Zoom Q1 2023 Earnings Report
Key Takeaways
Zoom Video Communications announced its financial results for the first quarter of fiscal year 2023, with total revenue of $1,073.8 million, up 12% year over year. The company reported a GAAP operating margin of 17.4% and a non-GAAP operating margin of 37.2%. Net cash provided by operating activities was $526.2 million, representing a 49.0% margin.
Total revenue for the first quarter reached $1,073.8 million, a 12% increase year over year.
GAAP operating margin was 17.4%, while non-GAAP operating margin was 37.2%.
Net cash provided by operating activities amounted to $526.2 million, a 49.0% margin.
The number of customers contributing more than $100,000 in trailing 12 months revenue increased by 46% year over year.
Zoom
Zoom
Forward Guidance
Zoom provided guidance for the second quarter and full fiscal year 2023.
Positive Outlook
- Second quarter revenue is expected to be between $1.115 billion and $1.120 billion.
- Second quarter non-GAAP income from operations is expected to be between $360.0 million and $365.0 million.
- Second quarter non-GAAP diluted EPS is expected to be between $0.90 and $0.92.
- Full fiscal year revenue is expected to be between $4.530 billion and $4.550 billion.
- Full fiscal year non-GAAP income from operations is expected to be between $1.480 billion and $1.500 billion.
Challenges Ahead
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis.
- The unavailability is due to the uncertainty of expenses that may be incurred in the future.
- These factors could be material to Zoom's results computed in accordance with GAAP.
- The guidance is subject to numerous uncertainties and risks, including factors beyond Zoom's control.
- These risks could cause actual results, performance or achievement to differ materially and adversely from those anticipated.