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Oct 31, 2023
Zscaler Q1 2024 Earnings Report
Zscaler's first quarter of fiscal year 2024 financial results were announced, demonstrating strong growth and exceeding guidance.
Key Takeaways
Zscaler reported a strong start to fiscal year 2024, with revenue growing 40% year-over-year to $496.7 million and calculated billings increasing 34% year-over-year to $456.6 million. The company's GAAP net loss decreased compared to the previous year, while non-GAAP net income significantly increased.
Revenue grew 40% year-over-year to $496.7 million.
Calculated billings grew 34% year-over-year to $456.6 million.
GAAP net loss was $33.5 million, an improvement from the previous year's $68.2 million loss.
Non-GAAP net income was $106.5 million, significantly up from $44.0 million in the prior year.
Forward Guidance
For the second quarter of fiscal 2024, Zscaler expects revenue of $505 million to $507 million and non-GAAP net income per share of approximately $0.57 to $0.58. For the full year fiscal 2024, the company anticipates revenue of approximately $2.09 billion to $2.10 billion and non-GAAP net income per share of $2.45 to $2.48.
Positive Outlook
- Revenue of $505 million to $507 million is expected for Q2 2024.
- Non-GAAP income from operations of $84 million to $86 million is projected for Q2 2024.
- Non-GAAP net income per share of approximately $0.57 to $0.58 is anticipated for Q2 2024.
- Revenue of approximately $2.09 billion to $2.10 billion is expected for the full year fiscal 2024.
- Non-GAAP net income per share of $2.45 to $2.48 is projected for the full year fiscal 2024.
Challenges Ahead
- Forward-looking statements are subject to risks and uncertainties.
- Actual results may differ materially from expectations.
- Macroeconomic influences and instability could impact results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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