Zscaler Stock Price, News & Analysis

Zscaler (Nasdaq: ZS) reported its fiscal Q3 2024 financials, showing a solid performance with a 32% YoY revenue increase to $553.2 million and a 30% YoY rise in calculated billings to $628 million. Deferred revenue grew 34% to $1,577 million. GAAP net income was $19.1 million, a notable turnaround from a $46 million loss last year, while non-GAAP net income rose to $139.8 million from $74.6 million. The company posted GAAP net income per share of $0.12 and non-GAAP net income per share of $0.88. Cash flow from operations increased to $173.4 million, and free cash flow reached $123.1 million. Zscaler also acquired Avalor Technologies and Airgap Networks to bolster its AI capabilities and Zero Trust SASE leadership. Looking ahead, Q4 revenue is expected to be $565-$567 million, with a full-year revenue forecast of $2.140-$2.142 billion.

On May 30, 2024, Zscaler announced that Persistent Systems has selected its Zero Trust Exchange™ platform to advance digital transformation and sustainability goals.

Persistent, a leader in digital engineering, sought Zscaler to enhance cybersecurity while reducing costs, complexities, and environmental impact. The initiative focuses on leveraging Zscaler's AI-driven cloud security to support 22,800 users across 21 countries.

The partnership has already yielded significant results, including a 35% increase in traffic yet shielding Persistent from 1.6 million security threats. Persistent benefits from reduced business risk and increased user productivity.

Zscaler, a leader in cloud security, has appointed James Beer to its Board of Directors and its audit committee. The board now comprises eight members. Beer brings significant experience in finance and strategy from his tenure at large global enterprises, including his recent role as CFO at Atlassian. This appointment aims to bolster Zscaler's long-term growth and leadership in zero trust cloud transformation.

Zscaler (NASDAQ: ZS), a leader in cloud security, announced its participation in the Bank of America Global Technology Conference on June 5, 2024, in San Francisco. The presentation, scheduled for 9:20 a.m. PT (12:20 p.m. ET), will be available via webcast on Zscaler's Investor Relations website. Investors and stakeholders can tune into the webcast for insights into Zscaler's strategic initiatives and financial performance.

On May 14, 2024, Zscaler (NASDAQ: ZS) announced enhancements to its AI Data Protection Platform, aiming to provide the industry's most comprehensive data protection solution. The platform now includes Data Security Posture Management (DSPM) for sensitive data protection across public clouds, context-rich GenAI App Security, and real-time Email DLP for corporate emails. These updates aim to address increasing security risks due to shadow AI and ransomware as enterprise AI/ML transactions have surged by 600% from April 2023 to January 2024. Zscaler's platform leverages over 500 trillion data points analyzed daily to improve visibility and security across multiple environments, including SaaS, IaaS/PaaS, endpoints, and on-premise networks.

Zscaler, Inc. (NASDAQ: ZS) will release its third quarter fiscal year 2024 earnings on Thursday, May 30, 2024, after the market closes. The company, a leader in cloud security, will host an investor conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results. Investors can join the call via webcast or dial-in. Details are available on the Zscaler website.

Zscaler, Inc. (NASDAQ: ZS) partners with Google to provide top-notch zero trust data and threat protection. The collaboration combines Zscaler Private Access™ with Chrome Enterprise to offer secure access to private apps across devices and locations. The joint solution enhances cybersecurity, protects against malware, phishing, and advanced attacks, and ensures a secure browsing experience for enterprise users. The partnership aims to eliminate the need for legacy solutions like VPNs and Firewalls, providing a comprehensive security solution for the modern workplace.

Zscaler, Inc. released the 2024 ThreatLabz VPN Risk Report revealing that over half of organizations experienced cyberattacks exploiting VPN vulnerabilities in the last year. Concerns about VPNs leading to breaches are high, with top threats being ransomware, malware, and DDoS attacks. The report emphasizes the need for a shift to Zero Trust architecture, with 78% of organizations planning to implement it within the next year.

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