Zoom (ZM) Zoomtopia 2026 Investor Session summary

Strategic direction and FY2030 outlook

• System-of-action strategy turns conversations and shared context into completed workflows and customer outcomes across the product portfolio.

• Unified Context Layer uses a shared AI platform, conversation data, integrations, open APIs and flexible deployment.

• Priorities: elevate core products with AI, expand CX, sales and HR solutions, develop offerings such as ZoomMate, move upmarket and diversify products.

• FY2030 targets: 6%–8% organic revenue growth, double-digit enterprise growth, ~80% non-GAAP gross margin, ~40% non-GAAP operating margin and 28%–30% GAAP operating margin.

• Outlook assumes stable macro conditions and flattish online revenue, with growth mainly from established and scaling products and a prudent view of emerging offerings.

Growth and enterprise traction

• Enterprise revenue grew 7.5% last quarter, its strongest rate in three years; enterprise mix rose from 58% to over 62% in four years.

• Enterprise average contract length rose from 20 months in Q2 FY24 to 30 months in Q2 FY27; customers above $100K TTM revenue reached 4,625 (+8.2% YoY), and those above $1M reached 244.

• Enterprise customers using 3+ products reached 32,628 in Q2 FY27 (+12.6% YoY); average quarterly ARR dollar churn was 43% lower than for customers using 1–2 products.

• Phone, Webinars & Events and Rooms penetration among enterprise accounts was 29%, 27% and 17%, respectively; 70% of top 100 Contact Center deals included Phone, and one-third of Phone deals were net-new.

• Online revenue growth is expected to be flat in FY27 versus -4% in FY24; average monthly churn was 2.9% versus 3.2%, with over 75% of customers having tenure above 16 months.

Product and customer developments

• ZoomMate standard AI tokens offer an estimated ~120% price uplift; named customer wins include Oracle, Salesforce and Raymond James. Initiatives include a Live Meeting AI Agent, Voice Translator, agentic search and enriched notes.

• AI-enabled SKUs represent over 60% of Contact Center business and are growing at a mid-100s rate; realized uplift was 122% for ZCC-to-Elite expansion and 41% for ZCC plus Virtual Agent.

• Virtual Agent engagement grew over 6x in six months, with voice scaling fastest; a retailer deployed one agent across 1,100+ locations, deflecting 20% of calls in under eight months.

• My Notes had 1.5M monthly active users, with users recording over 50% lower churn; Workvivo surpassed $100M ARR.

• BrightHire customers grew 76% YoY, with 3M+ interviews handled in TTM; ZRA paid customers grew 41% YoY. Sales and HR offerings combine conversation context with products including Common Room, Engage, Forecast and Workvivo.