Snyk’s revenue passes $300 million as losses widen and AI push raises costs
Developer security company grows revenue 11% to $309.2 million, but operating loss rises to $202.7 million as it shifts resources toward AI security.
Snyk, the developer security company founded in Israel and headquartered in London and Boston, grew revenue by 11% to $309.2 million in 2025, according to its latest financial disclosures filed in the UK.
The increase of $30.8 million marked a sharp slowdown from the company’s earlier growth rates. Revenue had risen 50% in 2023, following years of much faster expansion as Snyk established itself as one of the leading developer security companies.
At the same time, Snyk’s losses continued to widen. Its operating loss increased 8% to $202.7 million in 2025, from $188.4 million a year earlier, while its net loss rose 19% to $197.9 million from $166.5 million.
The figures offer a rare look at the finances of a late-stage private cybersecurity company as Snyk shifts its focus toward securing software developed and deployed with artificial intelligence.
Snyk has been building out an AI security business alongside its traditional developer security products. In June 2025, the company acquired Zurich-based Invariant Labs, an AI security research firm focused on threats to AI agents and AI-native applications. The acquisition expanded Snyk’s research capabilities around areas including Model Context Protocol vulnerabilities and tool poisoning.
Snyk ended 2025 with 4,744 customers, up 6% from 4,478 a year earlier. The United States accounted for 65% of revenue, while the UK contributed 8%.
The company’s workforce, however, declined. Average monthly headcount was 1,084 employees during the year, compared with 1,162 in 2024, and the company ended 2025 with 990 full-time employees.
Despite the reduction in headcount, wages and salaries increased 5%. Company directors attributed the increase to a shift toward higher-cost technical roles, particularly in AI, as Snyk prioritized development of its AI-native security platform.
Snyk remained well funded despite the losses. At the end of 2025, the company held $291.3 million in cash, cash equivalents, restricted cash and short-term investments. Including longer-term investments, total cash and investments stood at $367.8 million, down from $412.4 million a year earlier.
The company’s financial position nevertheless gives it room to continue investing while it works toward improved profitability. Its auditors issued an unqualified opinion and concluded that Snyk had sufficient liquidity to continue operating as a going concern through at least the end of 2027.
Snyk’s cash position is particularly significant given the scale of its losses. The company burned through a substantial portion of its liquidity during 2025 even as revenue continued to rise.
The board also approved a 2025 reorganization plan aimed at improving free cash flow and profitability, following a series of workforce and organizational changes in previous years.
The financial disclosures also show a significant reshaping of Snyk’s leadership and board.
Peter McKay, who served as Snyk’s CEO for seven years, left the company’s board on May 15, 2026. Snyk subsequently moved CFO Kenneth MacAskill into the role of interim CEO while McKay transitioned to an advisory role. Snyk said founder Guy Podjarny would return to the board as chairman.
Podjarny had previously stepped down from the board in January 2025. Companies House records show that he was appointed again as a director on March 27, 2026. The records also show the departures of James Heppelmann, Kathleen Murphy and Ed Sim from the board in December 2025, as well as the appointment of Kenneth Fox.
Snyk was valued at $8.5 billion in 2021 and at $7.4 billion in its $196.5 million Series G financing in 2022. The company has not gone public, leaving its latest financial disclosures as one of the few windows into the economics of a cybersecurity company that was once among the sector’s fastest-growing private businesses.
