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Zscaler Citi’s 2026 Global TMT Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Citi’s 2026 Global TMT Conference summary9 Sep, 2026

Year in review and key milestones

  • Platform expanded significantly, with Zero Trust Everywhere as a major differentiator and comprehensive data security portfolio.

  • Security for AI grew rapidly, expanding from one to six integrated products in a year, exceeding expectations.

  • Sales transformation to an enterprise account focus led to improved net new ARR growth, reaching 17% in Q4 of fiscal 2026.

  • Customer success reflected in high NPS scores (80-85) and strong upsell momentum.

  • Launch of Agentic SecOps added a new pillar to the platform, targeting emerging security needs.

AI security and evolving customer needs

  • Post-Mythos, urgency around AI security increased, with boards and CIOs now deeply involved.

  • Customers seek solutions to hide exposed applications and manage risks from AI agents, with zero trust architecture providing a unique advantage.

  • Enterprises are cautious but recognize the need for comprehensive, integrated security rather than point products.

  • Deal sizes for AI security are currently smaller, but urgency is driving adoption and accelerating zero trust deals.

  • AI security bookings exceeded $100 million in the last 12 months, with Q4 bookings up 50% sequentially.

Business model evolution and growth drivers

  • Four strategic pillars: Zero Trust Everywhere, AI Security, Data Security, and Agentic SecOps.

  • Zero Trust Branch deals increased from 300 to 950 customers year-over-year, disrupting traditional SD-WAN.

  • Multiple landing solutions and new logo deals are expanding the platform and driving record pipeline and productivity.

  • Z Flex procurement model introduced to reduce friction, increase upsell (30% higher), and enable longer, larger deals.

  • 785 customers now have $1 million+ ARR, with record numbers of large deals and strong momentum into fiscal 2027.

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