Zoom Video Communications (ZM) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 25, 2026

After Close (Confirmed)

Period Ending

2027 (Q1)

Consensus EPS Forecast

1.42

Last Year’s EPS

1.43

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 20 Analysts Ratings

Earnings Call Summary

Q4 2026

Earnings Call Date:Feb 25, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed meaningful progress: revenue acceleration versus the prior year, strong enterprise and AI monetization momentum (notably in Contact Center, ZVA Voice, Phone and AI Companion adoption), improved non-GAAP margins for the full year, a healthy cash balance and continued buybacks. Offsetting these positives were declines in quarterly operating and free cash flow, a net dollar expansion rate below 100% (98%), modest churn uptick, near-term billing/recognition dynamics tied to transition credits for competitive takeouts, and some tax and interest headwinds. Overall, execution on AI products and large competitive displacements were emphasized as drivers for durable growth, though several near-term financial and recognition headwinds temper the outlook.

Company Guidance

Zoom's guidance for Q1 FY‑27 calls for revenue of $1.22–$1.225 billion (midpoint ~4.1% YoY growth), non‑GAAP operating income of $487–$492 million (operating margin ~40% at the midpoint), and non‑GAAP EPS of $1.40–$1.42 based on ~304 million shares; deferred revenue is expected to be up 1–2% YoY. For full FY‑27 the company expects revenue of $5.065–$5.075 billion (midpoint +4.1% YoY), non‑GAAP operating income of $2.05–$2.06 billion (operating margin ~40.5% at the midpoint, reflecting a +180 bps amortization accounting tailwind partly offset by ~‑70 bps from the shift from stock‑based to cash bonuses), non‑GAAP EPS of $5.77–$5.81 on ~308 million shares (future repurchases not included), and free cash flow of $1.7–$1.74 billion (including ~ $75 million incremental CapEx); management also flagged an expected ~$50 million interest‑income headwind and noted RPO is up >10% YoY to ~ $4.2 billion with ~57% expected to be recognized over the next 12 months.

Q4 Revenue Above Guidance and Year-over-Year Growth

Q4 FY26 revenue grew 5.3% year-over-year to $1.25 billion (4.8% in constant currency) and was $12 million above the high end of guidance.

Full Year Revenue Acceleration

FY26 revenue grew 4.4% year-over-year, representing a 130 basis point acceleration vs. FY25 and management expects FY27 revenue to top $5.06 billion (midpoint ~4.1% YoY growth).

Enterprise Strength and Upmarket Momentum

Enterprise revenue grew 7.1% in Q4 and represented 61% of total revenue (up 1 point YoY). Customers with >$100k TTM revenue increased 9% YoY and now account for 33% of revenue (up 2 points YoY).

AI Product Adoption and Monetization Traction

AI Companion 3.0 launched; AI Companion MAUs more than tripled YoY, side-panel MAUs more than doubled QoQ, and Zoom Phone MAUs using AI features rose 35% sequentially. ZCX ARR grew in high double-digits and AI monetization contributed to competitive wins (every top-10 Q4 CX deal included paid AI).

Contact Center and Voice Momentum

Zoom Contact Center and ZVA Voice featured in multiple large competitive displacements: ZVA Voice included in 4 of top-10 CX deals, and Zoom signed a nearly seven-figure ARR ZVA Voice deal for a retailer across 1,100+ locations. Contact Center growth described as high double-digits, accelerating in Q4.

Phone Business Expansion and Large Displacements

Phone ARR continues to grow in the mid-teens. Significant wins include a Fortune 10 replacement (140,000 seats) and an expansion adding ~50,000 seats to bring a global bank to ~150,000 total seats; multiple large financial and enterprise displacements of legacy vendors were highlighted.

Improved Margins and Profitability

Q4 non-GAAP gross margin was 79.8% (up ~1 point YoY). Full FY26 non-GAAP gross margin reached 79.7% (up 80 bps YoY) and FY26 non-GAAP operating margin was 40.4% (up 100 bps YoY).

Non-GAAP Earnings and Operating Results

Q4 non-GAAP income from operations grew 4.6% YoY to $490 million (exceeding guidance by $8M). Q4 non-GAAP diluted EPS rose $0.03 YoY to $1.44 (includes an approximate $0.11 headwind from higher-than-expected taxes).

Strong RPO, Deferred Revenue and Cash Position

RPO increased over 10% YoY to approximately $4.2 billion; deferred revenue grew 5% YoY to $1.42 billion (above prior guidance range). Company ended Q4 with ~$7.8 billion in cash, equivalents and marketable securities.

Free Cash Flow Growth and Share Repurchases

FY26 free cash flow grew 6.4% to $1.9 billion. Under the $3.7 billion buyback plan, Zoom repurchased 3.8 million shares for ~$324 million in Q4 and 36.3 million shares for ~$2.7 billion year-to-date, and intends to use buybacks to at least offset dilution going forward.

Product and Go-to-Market Expansion

Closed BrightHire acquisition (adding recruiting AI), Revenue Accelerator customers grew 50% YoY, and investments in channel and international initiatives (e.g., U.K. data center) to support Phone and Contact Center expansion were highlighted.

Zoom Video Communications (ZM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ZM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 25, 2026	2027 (Q1)	1.42 / -	1.43	―	―	―
Feb 25, 2026	2026 (Q4)	1.49 / 1.44	1.41	2.13% (+0.03)
Nov 24, 2025	2026 (Q3)	1.44 / 1.52	1.38	10.14% (+0.14)
Aug 21, 2025	2026 (Q2)	1.38 / 1.53	1.39	10.07% (+0.14)
May 21, 2025	2026 (Q1)	1.31 / 1.43	1.35	5.93% (+0.08)
Feb 24, 2025	2025 (Q4)	1.30 / 1.41	1.42	-0.70% (-0.01)
Nov 25, 2024	2025 (Q3)	1.31 / 1.38	1.29	6.98% (+0.09)
Aug 21, 2024	2025 (Q2)	1.22 / 1.39	1.34	3.73% (+0.05)
May 20, 2024	2025 (Q1)	1.19 / 1.35	1.16	16.38% (+0.19)
Feb 26, 2024	2024 (Q4)	1.15 / 1.42	1.22	16.39% (+0.20)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ZM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 25, 2026	$85.43	$75.54	-11.58%
Nov 24, 2025	$78.60	$86.34	+9.85%
Aug 21, 2025	$73.17	$82.47	+12.71%
May 21, 2025	$82.27	$82.07	-0.24%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.