Press release
Zscaler Expects to Report Third-Quarter Results above Guidance; Raises Guidance for the Full-Year
Full Third-Quarter Earnings Results to be Released on Thursday, June 1, After the Close of the Market SAN JOSE, Calif., May 08, 2023 (GLOBE NEWSWIRE) --
About this update from Zscaler Inc
[{"type":"text","content":"Full Third-Quarter Earnings Results to be Released on Thursday, June 1, After the Close of the Market\nSAN JOSE, Calif., May 08, 2023 (GLOBE NEWSWIRE) -- Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, today announced certain preliminary unaudited financial results for the third quarter of fiscal year 2023, ended April 30, 2023. All figures in this release are approximate due to the preliminary nature of the announcement. “I am pleased to announce that our preliminary third quarter results exceeded the high end of our guidance range. We had a strong finish to the quarter as the high ROI of adopting the Zscaler Zero Trust ExchangeTM platform continues to resonate with customers and prospects in this challenging macro environment,” said Jay Chaudhry, Chairman and CEO of Zscaler. “Our customer engagements are strong, and our platform continues to expand with innovations that solve our customers' real time IT challenges. We look forward to sharing more details on our upcoming earnings conference call.” Based on our preliminary review, we expect to report the following results for the third quarter ended April 30, 2023: Preliminary ResultsPrior Guidance Revenue$415 million to $419 million$396 million to $398 million GAAP loss from operations$59 million to $55 millionNot provided Non-GAAP income from operations$60 million to $64 million$55 million to $56 million Based on our preliminary review, we also expect to report calculated billings of approximately $478 million to $482 million, an increase of approximately 38% to 39% year-over-year. We expect full year fiscal 2023 results to exceed prior guidance: Updated GuidancePrior Guidance Revenue$1,587 million to $1,591 million$1,558 million to $1,563 million Calculated billings$1,970 million to $1,974 million$1,935 million to $1,945 million Non-GAAP income from operations (*)$220 million to $224 million$213 million to $215 million (*) Guidance for non-GAAP income from operations excludes stock-based compensation expense and related employer payroll taxes, amortization expense of acquired intangible assets and restructuring and other charges. We have not reconciled our expectations for non-GAAP income from operations to its most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted. For those reasons, we are also unable ...