Ironnet Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Ironnet Inc (IRNT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Ironnet Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 24M vs 466,675M combined for its competitors (0.0% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-25.0% annualized vs trailing 12 months), vs decelerating (-29.6%) for its tracked peer group.
- Growth: Ironnet Inc generated -34.7% revenue growth year over year in Q1 2023, vs 9.7% for its competitors combined.
- Profitability: Its -138.9% net margin compares with 29.4% for the peer group.
- Peer revenue share: Ironnet Inc accounted for 0.0% of combined revenue among its tracked peer group, up from 0.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.09M compares with $0.64M for the peer group (0.1x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
IRNT Sales vs. its Competitors, Q1 2023
Ironnet Inc reported revenue contraction of 34.72 % year on year in Q1 2023, below its competitors' combined revenue growth of 9.65 %.
With a net margin of -138.86 %, Ironnet Inc reported lower profitability than its competitors (29.36 %).
Ironnet Inc generated 0.01 % of the combined sales of its peer group, up from 0.01 % a year earlier.
API endpoints for this dataset
Ironnet Inc vs. its Competitors, Q1 2023
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Ironnet Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Ironnet Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Ironnet Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Ironnet Inc's competitor groups requires a Commercial License.
For context: the Software & Programming industry grew revenue 16.7% year over year, combined, vs -34.7% for Ironnet Inc. Ironnet Inc's share of combined industry revenue moved from 0.00% to 0.00%, a gain of 0.00 percentage points.
Ironnet Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Ironnet Inc | - | No | No | No |
| Competitors combined (27) | ||||
| High-Confidence Competitors (4) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
IRNT Stock Performance relative to its Competitors
IRNT Stock Performance relative to High-Confidence Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Okta Inc | 282.9% | Outperformed |
| 2 | Blackberry Limited | 282.9% | Outperformed |
| 3 | Consensus Cloud Solutions Inc | 282.9% | Outperformed |
| 4 | Rackspace Technology Inc | 282.9% | Outperformed |
| 5 | Pitney Bowes Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Ironnet Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Ironnet Inc's Comment on Competition and Industry Peers
and we expect the competitive environment to remain intense.
Our competitors include the following by general category:
first-generation NDR vendors such as DarkTrace or Vectra Networks, who offer point products based on Bayesian analysis, outlier analysis, and heuristic detection-based detection;
network security vendors, such as Cisco and Palo Alto Networks, Inc., who are supplementing their core network security additional behavioral-based detection with behavioral-based detection, threat intelligence and security operations solutions; and
legacy network infrastructure and performance monitoring companies such as ExtraHop and Arista Networks, who are adding security use cases to their infrastructure products. We compete on the basis of a number of factors, including but not limited to our ability to:
detect advanced network threats and to prevent security breaches;
anonymously correlate and share threats in real-time across a community of peer enterprises;
share human-intelligence across a Collective Defense community on how peer enterprises have rated and triaged similar detections; and
integrate with other participants in the security ecosystem. We also compete on our:
time to value, price, and total cost of ownership;
brand awareness, reputation, and trust in our services;
strength of sales, marketing, and channel partner relationships; and
customer success, cyber hunt, and cyber advisory services.
Although some of our competitors enjoy greater resources, higher brand recognition, broader range of IT and security products, larger existing customer bases, or more mature intellectual property portfolios, we believe that we compete favorably with respect to these factors.
Publicly Traded Peers of Ironnet Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Ironnet Inc |
0.41 | 24.33 |
 Microsoft Corporation |
4,059,410.28 | 346,445.00 |
 Palo Alto Networks Inc |
252,799.96 | 11,480.00 |
 Crowdstrike Holdings Inc |
238,744.72 | 5,395.06 |
 International Business Machines Corporation |
234,671.67 | 69,868.00 |
 Okta Inc |
31,750.94 | 3,073.00 |
| SUBTOTAL | 4,872,224.91 | 467,140.07 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Ironnet Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Ironnet Inc's Competitors Named by the Company
Competitive relationships identified from Ironnet Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| DarkTrace | Company report | 85% |
| Vectra Networks | Company report | 85% |
| General Motors | Company report | 85% |
| AT&T | Company report | 85% |
| Verizon | Company report | 85% |
| Toyota | Company report | 85% |
| Crowdstrike Holdings Inc | Company report | 85% |
| Palo Alto Networks Inc | Company report | 85% |
| Sentinelone Inc | Company report | 85% |
| Blackberry Limited | Company report | 85% |
| Okta Inc | Company report | 85% |
| Cyberark Software Ltd | Company report | 85% |
| Extreme Networks Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Ironnet Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Ironnet Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Microsoft Corporation | Agents and Infra 83.22 % |
| International Business Machines Corporation | Software 45.63 % |
| Blackberry Limited | Secure Communication 48.14 % |
| Dxc Technology Co | GIS 47.03 % |
| Pitney Bowes Inc | SendTech Solutions 66.92 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Ironnet Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Ironnet Inc | 0 | 91,804 | -150,306 |
| Microsoft Corporation | 4,059,410 | 1,553,565 | 639,601 |
| Palo Alto Networks Inc | 252,800 | 523,699 | 14,005 |
| Crowdstrike Holdings Inc | 238,745 | 504,306 | 7,166 |
| International Business Machines Corporation | 234,672 | 228,850 | 36,590 |
| Okta Inc | 31,751 | 482,721 | 46,497 |
| PEERS TOTAL | 4,872,225 | 644,045 | 213,845 |
Ironnet Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Ironnet Inc | US 81.59 % |
| Microsoft Corporation | US 53.60 % |
| Palo Alto Networks Inc | United States 61.76 % |
| Crowdstrike Holdings Inc | United States 66.86 % |
| International Business Machines Corporation | Americas 50.14 % |
| Cyberark Software Ltd | US 50.30 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Ironnet Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Software & Programming industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (442 companies). See the full Software & Programming industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 44.26 % | 50.49 % (avg) | -6.2 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | - | 1.87 % (avg) | - |
| Capital Intensity (Capex / Revenue) | 4.11 % | 5.21 % (avg) | -1.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Ironnet Inc's Valuation vs Competitive Position
Valuation multiples vs the Software & Programming industry average (442 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Software & Programming industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 40.6x | - |
| EV / EBITDA | - | 20.3x | - |
| P/B | -0.3x | 5.5x | -5.8x |
| Return on Equity | - | industry aggregate | - |
| Return on Invested Capital | - | -3.24 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Ironnet Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 4.11 % vs industry average 5.21 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Ironnet Inc's dedicated Suppliers and Customers pages, not here.
Ironnet Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Latest-quarter revenue run-rate is decelerating (-25.0% annualized vs trailing 12 months).
Opportunities
- Industry revenue growing at a healthy 11.3% median pace.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-29.6% annualized).
Methodology: see Methodology: SWOT Analysis.
Ironnet Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Ironnet Inc | 0.08 | 0.31 | - |
| Microsoft Corporation | 0.16 | 1.27 | 0.10 |
| Palo Alto Networks Inc | 0.30 | 0.91 | 0.04 |
| Crowdstrike Holdings Inc | 1.21 | 1.67 | 0.16 |
| International Business Machines Corporation | 0.27 | 0.85 | 3.27 |
| Okta Inc | 0.33 | 1.46 | 0.04 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Ironnet Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Ironnet Inc | Q3 2023 | -34.7 % | - |
| Microsoft Corporation | Q3 2026 | +18.8 % | +32.0 % |
| Palo Alto Networks Inc | Q2 2026 | +34.4 % | - |
| Crowdstrike Holdings Inc | Q2 2026 | +25.9 % | - |
| International Business Machines Corporation | Q3 2026 | +4.7 % | +25.6 % |
| Okta Inc | Q2 2026 | +10.6 % | +73.1 % |
| PEERS TOTAL | +15.1 % | +29.3 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Ironnet Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Ironnet Inc | Q3 2023 | -10.7 % | -80.9 % |
| Microsoft Corporation | Q3 2026 | +23.6 % | +103.0 % |
| Palo Alto Networks Inc | Q2 2026 | +62.9 % | +19.4 % |
| Crowdstrike Holdings Inc | Q2 2026 | +20.6 % | +222.1 % |
| International Business Machines Corporation | Q3 2026 | +6.0 % | +30.2 % |
| Okta Inc | Q2 2026 | -2.4 % | +40.0 % |
Ironnet Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Ironnet Inc | - | - | - |
| Microsoft Corporation | 20.01% | 23.87% | 34.15% |
| Palo Alto Networks Inc | 0.87% | 0.81% | 1.71% |
| Crowdstrike Holdings Inc | 0.69% | 1.09% | 1.67% |
| International Business Machines Corporation | 7.26% | 7.21% | 32.73% |
| Okta Inc | 3.16% | 3.52% | 4.26% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Ironnet Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Ironnet Inc | - | 0.02 |
| Microsoft Corporation | 28.47 | 11.72 |
| Palo Alto Networks Inc | 675.29 | 22.02 |
| Crowdstrike Holdings Inc | 1,523.87 | 44.25 |
| International Business Machines Corporation | 20.95 | 3.36 |
| Okta Inc | 106.97 | 10.33 |
| PEERS AVERAGE | 31.42 | 10.43 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.