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Zscaler shares soar as strong cybersecurity demand powers upbeat Q4 forecast https://t.co/fbiNBlgfhx https://t.co/QtHX3qEf2C
Zscaler Q1 results - Revenue +32%YoY Billings +30%YoY, DBNRR 116% 523 customers > $1m+ (+30%YoY) Adj. diluted EPS +83%YoY FCF +63%YoY (FCF margin 22%) FY 2024 rev. guidance $2.14-2.142b Disclosure: Long $ZS
Zscaler Q1 results - Revenue +32%YoY Billings +30%YoY, DBNRR 116% 523 > $1m+ (+30%YoY) Adj. diluted EPS +83%YoY FCF +63%YoY (FCF margin 22%) FY 2024 rev. guidance $2.14-2.142b Disclosure: Long $ZS
Zscaler reported strong Q1 results, beating earnings estimates by $0.22 and surpassing revenue expectations. The company reported a 32% year-over-year increase in revenue and a 30% year-over-year increase in billings, with a dollar-based net retention rate (DBNRR) of 116%. Zscaler's adjusted diluted EPS rose by 83% year-over-year, and free cash flow (FCF) increased by 63%, with an FCF margin of 22%. The company also reported having 523 customers with contracts over $1 million, a 30% increase year-over-year. For fiscal year 2024, Zscaler provided revenue guidance in the range of $2.14 to $2.142 billion and guided Q4 EPS above consensus. Following the announcement, Zscaler's stock spiked as the market reacted positively to the strong earnings and optimistic Q4 forecast.