Q1 revenue grew 26% year-over-year to $788.1 million, with ARR also up 26% to $3.2 billion, exceeding guidance and driven by growth in AI Security, Zero Trust Everywhere, and Data Security Everywhere.
AI Security ARR surpassed $400 million, three quarters ahead of FY26 targets, and is expected to exceed $500 million by year-end.
Major acquisitions of Red Canary and SPLXAI for $692 million enhanced AI security and Zero Trust platform capabilities.
Z-Flex program generated over $175 million in TCV, up 70% quarter-over-quarter, driving significant upsells and reduced sales cycles.
Zero Trust Everywhere surpassed its FY26 goal with over 450 enterprise customers, three quarters ahead of target.
Q1 revenue reached $788.1 million, up 26% year-over-year, with ARR at $3.2 billion and RPO at $5.9 billion, up 35% year-over-year.
Gross margin was 80% (non-GAAP), with operating margin at 22% and free cash flow margin at 52%.
Non-GAAP net income rose to $159.5 million, with EPS at $0.96, up from $0.77 year-over-year.
Ended the quarter with $3.32 billion in cash, cash equivalents, and short-term investments.
Deferred revenue grew 32% year-over-year to $2.35 billion.
Q2 revenue expected between $797 million and $799 million, up 23% year-over-year, with non-GAAP EPS of $0.89–$0.90.
FY26 guidance: ARR of $3.698–$3.718 billion (22.7%–23.3% growth), revenue of $3.282–$3.301 billion (22.8%–23.5% growth), and non-GAAP EPS of $3.78–$3.82.
Free cash flow margin for the year expected at 26.0%–26.5%.
Adopted a lower non-GAAP tax rate of 21% effective August 2025.
Dollar-based net retention rate was 115% for the trailing 12 months; will no longer be reported after Q2 FY26.
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Zscaler is an American cloud-based security company with global operations that provides integrated web security, data protection, and internet security solutions for businesses. At its core, Zscaler operates a multi-tenant, distributed cloud-native platform designed to securely connect users to their applications and services, regardless of device, location, or network. The company is headquartered in San Jose, California and its shares are traded on the Nasdaq.
Zscaler, founded in 2008 by Jay Chaudhry and K. Kailash, offered something new to the cybersecurity landscape by introducing a cloud-native platform designed to securely connect users to their applications. Chaudhry, with a history of establishing and selling multiple tech startups, identified a shift in the way people work and saw the limitations of traditional security models in a cloud-centric business environment. Since its inception, the company has grown significantly, establishing itself as a leader in cloud security. Zscaler has become a well-established part of the cybersecurity sector, and today they compete with companies such as Palo Alto Networks and Crowdstrike.
The services that Zscaler offers are multifaceted, but all revolve around the same thing: ensuring that their client's data is safe and secure. Some examples of the company’s services are listed below.
Secure Web Gateway (SWG): Offers real-time inspection of web traffic to enforce security and policy compliance.
Zero Trust Network Access (ZTNA): Enables secure access to internal applications without placing users on the network, thus minimizing the potential attack surface.
Firewall as a Service (FWaaS): Delivers fully scalable cloud-based firewall capabilities.
Data Loss Prevention (DLP): Monitors and controls data sharing and transfer to prevent sensitive data leakage.
Advanced Threat Protection: Uses multiple methods like sandboxing, SSL inspection, and more to protect against advanced threats.
Zscaler caters to a broad range of clients, spanning from large enterprises to mid-sized businesses and government agencies. Given Zscaler's scalable solutions, both global corporations with distributed workforces as well emerging businesses looking to securely utilize cloud and mobile technologies can find the company’s services of use.
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