Zscaler Inc.

"The emergence and rapid adoption of AI is revolutionizing the transformational impact of cloud adoption and mobility. AI is fundamentally changing how organizations operate, creating new cybersecurity threats and IT challenges, but also the opportunity to use AI to counter cybersecurity threats and improve IT operations."

"We continue to see customer scrutiny of and elongated approval processes for transactions, particularly larger deals, as customers continue to carefully consider purchasing decisions and are requiring multiple approvals for large expenditures in response to the uncertain economic environment."

"We expect we will continue to incur net losses for the foreseeable future, as we continue to invest in our sales and marketing organization to maximize our market opportunity, to invest in research and development efforts to enhance the functionality of our cloud platform."

"Dollar-based net retention rate was 115% for the trailing 12 months ended October 31, 2025, demonstrating the value of our customer relationships and our land-and-expand model"

"We expect customer cautiousness to continue in the near term, elongating our sales cycles and the timing of large deals"

"We plan to integrate SPLX's technology with our AI Security offerings and accelerate innovations in Agentic AI-driven security operations with Red Canary acquisition"

"As of July 31, 2024, we had approximately 35% of the Forbes Global 2000 as customers"

"Our revenue has experienced significant growth in recent periods. For the nine months ended April 30, 2025 and 2024, our revenue was $1,953.9 million and $1,574.9 million, respectively"

"We continue to see customer scrutiny of and elongated approval processes for transactions, particularly larger deals, as customers continue to carefully consider purchasing decisions and are requiring multiple approvals for large expenditures in response to the uncertain economic environment"

"For the three months ended October 31, 2024 and 2023, our revenue was $628.0 million and $496.7 million, respectively."

"We continue to see customer scrutiny of and elongated approval processes for transactions, particularly larger deals, as customers continue to scrutinize purchasing decisions and are requiring multiple approvals for large expenditures in response to the uncertain economic environment."

"For the trailing 12 months ended October 31, 2024 and 2023, the dollar-based net retention rate was 114% and 120%, respectively."

"Our subscription pricing is primarily calculated on a per-user basis. We recognize subscription and support revenue ratably over the life of the contract, which is generally one to three years."

"We expect we will continue to incur net losses for the foreseeable future, as we continue to invest in our sales and marketing organization to take advantage of our market opportunity, to invest in research and development efforts to enhance the functionality of our cloud platform"

"As of April 30, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $3,824.1 million. We expect to recognize 51% of the transaction price over the next 12 months and 95% of the transaction price over the next three years"

"For the three months ended October 31, 2023 and 2022, our revenue was $496.7 million and $355.5 million, respectively"

"For the trailing 12 months ended October 31, 2023 and 2022, the dollar-based net retention rate was 120% and above 125%, respectively"

"We continue to see customer scrutiny of and elongated approval processes for transactions, particularly larger deals, as potential new customers continue to scrutinize purchasing decisions"