NetScout : Conference Call Prepared Remarks

NETSCOUT SYSTEMS, Q3FY21 Results, Management's Prepared Remarks, 1/28/2021

NETSCOUT SYSTEMS, INC.

Third-Quarter Fiscal Year 2021 Financial Results Conference Call

Management's Prepared Remarks

January 28, 2021

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NETSCOUT SYSTEMS, Q3FY21 Results, Management's Prepared Remarks, 1/28/2021

Tony Piazza: Introduction

Thank you, operator, and good morning everyone. Welcome to NETSCOUT's third- quarter fiscal year 2021 conference call for the period ended December 31, 2020. Joining me today are:

• Anil Singhal, NETSCOUT's president and chief executive officer;
• Michael Szabados, NETSCOUT's chief operating officer; and
• Jean Bua, NETSCOUT's executive vice president and chief financial officer.

There is a slide presentation that accompanies our prepared remarks. You can advance the slides in the webcast viewer to follow our commentary. Both the slides and the prepared remarks can be accessed in multiple areas within the investor relations section of our website at www.netscout.com,including the IR landing page under financial results, the webcast itself, and under financial information on the quarterly results page.

Slide #3: Safe Harbor Statement

Moving on to slide number 3, today's conference call will include forward-looking statements. These statements may be prefaced by words such as "anticipate," "believe," and "expect" and will cover a range of topics that are not strictly historical facts such as our outlook, our market opportunities and market share, key business initiatives and future product plans, along with their potential impact on our financial performance. These forward-looking statements involve risks and uncertainties and actual results could differ materially from the forward-looking statements due to known and unknown risks, uncertainties, assumptions and other factors, which are described on this slide, in today's financial results press release, as well as in the Company's Annual Report on Form 10-K for the year ended March 31, 2020

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NETSCOUT SYSTEMS, Q3FY21 Results, Management's Prepared Remarks, 1/28/2021

and subsequent quarterly reports on Form 10-Q. NETSCOUT assumes no obligation to update any forward-looking information contained in this communication or with respect to the announcements described herein.

Slide #4: Non-GAAP Reconciliation

Let's turn to slide number 4, which involves non-GAAP metrics. While this slide presentation includes both GAAP and Non-GAAP results, unless otherwise stated, financial information discussed on today's conference call will be on a non-GAAP basis only. The rationale for providing non-GAAP measures along with the limitations of relying solely on those measures is detailed on this slide and in today's press release. These measures should not be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP.

Reconciliations of all non-GAAP metrics with the applicable GAAP measures are provided in the appendix of the slide presentation, in today's earnings press release, and are available on our website.

I will now turn the call over to Anil for his prepared remarks. Anil …

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NETSCOUT SYSTEMS, Q3FY21 Results, Management's Prepared Remarks, 1/28/2021

Slide #5: CEO Perspective

Anil Singhal:

Thank you, Tony. Good morning everybody and thank you for joining us. Let's begin on slide number 6 with a brief recap of our third-quarternon-GAAP results.

Slide #6: Q3'21 Financial Results

• We are generally pleased with our third-quarter results. They contributed to our strong year-to-date earnings per share growth over the same period in the prior fiscal year.
• Revenue for the quarter was 228.7 million dollars.
• Earnings per share was 66 cents in the quarter.
• The quarter had solid gross and operating margins of 78.6 percent and 28.2 percent, respectively. This was attributable to high-margin security product performance and reduced expenses from our continued cost control focus and benefits from pandemic related restrictions on travel and events.
• Today we are narrowing our revenue range and increasing our EPS outlook as a result of our year-to-date performance.

Let's move to slide 7 for some further perspective on market trends and business insights.

Slide #7: Market Trends and Business Insights

From a market perspective, our offerings are being well received given our ability to provide service assurance, with real-time, pervasive visibility and insight. Our security solutions mitigate disruption for our customers, and all of our products provide solutions regardless of the customer's underlying infrastructure. This is important as customers further safeguard their

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