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Technology · NASDAQ: ZM

Zoom: how the business works

Zoom sells subscriptions to video meetings, cloud phone, team chat and contact-center software, with revenue of $4.87 billion in FY2026 (year ended Jan 31, 2026).

By · Checked against filings: . Editorial policy. Corrections

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Zoom Communications, Inc. · San Jose, California · Founded 2011

Updated for Q2 FY2027 · checked

Revenue, FY2026
$4.87B
Operating income, FY2026
$1.12B
Net income, FY2026 (incl. $969.8M investment gains)
$1.90B
Customers paying over $100K a year, Jul 31, 2026
4,625
Employees, Jan 31, 2026
7,438

For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

The short version

Zoom in 5 points

  1. 1 · What it sells

    Zoom sells subscriptions to video meetings, cloud phone, team chat and contact-center software, with revenue of $4.87 billion in FY2026, the year ended Jan 31, 2026.

    More: what it sells

  2. 2 · Who pays it

    Enterprise customers, served by Zoom's sales team and partners, paid 60.3% of FY2026 revenue and Online customers, who subscribe on its website, paid 39.7%, with no single customer reaching one-tenth of revenue.

    More: who pays it

  3. 3 · What it keeps from $100

    Of every $100 that came in during FY2026, including investment gains and interest, Zoom kept $30.8 as net income, while its operating income, before those gains, was $23.1 per $100 of revenue.

    More: what it keeps from $100

  4. 4 · Where the operating profit comes from

    Zoom reports one segment and no profit by product, but it kept $77.0 of gross profit per $100 of FY2026 revenue, and sales and marketing took $28.5 per $100.

    More: where the operating profit comes from

  5. 5 · The one thing to watch

    In Q2 FY2027 Zoom's net income of $1,542.4 million was above its revenue of $1,277.2 million because of a $1,612.7 million unrealized gain on its Anthropic stake, while operating income was $314.3 million.

    More: the one thing to watch

Sources: From Zoom's FY2026 10-K, Q2 FY2027 10-Q and Q2 FY2027 earnings release · checked

See the full receipt and the management scorecard below

Sources (3)
Next: Where $100 goes

01Where the money goes · FY2026

Where does $100 of Zoom's money go?

Of every $100 that came in (revenue plus other income), this is where it went.

Zoom · FY2026

Receipt for every $100

Where $100 of Zoom's money went in FY2026
Sales and marketing$22.5
Running the service$18.1
Research and development$13.7
General and administrative$6.4
Income tax$8.5
Kept as net income (incl. investment gains)$30.8
Total$100

Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.

How this is worked out

Cityfort calculation from the FY2026 10-K. Of every $100 that came in during FY2026: revenue of $4,868.8 million plus $969.8 million of gains on strategic investments and $328.8 million of other income, mostly interest, $6,167.4 million in all. Each line = line ÷ $6,167.4 million × 100. The profit line includes the investment gains; on revenue alone, operating income was $23.1 per $100. Stock-based pay ($760.8 million) sits inside the cost lines.

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Sources (2)
Next: The business in one line

Each week: one company explained in 5 points, picked by earnings date.

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02The business in one line

What does Zoom do?

Businesses and individuals pay Zoom subscriptions for meetings, phone and chat software; sales and marketing and running the service take most of the money, and $23.1 of every $100 of FY2026 revenue was left as operating income.

  • Enterprise customers, served by Zoom's sales team and partners, paid 60.3% of FY2026 revenue. Online customers, who subscribe on Zoom's website, paid 39.7%.
  • FY2026 net income of $1,900.1 million was larger than operating income of $1,123.6 million because it included $969.8 million of gains on Zoom's stakes in other companies.
Next: Who pays it

03Who pays it

Who pays Zoom?

  • Enterprise customers

    60%

    of revenue

    Business units reached by Zoom's direct sales team, resellers or strategic partners: $2,934.1 million, 60.3% of FY2026 revenue, up 6.5%.

  • Online customers

    40%

    of revenue

    Customers who subscribe through Zoom's website: $1,934.7 million, 39.7% of FY2026 revenue, up 1.2%.

  • Enterprise customers60%
  • Online customers40%

How spread out the customers are

Zoom's FY2026 10-K says no customer was more than 10% of revenue. Customers paying more than $100,000 over the trailing 12 months made up 32.8% of FY2026 revenue; there were 4,625 of them at Jul 31, 2026. Enterprise and Online are Zoom's customer categories, not reporting segments, and the company notes some overlap between them.

Sources (4)
Next: Why it makes money

04Why it makes money

Why does Zoom make money?

Most of each subscription dollar is gross profit; spending on sales and stock-based pay decides what is left.

Zoom kept $77.0 of gross profit per $100 of revenue in FY2026. Operating income fell to $5.6 per $100 in FY2023, when stock-based payPay given as shares instead of cash, which spreads ownership more thinly. Learn more was $1,285.8 million. It rose to $23.1 in FY2026 as sales and marketing fell from $1,696.6 million to $1,388.3 million and stock-based pay to $760.8 million.

Gross profit per $100 of revenue

$74.3$77.0

FY2022 to FY2026

  1. People try Zoom or buy a plan on its website
  2. Sales teams and partners sign larger organizations
  3. Customers add phone, chat and contact-center products
  4. Subscriptions renew monthly, yearly or over several years
  5. Billing in advance brings in cash before revenue is recognized
  6. Cash pays for engineers, acquisitions and share repurchases

↺ Step 6 feeds back into step 1.

Sources (2)
Next: How has it done

05The numbers · Consolidated · US$

How has Zoom done?

Revenue

$4.9BFY2026

Revenue grew every year, from $4,099.9 million in FY2022 to $4,868.8 million in FY2026, by between 3.1% and 7.1% a year, and was $1,277.2 million in Q2 FY2027, up 4.9% from a year earlier.

US$

See the numbers
Revenue (US$)
PeriodRevenue (US$)
FY2022$4.1B
FY2023$4.4B
FY2024$4.5B
FY2025$4.7B
FY2026$4.9B
Q1 FY2025$1.1B
Q2 FY2025$1.2B
Q3 FY2025$1.2B
Q4 FY2025$1.2B
Q1 FY2026$1.2B
Q2 FY2026$1.2B
Q3 FY2026$1.2B
Q4 FY2026$1.2B
Q1 FY2027$1.2B
Q2 FY2027$1.3B

Net profit

$1.9BFY2026

Net income moves with taxes and investment gains: it includes a $274.0 million tax benefit in FY2022, $969.8 million of strategic-investment gains in FY2026 and a $1,612.7 million unrealized gain on the Anthropic stake in Q2 FY2027, when net income exceeded revenue.

US$

See the numbers
Net profit (US$)
PeriodNet profit (US$)EPS ($)
FY2022$1.4B$4.50
FY2023$104M$0.34
FY2024$638M$2.07
FY2025$1.0B$3.21
FY2026$1.9B$6.18
Q1 FY2025$216M$0.69
Q2 FY2025$219M$0.70
Q3 FY2025$207M$0.66
Q4 FY2025$368M$1.16
Q1 FY2026$255M$0.81
Q2 FY2026$359M$1.16
Q3 FY2026$613M$2.01
Q4 FY2026$674M$2.22
Q1 FY2027$426M$1.42
Q2 FY2027$1.5B$5.15

Profit kept per $100 of revenue

$39.0FY2026

Operating income was $23.1 per $100 of revenue in FY2026, up from $5.6 in FY2023, when stock-based pay was $1,285.8 million, or 29.3% of revenue; it was 15.6% of revenue in FY2026.

$ of profit per $100 of revenue (net margin)

See the numbers
Profit kept per $100 of revenue ($ of profit per $100 of revenue (net margin))
YearNet marginEBITDA margin
FY202233.6%27.1%
FY20232.4%7.5%
FY202414.1%13.9%
FY202521.7%20.1%
FY202639.0%25.8%

Free cash flow

$1.9BFY2026

Free cash flow (cash from operations minus equipment purchases) was $1,924.1 million in FY2026, 39.5% of revenue, helped by $760.8 million of stock-based pay that costs no cash.

US$ · cash from operations minus spending on plants and equipment

See the numbers
Free cash flow (US$ · cash from operations minus spending on plants and equipment)
YearCash from operationsCapital spendingFree cash flow
FY2022$1.6B$133M$1.5B
FY2023$1.3B$104M$1.2B
FY2024$1.6B$127M$1.5B
FY2025$1.9B$137M$1.8B
FY2026$2.0B$65M$1.9B
See all yearly numbers
Zoom annual financials, FY2022–FY2026, US$
YearRevenueEBITDANet profitEPS ($)Operating cashCapexFree cash
FY2022$4.1B$1.1B$1.4B$4.50$1.6B$133M$1.5B
FY2023$4.4B$328M$104M$0.34$1.3B$104M$1.2B
FY2024$4.5B$630M$638M$2.07$1.6B$127M$1.5B
FY2025$4.7B$936M$1.0B$3.21$1.9B$137M$1.8B
FY2026$4.9B$1.3B$1.9B$6.18$2.0B$65M$1.9B

EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (January 31 (FY2026 = year ended Jan 31, 2026)). Net profit is the share belonging to the company's owners.

Download Zoom's yearly and quarterly numbers (CSV, with source ids)

Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares

Sources (11)
Next: What they said, and what happened

06Who runs it

Who runs Zoom, and did they deliver?

  • Eric S. Yuan

    Founder, Chairman, President and CEO · since 2011

    CEO since June 2011; formerly vice president of engineering at Cisco. FY2026 total pay was $1,280,858, including a $450,000 salary and $464,022 of stock awards; FY2024 total pay was $28,082,133, mostly stock awards.

  • Jeff Epstein

    Director · since 2026

    Joined the board on Aug 31, 2026; a former chief financial officer of Oracle.

What they said, and what happened

3 delivered · 2 too early to tell

  1. Said on Feb 24, 2025

    Zoom said it expected FY2026 revenue of $4.785–4.795 billion.

    What happened

    FY2026 revenue was $4,868.8 million, above the range.

    Delivered

  2. Said on Feb 24, 2025

    Zoom said it expected FY2026 free cash flowCash from operations minus spending on buildings and equipment. Learn more of $1.680–1.720 billion.

    What happened

    FY2026 free cash flow was $1,924.1 million.

    Delivered

  3. Said on May 21, 2026

    Zoom said it expected Q2 FY2027 revenue of $1.265–1.270 billion.

    What happened

    Q2 FY2027 revenue was $1,277.2 million.

    Delivered

  4. Said on Aug 25, 2026

    Zoom said it expected Q3 FY2027 revenue of $1.275–1.280 billion.

    What happened

    Q3 FY2027 ended Oct 31, 2026; results were not out in the documents read.

    Too early to tell

  5. Said on Aug 25, 2026

    Zoom said it expected FY2027 revenue of $5.085–5.095 billion.

    What happened

    FY2027 ends Jan 31, 2027. Revenue was $2,516.2 million in the first half (Cityfort calculation from the Q1 FY2027 and Q2 FY2027 earnings releases).

    Too early to tell
Sources (6)
Next: What could go wrong

07What could go wrong

What could go wrong for Zoom?

  • Other

    Investment gains swing net income

    Zoom's Anthropic preferred stock was carried at $3,134.5 million at Jul 31, 2026, 23.1% of total assets (Cityfort calculation from the Q2 FY2027 10-Q). The gains are unrealized: Zoom remeasured the stake on Anthropic's financing rounds announced Feb 12 and May 28, 2026. The 10-Q lists the value of strategic investments as a risk. Zoom also recorded $388.0 million of net unrealized gains on unnamed investments in Q3 FY2026.

    Watch The gains or losses on strategic investments line in each earnings release, beside operating income.

  • Governance

    Founder voting control

    Class B shares carry 10 votes each and held 52.0% of votes on Aug 14, 2026; Eric S. Yuan alone held 37.7% on Mar 31, 2026. Class B converts automatically 15 years after the April 2019 IPO closed, or earlier, for example six months after Yuan stops providing services to Zoom.

    Watch Class B share counts on each 10-Q cover and the proxy's voting-power table.

  • Demand

    Slow growth and Online churn

    Revenue grew 3.1% to 4.4% a year from FY2024 to FY2026. Online revenue grew 1.2% in FY2026, and Zoom's average monthly churn measure for Online was 2.9% in Q2 FY2027. Zoom's 10-K lists a fluctuating or declining growth rate among its risks.

    Watch Online revenue growth and churn in each earnings release.

  • Competition

    Larger competitors

    Zoom's 10-K names Microsoft 365 (Teams), Google Workspace (Meet) and Cisco Webex among its competitors and lists competition from larger rivals among its main risks.

    Watch Enterprise revenue growth, 7.8% in Q2 FY2027, and the Enterprise net dollar expansion rate, 99%.

  • Legal

    DOJ investigation

    Zoom received a grand jury subpoena from the US Attorney's Office for the Eastern District of New York in June 2020; its Q2 FY2027 10-Q says that investigation is ongoing.

    Watch The legal note of each 10-Q and any 8-K.

  • Execution

    Research work in China

    Zoom's 10-K says a significant portion of its research and development work is in China and lists operations outside the US among its risks.

    Watch Changes to this risk factor in the next 10-K.

  • Other

    Stock-based pay

    Stock-based pay was $760.8 million in FY2026, 15.6% of revenue, down from $1,285.8 million in FY2023. It is the largest item between GAAP and non-GAAPThe company's own "adjusted" numbers, not the official (GAAP) ones. Always read them next to the official figure. Learn more operating income.

    Watch Stock-based pay in each quarter's cash flow statement; it was $179.8 million in Q2 FY2027.

Sources (8)
Next: Supporters vs. critics

08Both sides

What do supporters and critics point to?

Facts each side points to. We don't say which side is right.

What supporters point to

  • Free cash flow was $1,924.1 million in FY2026, 39.5% of revenue.
  • Zoom had $7,249.7 million of cash and marketable securities and no borrowings at Jul 31, 2026.
  • Enterprise revenue grew 7.8% in Q2 FY2027, and customers paying over $100,000 a year rose 8.2% to 4,625.
  • Operating income rose from $5.6 per $100 of revenue in FY2023 to $23.1 in FY2026.
  • Zoom repurchased $1,620.7 million of shares in FY2026; diluted shares fell from 315.1 million in FY2025 to 299.7 million in Q2 FY2027.

What critics point to

  • Revenue grew 3.1% to 4.4% a year from FY2024 to FY2026, and Online revenue grew 1.2% in FY2026.
  • Net income includes large unrealized gains: $969.8 million of strategic-investment gains in FY2026 and $1,612.7 million on the Anthropic stake in Q2 FY2027.
  • Class B shares, mostly held by insiders, carried 52.0% of votes on Aug 14, 2026.
  • Stock-based pay was $760.8 million in FY2026, 15.6% of revenue.
  • Zoom received a grand jury subpoena from the US Attorney's Office for the Eastern District of New York in June 2020; its Q2 FY2027 10-Q says that investigation is ongoing.
Next: What to watch next

09What to watch next

What should you watch next at Zoom?

Next event

Q3 FY2027 results

Date not announced yet.

  • Revenue against the company's Q3 FY2027 range

    Zoom said on Aug 25, 2026 that it expects $1.275–1.280 billion. Q2 FY2027 revenue was $1,277.2 million.

  • Operating income beside investment gains

    In Q2 FY2027 operating income was $314.3 million, while gains on strategic investments were $1,614.2 million. Zoom remeasured the Anthropic stake on Anthropic's financing round announced May 28, 2026.

  • Enterprise and Online growth

    Enterprise revenue grew 7.8% and Online 0.6% in Q2 FY2027; Online average monthly churn was 2.9%.

  • Share repurchases

    About $1.3 billion of the $4.7 billion authorization was left at Jul 31, 2026.

Next: Key dates

10Key dates

What are the key dates for Zoom?

Dates as stated in the filings. A date that no filing has given yet shows as not yet stated.
Key dates for Zoom
EventDateSource
Director Jonathan Chadwick retires from the boardAnnounced in an 8-K filed Sep 2, 2026.Form 8-K, Items 5.02 and 7.01: Jeff Epstein joins board; Jonathan Chadwick to retire Nov 19, 2026
Fiscal 2027 endsThe Q3 FY2027 results date was not announced in the documents read.Form 10-Q, Q2 fiscal 2027 (quarter ended Jul 31, 2026)
Class B shares convert to Class AAutomatically on the 15th anniversary of the April 2019 IPO closing, or earlier on other triggers, per the FY2026 10-K.Not yet statedForm 10-K, fiscal year 2026 (ended Jan 31, 2026)

Learn: What is an 8-K? A company's news report, with a real Adobe filing · Dual-class shares: when votes and ownership don't match · Fiscal years that don't end in December: Nvidia's FY2027 explained

Sources (3)
Next: Key facts

11Key facts

Key facts about Zoom

What does Zoom do?
Zoom Communications, Inc. sells subscriptions to software for video meetings, cloud phone calls, team chat, webinars and customer-service contact centers, grouped as Zoom Workplace and Zoom Business Services. Zoom had revenue of $4,868.8 million in FY2026 (year ended Jan 31, 2026) and 7,438 full-time employees at that date.
How does Zoom make money?
Zoom makes money from monthly, annual and multiyear subscriptions to its software. In FY2026 Zoom earned $2,934.1 million from Enterprise customers, reached through its sales team and partners, and $1,934.7 million from Online customers, who sign up on its website.
What is Zoom's business model?
Zoom's business model is subscription software, sold on its website to self-serve customers and through sales teams and partners to larger organizations. Zoom kept $77.0 of gross profit per $100 of FY2026 revenue, and spent $28.5 per $100 on sales and marketing as shown in Zoom's FY2026 10-K.
Is Zoom profitable?
Yes. Zoom reported operating income of $1,123.6 million and net income of $1,900.1 million in FY2026; net income included $969.8 million of gains on strategic investments. In Q2 FY2027 (quarter ended Jul 31, 2026) Zoom's operating income was $314.3 million and net income $1,542.4 million, after a $1,612.7 million unrealized gain on its Anthropic stake.
What is Zoom's revenue by segment?
Zoom reports one segment. It splits revenue into two customer categories: Enterprise was 60.3% and Online 39.7% of FY2026 revenue. By billing address, the Americas were 72.1% of Zoom's FY2026 revenue, Europe, the Middle East and Africa 15.8% and Asia-Pacific 12.1%.
How much does Zoom earn from Enterprise customers?
Zoom earned $2,934.1 million from Enterprise customers in FY2026, up 6.5%, and $787.5 million in Q2 FY2027, up 7.8% from a year earlier. Enterprise customers are business units reached by Zoom's direct sales team, resellers or strategic partners.
How much does Zoom earn from Online customers?
Zoom earned $1,934.7 million from Online customers, who subscribe through its website, in FY2026, up 1.2%. Online revenue was $489.7 million in Q2 FY2027, up 0.6% from a year earlier.
Who are Zoom's customers?
Zoom's customers range from single paid users to Fortune 50 organizations, and no customer was more than 10% of Zoom's FY2026 revenue. Zoom had 4,625 customers paying it more than $100,000 over the 12 months to Jul 31, 2026; such customers made up 32.8% of FY2026 revenue.
Who owns Zoom?
Founder and CEO Eric S. Yuan held 37.7% of Zoom's total votes on Mar 31, 2026, mostly through Class B shares that carry 10 votes each, and Zoom's directors and executive officers as a group held 46.1%. Vanguard Capital Management reported 5.19% of Zoom's Class A shares as of Mar 31, 2026, and Vanguard Portfolio Management 5.08% as of Sep 30, 2026.
Does Zoom own a stake in Anthropic?
Yes. Zoom Communications holds preferred stock in Anthropic, PBC, carried at $3,134.5 million on Jul 31, 2026. Zoom recorded a $1,612.7 million unrealized gain on it in Q2 FY2027, based on a financing round Anthropic announced on May 28, 2026.
Sources (7)
Next: Go deeper

Terms on this page

Each explains the term in plain English, with the same number from other companies on Cityfort.

Go deeper

More detail from the same filings. Open any section.

12What it sells

12What it sells

What does Zoom sell?

Zoom sells software that lets people meet on video, make phone calls over the internet, chat and run customer-service centers. Customers pay a subscription, monthly, yearly or for several years.

  • Zoom Meetings

    Video meetings in a browser, app or meeting room, with up to 1,000 video participants.

  • Zoom Phone

    A cloud phone system: businesses make and take calls over the internet instead of using office phone lines.

  • Team Chat, Docs, Whiteboard and Clips

    Messaging, shared documents, digital whiteboards and short video recordings, sold with Meetings and Phone as Zoom Workplace.

  • Workvivo

    An employee-experience platform, bought in April 2023 for $221.8 million in cash.

  • Contact Center

    Software for customer-service teams that handle calls, chats and messages, part of Zoom Business Services.

  • Webinars and Events

    Online events and webinars, for up to 1 million attendees with an expanded license.

  • AI Companion

    An AI assistant across Zoom's products, launched in September 2023. It uses Zoom's own models plus third-party models, including from OpenAI, Anthropic and Meta.

What it does

  • Does: Sells monthly, annual and multiyear subscriptions
  • Does: Sells online, through its own sales teams by customer size, region and industry, and through resellers and other partners
  • Does: Relies on free users upgrading to paid plans, as its 10-K risk factors describe
  • Does: Hosts more than 3,100 apps from other developers in its App Marketplace

What it does not do

  • Does not: Does not report revenue by product; it reports one segment
  • Does not: Does not pay a dividend
  • Does not: Has no borrowings
  • Does not: Has not reported its Enterprise customer count since Q4 FY2025, when it was about 192,600
Sources (2)
13How the money flows

13How the money flows · FY2026

How does money flow through Zoom?

Money in

  • Enterprise customers$2.9B
  • Online customers$1.9B
  • Gains on strategic investments and other income (mostly interest)$1.3B

The company

Zoom

$6.2B came in

Money out

  • Running the service (cost of revenue)$1.1B
  • Sales and marketing$1.4B
  • Research and development$845M
  • General and administrative$393M
  • Income tax$522M
  • Net income$1.9B
  1. Enterprise and Online customers paid Zoom $4,868.8 million in FY2026.
  2. Running the service cost $1,119.0 million, leaving gross profit of $3,749.7 million.
  3. Sales and marketing took $1,388.3 million, research and development $844.9 million and general and administrative $392.9 million. That left operating income of $1,123.6 million.
  4. Gains on stakes in other companies ($969.8 million) and other income, mostly interest ($328.8 million), added $1,298.6 million.
  5. After $522.1 million of income tax, net income was $1,900.1 million.
Sources (2)
14What it needs to run

14What it needs to run

What does Zoom need to run?

  • People

    7,438 full-time employees at Jan 31, 2026 (3,457 in the US and 3,981 elsewhere), against 7,412 a year earlier and 8,484 at Jan 31, 2023.

  • Engineers, many in China

    Research and development cost $844.9 million in FY2026. Zoom's 10-K says a significant portion of its research and development work is in China.

  • Data centers and cloud services

    The service runs on data centers and cloud providers; Zoom's 10-K lists outages among its main risks. Cost of revenue was $1,119.0 million in FY2026.

  • AI models

    Zoom uses its own small and large language models plus third-party models from OpenAI, Anthropic and Meta.

Sources (3)
15Where it sells

15Where it sells · FY2026

Where does Zoom sell?

  • Americas72%
  • Europe, Middle East and Africa16%
  • Asia-Pacific12%
Sources (1)
16Competitors and what protects it

16Competitors and what protects it

Who does Zoom compete with?

Zoom's FY2026 10-K names Cisco Webex, GoTo, Microsoft 365 (Teams), Google Workspace (Meet), Avaya, RingCentral and 8x8 as competitors, Five9, Genesys and NICE inContact in contact centers, and consumer platforms from Amazon, Apple and Facebook. No document read gives a market share.

  • Microsoft

    NASDAQ: MSFT

    Zoom's FY2026 10-K names Microsoft 365, which includes Teams, as a competitor.

  • Alphabet

    NASDAQ: GOOGL

    Zoom's FY2026 10-K names Google Workspace, which includes Google Meet, as a competitor.

  • Cisco

    NASDAQ: CSCO

    Zoom's FY2026 10-K names Cisco Webex as a competitor.

  • RingCentral

    Named as a competitor in Zoom's FY2026 10-K, alongside Avaya and 8x8.

  • Five9

    Named in Zoom's FY2026 10-K as a contact-center competitor, with Genesys and NICE inContact.

What protects the business

Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.

  • Subscription contracts3 of 5

    Remaining performance obligationsSigned contracts with customers that have not been billed yet., contracted revenue not yet recognized, were $4,535.9 million at Jul 31, 2026, 57% of it due within 12 months. No customer was more than 10% of FY2026 revenue.

  • Larger customers3 of 5

    4,625 customers paid Zoom more than $100,000 over the 12 months to Jul 31, 2026, up 8.2%, and such customers made up 32.8% of FY2026 revenue.

  • Cash and no debt4 of 5

    Zoom had $7,249.7 million of cash and marketable securities and no borrowings at Jul 31, 2026.

Weak spot

Slow-growing Online business

Online revenue grew 1.2% in FY2026 and 0.6% in Q2 FY2027, and Zoom's average monthly churn measure for Online was 2.9% in Q2 FY2027. Zoom's 10-K also lists competition from larger rivals among its main risks.

Sources (4)
17Where growth could come from

17Where growth could come from

Where could Zoom's growth come from?

Zoom said on Aug 25, 2026 that it expects FY2027 revenue of $5.085–5.095 billion and Q3 FY2027 revenue of $1.275–1.280 billion. It also put FY2027 free cash flow at $1.780–1.820 billion, up from $1.700–1.740 billion in its May 21, 2026 outlook.
Management statement, Aug 25, 2026. Reported as a statement, not our forecast.

  • Enterprise customers

    Working

    +7.8% in Q2 FY2027

    Enterprise revenue was $787.5 million in Q2 FY2027, up 7.8%, which CEO Eric Yuan called "its strongest growth rate in three years". It grew 6.5% in FY2026.

    Status: Working, on track against what the company said.

  • Customers paying over $100,000 a year

    Working

    4,625, +8.2%

    4,625 customers paid more than $100,000 over the 12 months to Jul 31, 2026, against 2,725 at Jan 31, 2022.

    Status: Working, on track against what the company said.

  • Online (website) customers

    Mixed

    +0.6% in Q2 FY2027

    Online revenue was $489.7 million in Q2 FY2027. It fell 0.4% in Q4 FY2025 and 1.2% in Q1 FY2026, then grew in each of the next five quarters.

    Status: Mixed, partly on track.

  • Acquisitions

    New

    $266.8M for Common Room

    Zoom bought Common Room, AI software for sales and marketing teams, on Jul 17, 2026 for $266.8 million in cash, and BrightHire, AI software for job interviews, on Dec 1, 2025 for $98.0 million.

    Status: New, recently announced.

Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.

Sources (10)
18The company's own measures (non-GAAP)

18The company's own measures · FY2026 and Q2 FY2027

What do Zoom's own measures show?

Adjusted (non-GAAP) figures and customer measures are Zoom's own, shown next to the official (GAAP) number. They are never added together.

  • Official (GAAP): Income from operations, Q2 FY2027

    $314M

    Company's own measure: Non-GAAP income from operations, Q2 FY2027

    $510M

    Zoom leaves out stock-based pay and related payroll taxes ($179.8 million of stock-based pay in the quarter), acquisition-related expenses and litigation settlements, net.

  • Official (GAAP): Income from operations, FY2026

    $1.1B

    Company's own measure: Non-GAAP income from operations, FY2026

    $2.0B

    Leaves out the same costs, plus a charitable donation of stock and an impairment in FY2026.

  • Official (GAAP): Diluted EPS, Q2 FY2027

    $5.15

    Company's own measure: Non-GAAP diluted EPS, Q2 FY2027

    $1.55

    Also leaves out gains and losses on strategic investments and their tax effects, including the $1,612.7 million Anthropic gain, so it was below GAAP EPS in this quarter.

  • Official (GAAP): Net cash from operating activities, FY2026

    $2.0B

    Company's own measure: Free cash flow (company measure), FY2026

    $1.9B

    Cash from operations minus purchases of property and equipment, the same definition this page uses.

  • Official (GAAP): Revenue growth, Q2 FY2027

    4.9%

    Company's own measure: Enterprise net dollar expansion rate (trailing 12 months), Jul 31, 2026

    99%

    Zoom's own measure of how spending by existing Enterprise customers changed over 12 months. It was 98% at Jan 31, 2026 and 130% at Jan 31, 2022.

  • Official (GAAP): Revenue growth, Q2 FY2027

    4.9%

    Company's own measure: Online average monthly churn, Q2 FY2027

    2.9%

    Zoom's own measure of average monthly churn in its Online business. 75.6% of Online monthly recurring revenue came from customers subscribed for 16 months or more.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Customers paying over $100,000 (trailing 12 months), Jul 31, 2026

    4,625 customers

    Customers that paid Zoom more than $100,000 over the previous 12 months, up 8.2% from a year earlier. Such customers made up 32.8% of FY2026 revenue.

These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.

Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out · Stock-based compensation and dilution: pay that becomes shares

Sources (5)
19Financial strength and debt

19Financial strength · Jul 31, 2026

How much debt does Zoom have?

At Jul 31, 2026 Zoom had $7,249.7 million of cash and marketable securities and no borrowings.
  • Total debt$0M
  • Cash and investments$7.2B
  • Net cash (cash minus debt)$7.2B
  • Net worth (shareholders' money)$11.3B
Debt to equity
0×
$ of debt for every $1 of shareholders' money
  • Net cash of $7,249.7 million is a Cityfort calculation from the Q2 FY2027 10-Q (cash, cash equivalents and marketable securities minus borrowings, which were zero). Zoom states its cash and marketable securities as $7.2 billion. At Jan 31, 2026 the figure was $7,816.9 million (Cityfort calculation from the FY2026 10-K).
  • Strategic investments of $3,785.9 million, including the Anthropic preferred stock carried at $3,134.5 million, are not counted as cash here.
  • Deferred revenue, money billed but not yet earned, was $1,549.4 million due within a year at Jul 31, 2026.
  • Zoom's liquidity section names no credit facility. Operating lease liabilities are not counted as debt here.
  • Zoom had no borrowings at any year-end from FY2022 to FY2026.
Sources (5)
20Who owns it

20Who owns it · ownership as of Mar 31, 2026

Who owns Zoom?

Class B shares carry 10 votes each and are not listed; they were 9.8% of shares but 52.0% of votes on Aug 14, 2026. Eric S. Yuan held 37.7% of total votes, and directors and executive officers as a group 46.1%, on Mar 31, 2026. The 2026 proxy lists The Vanguard Group with 10.2% of Class A as of Dec 31, 2025; on Mar 27, 2026 it reported 0% after an internal realignment, and two Vanguard units now report separately.
Officers and directors (as a group), votes
46.1%

Shares vs votes by class

Zoom has more than one class of shares, and the classes carry different votes. The share of votes a class holds can differ a lot from its share of the shares.

  • Class A common stock: share of all votes48.0%
  • Class B common stock: share of all votes52.0%

Each class's part of all votes = its shares outstanding × votes per share ÷ the total for all classes.

Share classes
Zoom share classes: shares outstanding (millions) and votes per share
ClassShares (millions)Votes per shareHeld by% of shares% of votesTraded
Class A common stock (263,233,141 shares outstanding on Aug 14, 2026 (10-Q cover). Share and vote percentages are a Cityfort calculation from the Q2 FY2027 10-Q cover.)263.21Public and institutional investors; trades on Nasdaq as ZM90.2%48.0%Yes
Class B common stock (28,550,570 shares outstanding on Aug 14, 2026 (10-Q cover). Votes = 10 × Class B ÷ (Class A + 10 × Class B), a Cityfort calculation from the Q2 FY2027 10-Q cover. Each share converts into one Class A share.)28.610Directors and executive officers held 88.5% of this class on Mar 31, 2026, Eric S. Yuan 72.6%9.8%52.0%No
Holders of 5% or more
Zoom holders of 5% or more, from the proxy statement or later Schedule 13G filings; each row shows its own date
HolderSharesVotesAs ofSourceNote
Eric S. Yuan72.6%37.7%Mar 31, 2026S16% of Class B: 20,837,285 Class B shares held through the 2018 Yuan and Zhang Revocable Trust, plus 74,914 Class A shares (restricted stock units).
Emergence Capital Partners III10.2%5.3%Mar 31, 2026S16% of Class B: 2,928,046 shares. Director Santiago Subotovsky shares control of these shares.
Dan Scheinman (director)5.7%3.0%Mar 31, 2026S16% of Class B: 1,644,255 shares.
BlackRock, Inc.6.6%3.2%Dec 31, 2024S16% of Class A: 17,464,094 shares, as listed in the 2026 proxy from a Schedule 13G/A filed Feb 2, 2025 with data as of Dec 31, 2024, so it may be out of date.
Vanguard Capital Management5.2%–Mar 31, 2026S18% of Class A: 13,809,722 shares as of Mar 31, 2026, from its Schedule 13G filed Apr 30, 2026.
Vanguard Portfolio Management5.1%–Sep 30, 2026S17% of Class A: 13,386,140 shares as of Sep 30, 2026, from its Schedule 13G/A filed Oct 30, 2026.

From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.

Insider trades · Form 4 data as of Nov 6, 2026

What did Zoom's insiders report trading?

Zoom's insiders made 68 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.

They reported no purchases and 184 sales (974,264 shares) in the open market or privately (codes P and S).

184 of the 184 sales were on forms with the Rule 10b5-1 plan box checked.

The same filings report 83 other share transactions (M: 31, C: 27, F: 25).

They also report 79 transactions in options, stock units or other derivatives.

Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.

P
a purchase in the open market or privately
S
a sale in the open market or privately
F
shares withheld or handed over to pay an exercise price or tax when an award is received, exercised or vests
M
exercise or conversion of an option or other derivative, exempt under Rule 16b-3
C
conversion of a derivative security

Code meanings: General Instruction 8 of Form 4 (SEC).

The latest 25 of 267 transactions
Zoom's insider transactions reported on Form 4 in the 12 months to Nov 6, 2026, newest filing first
InsiderTrade dateCodeSharesPriceHeld after10b5-1 boxFiling
Yuan Eric S.Director, Chief Executive OfficerNov 4, 2026C12,100 A$0.0058,097 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 4, 2026S6,175 D$92.139851,922 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 4, 2026S3,622 D$93.034548,300 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 4, 2026S1,195 D$94.200447,105 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 4, 2026S1,047 D$95.261746,058 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 4, 2026S61 D$95.710545,997 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 3, 2026C12,100 A$0.0058,097 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 3, 2026S1,405 D$89.845656,692 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 3, 2026S1,023 D$90.962655,669 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 3, 2026S9,650 D$91.801646,019 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Yuan Eric S.Director, Chief Executive OfficerNov 3, 2026S22 D$92.3645,997 (indirect: See footnote)CheckedForm 4, filed Nov 5, 2026
Subotovsky SantiagoDirectorOct 28, 2026S1,442 D$100.1391116,512CheckedForm 4, filed Oct 30, 2026
Subotovsky SantiagoDirectorOct 22, 2026S20 D$100.434117,954CheckedForm 4, filed Oct 23, 2026
Chang MichelleChief Financial OfficerOct 21, 2026S10,156 D$101.931430,282CheckedForm 4, filed Oct 23, 2026
Subotovsky SantiagoDirectorOct 21, 2026S3,436 D$100.4915118,350CheckedForm 4, filed Oct 23, 2026
Subotovsky SantiagoDirectorOct 21, 2026S376 D$101.1884117,974CheckedForm 4, filed Oct 23, 2026
McMaster Herbert RaymondDirectorOct 21, 2026S1,500 D$101.256,979CheckedForm 4, filed Oct 23, 2026
Subotovsky SantiagoDirectorOct 15, 2026S35 D$93.6497682 (indirect: See footnote)CheckedForm 4, filed Oct 23, 2026
Subotovsky SantiagoDirectorOct 15, 2026S64 D$94.597618 (indirect: See footnote)CheckedForm 4, filed Oct 23, 2026
Subotovsky SantiagoDirectorOct 15, 2026S84 D$95.436534 (indirect: See footnote)CheckedForm 4, filed Oct 23, 2026
Subotovsky SantiagoDirectorOct 15, 2026S280 D$96.6112254 (indirect: See footnote)CheckedForm 4, filed Oct 23, 2026
Subotovsky SantiagoDirectorOct 15, 2026S88 D$97.3978166 (indirect: See footnote)CheckedForm 4, filed Oct 23, 2026
Subotovsky SantiagoDirectorOct 15, 2026S166 D$98.260 (indirect: See footnote)CheckedForm 4, filed Oct 23, 2026
McGarry Kimberly JChief Accounting OfficerOct 13, 2026F8,692 D$97.5565346Not checkedForm 4, filed Oct 13, 2026
Sankarlingam VelchamyPres. of Engineering & ProductOct 12, 2026S2,346 D$98.6309157,112CheckedForm 4, filed Oct 13, 2026

Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of Zoom's Form 4 filings on EDGAR.

Learn: Dual-class shares: when votes and ownership don't match · How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades

Sources (4)
21What it does with profit

21What it does with profit

What does Zoom do with its profit?

Zoom paid no dividend in FY2022 to FY2026. It retires the shares it buys back; diluted shares fell from 315.1 million in FY2025 to 299.7 million in Q2 FY2027.

  • Buyback · Jan 31, 2023

    Repurchased $1,000.0 million of shares in FY2023.

    $1.0B

  • Buyback · Jan 31, 2025

    Repurchased $1,093.9 million of shares in FY2025, about 15.9 million shares.

    $1.1B

  • Buyback · Jan 31, 2026

    Repurchased $1,620.7 million of shares in FY2026, about 20.4 million shares.

    $1.6B

  • Buyback · Jul 31, 2026

    The board has authorized $4.7 billion of repurchases since February 2024, with no expiration date: $1.5 billion in February 2024, then $1.2 billion in November 2024, $1.0 billion in November 2025 and $1.0 billion in May 2026. Zoom had bought back 44.2 million shares under the program by Jul 31, 2026, with about $1.3 billion left.

Sources (6)
22Governance signals

22Governance signals

What do Zoom's governance filings show?

Auditor
KPMG LLP
Auditor changes
None in the period covered
Audit qualifications
None reported
Related-party dealings
Zoom's 2026 proxy statement describes three related-person arrangements. An investors' rights agreement gives some holders, including Eric S. Yuan, Puccini World Limited and entities affiliated with Emergence Capital, the right to have their shares included in a registration statement. In August 2021 Zoom made a $1.0 million gift, payable over five years from Feb 1, 2022, to the Center for Security in Politics at the University of California, Berkeley, founded and directed by Janet Napolitano, a Zoom director for part of FY2026. Robert Fenger, son of director Michael Fenger, has worked at Zoom since 2020 and received about $219,118 in total pay, including equity, for FY2026. KPMG's audit fees for FY2026 were $5,796,633.
Credit rating
No public credit rating found in a search of rating agency sites on Nov 6, 2026

Flags to know about

  • regulatory

    DOJ investigation continues

    Zoom received a grand jury subpoena from the US Attorney's Office for the Eastern District of New York in June 2020; its Q2 FY2027 10-Q says that investigation is ongoing. The 10-Q says the SEC informed Zoom on Jul 30, 2025 that its investigation had concluded and it did not intend to recommend an enforcement action, after which Zoom reversed an $18.0 million accrual, and that the US Attorney's Office for the Northern District of California informed Zoom on Aug 17, 2026 that its investigation had concluded and it did not intend to take any further action.

  • other

    Founder voting control

    Class B shares, with 10 votes each, held 52.0% of votes on Aug 14, 2026. Eric S. Yuan held 37.7% of votes and directors and executive officers 46.1% on Mar 31, 2026.

  • other

    Leadership changes in 2026

    Chief operating officer Aparna Bawa resigned effective May 8, 2026, and director William McDermott resigned on Jul 27, 2026. Jeff Epstein joined the board on Aug 31, 2026, and director Jonathan Chadwick is to retire on Nov 19, 2026.

Sources (6)
23What the market paid

23What the market paid · price as of Nov 5, 2026

What did the market pay for Zoom on Nov 5, 2026?

Price as of Nov 5, 2026 (shown for education; prices change daily).

Price as of Nov 5, 2026: Zoom's Class A shares closed at $88.82 on Nasdaq. Times 291.8 million Class A and Class B shares (Aug 14, 2026), that is a market value of about $25.9 billion (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the Q2 FY2027 10-Q cover); Class B shares are not listed but convert one-for-one into Class A. P/E, the price divided by diluted earnings per share over the four quarters to Jul 31, 2026 ($10.80), was 8.2 (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the Q3 FY2026 to Q2 FY2027 earnings releases). Those earnings include $2,704.9 million of pre-tax gains on strategic investments, among them the $1,612.7 million Anthropic gain in Q2 FY2027.

Share price
$88.82
Market value (market cap)
$25.9B
P/E
8.2×

More price-based ratios · as of Nov 5, 2026

Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.

Shares used for the market value: 291.78 million ($88.82 × 291.78 million shares ≈ $25.9B). Source: Form 10-Q, Q2 fiscal 2027 (quarter ended Jul 31, 2026); 2026 proxy statement (DEF 14A)

Source: ZM historical quotes, Nasdaq, Oct 20 to Nov 5, 2026 (close Nov 5, 2026: $88.82); Form 10-Q, Q2 fiscal 2027 (quarter ended Jul 31, 2026); Q3 fiscal 2026 earnings release (8-K Ex. 99.1, Nov 24, 2025) and 3 more

Sources (8)
24How it got here

24How it got here

How did Zoom get here?

  1. 2011

    Milestone

    Founded

    Incorporated in Delaware in April 2011 as Saasbee, Inc.; Eric S. Yuan has been CEO since June 2011. It became Zoom Video Communications in 2012.

  2. 2019

    Milestone

    Listed on Nasdaq

    Zoom's IPO was in April 2019; its Class A shares trade on the Nasdaq Global Select Market.

  3. 2020

    Crisis

    DOJ subpoena

    Zoom received a subpoena from the Department of Justice in June 2020; the Eastern District of New York investigation continues.

  4. 2023

    Crisis

    About 15% of staff cut

    In February 2023 Zoom announced a restructuring that cut about 15% of its workforce. Operating income was $5.6 per $100 of revenue in FY2023.

  5. 2023

    Business-model change

    Workvivo and AI Companion

    Zoom bought Workvivo for $221.8 million in April 2023 and launched AI Companion in September 2023, widening beyond meetings.

  6. 2024

    Business-model change

    Renamed Zoom Communications

    The company changed its name from Zoom Video Communications, Inc. to Zoom Communications, Inc. in November 2024.

  7. 2025

    Milestone

    SEC investigation concluded

    The SEC informed Zoom on Jul 30, 2025 that its investigation had concluded and it did not intend to recommend an enforcement action; Zoom reversed an $18.0 million accrual.

  8. 2026

    Milestone

    Anthropic stake named

    Zoom first named Anthropic as an investee in its Q1 FY2027 10-Q, with the stake carried at $1,266.9 million on Apr 30, 2026; a $1,612.7 million unrealized gain followed in Q2 FY2027.

Sources (6)

25Sources and changes

Where every number on this page comes from

Sources (24 documents)
  1. S1Form 10-K, fiscal year 2026 (ended Jan 31, 2026) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 27, 2026
  2. S2Form 10-K, fiscal year 2025 (ended Jan 31, 2025) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 28, 2025
  3. S3Form 10-K, fiscal year 2024 (ended Jan 31, 2024) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 4, 2024
  4. S4Form 10-K, fiscal year 2023 (ended Jan 31, 2023) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 3, 2023
  5. S5Form 10-Q, Q2 fiscal 2027 (quarter ended Jul 31, 2026) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 26, 2026
  6. S6Form 10-Q, Q1 fiscal 2027 (quarter ended Apr 30, 2026) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 22, 2026
  7. S7Form 10-Q, Q3 fiscal 2026 (quarter ended Oct 31, 2025) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 25, 2025
  8. S8Q2 fiscal 2027 earnings release (8-K Ex. 99.1, Aug 25, 2026) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 25, 2026
  9. S9Q1 fiscal 2027 earnings release (8-K Ex. 99.1, May 21, 2026) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 21, 2026
  10. S10Q4 and fiscal 2026 earnings release (8-K Ex. 99.1, Feb 25, 2026) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 25, 2026
  11. S11Q3 fiscal 2026 earnings release (8-K Ex. 99.1, Nov 24, 2025) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 24, 2025
  12. S12Q2 fiscal 2026 earnings release (8-K Ex. 99.1, Aug 21, 2025) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 21, 2025
  13. S13Q1 fiscal 2026 earnings release (8-K Ex. 99.1, May 21, 2025) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 21, 2025
  14. S14Q4 and fiscal 2025 earnings release (8-K Ex. 99.1, Feb 24, 2025) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 24, 2025
  15. S15Q3 fiscal 2025 earnings release (8-K Ex. 99.1, Nov 25, 2024) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 25, 2024
  16. S162026 proxy statement (DEF 14A) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 30, 2026
  17. S17Schedule 13G/A by Vanguard Portfolio Management (as of Sep 30, 2026) · Vanguard Portfolio Management (SEC EDGAR) · Tier 1: company or exchange filing · Oct 30, 2026
  18. S18Schedule 13G by Vanguard Capital Management (as of Mar 31, 2026) · Vanguard Capital Management (SEC EDGAR) · Tier 1: company or exchange filing · Apr 30, 2026
  19. S19Schedule 13G/A by The Vanguard Group (0% after internal realignment, event Mar 13, 2026) · The Vanguard Group (SEC EDGAR) · Tier 1: company or exchange filing · Mar 27, 2026
  20. S20Form 8-K, Items 5.02 and 7.01: Jeff Epstein joins board; Jonathan Chadwick to retire Nov 19, 2026 · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 2, 2026
  21. S21Form 8-K, Item 5.02: director William McDermott resigns (Jul 27, 2026) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 28, 2026
  22. S22Form 8-K, Item 5.02: COO Aparna Bawa to resign effective May 8, 2026 · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 2, 2026
  23. S23Form 8-K, Items 2.02 and 5.03: name change to Zoom Communications, Inc. (Nov 2024) · Zoom Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 25, 2024
  24. S24ZM historical quotes, Nasdaq, Oct 20 to Nov 5, 2026 (close Nov 5, 2026: $88.82) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
Changes to this page (v1 · Nov 6, 2026)
  1. v1 · Nov 6, 2026First version, through Q2 FY2027 (quarter ended Jul 31, 2026). (first version)

Numbers come only from tier 1 and tier 2 sources. Read how we research.

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All information is taken from publicly available sources, mainly company filings with the SEC, which are listed on each page with dates. We work to keep it accurate and correct errors publicly, but we do not guarantee that it is complete, accurate or up to date. Any market price or price-based ratio shown is dated, may be out of date by the time you read it, and is included only to explain concepts.

Statements by company management, including forward-looking statements and guidance, are reported as the company's statements, with their date and source; they are not our forecasts. Adjusted (non-GAAP) figures are the company's own measures and are shown next to the official (GAAP) figures.