Zscaler (ZS)
NASDAQ:ZS
Want to see ZS full AI Analyst Report?
Earnings Data
Report Date
Sep 08, 2026After Close (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
1.09Last Year’s EPS
0.89Same Quarter Last Year
Strong Buy
Based on 36 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operating performance and clear product and commercial momentum — ARR and revenue both grew 25% YoY, operating margin hit a record 23%, cloud marketplace and AI/security offerings showed accelerating traction, and cash and RPO remain robust. Management, however, took a cautious tone on near-term growth due to recent sales leadership turnover, supply-chain driven CapEx pressure (pull-forward purchases) that compresses quarterly free cash flow, and an early FY27 outlook implying a deceleration to mid-teens growth. Overall the tone is confident about long-term AI-driven opportunity and platform differentiation, while prudent on short-term guide and investments.Company Guidance
Strong ARR Growth
Total ARR reached $3.5B, up 25% year-over-year; Q3 net new ARR was $166M, up 24% YoY (or $153M net new ARR excluding Red Canary, up 14% YoY).
Revenue Outperformance
Q3 revenue was $850M, up 25% YoY and up 4% sequentially, exceeding the high end of guidance.
Record Operating Profitability
Non-GAAP operating margin reached an all-time high of 23%; non-GAAP operating income was $196M, up 34% YoY; non-GAAP gross margin was 80.7% (vs 80.3% a year ago).
Cash and Cash Flow Strength
Ended the quarter with $3.5B in cash, cash equivalents and short-term investments and $1.7B of debt; generated $198M operating cash flow in Q3; free cash flow margin of 29% year-to-date (Q3 quarter FCF margin 16%).
Platform & Product Momentum (AI & Data Security)
AI Protect bookings crossed $100M over the past 12 months; data security ARR crossed $500M, up over 30% YoY; strong traction for AI-related partnerships (Anthropic, OpenAI) and acquisition of Symmetry Systems to map access graphs for agent security.
Strong Enterprise Deal Activity
Closed a record number of $1M+ New ACV deals in Q3; 748 customers generated >$1M ARR and ~4,000 customers exceeded $100k ARR (growing ~18–19% YoY); signed the largest branch deal in company history (8-figure) across 2,000 sites.
Go-to-Market & Marketplace Growth
Z-Flex produced just over $480M in TCV in Q3, up >60% quarter-over-quarter and over $1B TCV over last 12 months; cloud marketplace TCV transacted ~ $900M YTD, more than doubled YoY.
RPO Expansion and Scale
Remaining performance obligation (RPO) was approximately $6.5B, up roughly 30% YoY, with ~46% classified as current RPO; platform processes >500 billion transactions/day across 160 public exchanges.
Product Adoption — Zero Trust Everywhere
Zero Trust Branch ARR approximately tripled YoY; >700 'Zero Trust Everywhere' enterprises at quarter end (vs >550 in Q2), demonstrating cross-product adoption across users, cloud workloads and branches.
Red Canary and Strategic M&A
Red Canary added $127M ARR on close and is being integrated into an expanded SecOps offering; Symmetry Systems acquisition announced to provide access graph technology for agent and data mapping.
ZS Earnings History
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
ZS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 26, 2026 | $184.60 | $126.41 | -31.52% |
Feb 26, 2026 | $167.36 | $146.99 | -12.17% |
Nov 25, 2025 | $289.73 | $251.97 | -13.03% |
Sep 02, 2025 | $274.57 | $270.58 | -1.45% |
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.
FAQ
When does Zscaler (ZS) report earnings?
Zscaler (ZS) is schdueled to report earning on Sep 08, 2026, After Close (Confirmed).
What is Zscaler (ZS) earnings time?
Zscaler (ZS) earnings time is at Sep 08, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ZS EPS forecast?
ZS EPS forecast for the fiscal quarter 2026 (Q4) is 1.09.
