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Apr 30, 2021
Zoom Q1 2022 Earnings Report
Zoom's Q1 2022 financial results were released, showcasing substantial revenue growth and profitability.
Key Takeaways
Zoom Video Communications, Inc. reported a very strong first quarter with a 191% year-over-year increase in total revenue, alongside strong profitability and cash flow. The company is raising its full fiscal year guidance range to $3.975 billion to $3.990 billion.
Total revenue for the first quarter was $956.2 million, up 191% year over year.
GAAP income from operations for the first quarter was $226.3 million, up from $23.4 million in the first quarter of fiscal year 2021.
GAAP net income attributable to common stockholders for the first quarter was $227.4 million, or $0.74 per share.
Approximately 497,000 customers with more than 10 employees, up approximately 87% from the same quarter last fiscal year.
Forward Guidance
Zoom is providing the following guidance for its second quarter fiscal year 2022 and its full fiscal year 2022. Total revenue is expected to be between $985.0 million and $990.0 million and non-GAAP income from operations is expected to be between $355.0 million and $360.0 million. Non-GAAP diluted EPS is expected to be between $1.14 and $1.15 with approximately 311 million non-GAAP weighted average shares outstanding. Total revenue is expected to be between $3.975 billion and $3.990 billion. Non-GAAP income from operations is expected to be between $1.425 billion and $1.440 billion. Non-GAAP diluted EPS is expected to be between $4.56 and $4.61 with approximately 311 million non-GAAP weighted average shares outstanding.
Positive Outlook
- Total revenue is expected to be between $985.0 million and $990.0 million for Q2 2022.
- Non-GAAP income from operations is expected to be between $355.0 million and $360.0 million for Q2 2022.
- Non-GAAP diluted EPS is expected to be between $1.14 and $1.15 for Q2 2022.
- Total revenue is expected to be between $3.975 billion and $3.990 billion for full year 2022.
- Non-GAAP income from operations is expected to be between $1.425 billion and $1.440 billion for full year 2022.
Challenges Ahead
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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