Zscaler's Q3 Boosts Revenue and Expands Customer Base

Published 1 days agoZS

Zscaler's Q3 Boosts Revenue and Expands Customer Base

Zscaler, Inc. has recently shared its impressive financial results for the third quarter of fiscal year 2024, showcasing the company's strong performance and growth trajectory. The cybersecurity firm achieved $553 million in revenue, which reflects a 32% increase from the previous year and a 5% sequential growth. Additionally, calculated billings soared to $628 million, indicating a 30% increase year-over-year, while the operating margin hit a record 22%, improving by approximately 680 basis points compared to the same period last year.

Customer expansion is a key highlight for Zscaler. The number of customers generating over $1 million in annual recurring revenue reached 523, marking a 31% increase over the past year. Moreover, the company reported growth in customers exceeding $100,000 in annual recurring revenue, reaching a total of 2,922. These figures reflect Zscaler's strengthening market position and suggest a growing adoption of their services, as highlighted by a report from GuruFocus.

To bolster its offerings, Zscaler acquired Avalor Technologies in March 2024 for enhanced AI capabilities, and in April 2024, it added Airgap Networks to its portfolio to boost its Zero Trust Security Service Edge solutions. The company continues to innovate with the introduction of tools like ZDX Copilot, while also earning recognition as a Leader in industry reports such as the Forrester Wave and the Gartner Magic Quadrant for their Security Service Edge solutions. Looking ahead, Zscaler eyes the $3 billion annual recurring revenue milestone in fiscal year 2025, driven by continued investments in cloud and AI infrastructure.

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