Press release
Zscaler Reports Second Quarter Fiscal 2023 Financial Results
Second Quarter Highlights Revenue grows 52% year-over-year to $387.6 millionCalculated billings grows 34% year-over-year to $493.8 millionDeferred revenue
About this update from Zscaler Inc
[{"type":"text","content":"Second Quarter Highlights Revenue grows 52% year-over-year to $387.6 millionCalculated billings grows 34% year-over-year to $493.8 millionDeferred revenue grows 46% year-over-year to $1,111.9 millionGAAP net loss of $57.5 million compared to GAAP net loss of $100.4 million on a year-over-year basis Non-GAAP net income of $57.6 million compared to non-GAAP net income of $19.2 million on a year-over-year basis SAN JOSE, Calif., March 02, 2023 (GLOBE NEWSWIRE) -- Zscaler, Inc. (Nasdaq: ZS), the leader in cloud security, today announced financial results for its second quarter of fiscal year 2023, ended January 31, 2023. \"We exceeded both our revenue and profitability guidance in Q2, demonstrating the operating leverage inherent in our business model,” said Jay Chaudhry, Chairman and CEO of Zscaler. “Even in this difficult macroeconomic environment, we continue to see customers consolidate multiple point products onto our integrated Zero Trust security platform for better security and lower cost. We believe that strong customer interest in our platform, together with the growth in our annual recurring revenue base, supports the increase to our fiscal year guidance.\" Second Quarter Fiscal 2023 Financial Highlights Revenue: $387.6 million, an increase of 52% year-over-year.Income (loss) from operations: GAAP loss from operations was $65.2 million, or 17% of revenue, compared to $83.9 million, or 33% of revenue, in the second quarter of fiscal 2022. Non-GAAP income from operations was $48.8 million, or 13% of revenue, compared to $22.3 million, or 9% of revenue, in the second quarter of fiscal 2022.Net income (loss): GAAP net loss was $57.5 million, compared to $100.4 million in the second quarter of fiscal 2022. Non-GAAP net income was $57.6 million, compared to $19.2 million in the second quarter of fiscal 2022.Net income (loss) per share: GAAP net loss per share was $0.40, compared to $0.71 in the second quarter of fiscal 2022. Non-GAAP net income per share was $0.37, compared to $0.13 in the second quarter of fiscal 2022.Cash flow: Cash provided by operations was $89.5 million, or 23% of revenue, compared to $48.3 million, or 19% of revenue, in the second quarter of fiscal 2022. Free cash flow was $62.8 million, or 16% of revenue, compared to $29.4 million, or 12% of revenue, in the second quarter of fiscal 2022.Deferred revenue:...