Zoom Communications Inc

Latest Results (30.08.2026):

Zoom Communications, Inc. reported results for the fourth quarter of fiscal 2026 (Q4 FY2026). Q4 revenue was $1,247.0 million (up 5.3% YoY; +4.8% in constant currency) and full‑year revenue was $4,868.8 million (up 4.4% YoY). The quarter and year showed stronger enterprise performance, expanded margins year‑over‑year on a GAAP basis, substantial GAAP net income driven in part by gains on strategic investments, and continued cash generation and share repurchases.

Revenue

Q4 FY2026 total revenue: $1,247.0M (+5.3% YoY; +4.8% constant currency). FY2026 total revenue: $4,868.8M (+4.4% YoY). Enterprise revenue Q4: $757.3M (+7.1% YoY); FY Enterprise: $2,934.1M (+6.5% YoY). Online revenue Q4: $489.7M (+2.6% YoY).

Profitability (Operating Margin)

Q4 GAAP operating margin: 20.0% (up 100 bps YoY). Q4 non‑GAAP operating margin: 39.3% (down 20 bps YoY). FY2026 GAAP operating margin: 23.1% (up 570 bps YoY); FY non‑GAAP operating margin: 40.4% (up 100 bps YoY).

Net Income & EPS

Q4 GAAP net income: $674.1M; GAAP diluted EPS $2.22 (+91.4% YoY). Q4 non‑GAAP net income: $437.1M; non‑GAAP diluted EPS $1.44 (+2.1% YoY). FY2026 GAAP EPS $6.18 (+92.5% YoY); FY non‑GAAP EPS $5.92 (+6.9% YoY). Note: large gains on strategic investments materially lifted GAAP net income (e.g., $532.3M gain in Q4, $969.8M for the year).

Cash, Liquidity & Buybacks

Cash, cash equivalents and marketable securities (as of Jan 31, 2026): $7.8B. Q4 share repurchases ~3.8M shares; ~20.4M shares repurchased in FY2026. ~$1.0B remaining repurchase authorization as of Jan 31, 2026.

Cash Flow

Q4 net cash provided by operating activities: $354.5M; Q4 free cash flow: $338.4M. FY2026 operating cash flow: $1,989.0M; FY free cash flow: $1,924.1M.

Customer & Usage Metrics

Customers with >$100K trailing 12‑month revenue: 4,468 (up ~9.3% YoY). Trailing 12‑month net dollar expansion rate for Enterprise: 98%. Online average monthly churn (Q4): 2.9% (vs 2.8% a year earlier).

Guidance (FY2027 outlook)

Q1 FY2027 revenue guidance: $1.220B–$1.225B (constant currency $1.212B–$1.217B). Q1 non‑GAAP diluted EPS: $1.40–$1.42 (≈304M non‑GAAP shares). FY2027 revenue guidance: $5.065B–$5.075B (constant currency $5.054B–$5.064B). FY2027 non‑GAAP diluted EPS: $5.77–$5.81 (≈308M non‑GAAP shares). FY2027 free cash flow expected: $1.700B–$1.740B.

Non‑GAAP Adjustments & Drivers

Non‑GAAP results exclude items such as stock‑based compensation and related payroll taxes, gains on strategic investments, acquisition and impairment items, and charitable donation of stock. Gains on strategic investments were a significant positive impact on GAAP results in both the quarter and the year.