Zoom Communications Inc

Latest Results (19.07.2026):

Zoom Communications Inc's fourth quarter of fiscal year 2026 results show modest revenue growth and strong profitability driven in part by large, non‑operating gains. Q4 revenue was $1,247.0 million (+5.3% year‑over‑year) and full fiscal year revenue was $4,868.8 million (+4.4%). The company reported higher GAAP operating and net margins and substantial cash and marketable securities, while providing FY27 guidance that targets surpassing $5 billion in revenue.

Top-line

Q4 total revenue: $1,247.0M (+5.3% YoY; +4.8% in constant currency). FY26 total revenue: $4,868.8M (+4.4% YoY; +4.2% constant currency). Enterprise revenue Q4: $757.3M (+7.1% YoY); FY26 Enterprise: $2,934.1M (+6.5% YoY).

Profitability (GAAP vs non‑GAAP)

Q4 GAAP operating margin 20.0% (up 100 bps YoY); Q4 non‑GAAP operating margin 39.3% (down 20 bps YoY). FY26 GAAP operating margin 23.1% (up 570 bps); FY26 non‑GAAP operating margin 40.4% (up 100 bps).

Earnings per share

Q4 GAAP EPS: $2.22 (+91.4% YoY). Q4 non‑GAAP EPS: $1.44 (+2.1% YoY). FY26 GAAP EPS: $6.18 (+92.5% YoY). FY26 non‑GAAP EPS: $5.92 (+6.9% YoY).

Net income and special items

Q4 GAAP net income: $674.1M. Results were materially affected by gains on strategic investments (Q4 gain of ~$532.3M), which boosted GAAP net income relative to operating results; non‑GAAP measures strip such items and stock‑based compensation.

Cash, cash flow and buybacks

Cash, cash equivalents and marketable securities (ex‑restricted): $7.8B as of Jan 31, 2026. Q4 free cash flow: $338.4M; FY26 free cash flow: $1,924.1M. Repurchased ~3.8M shares in Q4 and ~20.4M shares in FY26; ~$1.0B repurchase authorization remaining.

Customer and usage metrics

Customers contributing >$100k in 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 prior).

Guidance for FY27

Q1 FY27 revenue expected $1.220B–$1.225B; Q1 non‑GAAP diluted EPS $1.40–$1.42 (≈304M shares). FY27 revenue expected $5.065B–$5.075B; FY27 non‑GAAP diluted EPS $5.77–$5.81 (≈308M shares). FY27 free cash flow guidance $1.70B–$1.74B.

Balance sheet snapshot

Total assets: $11.96B; total stockholders’ equity: $9.81B (as of Jan 31, 2026). Accounts receivable, net: $497.3M. Deferred revenue (current): $1,411.1M.