Zscaler Q3 2020 Earnings Report
Key Takeaways
Zscaler reported a strong third quarter with revenue growing 40% year-over-year to $110.5 million and calculated billings increasing 55% year-over-year to $131.3 million. The company benefited from the increased demand for secure remote access solutions due to the COVID-19 pandemic.
Revenue increased by 40% year-over-year, reaching $110.5 million.
Calculated billings grew by 55% year-over-year to $131.3 million.
GAAP net loss was $19.3 million, compared to a net loss of $12.2 million in the third quarter of fiscal 2019.
Non-GAAP net income was $9.0 million, compared to $7.4 million in the third quarter of fiscal 2019.
Zscaler
Zscaler
Forward Guidance
For the fourth quarter of fiscal 2020, Zscaler expects total revenue of $117 million to $119 million and non-GAAP earnings per share of approximately $0.02 to $0.03.
Positive Outlook
- Total revenue of $117 million to $119 million
- Non-GAAP income from operations of $2 million to $4 million
- Non-GAAP earnings per share of approximately $0.02 to $0.03
- Assuming approximately 140 million common shares outstanding
- Full year fiscal 2020, total revenue of $422 million to $424 million
Challenges Ahead
- Calculated billings of $529 million to $531 million
- Non-GAAP income from operations of $24 million to $26 million
- Non-GAAP earnings per share of $0.20 to $0.21
- Assuming approximately 138 million common shares outstanding
- Forward-looking statements and actual results may differ materially