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NET Revenue by Segments

Revenue by SegmentsRevenue by Segments

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The latest data point for NET's revenue by segments in Q1'26 shows Channel partners contributing $193M USD and Direct customers at $447M USD, resulting in a combined total of $640M USD. This marks a substantial increase from the previous quarter, with Direct customers remaining the dominant segment at approximately 70% of the total revenue. Over the period from Q1'23 to Q1'26, both segments exhibit consistent growth, with Direct customers expanding from $249M USD to $447M USD (a 79% rise) and Channel partners surging from $41M USD to $193M USD (a 371% increase), reflecting accelerated momentum in the latter half of the timeframe. The stacked bar chart highlights Direct customers as the primary revenue driver throughout, accounting for 80-85% of totals in early quarters before stabilizing around 70% recently, while Channel partners' faster growth rate suggests emerging diversification in NET's sales channels. No significant declines or volatility are observed, indicating stable upward trends driven by expanding customer bases.