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Zscaler | 8-K: Zscaler Reports Second Quarter Fiscal 2024 Financial Results

SEC announcement ·  Feb 29 16:23
Summary by Moomoo AI
On February 29, 2024, Zscaler, Inc., a leader in cloud security, reported its financial results for the second fiscal quarter ended January 31, 2024. The company announced significant year-over-year growth with revenue increasing by 35% to $525.0 million, calculated billings up by 27% to $627.6 million, and deferred revenue growing by 35% to $1,502.2 million. Zscaler also reported a GAAP net loss of $28.5 million, which is an improvement from the $57.5 million GAAP net loss in the previous year. Non-GAAP net income stood at $121.1 million, more than double the $57.6 million from the same quarter last year. The company's strong performance was attributed to the high customer interest in its Zscaler Zero Trust Exchange platform. Zscaler's CEO, Jay Chaudhry, highlighted the shift from traditional firewall-based security...Show More
On February 29, 2024, Zscaler, Inc., a leader in cloud security, reported its financial results for the second fiscal quarter ended January 31, 2024. The company announced significant year-over-year growth with revenue increasing by 35% to $525.0 million, calculated billings up by 27% to $627.6 million, and deferred revenue growing by 35% to $1,502.2 million. Zscaler also reported a GAAP net loss of $28.5 million, which is an improvement from the $57.5 million GAAP net loss in the previous year. Non-GAAP net income stood at $121.1 million, more than double the $57.6 million from the same quarter last year. The company's strong performance was attributed to the high customer interest in its Zscaler Zero Trust Exchange platform. Zscaler's CEO, Jay Chaudhry, highlighted the shift from traditional firewall-based security to Zero Trust architecture as a key driver of growth. The company also introduced Zscaler Zero Trust SASE, a single-vendor SASE solution, and announced the availability of Business Insights as part of its Business Analytics portfolio. Zscaler was recognized as a leader in the Forrester Wave for SaaS Security Posture Management and was named to Built In's Best Places to Work list for the second consecutive year. Looking ahead, Zscaler provided a positive financial outlook for the third quarter and full fiscal year of 2024, with expected revenue of $534 million to $536 million for Q3 and approximately $2.118 billion to $2.122 billion for the full year.

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