Zscaler sells subscription cloud security services, priced by users, workloads, or platform modules, through its Zero Trust Exchange platform -- distributed across more than 160 data centers globally and processing over 500 billion transactions daily. Revenue comes from annual and multi-year contracts for products including Zscaler Internet Access, Zscaler Private Access, Zscaler Digital Experience, data protection, cloud workload security, and newer AI-security products. Zscaler crossed $3 billion in annual recurring revenue (ARR) in fiscal 2025 and guided to roughly $3.74-3.75 billion for fiscal 2026, about 24% growth, with AI-security offerings alone approaching $400 million of ARR. The company has expanded beyond its original network-security core through acquisition: Canonic Security ($50 million, 2023) added SaaS supply-chain security, Avalor ($350 million, 2024) added risk-quantification and data-fabric technology that became the Risk360 product, Airgap Networks ($100 million, 2024) added internal network microsegmentation, and Red Canary ($400 million, 2025) added managed detection and response (MDR), pushing Zscaler from pure network security into broader AI-powered security operations. Zscalers cloud-native architecture, built without on-premises hardware appliances, gave it a structural advantage over legacy network-security vendors as enterprises shifted workloads to cloud infrastructure and remote work reduced the relevance of traditional perimeter-based security models. Zscalers subscription-based ARR model, rather than perpetual software licensing, gives it more predictable, recurring revenue visibility than the license-and-maintenance model that dominated enterprise security software a decade earlier.