Slack vs Zoom: Revenue, Profit and Business Model
Slack had $902.6M of annual revenue in FY2021. Zoom had $4.9B of annual revenue in FY2026 and $1.9B of net income.
Latest financial snapshot
Financial summary
Slack
Slack's public filings show fast growth with operating losses. Revenue rose from $400.6 million in fiscal 2019 to $630.4 million in fiscal 2020 and $902.6 million in fiscal 2021. Fiscal 2021 GAAP gross margin was 86.5%, GAAP operating loss was $283.1 million, and free cash flow was $62.2 million. Net dollar retention was 123%, and 108 customers paid more than $1 million a year. Salesforce paid $27.7 billion in cash and stock for the company in 2021 and has not disclosed Slack revenue as a separate line since; Benioff's March 2026 comment that Slack revenue grew about 2.5 times in five years is the latest public indicator.
Zoom
Zoom's revenue went from $622.7 million in fiscal 2020 to $4.100 billion in fiscal 2022, then growth slowed to 3.1% in fiscal 2025 and 4.4% in fiscal 2026 ($4.869 billion). GAAP net income was $1.900 billion in fiscal 2026. For the first half of fiscal 2027, GAAP net income was $1.968 billion. Most of that came from $1.767 billion of gains on strategic investments, so it overstates the operating business. Q2 fiscal 2027 GAAP operating income was $314.3 million (24.6% margin), and free cash flow was $472.4 million. Zoom guided fiscal 2027 revenue to $5.085-$5.095 billion and free cash flow to $1.780-$1.820 billion. It is also buying back stock, with about $1.3 billion of authorization remaining at July 31, 2026.
Revenue and profit by year
Slack
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2021 | $902.6M | — | — | +43.2% | Source |
| FY2020 | $630.4M | — | — | +57.4% | Source |
| FY2019 | $400.6M | — | — | — | Source |
Zoom
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $4.9B | $1.9B | 39.0% | +4.4% | Source |
| FY2025 | $4.7B | $1B | 21.7% | +3.1% | Source |
| FY2024 | $4.5B | $637.5M | 14.1% | +3.1% | Source |
| FY2023 | $4.4B | $103.7M | 2.4% | +7.1% | Source |
| FY2022 | $4.1B | $1.4B | 33.6% | +54.6% | Source |
| FY2021 | $2.7B | $672.3M | 25.4% | +325.8% | Source |
| FY2020 | $622.7M | $25.3M | 4.1% | +88.4% | Source |
| FY2019 | $330.5M | $7.6M | 2.3% | +118.2% | Source |
| FY2018 | $151.5M | -$3.8M | -2.5% | — | Source |
Where the revenue comes from
Slack
- Paid plan subscriptions (Pro, Business+)
Not disclosed
Per-user monthly or annual subscriptions for small and mid-sized teams; Pro is listed at $8.75 per user per month billed monthly.
- Enterprise subscriptions
Not disclosed
Custom contracts for large organizations needing multi-workspace administration, compliance and security controls.
- Salesforce bundles and AI
Not disclosed
Slack sold with Salesforce clouds and Agentforce; AI features are included in paid plans after the separate Slack AI add-on was withdrawn in 2025.
Zoom
- Enterprise~60%
Customers sold through Zoom's direct sales team, resellers and strategic partners. Fiscal 2026 revenue was $2.934 billion. Q2 fiscal 2027 revenue was $787.5 million, up 7.8%.
- Online~40%
Individuals and smaller businesses that subscribe through Zoom's website. Fiscal 2026 revenue was about $1.935 billion. Q2 fiscal 2027 revenue was $489.7 million, up 0.6%.
Business model and strategy
Slack
How it makes money
Slack makes money from per-user subscriptions. Teams can start on a free plan with 90 days of message history, then upgrade to Pro (listed at $8.75 per user per month billed monthly, or $7.25 billed annually), Business+, or enterprise plans with central administration, compliance and data controls.
Growth strategy
Slack's growth strategy has three parts: sell Slack with Salesforce's CRM and Agentforce products to existing Salesforce customers; make Slackbot and enterprise search the default way employees find information across Slack and connected apps; and open Slack to outside AI agents through APIs and an MCP server announced in 2025, so other vendors build on Slack rather than around it.
Competitive advantage
Slack's advantage is depth of adoption. The App Directory lists more than 2,600 apps, and engineering, IT and sales teams often wire alerts, approvals and bots straight into channels, which makes switching costly. Slack Connect lets separate companies share channels, so many customers also depend on Slack to talk to vendors and partners. Salesforce adds CRM data and Agentforce agents that can work inside Slack.
Zoom
How it makes money
Zoom sells per-user and per-seat subscriptions. It reports two customer groups. Enterprise covers organizations sold through its direct sales team, resellers and strategic partners; it brought in $2.934 billion in fiscal 2026, about 60% of revenue. Online covers customers who buy through the website, about $1.935 billion in fiscal 2026.
Growth strategy
Management describes Zoom as a 'system of action' for work. In practice that means selling Enterprise customers phone, contact center and AI agents, and buying companies to add adjacent workflows. BrightHire (interview intelligence) was bought in late 2025, and an agreement to buy Common Room (buyer intelligence for sales teams) was announced on July 2, 2026.
Competitive advantage
Widely known meetings brand; large installed base to sell phone and contact center into; high cash generation, with $7.2 billion of cash and marketable securities at July 31, 2026.
Questions about Slack vs Zoom
Which company has higher revenue — Slack Technologies, LLC or Zoom Communications, Inc.?
Slack Technologies, LLC had $902.6M (FY2021), while Zoom Communications, Inc. had $4.9B (FY2026). By latest annual revenue, Zoom Communications, Inc. is the larger business, with Slack Technologies, LLC showing a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Slack Technologies, LLC vs Zoom Communications, Inc.?
Zoom Communications, Inc. has a market capitalisation of $27.0B. A public market cap figure for Slack Technologies, LLC was not available (it may be privately held).
How does revenue per employee compare for Slack Technologies, LLC and Zoom Communications, Inc.?
Zoom Communications, Inc. generates $658k / employee in revenue per employee. A comparable figure for Slack Technologies, LLC requires matching employee and revenue data from the same reporting period.
How do Slack Technologies, LLC and Zoom Communications, Inc. make money?
Slack Technologies, LLC and Zoom Communications, Inc. generate revenue in fundamentally different ways. Slack Technologies, LLC: Slack makes money from per-user subscriptions. Zoom Communications, Inc.: Zoom sells per-user and per-seat subscriptions.
Is Slack Technologies, LLC bigger than Zoom Communications, Inc.?
By last reported revenue, Zoom Communications, Inc. ($4.9B (FY2026)) is the larger company compared to Slack Technologies, LLC ($902.6M (FY2021)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Slack vs Zoom overview