Zscaler, Inc.
Financial Performance
Zscaler Revenue & Financials
Revenue
$3.4B (FY2026)
Market Cap
$32.6B
Employees
7,900
What is Zscaler's revenue?
Zscaler had $3.4B in revenue for fiscal year 2026, up 25.4% from 2025. It reported a net loss of $63.2M.
- Latest revenue
- $3.4B (FY2026)
- Year-over-year
- +25.4%
- Growth rate (CAGR)
- 44% over 9 years
- Peak revenue
- $3.4B (FY2026)
- Years of data
- 10
- Employees
- 7,900
- What is Zscaler's operating income?
- Zscaler reported an operating loss of $133.3M for fiscal year 2026. sec.gov
- How much profit does Zscaler make?
- Zscaler reported a net loss of $63.2M for fiscal year 2026. nasdaq.com
- How many employees does Zscaler have?
- Zscaler has about 7,900 employees.
Financial Analysis
Fiscal 2026 revenue grew 25% to $3.353 billion; excluding Red Canary it grew 20% to $3.209 billion. GAAP loss from operations was $133.3 million, while non-GAAP operating income rose to $767.1 million, or 23% of revenue. GAAP net loss was $63.2 million. Fourth-quarter revenue was $898.2 million and ARR ended the year at $3.771 billion. For fiscal 2027, CFO Kevin Rubin guided to revenue of $3.908 billion to $3.938 billion and ARR of $4.396 billion to $4.426 billion, growth of roughly 17%.
Revenue Trend Analysis
YoY Change
+25.4%
9-Year CAGR
+44%
Peak Year
2026
Trend
Consistent Growth
Zscaler, Inc. has 10 full fiscal year figures on this page, compounding at +44% annually over 9 years. The most recent year saw a 25.4% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at $3.4B. Of 9 comparable year-over-year steps, 9 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2026 | $3.4B | -$133.3Mfiling | -$63.2M | +25.4% | Zscaler fourth-quarter and fiscal 2026 results release, September 3, 2026 Fiscal year ended July 31, 2026. Revenue up 25%; up 20% excluding Red Canary. |
| FY2025 | $2.7B | -$128.5Mfiling | -$41.5M | +23.3% | Zscaler 2025 Form 10-K Fiscal year ended July 31, 2025. Revenue up 23.3%. |
| FY2024 | $2.2B | -$121.5Mfiling | -$57.7M | +34.1% | Zscaler Form 10-K filings (SEC EDGAR) Fiscal year ended July 31, 2024. |
| FY2023 | $1.6B | -$234.6Mfiling | -$202.3M | +48.2% | Zscaler Form 10-K filings (SEC EDGAR) Fiscal year ended July 31, 2023. |
| FY2022 | $1.1B | -$327.4Mfiling | -$390.3M | +62.1% | Zscaler Form 10-K filings (SEC EDGAR) Fiscal year ended July 31, 2022. |
| FY2021 | $673.1M | -$207.8Mfiling | -$262M | +56.1% | Zscaler Form 10-K filings (SEC EDGAR) Fiscal year ended July 31, 2021. |
| FY2020 | $431.3M | -$114Mfiling | -$115.1M | +42.4% | Zscaler Form 10-K filings (SEC EDGAR) Fiscal year ended July 31, 2020. |
| FY2019 | $302.8M | -$35.3Mfiling | -$28.7M | +59.2% | Zscaler Form 10-K filings (SEC EDGAR) Fiscal year ended July 31, 2019. |
| FY2018 | $190.2M | -$34.6Mfiling | -$33.6M | +51.3% | Zscaler Form 10-K filings (SEC EDGAR) Fiscal year ended July 31, 2018. |
| FY2017 | $125.7M | -$35.1Mfiling | -$35.5M | — | Zscaler Form 10-K filings (SEC EDGAR) Fiscal year ended July 31, 2017. |
Click any row to see year details.
Zscaler, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2026ended Jul 31, 2026 | $1.1B | $277.3M | $7.9B | $5.3B | $2.6B | $852.4M | Form 10-K |
| FY2025ended Jul 31, 2025 | $972.5M | $164.3M | $6.4B | $4.6B | $1.8B | $808.2M | Form 10-K |
| FY2024ended Jul 31, 2024 | $779.8M | $144.6M | $4.7B | $3.4B | $1.3B | $635.3M | Form 10-K |
| FY2023ended Jul 31, 2023 | $462.3M | $97.2M | $3.6B | $2.9B | $725.1M | $365.1M | Form 10-K |
| FY2022ended Jul 31, 2022 | $321.9M | $69.3M | $2.8B | $2.3B | $573.3M | $252.6M | Form 10-K |
| FY2021ended Jul 31, 2021 | $202M | $48.2M | $2.3B | $1.7B | $528.9M | $153.9M | Form 10-K |
| FY2020ended Jul 31, 2020 | $79.3M | $43.1M | $1.8B | $1.3B | $484.8M | $36.2M | Form 10-K |
| FY2019ended Jul 31, 2019 | $58M | $25.5M | $604.2M | $295.6M | $308.6M | $32.5M | Form 10-K |
| FY2018ended Jul 31, 2018 | $17.3M | $13.4M | $447.8M | $207.5M | $240.2M | $3.9M | Form 10-K |
| FY2017ended Jul 31, 2017 | -$6M | $7.8M | $182.9M | $133.1M | -$151.1M | -$13.8M | Form 10-K |
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Zscaler Revenue and Financial FAQ
What is Zscaler's annual recurring revenue (ARR) scale?
Zscaler generates over $2.5 billion in annual recurring revenue (ARR), sustaining strong 20%+ compounding top-line growth driven by large-scale enterprise cyber transformation.
What are Zscaler's gross profit margins and operating leverage?
Zscaler consistently achieves gross margins of 80% to 81% and non-GAAP operating margins approaching 20%, demonstrating substantial operational leverage as revenue scales.
How much free cash flow does Zscaler generate annually?
Zscaler generates over $600 million in annual free cash flow, delivering healthy free cash flow margins between 25% and 30% due to upfront enterprise multi-year subscription collections.
How much cash reserves does Zscaler maintain on its balance sheet?
Zscaler holds a fortress liquidity balance of over $2.5 billion in cash, cash equivalents, and short-term investments, providing massive financial insulation and strategic M&A flexibility.
Does Zscaler carry significant funded corporate debt?
Zscaler maintains zero funded bank term debt; its primary obligations consist of low-coupon convertible senior notes that are comfortably backed by its liquid cash reserves.
How many large enterprise customers contribute over $1 million in ARR?
Zscaler serves over 500 Global 2000 customers that generate more than $1 million in annual recurring revenue, reflecting deep mission-critical entrenchment.
How does Zscaler report GAAP net income versus non-GAAP profitability?
While Zscaler delivers substantial non-GAAP profits and free cash flow, reported GAAP net results historically reflected non-cash stock-based compensation typical of high-growth Silicon Valley software.
What are Zscaler's ongoing capital expenditures?
Capital expenditures average approximately 6% to 8% of revenue, dedicated to deploying proprietary server hardware, switches, and storage across 150+ global co-located data centers.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Zscaler Revenue & Financials." CorpDigest, https://corpdigest.com/company/zscaler/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Zscaler reported $3.4B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/zscaler/financials" target="_blank" rel="noopener">CorpDigest — Zscaler financials</a></div>Related Financial Audits
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