ZEN · Zendesk, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $1.34B | $1.03B | $816.42M | $312.84M | $430.49M | $312.00M |
| Cost of Revenue | $274.88M | $251.25M | $234.28M | $181.25M | $127.42M | $93.90M |
| Gross Profit | $1.06B | $778.31M | $582.13M | $417.49M | $303.07M | $218.10M |
| R&D | $352.05M | $255.40M | $207.55M | $160.26M | $115.29M | $91.07M |
| SG&A | $198.55M | $166.47M | $141.08M | $103.49M | $81.68M | $64.37M |
| Total Operating Expenses | $1.23B | $934.21M | $745.14M | $555.42M | $417.71M | $322.43M |
| D&A | $37.61M | $42.25M | $38.60M | $36.52M | $31.93M | $27.51M |
| Operating Income | ($166.68M) | ($155.90M) | ($163.00M) | ($137.93M) | ($114.64M) | ($104.33M) |
| Interest Expense | $58.72M | $43.32M | $0 | - | - | - |
| Income Tax | $6.88M | $5.76M | $1.35M | ($12.11M) | ($1.52M) | $993.0K |
| Net Income | ($223.64M) | ($218.18M) | ($169.65M) | ($131.08M) | ($110.64M) | ($103.80M) |
| EPS - Basic | ($1.89) | - | - | - | - | - |
| EPS - Diluted | ($1.89) | - | - | - | - | - |
Balance Sheet
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $476.10M | $405.43M | $196.59M | $126.52M | $109.37M | $93.68M |
| Accounts Receivable | $273.90M | $199.24M | $127.81M | $85.28M | $57.10M | $37.34M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $49.21M | $15.43M | $38.38M | $16.82M | $5.31M | $4.55M |
| Current Assets | $1.42B | $1.28B | $692.82M | $572.60M | $328.21M | $279.82M |
| Total Assets | $2.45B | $2.16B | $1.51B | $1.24B | $560.20M | $475.29M |
| Current Liabilities | $911.34M | $692.64M | $478.68M | $342.76M | $230.72M | $167.22M |
| Long-term Debt | $979.35M | $935.58M | $483.46M | $458.18M | - | - |
| Total Liabilities | $1.96B | $1.73B | $1.06B | $820.96M | $238.56M | $175.86M |
| Stockholders' Equity | $489.22M | $431.83M | $457.98M | $416.92M | $321.64M | $299.43M |
| Retained Earnings | ($1.14B) | ($916.88M) | ($698.78M) | ($529.13M) | ($430.59M) | ($319.72M) |
Cash Flow
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $169.76M | $26.43M | $89.26M | $24.56M | $42.09M | $24.52M |
| Investing Cash Flow | ($159.45M) | ($382.33M) | ($66.75M) | ($182.36M) | ($69.87M) | ($182.36M) |
| Financing Cash Flow | $59.23M | $563.82M | $48.41M | $35.63M | $43.14M | $35.63M |
| CapEx | $15.15M | $22.88M | $39.14M | $35.32M | $16.40M | $20.65M |
| Free Cash Flow | $154.62M | $3.55M | $50.12M | ($10.76M) | $25.70M | $3.88M |
Ratios
| Metric | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 79.5% | 75.6% | 71.3% | 133.5% | 70.4% | 69.9% |
| Operating margin | -12.5% | -15.1% | -20.0% | -44.1% | -26.6% | -33.4% |
| EBITDA margin | -9.6% | -11.0% | -15.2% | -32.4% | -19.2% | -24.6% |
| Net margin | -16.7% | -21.2% | -20.8% | -41.9% | -25.7% | -33.3% |
| Free cash flow margin | 11.6% | 0.3% | 6.1% | -3.4% | 6.0% | 1.2% |
| FCF / Net income | -0.69 | -0.02 | -0.30 | 0.08 | -0.23 | -0.04 |
| R&D / Revenue | 26.3% | 24.8% | 25.4% | 51.2% | 26.8% | 29.2% |
| SG&A / Revenue | 14.8% | 16.2% | 17.3% | 33.1% | 19.0% | 20.6% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -9.1% | -10.1% | -11.2% | -10.6% | -19.7% | -21.8% |
| Return on equity | -45.7% | -50.5% | -37.0% | -31.4% | -34.4% | -34.7% |
| Return on invested capital | -9.0% | -9.0% | -13.7% | -12.5% | - | - |
| Liquidity | ||||||
| Current ratio | 1.56 | 1.84 | 1.45 | 1.67 | 1.42 | 1.67 |
| Quick ratio | 1.56 | 1.84 | 1.45 | 1.67 | 1.42 | 1.67 |
| Cash ratio | 0.52 | 0.59 | 0.41 | 0.37 | 0.47 | 0.56 |
| Leverage | ||||||
| Debt / Equity | 2.00 | 2.17 | 1.06 | 1.10 | - | - |
| Debt / Assets | 0.40 | 0.43 | 0.32 | 0.37 | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -2.8x | -3.6x | - | - | - | - |
| Equity multiplier | 5.01 | 5.00 | 3.31 | 2.97 | 1.74 | 1.59 |
| Liabilities / Assets | 0.80 | 0.80 | 0.70 | 0.66 | 0.43 | 0.37 |
| Efficiency | ||||||
| Asset turnover | 0.55 | 0.48 | 0.54 | 0.25 | 0.77 | 0.66 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 75d | 71d | 57d | 99d | 48d | 44d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 65d | 22d | 60d | 34d | 15d | 18d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 30.0% | 26.1% | 161.0% | -27.3% | 38.0% | 49.4% |
| Revenue CAGR (3y) | 62.3% | 33.7% | 37.8% | 14.4% | 124.1% | - |
| Revenue CAGR (5y) | 33.8% | 37.6% | 84.5% | - | - | - |
| Gross profit growth (YoY) | 36.7% | 33.7% | 39.4% | 37.8% | 39.0% | 54.0% |
| Operating income growth (YoY) | -6.9% | 4.4% | -18.2% | -20.3% | -9.9% | -25.7% |
| Net income growth (YoY) | -2.5% | -28.6% | -29.4% | -18.5% | -6.6% | -23.5% |
| EPS growth (YoY) | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 4254.1% | -92.9% | - | - | 563.2% | - |
| FCF CAGR (5y) | 109.0% | - | - | - | - | - |
| Book value growth (YoY) | 13.3% | -5.7% | 9.8% | 29.6% | 7.4% | 2.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Geographic
$1.34B totalUS$679.19M · 50.7%
EMEA$392.78M · 29.3%
Asia Pacific$137.46M · 10.3%
Other Countries$129.17M · 9.6%
Stability scores
Altman Z′
FY 2021 · bankruptcy risk
0.19
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2021 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- -No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Computer Processing & Data Preparation
Comparing Zendesk against the 5 most active filers in the same SIC group.