Press release
Zscaler Reports Fourth Quarter and Fiscal 2023 Financial Results
Fourth Quarter Highlights Revenue grows 43% year-over-year to $455.0 millionCalculated billings grows 38% year-over-year to $719.3 millionDeferred revenue
About this update from Zscaler Inc
[{"type":"text","content":"Fourth Quarter Highlights Revenue grows 43% year-over-year to $455.0 millionCalculated billings grows 38% year-over-year to $719.3 millionDeferred revenue grows 41% year-over-year to $1,439.7 millionGAAP net loss of $30.7 million compared to GAAP net loss of $97.7 million on a year-over-year basis Non-GAAP net income of $100.9 million compared to non-GAAP net income of $36.4 million on a year-over-year basis SAN JOSE, Calif., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Zscaler, Inc. (Nasdaq: ZS), the leader in cloud security, today announced financial results for its fiscal fourth quarter and fiscal year ended July 31, 2023. \"We concluded our fiscal year with strong top line growth and record operating profits. In less than two years, we doubled our annual recurring revenue, surpassing the $2 billion milestone. With cyber security as a high priority, IT executives are modernizing their legacy network security with our zero-trust architecture,\" said Jay Chaudhry, Chairman and CEO of Zscaler. “Our customers are realizing tremendous value from the new services and advanced capabilities delivered on our Zero Trust Exchange™ platform. We will continue to invest to delight our customers with more product innovations to capture the large opportunities ahead of us.\" Fourth Quarter Fiscal 2023 Financial Highlights Revenue: $455.0 million, an increase of 43% year-over-year.Income (loss) from operations: GAAP loss from operations was $44.6 million, or 10% of revenue, compared to $82.5 million, or 26% of revenue, in the fourth quarter of fiscal 2022. Non-GAAP income from operations was $86.0 million, or 19% of revenue, compared to $38.1 million, or 12% of revenue, in the fourth quarter of fiscal 2022.Net income (loss): GAAP net loss was $30.7 million, compared to $97.7 million in the fourth quarter of fiscal 2022. Non-GAAP net income was $100.9 million, compared to $36.4 million in the fourth quarter of fiscal 2022.Net income (loss) per share: GAAP net loss per share was $0.21, compared to $0.69 in the fourth quarter of fiscal 2022. Non-GAAP net income per share was $0.64, compared to $0.25 in the fourth quarter of fiscal 2022.Cash flows: Cash provided by operations was $135.9 million, or 30% of revenue, compared to $103.1 million, or 32% of revenue, in the fourth quarter of fiscal 2022. Free cash flow was $101.3 million, or 22% of revenue, compa...