As Zscaler Scales, Revenues Jump 48 Percent

Zscaler (NASDAQ:ZS), cloud security company announced a 48 percent uptick in revenues compared to the same time last year. Calculated billings footed US$88.3 million, rising 37 percent year-over-year. Over the quarter, Zscaler was named an official cloud security provider as part of the Microsoft (NASDAQ:MSFT) Networking Partner Program.

As quoted in the press release:

First Quarter Fiscal 2020 Financial Highlights

• Revenue: $93.6 million, an increase of 48% year-over-year.

• Income (loss) from operations: GAAP loss from operations was $18.3 million, or 20% of total revenue, compared to $8.7 million, or 14% of total revenue, in the first quarter of fiscal 2019. Non-GAAP income from operations was $2.9 million, or 3% of total revenue, compared to  $1.2 million, or 2% of total revenue, in the first quarter of fiscal 2019.

• Net income (loss): GAAP net loss was $17.1 million, compared to $7.6 million in the first quarter of fiscal 2019. Non-GAAP net income was $4.1 million, compared to $2.3 million in the first quarter of fiscal 2019.

• Net income (loss) per share: GAAP net loss per share was $0.13, compared to $0.06 in the first quarter of fiscal 2019. Non-GAAP net income per share was $0.03, compared to $0.02 in the first quarter of fiscal 2019.

• Cash flow: Cash provided by operations was $21.4 million, or 23% of revenue, compared to $11.0 million, or 17% of revenue, in the first quarter of fiscal 2019. Free cash flow was $9.4 million, or 10% of revenue, compared to $5.2 million, or 8% of revenue, in the first quarter of fiscal 2019.

• Deferred revenue: $245.9 million as of October 31, 2019, an increase of 49% year-over-year.

• Cash, cash equivalents and short-term investments: $377.6 million as of October 31, 2019, an increase of $13.0 million from July 31, 2019.

Click here to read the full press release.