Zscaler Q2 2024 Earnings Report
Key Takeaways
Zscaler's Q2 fiscal year 2024 shows strong financial performance with revenue reaching $525.0 million, a 35% year-over-year increase, and calculated billings growing by 27% to $627.6 million. The company's GAAP net loss decreased significantly, and non-GAAP net income saw substantial growth, highlighting the increasing adoption of the Zscaler Zero Trust Exchange platform.
Revenue increased by 35% year-over-year, reaching $525.0 million.
Calculated billings grew by 27% year-over-year, totaling $627.6 million.
GAAP net loss improved to $28.5 million compared to $57.5 million in the previous year.
Non-GAAP net income increased to $121.1 million, up from $57.6 million year-over-year.
Zscaler
Zscaler
Forward Guidance
For the third quarter of fiscal 2024, Zscaler expects revenue between $534 million and $536 million, non-GAAP income from operations between $98 million and $100 million, and non-GAAP net income per share between $0.64 and $0.65. For the full year fiscal 2024, the company anticipates revenue of approximately $2.118 billion to $2.122 billion, calculated billings of $2.55 billion to $2.57 billion, non-GAAP income from operations of $395 million to $400 million, and non-GAAP net income per share of $2.73 to $2.77.
Positive Outlook
- Revenue of $534 million to $536 million is expected for Q3 2024.
- Non-GAAP income from operations of $98 million to $100 million is projected for Q3 2024.
- Non-GAAP net income per share of approximately $0.64 to $0.65 is anticipated for Q3 2024.
- Revenue of approximately $2.118 billion to $2.122 billion is expected for the full year fiscal 2024.
- Calculated billings of $2.55 billion to $2.57 billion is projected for the full year fiscal 2024.
Challenges Ahead
- Guidance excludes stock-based compensation expense and related employer payroll taxes.
- Guidance excludes amortization of debt issuance costs.
- Guidance excludes amortization expense of acquired intangible assets.
- Certain items are out of the company's control or cannot be reasonably predicted.
- A reconciliation for the guidance for non-GAAP income from operations and non-GAAP net income per share is not available without unreasonable effort.