ZS · Zscaler, 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 | Q3 '26 | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $850.48M | $815.75M | $788.11M | $678.03M | $647.90M | $627.96M | $553.20M | $525.00M | $496.70M | $418.80M |
| Cost of Revenue | $192.65M | $191.26M | $184.75M | $155.98M | $148.50M | $141.46M | $118.33M | $117.20M | $111.39M | $95.85M |
| Gross Profit | $657.82M | $624.49M | $603.36M | $522.06M | $499.40M | $486.49M | $434.87M | $407.80M | $385.31M | $322.95M |
| R&D | $232.28M | $229.14M | $200.50M | $169.76M | $170.86M | $154.25M | $124.96M | $122.18M | $113.54M | $92.64M |
| SG&A | $83.24M | $78.18M | $65.66M | $63.10M | $60.81M | $56.82M | $50.48M | $54.59M | $50.72M | $43.49M |
| Total Operating Expenses | $687.46M | $676.26M | $639.72M | $547.47M | $539.54M | $517.16M | $437.88M | $453.26M | $431.37M | $378.70M |
| D&A | - | - | - | - | - | - | - | - | - | - |
| Operating Income | ($29.64M) | ($51.77M) | ($36.36M) | ($25.41M) | ($40.14M) | ($30.67M) | ($3.01M) | ($45.46M) | ($46.06M) | ($55.75M) |
| Interest Expense | $2.70M | $4.22M | $2.13M | $1.34M | $1.34M | $1.34M | $2.76M | $3.60M | $3.16M | $1.38M |
| Income Tax | $11.51M | $13.01M | $3.24M | $8.69M | ($8.81M) | $7.64M | $1.74M | $7.96M | $9.00M | $6.68M |
| Net Income | ($13.88M) | ($34.31M) | ($11.62M) | ($4.13M) | ($7.72M) | ($12.05M) | $19.12M | ($28.47M) | ($33.48M) | ($46.05M) |
| EPS - Basic | ($0.09) | ($0.21) | ($0.07) | ($0.03) | ($0.05) | ($0.08) | $0.13 | ($0.19) | ($0.23) | ($0.32) |
| EPS - Diluted | ($0.09) | ($0.21) | ($0.07) | ($0.03) | ($0.05) | ($0.08) | $0.12 | ($0.19) | ($0.23) | ($0.32) |
Balance Sheet
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $982.11M | $1.20B | $1.34B | $2.39B | $1.76B | $1.55B | $1.42B | $1.44B | $1.36B | $1.26B |
| Accounts Receivable | $730.46M | $551.82M | $530.49M | $992.18M | $514.31M | $424.57M | $736.53M | $479.61M | $366.84M | $582.64M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $33.87M | $29.03M | $48.40M | $46.91M | $24.60M | $25.37M | $23.31M | $17.14M | $23.23M | $18.48M |
| Current Assets | $4.65B | $4.45B | $4.21B | $4.89B | $3.67B | $3.39B | $3.40B | $3.14B | $2.89B | $2.89B |
| Total Assets | $7.10B | $6.75B | $6.50B | $6.42B | $5.01B | $4.71B | $4.70B | $3.93B | $3.64B | $3.61B |
| Current Liabilities | $2.50B | $2.34B | $2.31B | $2.43B | $3.05B | $2.96B | $3.11B | $1.58B | $1.47B | $1.54B |
| Long-term Debt | - | - | - | $1.15B | $1.15B | $1.15B | $1.14B | $1.14B | $1.13B | $1.13B |
| Total Liabilities | $4.73B | $4.56B | $4.52B | $4.62B | $3.40B | $3.28B | $3.43B | $2.98B | $2.83B | $2.88B |
| Stockholders' Equity | $2.37B | $2.20B | $1.98B | $1.80B | $1.61B | $1.43B | $1.27B | $958.86M | $807.52M | $725.11M |
| Retained Earnings | ($1.25B) | ($1.24B) | ($1.20B) | ($1.19B) | ($1.17B) | ($1.16B) | ($1.15B) | ($1.15B) | ($1.12B) | ($1.09B) |
Cash Flow
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $448.28M | - | - | $331.33M | - | - | $260.81M | - |
| Investing Cash Flow | - | - | ($1.50B) | - | - | ($201.66M) | - | - | ($162.54M) | - |
| Financing Cash Flow | - | - | $3.10M | - | - | $890.0K | - | - | $1.26M | - |
| CapEx | - | - | $17.31M | - | - | $17.02M | - | - | $28.66M | - |
| Free Cash Flow | - | - | $430.97M | - | - | $314.31M | - | - | $232.15M | - |
Ratios
| Metric | Q3 '26 | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 77.3% | 76.6% | 76.6% | 77.0% | 77.1% | 77.5% | 78.6% | 77.7% | 77.6% | 77.1% |
| Operating margin | -3.5% | -6.3% | -4.6% | -3.7% | -6.2% | -4.9% | -0.5% | -8.7% | -9.3% | -13.3% |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | -1.6% | -4.2% | -1.5% | -0.6% | -1.2% | -1.9% | 3.5% | -5.4% | -6.7% | -11.0% |
| Free cash flow margin | - | - | 54.7% | - | - | 50.1% | - | - | 46.7% | - |
| FCF / Net income | - | - | -37.10 | - | - | -26.08 | - | - | -6.93 | - |
| R&D / Revenue | 27.3% | 28.1% | 25.4% | 25.0% | 26.4% | 24.6% | 22.6% | 23.3% | 22.9% | 22.1% |
| SG&A / Revenue | 9.8% | 9.6% | 8.3% | 9.3% | 9.4% | 9.0% | 9.1% | 10.4% | 10.2% | 10.4% |
| Effective tax rate | - | - | - | 190.4% | - | - | 8.3% | - | - | - |
| Return on assets | -0.2% | -0.5% | -0.2% | -0.1% | -0.2% | -0.3% | 0.4% | -0.7% | -0.9% | -1.3% |
| Return on equity | -0.6% | -1.6% | -0.6% | -0.2% | -0.5% | -0.8% | 1.5% | -3.0% | -4.1% | -6.4% |
| Return on invested capital | - | - | - | -0.4% | -1.2% | -0.9% | -0.1% | -1.7% | -1.9% | -2.4% |
| Liquidity | ||||||||||
| Current ratio | 1.86 | 1.90 | 1.82 | 2.01 | 1.20 | 1.15 | 1.09 | 1.98 | 1.96 | 1.88 |
| Quick ratio | 1.86 | 1.90 | 1.82 | 2.01 | 1.20 | 1.15 | 1.09 | 1.98 | 1.96 | 1.88 |
| Cash ratio | 0.39 | 0.51 | 0.58 | 0.98 | 0.58 | 0.52 | 0.46 | 0.91 | 0.92 | 0.82 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | 0.64 | 0.71 | 0.80 | 0.90 | 1.19 | 1.40 | 1.56 |
| Debt / Assets | - | - | - | 0.18 | 0.23 | 0.24 | 0.24 | 0.29 | 0.31 | 0.31 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -11.0x | -12.3x | -17.1x | -18.9x | -29.9x | -22.9x | -1.1x | -12.6x | -14.6x | -40.3x |
| Equity multiplier | 3.00 | 3.08 | 3.28 | 3.57 | 3.11 | 3.30 | 3.69 | 4.10 | 4.50 | 4.98 |
| Liabilities / Assets | 0.67 | 0.67 | 0.70 | 0.72 | 0.68 | 0.70 | 0.73 | 0.76 | 0.78 | 0.80 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | 0.12 | 0.12 | 0.11 | 0.13 | 0.13 | 0.12 | 0.13 | 0.14 | 0.12 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 313d | 247d | 246d | 534d | 290d | 247d | 486d | 333d | 270d | 508d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 64d | 55d | 96d | 110d | 60d | 65d | 72d | 53d | 76d | 70d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | 1494.6x | - | - | - |
| P / B | 8.9x | 14.5x | 26.5x | 24.6x | 19.4x | 19.3x | 21.7x | 36.6x | 29.0x | 32.1x |
| P / S | 24.7x | 39.2x | 66.6x | 65.2x | 48.1x | 43.9x | 50.0x | 66.9x | 47.2x | 55.7x |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 25.4% | 25.9% | 25.5% | 22.6% | 23.4% | - | 32.1% | 35.4% | - | 46.0% |
| Revenue CAGR (3y) | 26.6% | 28.2% | 16.6% | 33.2% | 36.4% | - | 46.4% | 49.5% | 74.4% | 55.9% |
| Revenue CAGR (5y) | 37.0% | 39.0% | 27.9% | 43.7% | 44.9% | 46.3% | 47.5% | 63.5% | - | 66.3% |
| Gross profit growth (YoY) | 26.0% | 25.0% | 24.0% | 20.0% | 22.5% | - | 34.7% | 35.9% | - | 45.0% |
| Operating income growth (YoY) | -16.6% | -29.0% | -18.6% | -743.4% | 11.7% | - | 94.6% | 30.3% | - | 35.6% |
| Net income growth (YoY) | -236.6% | -344.2% | 3.6% | - | 72.9% | - | - | 50.4% | - | 54.6% |
| EPS growth (YoY) | -200.0% | -320.0% | 12.5% | - | 73.7% | - | - | 52.5% | - | 25.6% |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | 37.1% | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | 37.8% | - | - | 94.8% | - | - | - | - |
| Book value growth (YoY) | 31.5% | 36.6% | 38.8% | 41.2% | 67.6% | - | 75.7% | 81.4% | - | 26.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-07-31.
Business segments
$2.67B totalReportable Segment$2.67B · 100.0%
Geographic
$2.67B totalUS$1.36B · 50.9%
EMEA$792.82M · 29.7%
Asia Pacific$423.81M · 15.9%
Other$97.16M · 3.6%
Peer comparison
Same SIC group: Services-Computer Programming Services
Comparing Zscaler against the 5 most active filers in the same SIC group.