Business Description
Globally recognized, Zscaler, Inc. functions as a leading provider of cloud-based security solutions. Its core offerings include Zscaler Internet Access (ZIA), which ensures secure connectivity for a diverse range of entities – including users, servers, operational technology (OT), and IoT devices – when accessing external resources like software-as-a-service (SaaS) applications and general internet destinations. Complementing this, the Zscaler Private Access (ZPA) solution facilitates secure entry to internal applications residing in private or public clouds and traditional data centers. Zscaler also delivers Zscaler Digital Experience (ZDX), a tool that assesses the complete user journey across various business applications. ZDX then generates a clear, digestible digital experience score for individual users, specific applications, and different locations within an organization. Furthermore, the company's portfolio extends to advanced workload segmentation solutions. This category includes Zscaler Cloud Security Posture Management (CSPM), designed to identify and correct application misconfigurations across SaaS, IaaS, and PaaS environments, thereby minimizing risk and upholding compliance standards. Another key offering is Zscaler Cloud Workload Segmentation, specifically engineered to fortify application-to-application communication within public clouds and data centers. Its objective is to thwart lateral threat propagation, safeguard applications from compromise, and ultimately mitigate the potential for data breaches. The underlying platform is built upon integral components such as the Zscaler Central Authority, Zscaler Enforcement Nodes, and Zscaler Log Servers. Serving a diverse global clientele, Zscaler caters to numerous sectors including aviation and transportation, conglomerates, consumer goods and retail, financial services, healthcare, manufacturing, media and communications, public sector and education, as well as technology and telecommunications. Founded in 2007, the company initially operated as SafeChannel, Inc., before rebranding to Zscaler, Inc. in August 2008. Its corporate headquarters are located in San Jose, California.
Business History
Price Overview
Last updated: Jun 27, 2026 9:01am (just now)Revenue & Net Income Trend
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
EPS (Diluted): -0.27
Total Equity: $1.80B
Shares: 154,404,000
Total Debt: $1.70B
Cash: $2.39B
EBITDA: $112.41M
Total Debt: $1.70B
Cash: $2.39B
Revenue: $2.67B
Shares: 154,404,000
Revenue: $2.67B
Revenue: $2.67B
Revenue: $2.67B
Total Equity: $1.80B
Tax Rate: -126.8%
Equity: $1.80B
Total Debt: $1.70B
Cash: $2.39B
Current Liabilities: $2.43B
Long-Term Debt: $1.70B
Total Debt: $1.70B
Total Equity: $1.80B
Shares: 154,404,000
Shares: 154,404,000
CapEx: -$245.76M
Shares: 154,404,000
Stock Price: $132.26
Net Income: -$41.48M
Industry Benchmarks
Deep Analysis
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Income Statement (Annual)
Last updated: Jun 27, 2026 3:08am (5h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $673.1M | $1.1B | $1.6B | $2.2B | $2.7B |
| Cost of Revenue | $150.6M | $243.3M | $362.5M | $479.7M | $618.2M |
| Gross Profit | $522.5M | $847.6M | $1.3B | $1.7B | $2.1B |
| Operating Expenses | $729.9M | $1.2B | $1.5B | $1.8B | $2.2B |
| Operating Income | -$207.4M | -$327.4M | -$215.4M | -$123.9M | -$128.5M |
| Net Income | -$262.0M | -$390.3M | -$202.3M | -$57.7M | -$41.5M |
| EBITDA | -$105.8M | -$183.4M | -$76.7M | $64.8M | $112.4M |
| EPS | $-1.93 | $-2.77 | $-1.40 | $-0.39 | $-0.27 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 27, 2026 3:08am (5h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $275.9M | $1.0B | $1.3B | $1.4B | $2.4B |
| Total Current Assets | $1.8B | $2.3B | $2.9B | $3.4B | $4.9B |
| Total Assets | $2.3B | $2.8B | $3.6B | $4.7B | $6.4B |
| Current Liabilities | $720.2M | $1.1B | $1.5B | $3.1B | $2.4B |
| Long-Term Debt | $913.5M | $968.7M | $1.1B | $0 | $1.7B |
| Total Liabilities | $1.7B | $2.3B | $2.9B | $3.4B | $4.6B |
| Total Equity | $528.9M | $573.3M | $725.1M | $1.3B | $1.8B |
| Retained Earnings | -$601.6M | -$991.9M | -$1.1B | -$1.1B | -$1.2B |
Cash Flow (Annual)
Last updated: Jun 27, 2026 3:08am (5h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $202.0M | $321.9M | $462.3M | $779.8M | $972.5M |
| Capital Expenditure | -$58.3M | -$90.6M | -$128.7M | -$194.9M | -$245.8M |
| Free Cash Flow | $143.7M | $231.3M | $333.6M | $585.0M | $726.7M |
| Acquisitions (net) | -$40.5M | -$25.3M | -$15.6M | -$374.7M | $-834,000 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $134.0M | $737.3M | $249.0M | $160.9M | $965.9M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 4:40pm (16h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$3.9B $3.9B – $4.1B
|
$4.5B $4.5B – $4.5B
|
$5.3B $5.2B – $5.4B
|
$6.2B $6.2B – $6.3B
|
| EBITDA |
$1.1B $1.1B – $1.1B
|
$1.3B $1.3B – $1.3B
|
$1.5B $1.5B – $1.5B
|
$1.7B $1.7B – $1.8B
|
| Net Income |
$711.7M $614.0M – $809.3M
|
$40.3M -$3.3B – $4.9B
|
$912.5M $906.8M – $937.9M
|
$1.1B $1.0B – $1.1B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 27, 2026 3:08am (5h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +62.1% | +48.2% | +34.1% | +23.3% |
| Gross Profit Growth | +62.2% | +48.0% | +34.6% | +21.7% |
| Operating Income Growth | -57.9% | +34.2% | +42.5% | -3.7% |
| Net Income Growth | -48.9% | +48.2% | +71.5% | +28.1% |
| EBITDA Growth | -73.4% | +58.2% | +184.5% | +73.5% |
Narrative Economics
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