NASDAQ$ZS

Zscaler Inc · Q1 2025 earnings

Q1 2025 earnings · · Investor relations

Briefing

Zscaler's Q1 2025 financial performance was reported, demonstrating revenue growth and exceeding guidance.

Zscaler reported a solid Q1 2025 with revenue growing 26% year-over-year to $628.0 million and calculated billings growing 13% year-over-year to $516.7 million. All metrics exceeded the company's guidance.

  • Revenue increased by 26% year-over-year, reaching $628.0 million.
  • Calculated billings grew by 13% year-over-year, amounting to $516.7 million.
  • GAAP net loss improved to $12.1 million compared to a net loss of $33.5 million in the prior year.
  • Non-GAAP net income increased to $124.3 million, up from $86.4 million in the same period last year.

Headline financials

Total Revenue

$628M

Previous: $497M+26.4%
EPS

-$0.08

Previous: $0.67-111.9%
Cash Flow from Operations

$331M

No prior period
Annual Recurring Revenue

$2.54B

No prior period
Total Deferred Revenue

$1.78B

No prior period
Capital Expenditures

-$17M

Previous: -$28.7M+40.6%
Free Cash Flow

$314M

Previous: $232M+35.4%
Net Income

-$12.1M

Previous: -$33.5M+64.0%
Operating Income

-$30.7M

Previous: -$46.1M+33.4%
Gross Profit

$486M

Previous: $385M+26.3%
Cash & Equivalents

$1.55B

Previous: $1.36B+14.1%
Total Assets

$4.71B

Previous: $3.64B+29.5%
R&D Expense

$154M

Previous: $113M+35.8%
Stock-Based Comp

$157M

Previous: $129M+21.7%

Revenue & EPS history

Zscaler · Revenue · Quarterly

$628M

Q1 2025+26.4%vs Q1 2024
Beat estimate in 15 of 15 quarters(100%)
ActualEstimate

Forward guidance

For the second quarter of fiscal 2025, Zscaler expects revenue of $633 million to $635 million and non-GAAP net income per share of approximately $0.68 to $0.69. For the full year of fiscal 2025, the company expects revenue of approximately $2.623 billion to $2.643 billion and calculated billings of $3.124 billion to $3.149 billion.

Tailwinds

  • Revenue of $633 million to $635 million is expected for the second quarter of fiscal 2025.
  • Non-GAAP income from operations of $126 million to $128 million is anticipated for Q2 2025.
  • Non-GAAP net income per share of approximately $0.68 to $0.69 is projected for the second quarter.
  • Full year revenue is expected to be approximately $2.623 billion to $2.643 billion.
  • Full year calculated billings are projected to be $3.124 billion to $3.149 billion.

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 Q1 2025

Historical avgQ1 2025

+2.0%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+2.6%

Avg return

30 days after

41%

13 / 32 earnings

Positive

+31.6%

Q3 2020

Best reaction

-21.4%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026
Q2 2026-3.0%-6.7%-20.4%
Q1 2026-6.8%-16.0%-20.4%
Q4 2025-1.5%+2.6%+11.2%
Q3 2025+10.0%+18.2%+25.6%
Q2 2025+2.9%+1.5%-11.1%
Q1 2025-3.8%+2.6%-12.7%
Q4 2024-21.4%-21.6%-15.2%
Q3 2024+3.4%+2.9%+16.9%
Q2 2024-7.6%-13.0%-18.8%
Q1 2024+0.4%+2.6%+16.5%
Q4 2023-0.0%+1.5%-3.2%
Q3 2023+5.1%+12.9%+8.0%
Q2 2023-7.2%-8.2%-9.0%
Q1 2023-3.3%-13.1%-16.1%
Q4 2022+27.3%+22.7%+15.2%
Q3 2022+20.7%+15.5%+28.8%
Q2 2022-7.3%+3.5%-3.8%
Q1 2022-10.6%-12.0%-8.8%
Q4 2021-3.6%-1.7%-5.0%
Q3 2021+11.4%+11.4%+25.9%
Q2 2021-1.3%-2.5%-18.3%
Q1 2021+22.4%+17.4%+31.7%
Q4 2020-0.4%-2.3%+14.1%
Q3 2020+31.6%+42.5%+42.2%
Q2 2020-16.4%-22.6%-17.7%
Q1 2020-2.4%-8.6%-7.3%
Q4 2019-19.9%-23.4%-23.7%
Q3 2019-3.5%+1.1%+7.7%
Q2 2019+19.4%+13.4%+39.8%
Q1 2019+9.9%+3.2%+0.5%
Q4 2018-5.4%+3.4%-16.3%
Q3 2018+25.4%+36.9%+26.2%
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2016
Q1 2016
Q4 2016
Q3 2016

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