NASDAQ$ZM
Zoom Video Communications Inc · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Zoom reported steady revenue growth and improved profitability in Q4 FY25.
Zoom's fourth-quarter revenue grew 3.3% year over year to $1.184 billion, with enterprise revenue rising by 5.9%. GAAP net income increased to $367.9 million, while non-GAAP net income reached $446.9 million. Operating cash flow rose 20.9% to $424.6 million. The company continues to expand its AI capabilities and customer base.
- Total revenue increased by 3.3% year over year, driven by enterprise growth.
- GAAP net income rose to $367.9 million, reflecting stronger profitability.
- Free cash flow increased 25.1% to $416.2 million.
- Number of customers contributing over $100,000 in trailing 12-month revenue grew by 7.3%.
Headline financials
Revenue & EPS history
Zoom · Revenue · Quarterly
$1.18B
Revenue by segment
Zoom · $1.24B total across 2 segments · Q1 2027
- Enterprise$756M—61.0%
- Online$483M—39.0%
Forward guidance
Zoom expects revenue for Q1 FY26 to range between $1.162 billion and $1.167 billion, with non-GAAP diluted EPS projected between $1.29 and $1.31. Full-year FY26 revenue is expected between $4.785 billion and $4.795 billion.
Tailwinds
- Revenue growth expected to continue with strong enterprise demand.
- AI-driven innovations positioned for further adoption.
- Continued focus on operational efficiency and margin expansion.
- Healthy cash flow projections for fiscal year 2026.
- Stock repurchase program to enhance shareholder value.
Headwinds
- Online revenue segment saw slight decline in Q4 FY25.
- Macroeconomic conditions could impact enterprise spending.
- Increasing competition in the collaboration and AI markets.
- Transition in customer classification may affect reported metrics.
- Stock-based compensation remains a significant expense.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
+2.7%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.3%
Avg return
30 days after
44%
14 / 32 earnings
Positive
+52.9%
Q2 2021
Best reaction
-18.3%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | +9.3% | +3.4% | -10.6% | |
| Q4 2026 | -11.6% | -14.0% | -9.0% | |
| Q3 2026 | +9.8% | +8.1% | +11.7% | |
| Q2 2026 | +12.7% | +10.6% | +15.0% | |
| Q1 2026 | -0.1% | -4.1% | -5.2% | |
| Q4 2025 | -8.5% | -9.1% | -5.3% | |
| Q3 2025 | -2.9% | -3.7% | -0.2% | |
| Q2 2025 | +15.1% | +20.6% | +14.2% | |
| Q1 2025 | -0.5% | -1.8% | -12.4% | |
| Q4 2024 | +7.5% | +11.8% | +5.1% | |
| Q3 2024 | +2.8% | +0.6% | +9.0% | |
| Q2 2024 | -0.7% | +2.1% | +3.8% | |
| Q1 2024 | -5.4% | -4.5% | -3.5% | |
| Q4 2023 | +0.9% | -4.2% | -4.5% | |
| Q3 2023 | -5.5% | -7.6% | -14.3% | |
| Q2 2023 | -18.3% | -18.2% | -23.7% | |
| Q1 2023 | +5.1% | +23.0% | +28.3% | |
| Q4 2022 | -2.0% | -13.1% | -2.3% | |
| Q3 2022 | -17.8% | -12.4% | -23.1% | |
| Q2 2022 | -15.1% | -12.5% | -24.5% | |
| Q1 2022 | -1.3% | +1.3% | +16.6% | |
| Q4 2021 | -0.2% | -9.7% | -14.0% | |
| Q3 2021 | -13.8% | -13.1% | -25.1% | |
| Q2 2021 | +52.9% | +23.6% | +57.1% | |
| Q1 2021 | +9.7% | +1.7% | +28.2% | |
| Q4 2018 | +28.9% | +11.6% | +21.2% | |
| Q4 2020 | +6.4% | -3.2% | +9.1% | |
| Q3 2020 | -10.3% | -7.7% | -3.8% | |
| Q2 2018 | -1.1% | +3.7% | -12.5% | |
| Q2 2020 | -8.7% | -14.1% | -18.2% | |
| Q1 2018 | +28.4% | +29.4% | +15.7% | |
| Q1 2020 | +20.5% | +21.6% | +17.7% | |
| Q4 2019 | — | — | — | |
| Q3 2018 | — | — | — |
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