Press release
Zscaler Reports First Quarter Fiscal 2024 Financial Results
First Quarter Highlights Revenue grows 40% year-over-year to $496.7 millionCalculated billings grows 34% year-over-year to $456.6 millionDeferred revenue
About this update from Zscaler Inc
[{"type":"text","content":"First Quarter Highlights Revenue grows 40% year-over-year to $496.7 millionCalculated billings grows 34% year-over-year to $456.6 millionDeferred revenue grows 39% year-over-year to $1,399.5 millionGAAP net loss of $33.5 million compared to GAAP net loss of $68.2 million on a year-over-year basis Non-GAAP net income of $106.5 million compared to non-GAAP net income of $44.0 million on a year-over-year basis SAN JOSE, Calif., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Zscaler, Inc. (Nasdaq: ZS), the leader in cloud security, today announced financial results for its first quarter of fiscal year 2024, ended October 31, 2023. “We had a strong start to our fiscal year with all key metrics coming above our guidance. We are enabling enterprises to move forward with their key transformative initiatives - Zero Trust and AI - which is driving demand for our Zero Trust Exchange,” said Jay Chaudhry, Chairman and CEO of Zscaler. “In order to meet this growing need, we are scaling our go-to-market and R&D organizations, strengthening our foundation for the long-term growth of our business.” First Quarter Fiscal 2024 Financial Highlights Revenue: $496.7 million, an increase of 40% year-over-year.Income (loss) from operations: GAAP loss from operations was $46.1 million, or 9% of revenue, compared to $69.1 million, or 19% of revenue, in the first quarter of fiscal 2023. Non-GAAP income from operations was $89.7 million, or 18% of revenue, compared to $42.1 million, or 12% of revenue, in the first quarter of fiscal 2023.Net income (loss): GAAP net loss was $33.5 million, compared to $68.2 million in the first quarter of fiscal 2023. Non-GAAP net income was $106.5 million, compared to $44.0 million in the first quarter of fiscal 2023.Net income (loss) per share: GAAP net loss per share was $0.23, compared to $0.48 in the first quarter of fiscal 2023. Non-GAAP net income per share was $0.67, compared to $0.29 in the first quarter of fiscal 2023.Cash flows: Cash provided by operations was $260.8 million, or 53% of revenue, compared to $128.5 million, or 36% of revenue, in the first quarter of fiscal 2023. Free cash flow was $224.7 million, or 45% of revenue, compared to $95.6 million, or 27% of revenue, in the first quarter of fiscal 2023.Deferred revenue: $1,399.5 million as of October 31, 2023, an increase of 39% year-over-year.Cash, cash equivalents and...