Here are the 10-K annual reports from Zscaler, Inc. (ZS) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow ZS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ZS filings page.
Zscaler, Inc. (ZS) reports rapid growth as a cloud-native zero trust cybersecurity platform focused on securing enterprises in the AI era. Revenue rose from $2,167.8 million in fiscal 2024 to $3,352.5 million in 2026, with year-over-year growth of 23% and 25%, respectively, driven by its Zero Trust Exchange, Security for AI and data security offerings.
The company remains unprofitable, with net losses of $57.7 million in 2024, $41.5 million in 2025 and $63.2 million in 2026, and highlights extensive risk factors around AI, data protection, open source use, supply chain, regulation and international exposure. Zscaler serves about 11,000 customers, including over 40% of the Forbes Global 2000, and processes more than 750 billion transactions per day through over 200 global data centers.
Zscaler, Inc. reported fiscal 2025 revenue of $2,673.1 million, up from $2,167.8 million in fiscal 2024, while recording a net loss of $41.5 million for fiscal 2025, narrowing from prior-year losses. The company serves over 9,400 customers with users in 185+ countries, and about 49% of revenue from outside the U.S. Zscaler operates a cloud-native Zero Trust platform (ZIA, ZPA, Zero Trust Cloud and branch/workload solutions), holds >725 patents, and maintains multiple security and government certifications including FedRAMP and ISO standards. As of July 31, 2025 the company had 7,923 employees, an accumulated deficit of $1,189.6 million, and reported it believes existing cash and investments are sufficient to fund operations for at least 12 months. In July 2025 Zscaler issued $1,725 million of 0.0% Convertible Senior Notes due 2028. The filing emphasizes growth initiatives (land-and-expand, channel partners, R&D) and lists key risks including ongoing net losses, competitive pressures, reliance on customer renewals and international/India operational risks.