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Zscaler Reports Fourth Quarter and Fiscal 2024 Financial Results
ZSZscaler(ZS) GlobeNewswire News Room·2024-09-03 20:05

Financial Performance - Revenue for the fourth quarter grew 30% year-over-year to 592.9million[1][3]−Calculatedbillingsincreased27592.9 million [1][3] - Calculated billings increased 27% year-over-year to 910.8 million [1][29] - Deferred revenue rose 32% year-over-year to 1,895.0million[1][29]−GAAPnetlossdecreasedto1,895.0 million [1][29] - GAAP net loss decreased to 14.9 million from 30.7millionyear−over−year[1][3]−Non−GAAPnetincomeincreasedto30.7 million year-over-year [1][3] - Non-GAAP net income increased to 140.6 million from 100.9millionyear−over−year[1][3]−Cashprovidedbyoperationswas100.9 million year-over-year [1][3] - Cash provided by operations was 203.6 million, or 34% of revenue, compared to 30% in the same quarter last year [3][29] - Free cash flow was 136.3million,or23136.3 million, or 23% of revenue, compared to 22% in the same quarter last year [3][29] Full Year Highlights - Total revenue for fiscal 2024 was 2,167.8 million, a 34% increase year-over-year [4] - GAAP net loss for the full year was 57.7million,downfrom57.7 million, down from 202.3 million in fiscal 2023 [4] - Non-GAAP net income for the full year was 508.1million,comparedto508.1 million, compared to 277.0 million in fiscal 2023 [4] - Cash provided by operations for the full year was 779.8million,or36779.8 million, or 36% of revenue, compared to 29% in fiscal 2023 [4] Business Developments - The company surpassed half a trillion daily transactions, reinforcing its leadership in the Zero Trust cloud security market [5] - Collaborated with Google Chrome Enterprise to enhance secure access and data protection for enterprise users [6] - Launched innovations in AI Data Protection, enhancing its capabilities to protect data across various channels [7] - Announced a partnership with NVIDIA to accelerate AI-powered security services for enterprises [8] Future Outlook - For Q1 fiscal 2025, the company expects revenue between 604 million and 606million[10]−Forthefullyearfiscal2025,projectedrevenueisapproximately606 million [10] - For the full year fiscal 2025, projected revenue is approximately 2.60 billion to 2.62billion[10]−Non−GAAPnetincomepershareforfiscal2025isexpectedtobebetween2.62 billion [10] - Non-GAAP net income per share for fiscal 2025 is expected to be between 2.81 and $2.87 [10] Changes in Financial Reporting - Effective August 1, 2024, the company will use a long-term projected non-GAAP tax rate of 23% for non-GAAP net income calculations [9][35]