Is ZeroFox profitable in 2026?

ZeroFox has not disclosed financials since going private in May 2024. Its last public figures showed FY2024 (ended Jan 31, 2024) ARR of $188.4 million, up 20% YoY, with positive free cash flow reported at the time, but no post-privatization results have been released.

Who owns ZeroFox now?

ZeroFox is owned by Haveli Investments, an Austin-based tech-focused private equity firm, which took the company private in a deal announced Feb 6, 2024 and closed May 13, 2024, valuing it at roughly $350 million enterprise value versus its 2022 SPAC valuation near $1.4 billion.

Has ZeroFox had layoffs?

Yes. ZeroFox cut roughly 16% of staff (about 150 employees) in 2024 following its take-private deal, per Crustdata's tracked data. Headcount estimates for mid-2026 range from roughly 859 (Crustdata, July 2026) to 976 (Revelio Labs, Dec 2025).

Could AI replace ZeroFox?

ZeroFox's core scraping and detection work is exactly what AI-native rivals like Bolster AI, WhiteIntel, and Flare are targeting with cheaper automation as of mid-2026. But its Global Disruption Network of 50+ ISP/registrar partners plus exclusive Google Web Risk access is an enforcement layer that pure-AI tools cannot easily replicate.

Who is ZeroFox's biggest competitor?

Mastercard's Recorded Future and Check Point's Cyberint, both acquired in 2024, now compete as bundled features inside larger security platforms. AI-native challenger Bolster AI also runs explicit 'vs. ZeroFox' comparison marketing as of June 2026, framing ZeroFox as manual and analyst-heavy.

Did ZeroFox go public or private?

ZeroFox went public via SPAC merger with L&F Acquisition Corp on August 4, 2022 at roughly $1.4 billion valuation, then was taken private by Haveli Investments on May 13, 2024 for about $350 million, a roughly 75% discount to its SPAC valuation.

Cybersecurity companies · subsidiary of Haveli Investments · United States

ZeroFox

zerofox.com ↗

ZeroFox finds and takes down fake accounts, phishing sites, and impersonation scams for companies and executives.

Losing its protection

Assessed 21 July 2026 · Evidence as of 21 July 2026

The structural protection is eroding.

On the recordSince 21 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: Renewal cycle test of new AI Analytics and SLM features against AI-native rivals

The call

ZeroFox still has real takedown reach through its partner network, but it's boxed in between cheaper AI-native detection startups and bigger platforms bundling the same service for free.

ZeroFox finds and takes down fake websites, phishing pages, and brand imposters for banks, retailers, and government agencies. It has real advantages: a network of 50+ internet service providers and domain registrars that can remove threats in about 15 minutes, plus an exclusive partnership with Google that puts its warnings on 5 billion devices. The problem is that newer, AI-powered competitors like Bolster and Flare do the same detection work faster and cheaper, and giants like Mastercard, Check Point, and CrowdStrike are bundling this protection into their existing security platforms instead of buying it separately. The company went private in 2024 at a steep discount (worth one-quarter what investors thought two years earlier), laid off workers, and stopped sharing financial updates, which suggests investors now see it as a stable cash business, not a growth opportunity. The question that matters most: can ZeroFox's unique relationships with internet providers and Google actually keep customers from switching to cheaper AI alternatives, or will it eventually get sold off or squeezed for cash by its current owner?

Why

AI pressure: Bolster AI, Flare, WhiteIntel, Doppel. AI-native rivals detect and take down fakes faster and cheaper, calling ZeroFox's analyst-heavy model slow and pricey. Could AI do the core job? Only partly.

Bigger players: Mastercard (Recorded Future), Check Point (Cyberint), CrowdStrike, Proofpoint. Big security platforms now bundle digital risk protection into existing suites, turning ZeroFox's category into a free add-on elsewhere. Could a giant copy it? Yes, easily.

What protects it. Its Global Disruption Network of 50+ ISPs and registrars plus exclusive Google Web Risk access lets it pull down bad domains in about 15 minutes across 5 billion devices.

What would change this call

ZeroFox or Haveli disclose renewed ARR growth figures or a new funding/recap event within 12 months. Would show the business is being reinvested in rather than harvested for cash.
Public loss of Google Web Risk exclusivity or a major ISP/registrar partner from the Global Disruption Network. Would show the core enforcement moat is eroding.
A second round of layoffs beyond 2024's 16% cut, or headcount falling below 850. Would show cash extraction continuing under PE ownership rather than growth.

Key numbers

$188.4M ARR, up 20% YoY (Jan 2024)
Taken private at $350M, a 75% haircut from $1.4B (May 2024)
Headcount cut ~16% in 2024, now 850-976 staff (2026)

Named risks

No public financial disclosure since May 2024 privatization limits verification of growth or margins. Severity: medium
AI-native rivals (Bolster, WhiteIntel, Flare) undercutting detection layer on speed and price. Severity: high
Platform incumbents (Mastercard, Check Point, CrowdStrike) bundling DRP as a feature, not standalone purchase. Severity: high
PE owner Haveli may prioritize cash extraction or resale over reinvestment in growth. Severity: medium
Active brand-impersonation campaign (73 domains) could create customer trust or phishing exposure. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Recorded Future (Mastercard)	gaining on	Mastercard acquired Recorded Future in 2024, bundling threat intel into a larger platform
Cyberint (Check Point)	gaining on	Check Point acquired Cyberint in 2024, folding DRP into its security suite
Bolster AI	contesting	Runs explicit 'vs ZeroFox' marketing as of June 2026 calling ZeroFox analyst-heavy
WhiteIntel	contesting	Markets itself as cheaper dark-web/credential monitoring alternative, May 2026 comparison content
CrowdStrike	gaining on	Larger endpoint/threat-intel platform positioned to bundle DRP as a feature
Flashpoint	contesting	Positions itself as deeper primary-source dark-web intel leader vs ZeroFox, July 2026 comparison page

Questions people ask

Is ZeroFox profitable in 2026?: ZeroFox has not disclosed financials since going private in May 2024. Its last public figures showed FY2024 (ended Jan 31, 2024) ARR of $188.4 million, up 20% YoY, with positive free cash flow reported at the time, but no post-privatization results have been released.
Who owns ZeroFox now?: ZeroFox is owned by Haveli Investments, an Austin-based tech-focused private equity firm, which took the company private in a deal announced Feb 6, 2024 and closed May 13, 2024, valuing it at roughly $350 million enterprise value versus its 2022 SPAC valuation near $1.4 billion.
Has ZeroFox had layoffs?: Yes. ZeroFox cut roughly 16% of staff (about 150 employees) in 2024 following its take-private deal, per Crustdata's tracked data. Headcount estimates for mid-2026 range from roughly 859 (Crustdata, July 2026) to 976 (Revelio Labs, Dec 2025).
Could AI replace ZeroFox?: ZeroFox's core scraping and detection work is exactly what AI-native rivals like Bolster AI, WhiteIntel, and Flare are targeting with cheaper automation as of mid-2026. But its Global Disruption Network of 50+ ISP/registrar partners plus exclusive Google Web Risk access is an enforcement layer that pure-AI tools cannot easily replicate.
Who is ZeroFox's biggest competitor?: Mastercard's Recorded Future and Check Point's Cyberint, both acquired in 2024, now compete as bundled features inside larger security platforms. AI-native challenger Bolster AI also runs explicit 'vs. ZeroFox' comparison marketing as of June 2026, framing ZeroFox as manual and analyst-heavy.
Did ZeroFox go public or private?: ZeroFox went public via SPAC merger with L&F Acquisition Corp on August 4, 2022 at roughly $1.4 billion valuation, then was taken private by Haveli Investments on May 13, 2024 for about $350 million, a roughly 75% discount to its SPAC valuation.

Timeline

2026-06-25ZeroFox research team disclosed 73 correlated domains impersonating its own brand
2026-06Launched 'AI Analytics' in-platform reporting feature and named Leader in QKS Group SPARK Matrix
2025-12-02Named new CTO Shon Myatt and CRO Kyle Novellano, disclosed custom AI/SLM threat detection models
2025-09-18Announced managed DRP partnership with Swisscom in Switzerland
2024-11Divested IDX breach-response subsidiary to Kingswood Capital Management
2024-05-13Haveli Investments completed acquisition; ZFOX delisted from Nasdaq
2024-04-22Miller v. ZeroFox Holdings shareholder suit over merger disclosures voluntarily dismissed
2024-02-06Agreed to be acquired by Haveli Investments for ~$350M EV, $1.14 per share
2022-08-04Went public via SPAC merger with L&F Acquisition Corp at ~$1.4B valuation

Revision history

21 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

In the same band

Seqrite Meiya Pico NSFOCUS