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Zscaler (ZS) investor relations material
Zscaler Citi’s 2026 Global TMT Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.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.
- Agentic SOC launch and AI-driven security strategies position the business for significant growth.ZS
Goldman Sachs Communacopia + Technology Conference 2026 - 25% revenue and ARR growth, record margins, and strong AI security drive robust FY27 outlook.ZS
Q4 2026 - Rapid ARR growth, AI security innovation, and Zero Trust expansion fuel strong enterprise momentum.ZS
Morgan Stanley Technology, Media & Telecom Conference 2026 - AI security innovation and Zero Trust expansion drive growth and strong financial performance.ZS
Zenith 2026 Investor session - Revenue up 26% and ARR up 25% year-over-year; guidance raised on strong AI security demand.ZS
Q2 2026 - 26% revenue and ARR growth, 52% free cash flow margin, and strong AI Security momentum.ZS
Q1 2026 - Q3 revenue up 23% to $678M, ARR at $2.9B, and $675M Red Canary acquisition announced.ZS
Q3 2025 - Q2 revenue up 23%, record margins, raised FY25 outlook, and U.K. tax benefit boosts results.ZS
Q2 2025 - Zero Trust and AI innovation drive growth, cost savings, and strong customer adoption.ZS
Status Update
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