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Zscaler, Inc. (ZS) SEC Filing 10-K Annual Report for the fiscal year ending Monday, July 31, 2023

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Zscaler, Inc.

HISTORY TOOLS
CIK: 1713683 Ticker: ZS


Exhibit 99.1

Zscaler Reports Fourth Quarter and Fiscal 2023 Financial Results
Fourth Quarter Highlights
•Revenue grows 43% year-over-year to $455.0 million
•Calculated billings grows 38% year-over-year to $719.3 million
•Deferred revenue grows 41% year-over-year to $1,439.7 million
•GAAP net loss of $30.7 million compared to GAAP net loss of $97.7 million on a year-over-year basis
•Non-GAAP net income of $100.9 million compared to non-GAAP net income of $36.4 million on a year-over-year basis
SAN JOSE, California - September 5, 2023
 - Zscaler, Inc. (Nasdaq: ZS), the leader in cloud security, today announced financial results for its fiscal fourth quarter and fiscal year ended July 31, 2023.
"We concluded our fiscal year with strong top line growth and record operating profits. In less than two years, we doubled our annual recurring revenue, surpassing the $2 billion milestone. With cyber security as a high priority, IT executives are modernizing their legacy network security with our zero-trust architecture," said Jay Chaudhry, Chairman and CEO of Zscaler. “Our customers are realizing tremendous value from the new services and advanced capabilities delivered on our Zero Trust Exchange™ platform. We will continue to invest to delight our customers with more product innovations to capture the large opportunities ahead of us."

Fourth Quarter Fiscal 2023 Financial Highlights
•Revenue: $455.0 million, an increase of 43% year-over-year.
•Income (loss) from operations: GAAP loss from operations was $44.6 million, or 10% of revenue, compared to $82.5 million, or 26% of revenue, in the fourth quarter of fiscal 2022. Non-GAAP income from operations was $86.0 million, or 19% of revenue, compared to $38.1 million, or 12% of revenue, in the fourth quarter of fiscal 2022.
•Net income (loss): GAAP net loss was $30.7 million, compared to $97.7 million in the fourth quarter of fiscal 2022. Non-GAAP net income was $100.9 million, compared to $36.4 million in the fourth quarter of fiscal 2022.
•Net income (loss) per share: GAAP net loss per share was $0.21, compared to $0.69 in the fourth quarter of fiscal 2022. Non-GAAP net income per share was $0.64, compared to $0.25 in the fourth quarter of fiscal 2022.
•Cash flows: Cash provided by operations was $135.9 million, or 30% of revenue, compared to $103.1 million, or 32% of revenue, in the fourth quarter of fiscal 2022. Free cash flow was $101.3 million, or 22% of revenue, compared to $74.8 million, or 24% of revenue, in the fourth quarter of fiscal 2022.
•Deferred revenue: $1,439.7 million as of July 31, 2023, an increase of 41% year-over-year.
•Cash, cash equivalents and short-term investments: $2,100.2 million as of July 31, 2023, an increase of $368.9 million from July 31, 2022.

Full Year Fiscal 2023 Financial Highlights
•Revenue: $1,617.0 million, an increase of 48% year-over-year.
•Income (loss) from operations: GAAP loss from operations was $234.6 million, or 15% of revenue, compared to $327.4 million, or 30% of revenue, in fiscal 2022. Non-GAAP income from operations was $240.8 million, or 15% of revenue, compared to $111.6 million, or 10% of revenue, in fiscal 2022.
•Net income (loss): GAAP net loss was $202.3 million, compared to $390.3 million in fiscal 2022. Non-GAAP net income was $277.0 million, compared to $101.3 million in fiscal 2022.
1
The following information was filed by Zscaler, Inc. (ZS) on Tuesday, September 5, 2023 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 Zscaler, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
401(K) Plan
Business And Summary Of Significant Accounting Policies
Business And Summary Of Significant Accounting Policies (Details)
Business And Summary Of Significant Accounting Policies (Policies)
Business Combinations
Business Combinations (Tables)
Business Combinations - Narrative (Details)
Business Combinations - Net Assets Acquired (Details)
Cash Equivalents And Short-Term Investments
Cash Equivalents And Short-Term Investments (Tables)
Cash Equivalents And Short-Term Investments - Narrative (Details)
Cash Equivalents And Short-Term Investments - Schedule Of Cash Equivalents And Short-Term Investments (Details)
Cash Equivalents And Short-Term Investments - Schedule Of Maturities (Details)
Cash Equivalents And Short-Term Investments - Schedule Of Unrealized Position (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Maturities (Details)
Commitments And Contingencies - Narrative (Details)
Common Stock
Common Stock (Tables)
Common Stock - Narrative (Details)
Common Stock - Schedule Of Common Stock (Details)
Convertible Senior Notes
Convertible Senior Notes (Tables)
Convertible Senior Notes - Carrying Amounts (Details)
Convertible Senior Notes - Interest Expense (Details)
Convertible Senior Notes - Narrative (Details)
Convertible Senior Notes - Schedule Of Notes (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Cash Flow Hedges On Our Consolidated Statement Of Operations (Details)
Derivative Instruments - Narrative (Details)
Derivative Instruments - Schedule Of Derivative Instruments Designated As Fair Value Hedges (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill And Acquired Intangible Assets
Goodwill And Acquired Intangible Assets (Tables)
Goodwill And Acquired Intangible Assets - Narrative (Details)
Goodwill And Acquired Intangible Assets - Schedule Of Acquired Intangible Assets (Details)
Goodwill And Acquired Intangible Assets - Schedule Of Future Amortization Expense (Details)
Goodwill And Acquired Intangible Assets - Schedule Of Goodwill (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Components Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Components Of Provision Of Income Taxes (Details)
Income Taxes - Schedule Of Income Before Income Tax (Details)
Income Taxes - Schedule Of Reconciliation Of Effective Income Tax Rate (Details)
Income Taxes - Schedule Of Unrecognized Tax Benefits (Details)
Income Taxes - Schedule Of Valuation Allowance (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Antidilutive Securities Excluded From Computation (Details)
Net Loss Per Share - Net Loss Per Share (Details)
Net Loss Per Share- Narrative (Details)
Operating Leases
Operating Leases (Tables)
Operating Leases - Assets And Liabilities (Details)
Operating Leases - Future Maturities (Details)
Operating Leases - Lease Costs (Details)
Operating Leases - Narrative (Details)
Property And Equipment And Purchased Intangible Assets
Property And Equipment And Purchased Intangible Assets (Tables)
Property And Equipment And Purchased Intangible Assets - Narrative (Details)
Property And Equipment And Purchased Intangible Assets - Schedule Of Property And Equipment (Details)
Restructuring And Other Charges
Restructuring And Other Charges (Tables)
Restructuring And Other Charges - Narrative (Details)
Restructuring And Other Charges - Schedule Of Restructuring Activities (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Deferred Contract Acquisition Costs (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Remaining Performance Obligation (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Narrative (Details)
Segment And Geographic Information - Schedule Of Long-Lived Assets (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Schedule Of Rsu And Psa Activity (Details)
Stock-Based Compensation - Schedule Of Stock Options (Details)
Stock-Based Compensation - Stock-Based Compensation Expense (Details)
Stock-Based Compensation - Valuation Assumptions (Details)
Ticker: ZS
CIK: 1713683
Form Type: 10-K Annual Report
Accession Number: 0001713683-23-000113
Submitted to the SEC: Thu Sep 14 2023 4:20:27 PM EST
Accepted by the SEC: Thu Sep 14 2023
Period: Monday, July 31, 2023
Industry: Computer Programming Services

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