NASDAQ$ZS
Zscaler Inc · Q2 2026 earnings
Q2 2026 earnings · · After market close · Investor relations
Briefing
Zscaler reported fiscal Q2 2026 revenue of $815.8M with a net loss of $34M.
Revenue grew to $815.8 million for the quarter ended January 31, 2026, versus $647.9 million a year ago. Net loss was $34 million ($(0.21) diluted EPS). Deferred revenue was $2.36 billion; subscription revenue was ~98% of total revenue.
- Q2 revenue $815.8M (+26% YoY).
- Gross margin supported by subscription mix.
- Deferred revenue $2.36B provides revenue visibility.
- MD&A discusses AI security platform investments.
Headline financials
Revenue & EPS history
Zscaler · Revenue · Quarterly
$816M
Forward guidance
Security platform demand tied to zero-trust adoption; deferred revenue provides multi-quarter visibility.
Tailwinds
- Revenue growth above 25% YoY in Q2.
- Subscription revenue ~98% of total.
- Large deferred revenue balance.
Headwinds
- Still GAAP unprofitable.
- SBC and sales investment remain elevated.
- Competitive cloud security market.
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 Q2 2026
+1.5%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+2.6%
Avg return
30 days after
39%
13 / 33 earnings
Positive
+31.6%
Q3 2020
Best reaction
-21.4%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -15.8% | +2.9% | — | |
| 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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