ZM 8-K Current Reports

Zoom 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.

Aug 25, 2026 8-K

Zoom 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.

Jul 28, 2026 8-K

Zoom 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.

Jun 15, 2026 8-K

Zoom 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.

May 21, 2026 8-K

Zoom Communications 8-K Report, Executive Changes (Apr 2, 2026)

Zoom Communications, Inc. (ZM) filed a Current Report on Form 8-K dated March 30, 2026 (filed April 2, 2026) to disclose a leadership change. Under Item 5.02, Aparna Bawa notified the company on March 30, 2026 that she intends to resign from her role as Chief Operating Officer, effective May 8, 2026. The filing states that Ms. Bawa's decision was not the result of any disagreement with the company. No successor, interim arrangement, or compensation terms are disclosed in this filing. For investors, this is a routine executive transition with a defined effective date, and the filing gives no indication of a dispute or governance concern. The filing is signed by CFO Michelle Chang.

Apr 2, 2026 8-K

Zoom Communications 8-K Report, Financial Results (Feb 25, 2026)

Zoom Communications, Inc. (NASDAQ: ZM) filed this Form 8-K under Item 2.02 (Results of Operations and Financial Condition) to furnish a February 25, 2026 press release reporting results for the three months and fiscal year ended January 31, 2026. Fourth-quarter total revenue was $1,247.0 million, up 5.3% year over year (4.8% in constant currency), and Enterprise revenue was $757.3 million, up 7.1%. Full-year revenue was $4,868.8 million, up 4.4% (4.2% in constant currency), with Enterprise revenue of $2,934.1 million, up 6.5%, and Online revenue of $1,934.7 million, up 1.2%. Customers contributing more than $100,000 in trailing 12-month revenue rose 9.3% to 4,468. Profitability was lifted by strategic investment gains. GAAP net income for the fourth quarter was $674.1 million ($2.22 diluted EPS), versus $367.9 million ($1.16) a year earlier, and included $532.3 million of gains on strategic investments. Non-GAAP operating margin was 39.3% in the quarter, down 20 bps year over year, and 40.4% for the full year, up 100 bps. Full-year free cash flow was $1,924.1 million, up 6.4%, and the company repurchased about 20.4 million shares during the fiscal year, with $1.0 billion of authorization remaining as of January 31, 2026. For fiscal 2027, Zoom guided to total revenue of $5.065 billion to $5.075 billion, non-GAAP operating income of $2.050 billion to $2.060 billion, non-GAAP diluted EPS of $5.77 to $5.81, and free cash flow of $1.700 billion to $1.740 billion. The first-quarter outlook calls for revenue of $1.220 billion to $1.225 billion and non-GAAP diluted EPS of $1.40 to $1.42. Management stated it expects to surpass the $5 billion revenue milestone in FY27.

Feb 25, 2026 8-K

Zoom Communications 8-K Report, Financial Results (Nov 24, 2025)

Zoom Communications, Inc. (NASDAQ: ZM) furnished this Form 8-K under Item 2.02 to report its financial results for the third fiscal quarter of fiscal year 2026, the three months ended October 31, 2025, via a press release attached as Exhibit 99.1. Total revenue was $1,229.8 million, up 4.4% year over year as reported and 4.2% in constant currency. Enterprise revenue was $741.4 million, up 6.1%, while Online revenue was $488.4 million, up 2.0%. GAAP income from operations was $310.4 million (GAAP operating margin 25.2%), compared with $182.8 million a year earlier, and non-GAAP income from operations was $507.0 million (non-GAAP operating margin 41.2%). GAAP net income was $612.9 million, or $2.01 per diluted share, versus $0.66 a year earlier, though the filing shows GAAP results were boosted by $406.1 million of gains on strategic investments. Non-GAAP diluted EPS was $1.52, up 10.1% year over year. Cash generation was strong: operating cash flow was $629.3 million (up 30.2% year over year) and free cash flow was $614.3 million. The company reported total cash, cash equivalents, and marketable securities of $7.9 billion as of October 31, 2025. Management pointed to AI Companion adoption, Custom AI Companion, and the AI-first Customer Experience suite as drivers. Zoom also reported 4,363 customers contributing more than $100,000 in trailing 12-month revenue, up 9.2%, and an Enterprise trailing 12-month net dollar expansion rate of 98%. Zoom repurchased approximately 5.1 million shares in the quarter, bringing total repurchases under the current plan to 32.5 million shares, and the Board authorized an additional $1.0 billion repurchase, incremental to the $310.4 million remaining as of October 31, 2025. The filing also updated fiscal 2026 guidance: fourth-quarter total revenue of $1.230 billion to $1.235 billion and full-year revenue of $4.852 billion to $4.857 billion, with full-year non-GAAP diluted EPS of $5.95 to $5.97 and full-year free cash flow of $1.860 billion to $1.880 billion. Per the filing, the EPS and share count guidance excludes the impact of the new repurchase authorization.

Nov 24, 2025 8-K

Zoom Communications 8-K Report, Financial Results (Aug 21, 2025)

Zoom Communications, Inc. (NASDAQ: ZM) reported financial results for the second fiscal quarter of 2026, ended July 31, 2025. Total revenue was $1,217.2 million, up 4.7% year over year as reported and 4.4% in constant currency. Enterprise revenue rose 7.0% to $730.7 million, while Online revenue was $486.6 million, up 1.4%. GAAP net income was $358.6 million, or $1.16 per diluted share, compared with $0.70 a year earlier. Non-GAAP diluted EPS was $1.53, up 10.0% year over year. GAAP operating margin was 26.4% and non-GAAP operating margin was 41.3%. Net cash provided by operating activities was $515.9 million, and free cash flow was $508.0 million, compared with $365.1 million in the prior-year quarter. Total cash, cash equivalents and marketable securities were $7.8 billion as of July 31, 2025. Management raised its full-year fiscal 2026 outlook for revenue, non-GAAP income from operations and free cash flow. Full-year total revenue is now expected to be between $4.825 billion and $4.835 billion, non-GAAP income from operations between $1.905 billion and $1.915 billion, and free cash flow between $1.740 billion and $1.780 billion. For the third quarter, total revenue is guided to $1.210 billion to $1.215 billion and non-GAAP diluted EPS to $1.42 to $1.44. The company repurchased approximately 6.0 million shares in the quarter, bringing the total under the current plan to 27.4 million shares, and $724.7 million of repurchase authorization remained as of July 31, 2025. Operating metrics were mixed. Customers contributing more than $100,000 in trailing 12-month revenue rose 8.7% to 4,274, and the trailing 12-month net dollar expansion rate for Enterprise customers was 98%. Online average monthly churn was 2.9%, flat year over year. The CEO highlighted the highest year-over-year revenue growth in 11 quarters and a 9 percentage point year-over-year expansion in GAAP operating margin. GAAP results benefited from a sharp decline in general and administrative expense, and GAAP net income was boosted by gains on strategic investments and other income.

Aug 21, 2025 8-K

Zoom Communications 8-K Report, Executive Changes (Aug 15, 2025)

Zoom Communications, Inc. (ZM) reported in this Form 8-K, filed August 15, 2025, two governance changes. Director Peter Gassner notified the company on August 14, 2025 that he will resign from the Board of Directors effective August 31, 2025. The filing states his decision was not the result of any disagreement with the company on its operations, policies or practices. On August 14, 2025, the Board appointed Kimberly McGarry, the company's Chief Accounting Officer, as principal accounting officer effective immediately, replacing Michelle Chang, the company's Chief Financial Officer, who had previously held that role. Ms. McGarry has served as Chief Accounting Officer since June 2025 and previously held similar roles at Circana, Inc. and Morningstar, Inc. The filing also describes Ms. McGarry's offer letter, which provides an annual base salary of $425,000, a target annual bonus of 55% of base salary (prorated for fiscal year 2026), and an initial RSU grant with a target value of $4,000,000. The RSUs vest over four years, with 25% vesting at the one-year anniversary and the remainder vesting quarterly thereafter, subject to continued service.

Aug 15, 2025 8-K

Zoom Communications 8-K Report, Shareholder Vote Results (Jun 18, 2025)

Zoom Communications, Inc. (ZM) reported the results of its 2025 Annual Meeting of Stockholders, held June 12, 2025, in this Item 5.07 Current Report. Stockholders voted on three proposals: the election of three Class III directors, the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026, and an advisory vote on the compensation of the named executive officers. All three proposals were approved. Each nominee for Class III director received more votes FOR than WITHHELD, with William R. McDermott receiving 505,611,779 FOR and 26,393,487 WITHHELD, Michael Fenger receiving 514,541,003 FOR and 17,464,263 WITHHELD, and Santiago Subotovsky receiving 432,484,517 FOR and 99,520,749 WITHHELD. Stockholders ratified KPMG LLP with 575,422,363 votes FOR, 1,725,380 AGAINST and 182,319 ABSTAIN. On the advisory say-on-pay proposal, 431,047,023 votes were cast FOR, 100,814,782 AGAINST and 143,461 ABSTAIN, with 45,324,796 broker non-votes. The compensation proposal passed, but the filing reports a substantially larger AGAINST count than was recorded for the other proposals.

Jun 18, 2025 8-K

Other EventsExhibits & Filings

Zoom Communications 8-K Report, Financial Results (May 21, 2025)

Zoom Communications, Inc. (NASDAQ: ZM) filed this Form 8-K under Item 2.02 to furnish a press release reporting its financial results for the first fiscal quarter of 2026, the three months ended April 30, 2025. Total revenue was $1,174.7 million, up 2.9% year over year as reported and 3.4% in constant currency. Enterprise revenue rose 5.9% to $704.7 million, while Online revenue fell 1.2% to $470.0 million. GAAP net income was $254.6 million, or $0.81 per diluted share, up from $0.69 a year earlier, and non-GAAP diluted EPS was $1.43, up from $1.35. GAAP operating margin was 20.6% and non-GAAP operating margin was 39.8%. Cash flow was softer. Net cash provided by operating activities was $489.3 million, compared with $588.2 million a year earlier, and free cash flow was $463.4 million versus $569.7 million. The company repurchased about 5.6 million shares in the quarter, up from 4.3 million in the prior quarter, and cash paid for repurchases of common stock was $418.0 million. Total cash, cash equivalents and marketable securities were $7.8 billion at quarter end, and $1.2 billion of share repurchase authorization remained. For the second quarter of fiscal 2026, Zoom guided to total revenue of $1.195 billion to $1.200 billion and non-GAAP diluted EPS of $1.36 to $1.37. For full fiscal 2026, guidance calls for total revenue of $4.800 billion to $4.810 billion, non-GAAP diluted EPS of $5.56 to $5.59, and free cash flow of $1.680 billion to $1.720 billion. The guidance EPS and share counts exclude any impact from the remaining repurchase authorization.

May 21, 2025 8-K

Zoom Communications 8-K Report, Corporate Update (Apr 25, 2025)

Zoom Communications, Inc. (formerly Zoom Video Communications, Inc.) filed this Form 8-K to disclose the proposed settlement of a consolidated stockholder derivative action pending in the United States District Court for the District of Delaware, captioned In re Zoom Video Communications Inc. Stockholder Derivative Litigation. The stipulation of settlement was entered into on January 14, 2025, and on April 16, 2025, the court preliminarily approved the settlement, which remains subject to final court approval. The filing states that the Company, without admission of wrongdoing or liability, agreed to adopt certain corporate governance reforms and not to oppose plaintiff's counsel's request for a fee award not to exceed $1.35 million. The defendants include current and former officers and directors, and the settlement releases all derivative claims in exchange for dismissal with prejudice of the action. The corporate governance reforms, detailed in Exhibit A to the stipulation, are to remain in effect for no less than three years. They include requirements that at least 75% of Board members be independent under Nasdaq standards, annual director training, enhancements to Audit Committee duties, formalization of the Disclosure Committee, an amended whistleblower policy, a Board-level Cybersecurity Risk Management Committee that meets at least quarterly, and stricter 10b5-1 trading plan guidelines. The stipulation states that the fee and expense amount of $1,350,000 is to be paid by defendants and/or their insurers, not by the Company, and that the independent directors approved it. The filing notes that final approval is subject to a settlement hearing scheduled for July 1, 2025, and that stockholder objections are due by June 17, 2025, according to the notice attached to the stipulation. The settlement is described as resulting in governance changes rather than monetary payments to individual stockholders, and the filing identifies no monetary recovery to the Company itself.

Apr 25, 2025 8-K

Zoom Communications 8-K Report, Executive Changes (Apr 16, 2025)

Zoom Communications, Inc. (ZM) filed a Current Report on Form 8-K under Item 5.02 disclosing a leadership change in its finance organization. Shane Crehan notified the Company on April 11, 2025 that he will resign as Chief Accounting Officer and principal accounting officer, effective May 2, 2025. The filing states that Mr. Crehan has accepted a position at another company and that his decision was not the result of any disagreement with the Company. The Company has begun a search to identify a successor for the Chief Accounting Officer role. Upon Mr. Crehan's departure, Michelle Chang, the Company's Chief Financial Officer, will assume the role of principal accounting officer. Ms. Chang, age 50, was appointed Chief Financial Officer effective October 7, 2024, and her biographical information was previously disclosed in an 8-K filed October 1, 2024. For investors, the filing is a routine executive transition with no stated financial impact. The main points to monitor are the timing of the permanent Chief Accounting Officer hire and whether the CFO's added principal accounting officer responsibilities create any change in the finance function's workload.

Apr 16, 2025 8-K

Earnings & ResultsCorporate Changes

Zoom Communications 8-K Report, Financial Results (Feb 24, 2025)

Zoom Communications, Inc. (NASDAQ: ZM) furnished a press release reporting results for the three months and fiscal year ended January 31, 2025. Total revenue for the fourth quarter was $1,184.1 million, up 3.3% year over year (3.6% in constant currency), and full-year revenue was $4,665.4 million, up 3.1% (3.3% in constant currency). Enterprise revenue grew 5.9% in the quarter to $706.8 million and 5.2% for the year to $2,754.2 million, while Online revenue was down 0.4% in the quarter and up 0.2% for the year to $1,911.2 million. Profitability improved meaningfully. GAAP operating margin was 19.0% in the fourth quarter, up 430 bps, and 17.4% for the full year, up 580 bps, with GAAP income from operations of $813.3 million for fiscal 2025 versus $525.3 million a year earlier. Non-GAAP operating margin was 39.5% in the quarter and 39.4% for the year. Operating cash flow reached $1,945.3 million for the year, up 21.7%, and free cash flow was $1,808.7 million, up 22.9%. The company repurchased approximately 15.9 million shares during the year and had $1.6 billion of repurchase authorization remaining as of January 31, 2025. For fiscal 2026, Zoom guided to total revenue of $4.785 billion to $4.795 billion, non-GAAP income from operations of $1.850 billion to $1.860 billion, non-GAAP diluted EPS of $5.34 to $5.37, and free cash flow of $1.680 billion to $1.720 billion. Beginning in the first quarter of fiscal 2026, the company will stop reporting Enterprise customer count as a metric. The information is furnished under Item 2.02 and is not deemed filed for purposes of Section 18 of the Exchange Act.

Feb 24, 2025 8-K

Zoom Communications 8-K Report, Financial Results (Nov 25, 2024)

Zoom Communications, Inc. (formerly Zoom Video Communications, Inc.) reported results for its third fiscal quarter of 2025, the three months ended October 31, 2024. Total revenue was $1,177.5 million, up 3.6% year over year. Enterprise revenue rose 5.8% to $698.9 million, while Online revenue was flat at $478.7 million. GAAP net income was $207.1 million, or $0.66 per diluted share, compared with $141.2 million, or $0.45 per diluted share, a year earlier. GAAP operating margin was 15.5% and non-GAAP operating margin was 38.9%. Free cash flow was $457.7 million, up 1.0% year over year, and the company ended the quarter with $7.7 billion in cash, cash equivalents, and marketable securities. The board authorized an additional $1.2 billion of share repurchases, bringing the total remaining authorization to approximately $2.0 billion. The company repurchased approximately 4.4 million shares in the quarter. Management guided fourth-quarter fiscal 2025 total revenue to $1.175 billion to $1.180 billion and full-year fiscal 2025 total revenue to $4.656 billion to $4.661 billion. Full-year non-GAAP diluted EPS is expected to be $5.41 to $5.43, and full-year free cash flow $1.580 billion to $1.620 billion. The company also changed its corporate name effective November 25, 2024, with the Class A common stock continuing to trade on Nasdaq under the ticker ZM. The name change did not require a stockholder vote, and the bylaws were amended only to reflect the new name.

Nov 25, 2024 8-K

Leadership ChangesExhibits & Filings

Zoom Communications 8-K Report, Executive Changes (Oct 1, 2024)

Zoom Video Communications, Inc. filed this Current Report on Form 8-K on October 1, 2024 to announce a leadership change in its finance function. The company announced the appointment of Michelle Chang as Chief Financial Officer, effective on or about October 7, 2024 (the "Effective Date"). Kelly Steckelberg will remain CFO until that date and will then transition to an advisory role. Ms. Chang, 50, most recently served as Chief Financial Officer and Corporate Vice President of the Commercial Sales and Partner Organization at Microsoft Corporation from August 2022 until October 2024. She spent over 20 years at Microsoft and previously served as Chief Financial Officer of Modern Workplace and Security from November 2017 to August 2022. She holds a B.A. in Business-Accounting from the University of Washington. Under her Offer Letter, dated September 25, 2024, Ms. Chang receives an annual base salary of $580,000, a target annual bonus equal to 90% of base salary (prorated for fiscal year 2025), and an initial grant of restricted stock units with a target value of $23.6 million. The RSUs vest with 25% on the one-year anniversary of the grant date and 6.25% each quarter thereafter, subject to continued service. She is also eligible for severance and change in control benefits under the company's Severance and Change in Control Plan and has entered into the company's standard indemnification agreement.

Oct 1, 2024 8-K

Earnings & ResultsLeadership ChangesExhibits & Filings

Zoom Communications 8-K Report, Executive Changes (Aug 26, 2024)

Zoom Video Communications, Inc. (ZM) filed this Form 8-K on August 26, 2024 under Item 5.02 to report a board change. Effective August 23, 2024, the Board of Directors increased the authorized size of the Board from nine to 10 directors and appointed Mike Fenger as a Class III director with a term expiring at the Company's 2025 annual meeting of stockholders. Mr. Fenger was also appointed to the Nominating and Corporate Governance Committee. He previously served as Vice President, Worldwide Sales at Apple Inc. since 2019, and earlier held senior positions at General Electric Company and Motorola, Inc. The filing also discloses a related-person arrangement. Mr. Fenger's son, Robert Fenger, has been employed by the Company since 2020, most recently as an Executive Briefing Manager, and is not an executive officer. His total compensation for fiscal year 2024, including equity, was approximately $188,000, and is expected to be approximately $181,000 for fiscal year 2025. The Company states that his compensation was set under its practices for comparable employees and that he is eligible for equity awards on the same general terms as employees in similar positions without family relationships. Mr. Fenger will receive compensation as a board member under the Company's Non-Employee Director Compensation Policy and has entered into the Company's standard indemnification agreement for directors and executive officers. The filing does not report any financial results or changes to executive officers.

Aug 26, 2024 8-K

Zoom Communications 8-K Report, Financial Results (Aug 21, 2024)

Zoom Video Communications, Inc. reported financial results for the three months ended July 31, 2024 (its second fiscal quarter of fiscal year 2025). Total revenue was $1,162.5 million, up 2.1% year over year as reported and 2.4% in constant currency. Enterprise revenue was $682.8 million, up 3.5% year over year, while Online revenue was $479.7 million, flat year over year. GAAP income from operations was $202.4 million (GAAP operating margin of 17.4%), and non-GAAP operating margin was 39.2%. GAAP net income was $219.0 million, or $0.70 per diluted share, and non-GAAP net income per diluted share was $1.39. Operating cash flow was $449.3 million, up 33.7% year over year, and free cash flow was $365.1 million, up 26.2%. Total cash, cash equivalents, and marketable securities were $7.5 billion as of July 31, 2024, and the company repurchased approximately 4.8 million shares during the quarter. The company updated its outlook, guiding third-quarter fiscal 2025 total revenue to between $1.160 billion and $1.165 billion and full-year fiscal 2025 total revenue to between $4.630 billion and $4.640 billion. Full-year non-GAAP diluted EPS is expected to be between $5.29 and $5.32, and full-year free cash flow between $1.580 billion and $1.620 billion. The company noted $1.062 billion of share repurchase authorization remained as of July 31, 2024. Separately, the filing discloses that Chief Financial Officer Kelly Steckelberg notified the company on August 16, 2024 that she intends to resign, with the decision not resulting from any disagreement. Under a Transition and Separation Agreement dated August 21, 2024, she will remain CFO through the release of earnings for the fiscal quarter ending October 31, 2024, and will serve part-time as CFO beginning October 10, 2024. The company has begun a search for her successor.

Aug 21, 2024 8-K

Zoom Communications 8-K Report, Shareholder Vote Results (Jun 18, 2024)

Zoom Video Communications, Inc. (now Zoom Communications, Inc.) reported the results of its 2024 Annual Meeting of Stockholders, held June 13, 2024. Stockholders elected three Class II directors, Jonathan Chadwick, Cindy Hoots, and Dan Scheinman, to serve until the 2027 annual meeting or until their successors are duly elected and qualified. Stockholders also ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2025. Stockholders approved, on an advisory basis, the compensation of the company's named executive officers. The say-on-pay proposal received 419,708,225 votes for, 93,468,494 against, 444,436 abstentions, and 57,037,427 broker non-votes. The filing does not describe any other matters voted on at the meeting. For investors, the filing shows routine governance outcomes: board composition, auditor ratification, and a non-binding endorsement of executive pay. Vote totals for Ms. Hoots show substantially more votes withheld than for the other two director nominees, which investors may wish to note.

Jun 18, 2024 8-K

Zoom Communications 8-K Report, Financial Results (May 20, 2024)

Zoom Video Communications, Inc. filed this Form 8-K under Item 2.02 (Results of Operations and Financial Condition) to furnish a press release, Exhibit 99.1, announcing financial results for the three months ended April 30, 2024 (first quarter of fiscal year 2025). Total revenue was $1,141.2 million, up 3.2% year over year as reported and 3.5% in constant currency. Enterprise revenue was $665.7 million, up 5.3%, while Online revenue was $475.5 million, flat year over year. GAAP income from operations was $203.0 million (GAAP operating margin of 17.8%), compared with $9.7 million a year earlier, and non-GAAP operating margin was 40.0%. GAAP net income was $216.3 million, or $0.69 per diluted share, versus $15.4 million, or $0.05, in the prior-year quarter. Cash generation was strong. Net cash provided by operating activities was $588.2 million, up 40.6% year over year, and free cash flow was $569.7 million, up 43.6%. Total cash, cash equivalents, and marketable securities were $7.4 billion as of April 30, 2024. The company repurchased approximately 2.4 million shares during the quarter, and $1.350 billion of share repurchase authorization remained as of April 30, 2024. Management guided to second-quarter fiscal 2025 total revenue of $1.145 billion to $1.150 billion and non-GAAP diluted EPS of $1.20 to $1.21. For full fiscal 2025, guidance calls for total revenue of $4.610 billion to $4.620 billion and non-GAAP diluted EPS of $4.99 to $5.02. Operating metrics included 3,883 customers contributing more than $100,000 in trailing 12-month revenue, up approximately 8.5%, and approximately 191,000 Enterprise customers after about 26,800 lower-MRR customers were reclassified to Online as of April 30, 2024. The trailing 12-month Enterprise net dollar expansion rate was 99%, and Online average monthly churn was 3.2%, up 10 bps.

May 20, 2024 8-K

Zoom Communications 8-K Report, Financial Results (Feb 26, 2024)

Zoom Video Communications, Inc. filed this Form 8-K on February 26, 2024 to furnish Exhibit 99.1, a press release reporting results for the three months and fiscal year ended January 31, 2024. Fourth-quarter total revenue was $1,146.5 million, up 2.6% year over year (2.7% in constant currency), with Enterprise revenue of $667.3 million, up 4.9%, and Online revenue of $479.2 million, down 0.5%. GAAP income from operations for the quarter was $168.5 million, versus a GAAP loss of $(129.9) million a year earlier, and GAAP net income attributable to common stockholders was $298.8 million, or $0.95 per diluted share. Non-GAAP net income was $444.0 million, or $1.42 per diluted share. For the full fiscal year, total revenue was $4,527.2 million, up 3.1% (3.8% in constant currency), with Enterprise revenue up 8.7% to $2,619.3 million and Online revenue down 3.8% to $1,907.9 million. Net cash provided by operating activities was $1,598.8 million, up 23.9%, and free cash flow was $1,471.9 million, up 24.1%, representing a free cash flow margin of 32.5%. Cash and marketable securities totaled $7.0 billion as of January 31, 2024. The company also announced guidance for the first quarter and full fiscal year 2025, including expected full-year revenue of approximately $4.600 billion and free cash flow between $1.440 billion and $1.480 billion. The Board authorized a stock repurchase program of up to $1.5 billion of Class A common stock, funded from working capital and without obligation to repurchase any particular amount.

Feb 26, 2024 8-K

Zoom Communications 8-K Report, Financial Results (Nov 20, 2023)

Zoom Video Communications, Inc. reported financial results for the third quarter of fiscal year 2024, the three months ended October 31, 2023, in a press release furnished as Exhibit 99.1 to this Form 8-K. Total revenue was $1,136.7 million, up 3.2% year over year as reported and 3.5% in constant currency. Enterprise revenue was $660.6 million, up 7.5% year over year, while Online revenue was $476.1 million, down 2.4% year over year. GAAP income from operations was $169.4 million, with a GAAP operating margin of 14.9%, compared with $66.5 million a year earlier, and non-GAAP operating margin was 39.3%. GAAP net income attributable to common stockholders was $141.2 million, or $0.45 per diluted share, and non-GAAP net income per diluted share was $1.29. Cash generation was a notable highlight. Operating cash flow was $493.2 million, up 67.0% year over year, and free cash flow was $453.2 million, up 66.2%. Total cash, cash equivalents and marketable securities were $6.5 billion as of October 31, 2023. Customer metrics showed 219,700 Enterprise customers, up 5.0% year over year, a trailing 12-month Enterprise net dollar expansion rate of 105%, and 3,731 customers contributing more than $100,000 in trailing 12-month revenue, up approximately 13.5%. Online average monthly churn was 3.0%, down 10 bps. Management raised its full fiscal year 2024 outlook for revenue and non-GAAP profitability as well as free cash flow, which is now expected to be between $1.34 billion and $1.35 billion. Full-year total revenue is guided to $4.506 billion to $4.511 billion, and fourth-quarter total revenue to $1.125 billion to $1.130 billion.

Nov 20, 2023 8-K

Zoom Communications 8-K Report, Financial Results (Aug 21, 2023)

Zoom Video Communications, Inc. reported financial results for the second quarter of fiscal year 2024, the three months ended July 31, 2023, in a press release furnished as Exhibit 99.1 to this Item 2.02 report. Total revenue was $1,138.7 million, up 3.6% year over year as reported and 4.5% in constant currency. Enterprise revenue rose 10.2% to $659.5 million, while Online revenue declined 4.3% to $479.2 million. GAAP net income attributable to common stockholders was $182.0 million, or $0.59 per diluted share, compared with $0.15 per share a year earlier. Non-GAAP diluted EPS was $1.34, up from $1.05, and non-GAAP operating margin was 40.5%, compared with 35.8% in the prior-year quarter. Cash generation was a notable strength in the quarter. Operating cash flow was $336.0 million, up 30.6% year over year, and free cash flow was $289.4 million, up 26.2%. Total cash, cash equivalents and marketable securities were $6.0 billion as of July 31, 2023. Customer metrics showed approximately 218,100 Enterprise customers, up 6.9%, and 3,672 customers contributing more than $100,000 in trailing 12-month revenue, up approximately 17.8%. Online average monthly churn was 3.2%, down 40 bps. For the third quarter of fiscal 2024, Zoom guided to total revenue of $1.115 billion to $1.120 billion and non-GAAP diluted EPS of $1.07 to $1.09. For full fiscal 2024, it guided to total revenue of $4.485 billion to $4.495 billion and non-GAAP diluted EPS of $4.63 to $4.67. The filing also notes that a webcast with investors was scheduled for August 21, 2023.

Aug 21, 2023 8-K

Other Events

Zoom Communications 8-K Report, Corporate Update (Jul 21, 2023)

Zoom Video Communications, Inc. filed this Form 8-K on July 21, 2023 to disclose a proposed settlement of the consolidated securities class action pending in the United States District Court for the Northern District of California, captioned In re Zoom Securities Litigation. The class covers purchasers and/or acquirers of Zoom's securities from April 18, 2019 through April 6, 2020. On July 17, 2023, the parties entered into a Stipulation and Agreement of Settlement under which Zoom has agreed to pay, and/or cause its insurance carriers to pay, a total of $150.0 million in exchange for the release and dismissal with prejudice of all claims against all defendants. The settlement does not constitute an admission of fault or wrongdoing by Zoom or the individual defendants. Zoom stated that it accrued $60 million related to the Securities Class Action in its Form 10-Q for the three months ended April 30, 2023, and does not expect the stipulation to have a material impact on its condensed consolidated statement of operations for the three months ended July 31, 2023. Counsel for lead plaintiffs will soon file a motion seeking preliminary approval of the settlement and the form of class notice. The settlement remains subject to preliminary and final approval by the court and certain other conditions. The settlement does not resolve the consolidated shareholder derivative action pending in the United States District Court for the District of Delaware, which names certain current officers and certain current and former Board members as defendants. Investors should note that the settlement is not final until court approval and satisfaction of conditions, and that the filing's forward-looking statements flag risks including objections, appeals, opt-outs by individual claimants, and the sufficiency of Zoom's cash resources.

Jul 21, 2023 8-K

Zoom Communications 8-K Report, Shareholder Vote Results (Jun 21, 2023)

Zoom Video Communications, Inc. (now Zoom Communications, Inc.) reported the final results of its 2023 Annual Meeting of Stockholders, held on June 15, 2023. Stockholders voted on three proposals: the election of Class I directors, the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2024, and an advisory vote on the compensation of the named executive officers. All three director nominees were elected to serve until the 2026 annual meeting. Eric S. Yuan received 556,286,589 votes for and 11,438,837 withheld, Peter Gassner received 558,975,087 for and 8,750,339 withheld, and Lieut. Gen. H.R. McMaster received 509,427,748 for and 58,297,678 withheld. KPMG LLP's ratification was approved with 624,238,580 votes for, 525,214 against and 454,863 abstentions. Each director nominee and the auditor ratification received the 57,493,231 broker non-votes shown for the director elections. On the advisory say-on-pay proposal, stockholders voted 360,568,205 in favor and 206,835,888 against, with 321,333 abstentions and 57,493,231 broker non-votes. Stockholders therefore advised that they were in favor of the named executive officers' compensation, though the against count was substantial.

Jun 21, 2023 8-K

Zoom Communications 8-K Report, Financial Results (May 22, 2023)

Zoom Video Communications, Inc. filed this Form 8-K under Item 2.02 (Results of Operations and Financial Condition) on May 22, 2023, to furnish a press release announcing financial results for the three months ended April 30, 2023, its first fiscal quarter of fiscal year 2024. Total revenue was $1,105.4 million, up 3% year over year as reported and up 5% in constant currency. Enterprise revenue was $632.0 million, up 13% year over year, while Online revenue was $473.4 million, down 8% year over year. GAAP income from operations was $9.7 million, compared with $187.1 million in the prior-year quarter, and GAAP net income attributable to common stockholders was $15.4 million, or $0.05 per diluted share. Non-GAAP income from operations was $422.3 million, a 38.2% non-GAAP operating margin, and non-GAAP diluted EPS was $1.16. The quarter included restructuring expenses of $73.2 million and litigation settlements, net, of $52.5 million, which are excluded from non-GAAP results. Cash flow and balance sheet metrics were solid. Net cash provided by operating activities was $418.5 million and free cash flow was $396.7 million, compared with $526.2 million and $501.1 million a year earlier. Total cash, cash equivalents and marketable securities, excluding restricted cash, were $5.6 billion as of April 30, 2023. Enterprise customers numbered approximately 215,900, up 9%, and customers contributing more than $100,000 in trailing 12-month revenue rose approximately 23% to 3,580. Management raised its fiscal year 2024 outlook. Full-year total revenue is now expected between $4.465 billion and $4.485 billion, and full-year non-GAAP diluted EPS between $4.25 and $4.31. For the second quarter, total revenue is expected between $1.110 billion and $1.115 billion, with non-GAAP diluted EPS between $1.04 and $1.06.

May 22, 2023 8-K

Zoom Communications 8-K Report, Executive Changes (Mar 2, 2023)

Zoom Video Communications, Inc. filed this Current Report on Form 8-K dated March 2, 2023 (event date February 28, 2023) to disclose a single personnel change. On February 28, 2023, the Company terminated the employment of Greg Tomb as its President, effective March 3, 2023. The filing states that Mr. Tomb will receive severance benefits payable under his previously disclosed employment arrangements, which apply upon a termination without cause. The filing does not state the reason for the termination, nor does it name a successor or describe any change to the Company's financial results, guidance, or operations. It was signed by Aparna Bawa, Chief Operating Officer. Investors should note that the report's disclosure is limited to the departure and its contractual severance terms.

Mar 2, 2023 8-K

Leadership ChangesFinancial EventsRegulation FD+1

Zoom Communications 8-K Report, Financial Results (Feb 27, 2023)

Zoom Video Communications, Inc. reported financial results for the fourth quarter and fiscal year ended January 31, 2023 in a press release furnished as Exhibit 99.1 to this Form 8-K. Fourth-quarter total revenue was $1,117.8 million, up 4% year over year as reported and 6% in constant currency. Enterprise revenue was $636.1 million, up 18%, while Online revenue was $481.7 million, down 10%. GAAP results were weaker: the company posted a GAAP loss from operations of $(129.9) million and a GAAP net loss attributable to common stockholders of $(104.1) million, or $(0.36) per share, which the filing attributes to additional stock-based compensation from a change to its supplemental equity grant program. Non-GAAP income from operations was $404.8 million, compared with $420.3 million a year earlier. For the full fiscal year 2023, total revenue was $4,393.0 million, up 7% as reported and 9% in constant currency. Enterprise revenue was $2,409.3 million, up 24%, and Online revenue was $1,983.6 million, down 8%. GAAP net income attributable to common stockholders was $103.7 million, or $0.34 per share, versus $1,375.1 million in fiscal 2022. Non-GAAP net income was $1,329.0 million, or $4.37 per diluted share. Operating cash flow was $1,290.3 million and free cash flow was $1,186.4 million, with total cash, cash equivalents and marketable securities of $5,412.7 million at year end. Management cited customer growth and expansion as key drivers, including approximately 213,000 Enterprise customers (up 12%), a trailing 12-month net dollar expansion rate of 115% for Enterprise customers, and 3,471 customers contributing more than $100,000 in trailing 12-month revenue (up approximately 27%). The company guided first-quarter fiscal 2024 total revenue to $1.080 billion to $1.085 billion and full-year fiscal 2024 total revenue to $4.435 billion to $4.455 billion, with full-year non-GAAP diluted EPS of $4.11 to $4.18.

Feb 27, 2023 8-K

Zoom Communications 8-K Report, Exit or Disposal Costs (Feb 7, 2023)

On February 7, 2023, Zoom Video Communications, Inc. announced a restructuring plan intended to reduce operating costs and continue its commitment to profitable growth. The plan includes reducing the current workforce by approximately 15 percent. The Company estimates it will incur approximately $50 million to $68 million in charges, substantially in the first quarter of fiscal 2024, primarily related to employee transition, severance payments, employee benefits, and stock-based compensation. Of that total, approximately $43 million to $59 million is expected to be future cash expenditures. In connection with the Plan, the Company temporarily reduced base salaries of its executive officers by 20% for fiscal 2024, and reduced the base salary of founder and CEO Eric S. Yuan by 98% to $10,000 for fiscal 2024. The Compensation Committee may review, change or end this temporary salary reduction program. A message from Mr. Yuan to employees, furnished as Exhibit 99.1, states that approximately 1,300 employees are being let go and describes support offered to departing U.S. employees, including up to 16 weeks' salary and healthcare coverage, payment of earned FY'23 annual bonus, and six months of RSU and stock option vesting. The Company cautions that the estimated charges and timing are subject to assumptions, including local law requirements, and actual amounts may differ materially. Risks cited include restructuring costs exceeding estimates, effects on internal programs, talent retention, customer relationships, and the plan failing to deliver intended benefits as quickly as anticipated.

Feb 7, 2023 8-K

Securities & Listing

Zoom Communications 8-K Report, Listing Notice (Jan 26, 2023)

Zoom Video Communications, Inc. filed this Current Report on Form 8-K under Item 3.01 to disclose a Nasdaq listing-rule matter. On January 20, 2023, the Company notified The Nasdaq Stock Market LLC that, following Carl Eschenbach's resignation from the Board of Directors (previously disclosed in a Form 8-K filed January 13, 2023), it no longer met Nasdaq Listing Rule 5605(c)(2)(A), which requires the Audit Committee to have a minimum of three independent directors. The Company stated it is entitled to a cure period under Nasdaq Listing Rule 5605(c)(4)(B) to regain compliance. On January 24, 2023, the Board appointed Cindy L. Hoots, an existing Board member, to the Audit Committee. The Company states that, as of the filing date, it is in compliance with the Audit Committee composition requirements of Nasdaq Listing Rule 5605(c)(2)(A). For investors, the filing is a governance and compliance update rather than a financial disclosure. It contains no financial results, guidance, or financial figures, and it reports that the listing-rule deficiency was resolved within days of its occurrence.

Jan 26, 2023 8-K

Zoom Communications 8-K Report, Executive Changes (Jan 13, 2023)

Zoom Video Communications, Inc. filed this Current Report on Form 8-K, dated January 13, 2023 and reporting an event of January 11, 2023, to disclose a change in its Board of Directors. The filing is limited to Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers). The sole disclosed event is the resignation of Carl Eschenbach, a director of the company, who notified the Board on January 11, 2023 of his decision to resign from his Board position, effective immediately. The filing states that Mr. Eschenbach's resignation did not result from any disagreements with the company on any matter relating to its operations, policies or practices. The filing does not name a replacement director or announce any other officer or compensation changes. For investors, this is a governance notice rather than a financial disclosure. The filing contains no financial results, guidance, or operating metrics. Its key points are the immediate effectiveness of the departure and the statement that no disagreement with management was involved.

Jan 13, 2023 8-K

Zoom Communications 8-K Report, Executive Changes (Jan 5, 2023)

Zoom Video Communications, Inc. (ZM) filed this Form 8-K under Item 5.02 to report that its Board of Directors elected Cindy L. Hoots as a director on January 4, 2023, effective January 5, 2023. Ms. Hoots was elected as a Class II director with a term expiring at the Company's 2024 annual meeting of stockholders, and she will also serve on the Board's Cybersecurity Risk Management Committee. Ms. Hoots currently serves as Chief Digital Officer and Chief Information Officer at AstraZeneca PLC, a position she has held since January 2020. Her prior roles include Global Vice President of Technology at Unilever PLC from January 2018 to December 2019 and Vice President of Next Generation Products, Commercial and Digital Transformation at British American Tobacco plc from 2016 to 2018. The filing states there is no arrangement or understanding between Ms. Hoots and any other persons regarding her election, and she has no direct or indirect material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K. She will enter the Company's standard indemnification agreement and will be compensated under the Company's Non-Employee Director Compensation Policy.

Jan 5, 2023 8-K

Zoom Communications 8-K Report, Financial Results (Nov 21, 2022)

Zoom Video Communications, Inc. furnished an 8-K on November 21, 2022 under Item 2.02 (Results of Operations and Financial Condition) attaching a press release reporting financial results for the third fiscal quarter ended October 31, 2022. Total revenue was $1,101.9 million, up 5% year over year as reported and up 7% in constant currency, with Enterprise revenue of $614.3 million, up 20% year over year, while Online revenue was $487.6 million, down 9%. GAAP income from operations was $66.5 million (6.0% GAAP operating margin), compared with $290.9 million a year earlier, while non-GAAP income from operations was $380.9 million (34.6% non-GAAP operating margin). GAAP net income attributable to common stockholders was $48.4 million, or $0.16 per diluted share, versus $340.3 million, or $1.11 per share, in the prior-year quarter; non-GAAP net income per diluted share was $1.07. Cash flow and balance sheet items were also reported. Net cash provided by operating activities was $295.3 million and free cash flow was $272.6 million, compared with $374.8 million a year earlier. Total cash, cash equivalents and marketable securities, excluding restricted cash, were $5.2 billion as of October 31, 2022. Company repurchases of common stock totaled $564.8 million in the quarter, and nine-month repurchases were $990.8 million. Enterprise customers reached approximately 209,300, up 14%, the trailing 12-month net dollar expansion rate for Enterprise customers was 117%, and customers contributing more than $100,000 in trailing 12-month revenue numbered 3,286, up approximately 31%. For guidance, the company expects fourth-quarter fiscal 2023 total revenue between $1.095 billion and $1.105 billion and non-GAAP diluted EPS between $0.75 and $0.78. For full fiscal 2023, it expects total revenue between $4.370 billion and $4.380 billion, non-GAAP income from operations between $1.490 billion and $1.500 billion, and non-GAAP diluted EPS between $3.91 and $3.94. The free cash flow outlook of $1 billion to $1.15 billion assumes that Section 174 R&D capitalization rules are repealed or deferred by Congress by fiscal year-end.

Nov 21, 2022 8-K

Zoom Communications 8-K Report, Financial Results (Aug 22, 2022)

Zoom Video Communications, Inc. furnished an 8-K on August 22, 2022 announcing financial results for the three months ended July 31, 2022 (fiscal Q2 2023) via press release Exhibit 99.1. Total revenue was $1,099.5 million, up 8% year over year. GAAP income from operations was $121.7 million (GAAP operating margin of 11.1%), compared with $294.6 million in the prior-year quarter, while non-GAAP income from operations was $393.7 million (non-GAAP operating margin of 35.8%), versus $424.7 million a year earlier. GAAP net income attributable to common stockholders was $45.7 million, or $0.15 per diluted share, compared with $316.9 million, or $1.04 per share, in the prior-year quarter. Non-GAAP net income was $323.5 million, or $1.05 per diluted share. Cash flow and balance sheet metrics declined year over year. Net cash provided by operating activities was $257.2 million, compared with $468.0 million, and adjusted free cash flow was $222.1 million, compared with $455.0 million. Total cash, cash equivalents and marketable securities, excluding restricted cash, were $5.5 billion as of July 31, 2022. The company also repurchased $293.5 million of common stock in the quarter, according to the cash flow statement. Enterprise customers grew to approximately 204,100, up 18%, and customers contributing more than $100,000 in trailing 12-month revenue rose to 3,116, up approximately 37%. Management lowered its full fiscal year 2023 revenue outlook to $4.385 billion to $4.395 billion, citing the strengthening U.S. dollar, weaker online business performance and, to a lesser extent, sales weighted to the end of the quarter. Non-GAAP operating margin guidance for the year remains approximately 33%, and full-year non-GAAP diluted EPS is expected between $3.66 and $3.69. Third-quarter revenue guidance is $1.095 billion to $1.100 billion.

Aug 22, 2022 8-K

Zoom Communications 8-K Report, Shareholder Vote Results (Jun 22, 2022)

Zoom Video Communications, Inc. (now Zoom Communications, Inc.) filed this Form 8-K to report the results of its 2022 Annual Meeting of Stockholders, held on June 16, 2022. Stockholders elected Carl M. Eschenbach, William R. McDermott, Janet Napolitano, and Santiago Subotovsky as Class III directors to serve until the 2025 annual meeting. The filing does not describe any change to the company's financial results, guidance, or operations. Stockholders also ratified KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending January 31, 2023. In a non-binding advisory vote, stockholders approved the compensation of the company's named executive officers. The largest vote tallies were for the director elections and the auditor ratification, with 646,037,969 votes for KPMG against 373,088 against. For investors, the filing is primarily a governance record. It shows broad support for the board nominees and the auditor, while the director votes also recorded withheld votes and broker non-votes, and the executive compensation vote recorded 5,084,312 votes against.

Jun 22, 2022 8-K

Zoom Communications 8-K Report, Executive Changes (Jun 6, 2022)

Zoom Video Communications, Inc. (now Zoom Communications, Inc.) filed this Current Report on Form 8-K on June 6, 2022 under Item 5.02, disclosing a leadership appointment and related executive officer changes. Greg Tomb accepted an offer to join the company as President, effective June 7, 2022. Mr. Tomb, age 57, previously served as Vice President of Workspace, Geo and Security Sales at Google Cloud from April 2021 until June 2022, and before that spent years at SAP, most recently as President of SAP Cloud Sales and GTM. Under his offer letter, Mr. Tomb receives a base salary of $400,000 per year, a target annual bonus of 8% of base salary, and a restricted stock unit grant with a target grant date value of $45,000,000. The RSUs vest over four years, with 3.125% vesting twice per fiscal quarter on the company's regular quarterly vesting dates, subject to continued service. The offer letter also includes severance protections: if he is involuntarily terminated during the period from three months before to 12 months after a change in control, all outstanding equity awards fully vest, and he receives a lump-sum payment equal to six months of base salary plus six months of COBRA premiums. An involuntary termination outside that period accelerates vesting for awards scheduled to vest in the following 12 months. In connection with the appointment, the board determined on June 6, 2022 that Ryan Azus and Janine Pelosi, who will report to Mr. Tomb, will no longer be designated executive officers under the Exchange Act, effective as of Mr. Tomb's appointment. The filing states their titles, duties, and responsibilities are unaffected. The filing also notes Mr. Tomb has no material interest in any related-party transaction requiring disclosure under Item 404(a) and has signed the company's standard indemnification agreement.

Jun 6, 2022 8-K

Zoom Communications 8-K Report, Financial Results (May 23, 2022)

Zoom Video Communications, Inc. filed this Form 8-K under Item 2.02 (Results of Operations and Financial Condition) to furnish a press release announcing financial results for the three months ended April 30, 2022. The filing states that the information is furnished and not deemed "filed" under Section 18 of the Securities Exchange Act of 1934. The press release reports first-quarter total revenue of $1,073.8 million, up 12% year over year, from $956.2 million in the prior-year quarter. GAAP income from operations was $187.1 million (GAAP operating margin of 17.4%), compared with $226.3 million a year earlier, while non-GAAP income from operations was $399.6 million (non-GAAP operating margin of 37.2%), compared with $400.9 million. GAAP net income attributable to common stockholders was $113.6 million, or $0.37 per diluted share, versus $227.4 million, or $0.74 per share, in the prior-year quarter; non-GAAP net income per diluted share was $1.03 versus $1.32. Cash generation remained strong. Net cash provided by operating activities was $526.2 million, and free cash flow was $501.1 million. Total cash, cash equivalents, and marketable securities, excluding restricted cash, were $5.7 billion as of April 30, 2022. The company also repurchased common stock for $132.4 million during the quarter, as shown in the cash flow statement. Losses on strategic investments, net, were $36.4 million, which reduced GAAP pre-tax income. Management issued guidance for the second quarter and full fiscal year 2023. Second-quarter total revenue is expected to be $1.115 billion to $1.120 billion, and full-year fiscal 2023 total revenue is expected to be $4.530 billion to $4.550 billion. Full-year non-GAAP diluted EPS is expected to be $3.70 to $3.77. The press release also reports 198,900 Enterprise customers, up 24% year over year, and 2,916 customers contributing more than $100,000 in trailing 12-month revenue, up approximately 46%.

May 23, 2022 8-K/A

Zoom Communications 8-K/A Report, Executive Changes (May 23, 2022)

Zoom Video Communications, Inc. filed this Current Report on Form 8-K/A on May 23, 2022 to amend its earlier Form 8-K filed February 28, 2022. The amendment discloses a board governance update: William R. McDermott, who the Board appointed as a Class III director effective March 1, 2022, was appointed on May 20, 2022 to serve on the Compensation Committee of the Board. The filing states that committee assignments had not been determined when the Initial Form 8-K was filed. The filing is limited to Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers). It does not report any financial results, financial figures, or operational metrics, and it does not describe compensation terms for Mr. McDermott. For investors, the main takeaway is a governance detail: a newly seated director has taken a seat on the Compensation Committee, which oversees executive pay. The filing itself does not address the strategic or financial implications of this change.

May 23, 2022 8-K

Zoom Communications 8-K Report, Executive Changes (Feb 28, 2022)

On February 23, 2022, Zoom Video Communications, Inc. (now Zoom Communications, Inc.) reported that its Board of Directors elected William R. McDermott as a Class III director, effective March 1, 2022, with his term expiring at the Company's 2022 annual meeting of stockholders. Mr. McDermott is not expected to join any Board committees at this time. He currently serves as Chief Executive Officer and a board member of ServiceNow, Inc., and previously held senior leadership roles at SAP SE, including sole Chief Executive Officer from 2014 until October 2019, as well as roles at Siebel Systems and Gartner, Inc. Under the Company's Non-Employee Director Compensation Policy, as amended in February 2022, Mr. McDermott will receive an initial grant of 476 restricted stock units, which will vest in full on the day immediately preceding Zoom's 2022 annual meeting of stockholders. He will also enter into the Company's standard indemnification agreement with directors and executive officers. The filing states he has no material interest in any related-party transaction under Item 404(a) of Regulation S-K. The same day, director Bart Swanson notified the Board of his resignation, effective immediately prior to Mr. McDermott's appointment. The filing states that Mr. Swanson's resignation did not result from any disagreement with the Company on its operations, policies or practices. Following the appointment, the Board size remains at ten directors.

Feb 28, 2022 8-K

Zoom Communications 8-K Report, Financial Results (Feb 28, 2022)

Zoom Video Communications, Inc. furnished a press release under Item 2.02 reporting results for the three months and fiscal year ended January 31, 2022. Fourth-quarter total revenue was $1,071.4 million, up 21% year over year, while GAAP income from operations was $251.8 million, down 2% year over year. Full-year total revenue was $4,099.9 million, up 55% year over year, and full-year GAAP income from operations was $1,063.6 million, up 61% year over year. Fourth-quarter GAAP net income attributable to common stockholders was $490.5 million, or $1.60 per diluted share, which includes a tax benefit from discrete activities; non-GAAP net income per diluted share was $1.29. Net cash provided by operating activities for the full year was $1,605.3 million, and total cash, cash equivalents and marketable securities stood at $5,419.3 million at January 31, 2022. The company provided fiscal 2023 guidance, calling for total revenue of $4.530 billion to $4.550 billion and non-GAAP income from operations of $1.430 billion to $1.450 billion, with non-GAAP diluted EPS of $3.45 to $3.51. It also authorized a stock repurchase program of up to $1.0 billion of Class A common stock, expiring in February 2024, funded from working capital. Management is changing its disclosed customer metrics: beginning in fiscal 2023 it will stop reporting customers with more than 10 employees and their net dollar expansion rate, and will instead report Enterprise customers (approximately 191,000, up 35% year over year, with a 130% trailing 12-month net dollar expansion rate) alongside customers contributing more than $100,000 in trailing 12-month revenue (2,725, up approximately 66% year over year). The filing states that the press release, Exhibit 99.1, is furnished rather than filed under Section 18 of the Exchange Act. The company also noted that a webinar for investors would be held on February 28, 2022 to discuss the results and outlook.

Feb 28, 2022 8-K

Material AgreementsRegulation FDExhibits & Filings

Zoom Communications 8-K Report, Financial Results (Nov 22, 2021)

Zoom Video Communications, Inc. reported third-quarter fiscal 2022 results for the three months ended October 31, 2021, furnished under Item 2.02 via press release (Exhibit 99.1). Total revenue was $1,050.8 million, up 35% year over year. GAAP income from operations was $290.9 million, versus $192.2 million a year earlier, and non-GAAP income from operations was $411.3 million. GAAP operating margin was 27.7% and non-GAAP operating margin was 39.1%. GAAP net income attributable to common stockholders was $340.3 million, or $1.11 per diluted share, compared with $0.66 per share in the prior-year quarter. The filing notes that gains on strategic investments of $122.4 million were excluded from non-GAAP net income, which was $338.4 million. Customer metrics were strong. The number of customers contributing more than $100,000 in trailing 12-month revenue reached 2,507, up approximately 94% year over year. Customers with more than 10 employees totaled approximately 512,100, up approximately 18%, and the trailing 12-month net dollar expansion rate for those customers was above 130% for the 14th consecutive quarter. Cash, cash equivalents, and marketable securities totaled $5.4 billion as of October 31, 2021. Operating cash flow for the quarter was $394.6 million, compared with $411.5 million a year earlier, and free cash flow was $374.8 million, compared with $388.2 million. Management guided fourth-quarter fiscal 2022 total revenue to $1.051 billion to $1.053 billion and full-year fiscal 2022 total revenue to $4.079 billion to $4.081 billion. Full-year non-GAAP income from operations is expected to be $1.598 billion to $1.600 billion, and non-GAAP diluted EPS is expected to be $4.84 to $4.85. The CEO stated that full-year revenue growth is expected to be approximately 54%.

Nov 22, 2021 8-K

Zoom Communications 8-K Report, Agreement Terminated (Oct 1, 2021)

Zoom Video Communications, Inc. (NASDAQ: ZM) reported in this Form 8-K, filed October 1, 2021, that it has terminated its Agreement and Plan of Merger with Five9, Inc., dated July 16, 2021. The termination followed a September 30, 2021 special meeting of Five9 stockholders at which the proposal to adopt the merger agreement was not approved by holders of a majority of Five9's outstanding common stock. Under the filing, Zoom and Five9 mutually terminated the agreement, and each had the ability to do so once the stockholder vote failed. In the accompanying press release (Exhibit 99.1), CEO Eric S. Yuan said financial discipline is foundational to Zoom's strategy and that the contact center market remains a strategic priority. He stated that Zoom is building its own cloud-based contact center offering, the Zoom Video Engagement Center, which was announced at Zoomtopia and will launch in early 2022. Zoom also plans to maintain its existing contact center partnerships with companies including Five9, Genesys, NICE inContact, Talkdesk, and Twilio. For investors, the key takeaway is that the proposed acquisition of Five9 will not proceed, and Zoom's contact center strategy will rely on an internally built product rather than the Five9 combination. The filing does not disclose any termination fee or financial terms of the terminated deal beyond the fact of termination.

Oct 1, 2021 8-K/A

Zoom Communications 8-K/A Report, Financial Results (Aug 31, 2021)

This Form 8-K/A from Zoom Video Communications, Inc. (now Zoom Communications, Inc.) furnishes an updated press release reporting results for the second fiscal quarter of 2022, ended July 31, 2021. The amendment adds the "Amortization on marketable securities" line to the condensed consolidated statements of cash flows, which the filing says was inadvertently omitted from the August 30, 2021 original release. It also adds Exhibit 104 to the exhibit index. The company states that no other changes were made. Quarterly revenue was $1,021.5 million, up 54% year over year, and the company said it achieved its first billion-dollar revenue quarter. GAAP income from operations was $294.6 million, a GAAP operating margin of 28.8%, and non-GAAP income from operations was $424.7 million, a non-GAAP operating margin of 41.6%. GAAP net income attributable to common stockholders was $316.9 million, or $1.04 per diluted share, and non-GAAP diluted EPS was $1.36. Net cash provided by operating activities was $468.0 million, and free cash flow was $455.0 million. Total cash, cash equivalents, and marketable securities, excluding restricted cash, were $5.1 billion as of July 31, 2021. The company guided fiscal third-quarter 2022 total revenue to $1.015 billion to $1.020 billion and non-GAAP diluted EPS to $1.07 to $1.08. For full fiscal 2022, it guided total revenue to $4.005 billion to $4.015 billion and non-GAAP diluted EPS to $4.75 to $4.79. The company also reported 2,278 customers contributing more than $100,000 in trailing 12-month revenue, up approximately 131% year over year, and about 504,900 customers with more than 10 employees, up approximately 36%.

Aug 31, 2021 8-K

Material AgreementsOther EventsExhibits & Filings

Zoom Communications 8-K Report, Financial Results (Aug 30, 2021)

Zoom Video Communications, Inc. reported financial results for the second fiscal quarter ended July 31, 2021, in a press release furnished as Exhibit 99.1 to this Form 8-K dated August 30, 2021. Total revenue was $1,021.5 million, up 54% year over year, and the company described it as its first billion-dollar revenue quarter. GAAP income from operations was $294.6 million (GAAP operating margin of 28.8%), and non-GAAP income from operations was $424.7 million (non-GAAP operating margin of 41.6%). GAAP net income attributable to common stockholders was $316.9 million, or $1.04 per diluted share, compared with $185.7 million, or $0.63 per diluted share, a year earlier. Non-GAAP net income was $415.1 million, or $1.36 per diluted share. Cash flow and balance sheet metrics were strong. Net cash provided by operating activities was $468.0 million for the quarter, and free cash flow was $455.0 million. Total cash, cash equivalents, and marketable securities, excluding restricted cash, were $5.1 billion as of July 31, 2021. Customer metrics also grew: 2,278 customers contributed more than $100,000 in trailing 12-month revenue, up approximately 131% year over year, and approximately 504,900 customers had more than 10 employees, up approximately 36%. The trailing 12-month net dollar expansion rate for customers with more than 10 employees has remained above 130% for 13 consecutive quarters. Management guided fiscal year 2022 total revenue to between $4.005 billion and $4.015 billion, with non-GAAP income from operations of $1.500 billion to $1.510 billion and non-GAAP diluted EPS of $4.75 to $4.79 on approximately 308 million non-GAAP weighted average shares. For the third quarter of fiscal 2022, guidance calls for revenue of $1.015 billion to $1.020 billion and non-GAAP diluted EPS of $1.07 to $1.08.

Aug 30, 2021 8-K

Zoom Communications 8-K Report, Material Agreement (Jul 19, 2021)

Zoom Video Communications, Inc. entered into a Merger Agreement dated July 16, 2021 with Five9, Inc. and Summer Merger Sub, Inc., its wholly owned subsidiary. Under the agreement, Merger Sub will merge into Five9, which will survive as a wholly owned subsidiary of Zoom. Each Five9 common share (other than those held by Zoom, Five9 or their subsidiaries) will be converted into the right to receive 0.5533 shares of Zoom Class A common stock, with cash in lieu of fractional shares. The transaction is intended to qualify as a tax-free reorganization. The boards of both companies have approved the merger, and the Five9 board recommends that its stockholders approve it. Closing is subject to conditions including approval by a majority of Five9's outstanding shares, Nasdaq listing of the Zoom shares, effectiveness of a Form S-4 registration statement, Hart-Scott-Rodino clearance and other antitrust and telecommunications approvals, and the absence of a material adverse effect on Five9. Five9 agreed not to solicit alternative business combinations. If the merger is not completed by January 16, 2022, either party may terminate, subject to extensions. Five9 would owe Zoom a $450 million termination fee in specified circumstances, including a change or withdrawal of its board's recommendation or a superior proposal. In a joint press release dated July 18, 2021, furnished as Exhibit 99.1, the companies described the deal as an all-stock transaction valued at approximately $14.7 billion, implying $200.28 per Five9 share based on Zoom's July 16, 2021 closing price. The release says Five9 will become an operating unit of Zoom, Five9 CEO Rowan Trollope will become a President of Zoom while continuing as Five9 CEO, and the transaction is expected to close in the first half of calendar 2022.

Jul 19, 2021 8-K

Zoom Communications 8-K Report, Shareholder Vote Results (Jun 23, 2021)

Zoom Video Communications, Inc. (now Zoom Communications, Inc.) filed this Form 8-K to report the results of its 2021 Annual Meeting of Stockholders, held June 17, 2021. Stockholders elected Jonathan Chadwick, Kimberly Hammonds, and Dan Scheinman as Class II directors to serve until the 2024 annual meeting. Stockholders also ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2022, with 741,051,386 votes for, 486,444 against, and 133,219 abstaining. On an advisory basis, stockholders approved the compensation of the company's named executive officers, with 644,601,293 votes for and 38,077,168 against. For the frequency of future advisory say-on-pay votes, 669,973,698 votes favored every one year, versus 68,318 for two years and 12,651,827 for three years. Based on these results and the board's recommendation, the board determined that the company will hold future advisory votes on executive compensation every year. For investors, the filing is primarily routine governance: director elections, auditor ratification, and say-on-pay all passed, and the annual frequency for future say-on-pay votes was adopted. The filing contains no financial results or strategic announcements.

Jun 23, 2021 8-K

Zoom Communications 8-K Report, Financial Results (Jun 1, 2021)

Zoom Video Communications, Inc. filed this Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition) to furnish a press release announcing financial results for the first fiscal quarter of fiscal year 2022, the three months ended April 30, 2021. The company reported total revenue of $956.2 million, up 191% year over year, compared with $328.2 million in the prior-year quarter. GAAP income from operations was $226.3 million (GAAP operating margin of 23.7%), and non-GAAP income from operations was $400.9 million (non-GAAP operating margin of 41.9%). GAAP net income attributable to common stockholders was $227.4 million, or $0.74 per diluted share, and non-GAAP diluted EPS was $1.32. Cash generation was strong. Net cash provided by operating activities was $533.3 million, and free cash flow was $454.2 million, compared with $251.7 million a year earlier. Total cash, cash equivalents and marketable securities, excluding restricted cash, stood at $4.7 billion as of April 30, 2021. Customer metrics also grew: about 497,000 customers had more than 10 employees (up approximately 87%), and 1,999 customers contributed more than $100,000 in trailing 12-month revenue (up approximately 160%). Management raised full-year fiscal 2022 total revenue guidance to $3.975 billion to $3.990 billion and set non-GAAP income from operations guidance of $1.425 billion to $1.440 billion. Second-quarter guidance calls for total revenue of $985.0 million to $990.0 million. The press release notes that GAAP net income in the quarter included $66.9 million of litigation settlements, net, and that the forward-looking statements are subject to risks including the trajectory of COVID-19 demand for remote work solutions.

Jun 1, 2021 8-K/A

Zoom Communications 8-K/A Report, Executive Changes (Jun 1, 2021)

Zoom Video Communications, Inc. (ZM) filed this Form 8-K/A to amend its earlier Current Reports on Form 8-K, which reported the Board's appointments of Lieut. Gen. H.R. McMaster (appointed May 3, 2020 as a Class I director) and Janet Napolitano (appointed October 31, 2020 as a Class III director). The original filings did not state committee assignments for either director. This amendment discloses that on May 26, 2021, the Board appointed each of Gen. McMaster and Ms. Napolitano to serve on the newly formed Cybersecurity Risk Management Committee of the Board. No other changes to the directors' appointments are described in the filing. For investors, the principal information is governance-related: the Board has created a dedicated Cybersecurity Risk Management Committee and staffed it with two directors. The filing is a correction-style update clarifying committee assignments rather than reporting a new appointment, financial result, or transaction.

Jun 1, 2021 8-K