Zoom Communications Inc

Latest Results (08.06.2026):

Summary — Zoom Communications, Inc., Fourth Quarter of Fiscal Year 2026: Zoom reported Q4 FY2026 total revenue of $1,247.0 million (+5.3% YoY; +4.8% in constant currency) and full‑year revenue of $4,868.8 million (+4.4% YoY). Results included strong GAAP net income driven by large gains on strategic investments, continued enterprise momentum, solid free cash flow, and guidance that targets surpassing $5 billion in revenue for FY2027.

Revenue

Q4 FY2026 total revenue was $1,247.0M (+5.3% YoY; $1,241.2M in constant currency, +4.8%). Enterprise revenue was $757.3M (+7.1% YoY) while Online revenue was $489.7M (+2.6% YoY). Full FY2026 revenue was $4,868.8M (+4.4% YoY).

Profitability & EPS

Q4 GAAP operating margin was 20.0% (+100 bps YoY) and non‑GAAP operating margin was 39.3% (down 20 bps YoY). Q4 GAAP diluted EPS was $2.22 (+91.4% YoY) and non‑GAAP diluted EPS was $1.44 (+2.1% YoY). FY2026 GAAP EPS was $6.18 (+92.5%) and non‑GAAP EPS was $5.92 (+6.9%).

One‑time/Investment Effects

GAAP results were materially affected by gains on strategic investments: $532.3M in Q4 and $969.8M for FY2026, which substantially boosted GAAP net income relative to non‑GAAP results that exclude these gains and other adjustments (e.g., stock‑based comp, acquisition and impairment items).

Cash, Liquidity & Share Repurchases

Cash, cash equivalents and marketable securities totaled $7.8B as of January 31, 2026. Q4 net cash from operations was $354.5M and Q4 free cash flow $338.4M. Zoom repurchased ~3.8M shares in Q4 and ~20.4M shares in FY2026 (cash repurchases of ~$323.7M in Q4 and ~$1.62B for the year); ~$1.0B of authorized repurchase capacity remained as of Jan 31, 2026.

Customer & Usage Metrics

At quarter end Zoom had 4,468 customers contributing >$100K TTM revenue (up ~9.3% YoY). Trailing 12‑month net dollar expansion for Enterprise customers was 98%. Online average monthly churn was 2.9% in Q4 (vs. 2.8% a year ago).

Cash Flow & Balance Sheet

FY2026 net cash provided by operating activities was $1,989.0M and free cash flow was $1,924.1M (up 6.4% YoY). Balance sheet highlights include strategic investments of $1.58B and total assets of $11.96B as of Jan 31, 2026.

Outlook (FY2027 Guidance)

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); FY non‑GAAP diluted EPS $5.77–$5.81 (≈308M non‑GAAP shares); full‑year free cash flow expected $1.700B–$1.740B.