

Why It Matters

For investors and stakeholders tracking NETSCOUT SYSTEMS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of NETSCOUT's financial health and operational status for the fiscal year 2024, which is crucial for investors to assess performance and future outlook. The detailed financial data and segment information within the report allow stakeholders to understand revenue streams, profitability, and asset management, aiding in investment decisions.

Risk Assessment

Risk Level: medium — NETSCOUT SYSTEMS INC shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for public companies. However, the absence of specific financial performance metrics like revenue or net income in the provided snippet necessitates a medium risk assessment as a full analysis requires deeper examination of the complete document.

Analyst Insight

Investors should review the full 10-K filing to analyze NETSCOUT's financial statements, management discussion, and risk factors to make informed investment decisions.

Revenue Breakdown

Key Numbers

• 20240331 — Fiscal Year End (Fiscal Year End)
• 000-26251 — SEC File Number (SEC File Number)
• 24955544 — Film Number (Film Number)
• 0331 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• NETSCOUT SYSTEMS INC (company) — Filer name
• 0001628280-24-023777 (other) — Accession Number
• 20240331 (date) — Conformed Period of Report
• 20240516 (date) — Filed as of Date
• 0001078075 (company) — Central Index Key
• DE (other) — State of Incorporation
• 310 LITTLETON ROAD (other) — Business Address Street 1
• WESTFORD (other) — Business Address City

FAQ

Key Dates

• 2024-03-31: Fiscal Year End — End of the reporting period for the 10-K
• 2024-05-16: Filing Date — Date the 10-K was officially filed with the SEC

Key Financial Figures

• $0.001 — nge on which registered: Common Stock, $0.001 par value per share NTCT Nasdaq Global

Filing Documents

• ntct-20240331.htm (10-K) — 2183KB
• ntctex19insidertradingandt.htm (EX-19) — 69KB
• ntct-ex21_2024331.htm (EX-21) — 38KB
• ntct-ex23_2024331.htm (EX-23) — 2KB
• ntct-ex311_2024331.htm (EX-31.1) — 10KB
• ntct-ex312_2024331.htm (EX-31.2) — 10KB
• ntct-ex321_2024331.htm (EX-32.1) — 6KB
• ntct-ex322_2024331.htm (EX-32.2) — 6KB
• ntct-ex97clawbacknetscoute.htm (EX-97) — 32KB
• ntct-20240331_g1.jpg (GRAPHIC) — 88KB
• 0001628280-24-023777.txt (&nbsp;) — 11613KB
• ntct-20240331.xsd (EX-101.SCH) — 71KB
• ntct-20240331_cal.xml (EX-101.CAL) — 129KB
• ntct-20240331_def.xml (EX-101.DEF) — 315KB
• ntct-20240331_lab.xml (EX-101.LAB) — 960KB
• ntct-20240331_pre.xml (EX-101.PRE) — 664KB
• ntct-20240331_htm.xml (XML) — 1658KB

Risk Factors

Item 1A. Risk Factors 16

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 31

Cybersecurity

Item 1C. Cybersecurity 31

Properties

Item 2. Properties 32

Legal Proceedings

Item 3. Legal Proceedings 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32 PART II

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 33

[Reserved ]

Item 6. [Reserved ] 35

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 52

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 53

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 53

Controls and Procedures

Item 9A. Controls and Procedures 53

Other Information

Item 9B. Other Information 54

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 54 PART III

Directors and Executive Officers of the Registrant

Item 10. Directors and Executive Officers of the Registrant 55

Executive Compensation

Item 11. Executive Compensation 55

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 55

Certain Relationships and Related Transactions

Item 13. Certain Relationships and Related Transactions 55

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 55 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 56

Form 10-K Summary

Item 16. Form 10-K Summary 59

Signatures

Signatures 60 Unless the context suggests otherwise, references in this Annual Report on Form 10-K (Annual Report) to "NetScout," the "Company," "we," "us," and "our" refer to NetScout Systems, Inc. and, where appropriate, our consolidated subsidiaries. NetScout, the NetScout logo, Adaptive Service Intelligence and other trademarks or service marks of NetScout appearing in this Annual Report are the property of NetScout Systems, Inc. and/or its subsidiaries and/or affiliates in the United States and/or other countries. Any third-party trade names, trademarks and service marks appearing in this Annual Report are the property of their respective holders. Table of Contents Cautionary Statement Concerning Forward-Looking Statements This Annual Report contains forward-looking statements under Section 21E of the Exchange Act (as defined below) and other federal securities laws. These statements relate to future events or our future financial performance and are identified by terminology such as "may," "will," "could," "should," "expects," "plans," "intends," "seeks," "anticipates," "believes," "estimates," "potential" or "continue," or the negative of such terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on these forward-looking statements. Actual events or results may differ materially. Factors that may cause such differences include, but are not limited to, the factors discussed under the heading "Risk Factors" and in our other filings with the Securities and Exchange Commission (SEC). These factors may cause our actual results to differ materially from any forward-looking statement. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual result

Business

Item 1. Business Overview We are an industry leader with nearly four decades of experience in providing service assurance and cybersecurity solutions that are based on our pioneering deep packet inspection technology at scale, which are 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. With our offerings, customers can quickly, efficiently and effectively identify and resolve issues that result in downtime, interruptions to services, poor service quality or compromised data, thereby reducing meantime-to-resolution of issues and driving compelling returns on their investments in their networks and broader technology initiatives. Some of the more significant technology trends and catalysts for our business include the evolution of customers' digital transformation initiatives such as the migration to "edge" environments, like the cloud, the rapidly evolving cybersecurity threat landscape, business intelligence and analytics advancements, including artificial intelligence, and the 5G technology evolution for both the service provider and enterprise customer verticals. Our operating results are influenced by a number of factors, including, but not limited to, the volume, mix, and quantity of products and services sold, pricing, costs and availability of materials used in our products, growth in employee-related costs, including commissions, and the expansion of our operations. Factors that affect our ability to maximize our operating results include, but are not limited to, our ability to introduce new products and services, enhance existing products and servi

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View this 10-K filing on SEC EDGAR