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Zoom CommunicationsZM

Legal name
Zoom Communications, Inc.
Sector
Technology
Industry
Services-Computer Programming, Data Processing, Etc.
Exchange
Nasdaq

Stock Price $ZM

Latest filings

You are here#73 of 89 in Technology by market cap

Filing record · 2019–202610-K710-Q238-K67

ZM filed 7 annual reports (10-K), 23 quarterly reports (10-Q) and 67 current reports (8-K) between 2019 and 2026.

  1. Material agreement8-K · Jul ’21Jul ’21
  2. FY2023 annual report10-K · Mar ’23Mar ’23
  3. Leadership change8-K · Aug ’25Aug ’25

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  9. $4.87B
YoY changeLargest recent move+325.8%in FY21Latest +4.4%

1 older move runs past ±150% (largest +325.8%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2026Click a bar to open its SEC filing

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All ZM Financial Metrics53 metrics

Income Statement15

Balance Sheet22

Cash Flow12

Per Share4

02—Overview

Zoom Communications Financial Overview 2022–2026

Updated Nov 4, 2026

Zoom's FY2026 net income of $1,900.1 milliona is nearly 39% of revenue, yet $969.8 million of it came from investment gains, not selling software. The real story sits underneath: a business growing only 4.4% is converting that slow growth into much more profit and cash, while customer expansion has stalled.

Revenue rose from $4,099.9 million in FY2022 to $4,868.8 millionb in FY2026, a pandemic hangover that gave way to low-single-digit growth. Growth was 7% in FY2023, 3.1% in both FY2024 and FY2025, then 4.4% in FY2026. Profitability moved the other way. Income from operations climbed from $245.4 million in FY2023 to $1,123.6 million in FY2026. Gross margin reached 77.0%, up from 75.8% a year earlier. Free cash flow hit $1,924.1 million.

The weak spot is the installed base. Enterprise net dollar expansion slid from 130% in FY2022 to 98% in FY2025 and stayed at 98% in FY2026. Existing customers are shrinking seat counts, not adding them. Management offset that with buybacks of about $1.6 billionc in FY2026, backed by $7.8 billion in cash and marketable securities. The market priced Zoom at 27.1x earnings at the close of FY2025 ($86.94) and 14.9x at the close of FY2026 ($92.10). That multiple was cut nearly in half while the stock price barely moved. EPS rose from $3.21 to $6.18, but investment gains inflated the latter.

Recent Developments (Q1 and Q2 2027)

Zoom's Q2 2027 net income of $1,542.4 milliond came mostly from a $1,614.2 million gain on its Anthropic stake, so the operating picture matters more. Revenue grew 5.5% in Q1 2027 and 4.9% in Q2 2027. Gross margin slipped to 77.2% from 77.6% as AI-related hosting costs rose $24.4 million. R&D expense rose 17.5%. Free cash flow fell to $472.4 million from $508.0 million. Zoom bought Common Room for $266.8 million in July 2026. Board turnover continued, with McDermott resigning and Chadwick set to leave in November 2026. Guidance for free cash flow rose to $1.780–$1.820 billion.

Bull case: Enterprise revenue grew 7.8%, and the Anthropic stake is now carried at $3,134.5 millione. Bear case: Online revenue grew only 0.6%, and the EDNY probe remains unresolved. At 15.2x earnings as of the Q2 2027 report date (August 25, 2026), the multiple reflects inflated EPS, not today's price.

What to watch: Online churn and AI hosting costs against gross margin; resolution of the EDNY investigation

03—Filings

Recent SEC Filings

  1. 8-KZoom Communications 8-K Report, Executive Changes (Sep 2, 2026)Zoom Communications, Inc. (NASDAQ: ZM) filed a Form 8-K reporting that its Board of Directors appointed Jeff Epstein as a director effective August 31, 2026. He was named a Class I director with a term expiring at the 2029 annual meeting and was also appointed to the Audit Committee. Mr. Epstein is an Operating Partner at Bessemer Venture Partners, a role he has held since 2011, and a Lecturer at Stanford University's Graduate School of Business. He is the former Executive Vice President and Chief Financial Officer of Oracle Inc. He also serves on the boards of Autodesk, Inc., AvePoint, Inc., and Twilio, Inc. The filing also discloses that director Jonathan Chadwick notified the Company on September 1, 2026 of his decision to resign from the Board, effective November 19, 2026. The filing states that the resignation was not the result of any disagreement with the Company on its operations, policies or practices. Under the Company's Non-Employee Director Compensation Policy, Mr. Epstein will receive an initial grant of restricted stock units with a target value of $213,219. The RSUs vest the day before the 2027 annual meeting, or the one-year anniversary of the grant date if sooner, subject to continued service. Mr. Epstein has also signed the Company's standard indemnification agreement. The Company announced the appointment in a press release dated September 2, 2026, furnished as Exhibit 99.1.
  2. 8-KZoom Communications 8-K Report, Financial Results (Aug 25, 2026)Zoom Communications, Inc. (NASDAQ: ZM) filed this Form 8-K on August 25, 2026 under Item 2.02 to furnish a press release (Exhibit 99.1) announcing financial results for the second fiscal quarter of fiscal year 2027, ended July 31, 2026. Total revenue was $1,277.2 million, up 4.9% year over year (4.7% in constant currency). Enterprise revenue was $787.5 million, up 7.8%, which the company describes as its strongest growth rate in three years, while Online revenue was $489.7 million, up 0.6%. GAAP net income was $1,542.4 million, or $5.15 per diluted share, compared with $358.6 million, or $1.16 per diluted share, a year earlier. The filing attributes the sharp GAAP increase to gains on strategic investments of $1,614.2 million, which are excluded from non-GAAP results. Non-GAAP net income was $464.0 million, or $1.55 per diluted share, versus $471.3 million, or $1.53 per share, in the prior-year quarter. Operating performance was steady on a non-GAAP basis. Non-GAAP income from operations was $510.3 million with a 40.0% non-GAAP operating margin, compared with $503.2 million in the prior-year quarter. GAAP income from operations was $314.3 million, versus $321.7 million a year earlier, and the GAAP operating margin was 24.6%. Operating cash flow was $494.8 million and free cash flow was $472.4 million, both slightly below the prior-year quarter. The company repurchased approximately 3.7 million shares in the quarter, bringing total repurchases under the current plan to 44.2 million shares, and ended the quarter with $7.2 billion in cash, cash equivalents and marketable securities. For the outlook, Zoom guided third-quarter fiscal 2027 total revenue to $1.275 billion to $1.280 billion and non-GAAP diluted EPS to $1.46 to $1.48. For full fiscal 2027, it guided total revenue to $5.085 billion to $5.095 billion, non-GAAP income from operations to $2.065 billion to $2.075 billion, non-GAAP diluted EPS to $6.08 to $6.12, and free cash flow to $1.780 billion to $1.820 billion. The company noted that the EPS and share count guidance excludes about $1.3 billion of remaining authorized share repurchases. The information is furnished under Item 2.02 and is not deemed filed under Section 18 of the Exchange Act.
  3. 8-KZoom Communications 8-K Report, Executive Changes (Jul 28, 2026)Zoom Communications, Inc. (Nasdaq: ZM) filed a Current Report on Form 8-K dated July 27, 2026, reporting a single event under Item 5.02 (Departure of Directors or Certain Officers). On July 27, 2026, William R. McDermott notified the company of his decision to resign from its board of directors, effective immediately. The filing states that Mr. McDermott's resignation did not result from any disagreement with the company on any matter relating to its operations, policies or practices. The filing does not disclose any replacement director, committee assignments, or compensation arrangements tied to the resignation. The 8-K was signed by Cheree McAlpine, Chief Legal Officer and Secretary, and dated July 28, 2026. No financial results, operational metrics, or other financial figures are reported in this filing.
  4. 8-KZoom Communications 8-K Report, Shareholder Vote Results (Jun 15, 2026)Zoom Communications, Inc. held its 2026 Annual Meeting of Stockholders on June 11, 2026, where stockholders took three actions: electing Class I directors, ratifying KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2027, and approving, on an advisory basis, the compensation of the named executive officers. The filing reports the final vote results for each proposal under Item 5.07. On the director election, Eric S. Yuan received 365,506,590 votes for and 26,355,482 withheld, with 43,129,654 broker non-votes. Lieut. Gen. H.R. McMaster received 302,911,128 votes for and 88,950,944 withheld, with the same 43,129,654 broker non-votes. Both were elected to serve until the 2029 annual meeting of stockholders or until their successors are duly elected and qualified. McMaster's withheld count is substantially higher than Yuan's. Stockholders ratified KPMG LLP with 433,269,602 votes for, 1,467,750 against, and 254,374 abstentions. On executive pay, the advisory say-on-pay proposal received 362,342,009 votes for, 29,299,390 against, 220,673 abstentions, and 43,129,654 broker non-votes. The filing states that stockholders were in favor of the compensation of the named executive officers.
  5. 8-KZoom Communications 8-K Report, Financial Results (May 21, 2026)Zoom Communications, Inc. (NASDAQ: ZM) reported financial results for its first fiscal quarter of 2027, ended April 30, 2026, in a press release furnished as Exhibit 99.1 to this Form 8-K. Total revenue was $1,239.0 million, up 5.5% year over year as reported and 4.6% in constant currency. Enterprise revenue rose 7.2% to $755.7 million, while Online revenue was $483.3 million, up 2.8%. GAAP net income was $425.7 million, or $1.42 per diluted share, compared with $254.6 million, or $0.81 per share, a year earlier. Non-GAAP net income was $465.0 million, or $1.55 per diluted share, versus $1.43 in the prior-year quarter. GAAP operating margin was 25.1%, up 450 bps, and non-GAAP operating margin was 41.1%, up 130 bps. The trailing 12-month net dollar expansion rate for Enterprise customers improved to 99% from 98%, while Online average monthly churn rose to 3.0% from 2.8%. Cash flow remained strong, with operating cash flow of $521.6 million and free cash flow of $500.5 million for the quarter. Total cash, cash equivalents, and marketable securities were $7.7 billion as of April 30, 2026. The company updated its full fiscal 2027 outlook, calling for total revenue of $5.080 billion to $5.090 billion, non-GAAP income from operations of $2.065 billion to $2.075 billion, non-GAAP diluted EPS of $5.96 to $6.00, and free cash flow of $1.700 billion to $1.740 billion. Guidance for the second quarter of fiscal 2027 calls for total revenue of $1.265 billion to $1.270 billion. In May 2026 the Board authorized an additional $1.0 billion share repurchase, incremental to the $625.0 million remaining authorization as of April 30, 2026. Repurchases will be funded from working capital and may be suspended or discontinued at any time. The company also reported 4,534 customers contributing more than $100,000 in trailing 12-month revenue, up 8.2% year over year.
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04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.