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Apr 30, 2024
Zscaler Q3 2024 Earnings Report
Zscaler's Q3 2024 financial results were reported, demonstrating strong growth and profitability improvements.
Key Takeaways
Zscaler reported a strong third quarter in fiscal year 2024, with revenue increasing by 32% year-over-year to $553.2 million. The company achieved GAAP net income of $19.1 million, a significant improvement from the previous year's net loss. Calculated billings grew by 30% year-over-year, and free cash flow also saw substantial growth.
Revenue increased by 32% year-over-year, reaching $553.2 million.
Calculated billings grew by 30% year-over-year, amounting to $628.0 million.
GAAP net income was $19.1 million, a notable improvement from the prior year's net loss of $46.0 million.
Free cash flow increased to $123.1 million, representing 22% of revenue.
Forward Guidance
For the fourth quarter of fiscal 2024, Zscaler expects revenue between $565 million and $567 million, non-GAAP income from operations between $107 million and $109 million, and non-GAAP net income per share between $0.69 and $0.70.
Positive Outlook
- Revenue is expected to be between $565 million and $567 million.
- Non-GAAP income from operations is projected to be between $107 million and $109 million.
- Non-GAAP net income per share is anticipated to be approximately $0.69 to $0.70.
- Full year revenue is expected to be approximately $2.140 billion to $2.142 billion.
- Full year calculated billings are projected to be between $2.603 billion to $2.606 billion.
Challenges Ahead
- These statements are forward-looking and actual results may differ materially.
- Guidance for non-GAAP income from operations excludes stock-based compensation expense.
- Guidance excludes amortization of debt issuance costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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