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Zoom Video Communications, Inc. (ZM) SEC Filing 10-K Annual Report for the fiscal year ending Monday, January 31, 2022

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Zoom Video Communications, Inc.

HISTORY TOOLS
CIK: 1585521 Ticker: ZM

Exhibit 99.1
Zoom Video Communications Reports Fourth Quarter and Fiscal Year 2022 Financial Results
•Year-end number of customers contributing more than $100,000 in trailing 12 months revenue up approximately 66% year over year
•Fourth quarter total revenue of $1,071.4 million, up 21% year over year; full fiscal year total revenue of $4,099.9 million, up 55% year over year
•Fourth quarter GAAP income from operations of $251.8 million, down 2% year over year; full fiscal year GAAP income from operations of $1,063.6 million, up 61% year over year
•Fourth quarter non-GAAP income from operations of $420.3 million, up 16% year over year; full fiscal year non-GAAP income from operations of $1,657.1 million, up 69% year over year
•Authorization to repurchase up to $1.0 billion of Zoom’s Class A common stock
San Jose, California – February 28, 2022 – Zoom Video Communications, Inc. (NASDAQ: ZM), a leading provider of video-first unified communications, today announced financial results for the fourth quarter and fiscal year ended January 31, 2022.

“In fiscal year 2022, we delivered strong results with total revenue of more than $4 billion growing 55% year over year along with increased profitability and operating cash flow growth as our global customer base continued to grow and find new use cases for our broadening communications platform,” said Zoom founder and CEO, Eric S. Yuan. “Looking forward, we are addressing a large opportunity as we expect customers will continue to transform how they work and engage with their customers. It is apparent that businesses want a full communications platform that is integrated, secure, and easy to use. We are proud to lead the charge of the digital transformation for communications. To sustain and enhance our leadership position, in fiscal year 2023 we plan to build out our platform to further enrich the customer experience with new cloud-based technologies and expand our go-to-market motions, which we believe will enable us to drive future growth.”
Fourth Quarter Fiscal Year 2022 Financial Highlights:
•Revenue: Total revenue for the quarter was $1,071.4 million, up 21% year over year.
•Income from Operations and Operating Margin: GAAP income from operations for the quarter was $251.8 million, compared to GAAP income from operations of $256.1 million in the fourth quarter of fiscal year 2021. After adjusting for stock-based compensation expense and related payroll taxes, and acquisition-related expenses, non-GAAP income from operations for the fourth quarter was $420.3 million, up from $360.9 million in the fourth quarter of fiscal year 2021. For the fourth quarter, GAAP operating margin was 23.5% and non-GAAP operating margin was 39.2%.
•Net Income and Diluted Net Income Per Share: GAAP net income attributable to common stockholders for the quarter was $490.5 million, or $1.60 per share, compared to GAAP net income attributable to common stockholders of $260.4 million, or $0.87 per share in the fourth quarter of fiscal year 2021.
Non-GAAP net income for the quarter was $393.6 million, after adjusting for stock-based compensation expense and related payroll taxes, acquisition-related expenses, losses on strategic investments, income tax benefits from discrete activities, and undistributed earnings attributable to participating securities. Non-GAAP net income per share was $1.29. In the fourth quarter of fiscal year 2021, non-GAAP net income was $365.4 million, or $1.22 per share.
•Cash and Marketable Securities: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of January 31, 2022 was $5,419.3 million.
•Cash Flow: Net cash provided by operating activities was $209.4 million for the quarter, compared to $399.4 million in the fourth quarter of fiscal year 2021. Adjusted free cash flow, which is net cash provided by operating activities less purchases of property and equipment, plus litigation settlement payments, net, was $273.6 million, compared to $377.9 million in the fourth quarter of fiscal year 2021.
Full Fiscal Year 2022 Financial Highlights:
•Revenue: Total revenue for the fiscal year was $4,099.9 million, up 55% year over year.

The following information was filed by Zoom Video Communications, Inc. (ZM) on Monday, February 28, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Zoom Video Communications, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flow
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Convertible Preferred Stock And Stockholders' (Deficit) Equity
Consolidated Statements Of Operations
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Additional Information (Details)
Balance Sheet Components - Other Assets, Noncurrent (Details)
Balance Sheet Components - Prepaid Expenses And Other Current Assets (Details)
Balance Sheet Components - Schedule Of Accrued Expenses And Other Current Liabilities (Details)
Balance Sheet Components - Schedule Of Other Liabilities Non Current (Details)
Balance Sheet Components - Schedule Of Property And Equipment (Details)
Business Combinations
Business Combinations (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of The Net Income (Loss) Before Provision Of Income Taxes (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Position (Details)
Income Taxes - Schedule Of Current And Deferred Income Tax Provision (Details)
Income Taxes - Schedule Of Provision For Income Taxes (Details)
Income Taxes - Significant Components Of Deferred Income Tax Assets (Details)
Investments
Investments (Tables)
Investments - Additional Information (Details)
Investments - Schedule Of Strategic Investments (Details)
Investments - Summary Marketable Securities (Details)
Investments - Summary Of Contractual Maturities Of Marketable Securities (Details)
Net Income Per Share Attributable To Common Stockholders
Net Income Per Share Attributable To Common Stockholders (Tables)
Net Income Per Share Attributable To Common Stockholders - Narrative (Details)
Net Income Per Share Attributable To Common Stockholders - Schedule Of Computation Of Basic And Diluted Net Income Per Share (Details)
Net Income Per Share Attributable To Common Stockholders - Summary Of Potential Shares Of Common Stock Excluded From Computation Of Diluted Net Income (Loss) Per Share Attributable To Common Stockholders (Details)
Operating Leases
Operating Leases (Tables)
Operating Leases - Additional Information (Details)
Operating Leases - Schedule Of Future Minimum Lease Payments Included In Measurement Of Operating Lease Liabilities (Details)
Operating Leases - Schedule Of Supplemental Balance Sheet Information (Details)
Operating Leases - Schedule Of Supplemental Cash Flow Information (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Deferred Contract Acquisition Costs (Details)
Revenue Recognition - Remaining Performance Obligation (Details)
Revenue Recognition - Summary Disaggregation Of Revenue By Region (Details)
Schedule Ii: Valuation And Qualifying Accounts
Schedule Ii: Valuation And Qualifying Accounts (Details)
Stockholders' Equity And Equity Incentive Plans
Stockholders' Equity And Equity Incentive Plans (Tables)
Stockholders' Equity And Equity Incentive Plans - Additional Information (Details)
Stockholders' Equity And Equity Incentive Plans - Fair Value Of Espp Purchase Rights Assumptions (Details)
Stockholders' Equity And Equity Incentive Plans - Schedule Of Assumptions For Employee Options At Grant Dates (Details)
Stockholders' Equity And Equity Incentive Plans - Schedule Of Stock By Class Reserved For Future Issuance (Details)
Stockholders' Equity And Equity Incentive Plans - Summary Of Restricted Stock Units Activity Under Equity Incentive Plan (Details)
Stockholders' Equity And Equity Incentive Plans - Summary Of Stock Option Activity Under Equity Incentive Plan (Details)
Stockholders' Equity And Equity Incentive Plans - Summary Of Stock-Based Compensation Expense By Line Item (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Business And Significant Accounting Policies
Summary Of Business And Significant Accounting Policies (Policies)
Summary Of Business And Significant Accounting Policies (Tables)
Summary Of Business And Significant Accounting Policies - Accounts Receivable Allowance For Credit Loss Rollforward (Details)
Summary Of Business And Significant Accounting Policies - Accounts Receivable, Allowance For Credit Loss (Details)
Summary Of Business And Significant Accounting Policies - Additional Information (Details)
Summary Of Business And Significant Accounting Policies - Schedule Of Property And Equipment (Details)
Ticker: ZM
CIK: 1585521
Form Type: 10-K Annual Report
Accession Number: 0001585521-22-000037
Submitted to the SEC: Mon Mar 07 2022 4:02:53 PM EST
Accepted by the SEC: Mon Mar 07 2022
Period: Monday, January 31, 2022
Industry: Computer Programming Data Processing

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