Press release
Zscaler Reports Third Quarter Fiscal 2023 Financial Results
Third Quarter Highlights Revenue grows 46% year-over-year to $418.8 millionCalculated billings grows 40% year-over-year to $482.3 millionDeferred revenue
About this update from Zscaler Inc
[{"type":"text","content":"Third Quarter Highlights Revenue grows 46% year-over-year to $418.8 millionCalculated billings grows 40% year-over-year to $482.3 millionDeferred revenue grows 44% year-over-year to $1,175.4 millionGAAP net loss of $46.0 million compared to GAAP net loss of $101.4 million on a year-over-year basis Non-GAAP net income of $74.6 million compared to non-GAAP net income of $24.7 million on a year-over-year basis SAN JOSE, Calif., June 01, 2023 (GLOBE NEWSWIRE) -- Zscaler, Inc. (Nasdaq: ZS), the leader in cloud security, today announced financial results for its third quarter of fiscal year 2023, ended April 30, 2023. \"The business value delivered by our Zero Trust security platform is continuing to drive customer adoption across all sectors globally, leading to another quarter of strong growth. On a year-over-year basis, we delivered 46% revenue growth, 40% billings growth, and 135% operating profit growth, all exceeding our guidance from last quarter”, said Jay Chaudhry, Chairman and CEO of Zscaler. \"We believe our highly-scalable, extensible platform enables customers to dramatically elevate their security posture, reduce IT complexity and increase employee productivity, providing a competitive advantage to our customers and helping to ensure their business success in this uncertain macroeconomic environment.\" Third Quarter Fiscal 2023 Financial Highlights Revenue: $418.8 million, an increase of 46% year-over-year.Income (loss) from operations: GAAP loss from operations was $55.7 million, or 13% of revenue, compared to $86.6 million, or 30% of revenue, in the third quarter of fiscal 2022. Non-GAAP income from operations was $63.9 million, or 15% of revenue, compared to $27.2 million, or 9% of revenue, in the third quarter of fiscal 2022.Net income (loss): GAAP net loss was $46.0 million, compared to $101.4 million in the third quarter of fiscal 2022. Non-GAAP net income was $74.6 million, compared to $24.7 million in the third quarter of fiscal 2022.Net income (loss) per share: GAAP net loss per share was $0.32, compared to $0.72 in the third quarter of fiscal 2022. Non-GAAP net income per share was $0.48, compared to $0.17 in the third quarter of fiscal 2022.Cash flow: Cash provided by operations was $108.5 million, or 26% of revenue, compared to $77.2 million, or 27% of revenue, in the third quarter of fiscal 2022. Free cash f...