ZM · Zoom Communications

97 filings

ZM SEC Filings

Zoom Communications - 97 total filings

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

Showing 1–50 of 97 filings

Zoom 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.

Sep 2, 2026 10-Q

Zoom Communications Quarterly Report for Q2 Ended Jul 31, 2026

Zoom Communications, Inc. reported revenue of $1,277.2 million for the three months ended July 31, 2026, up 4.9% from $1,217.2 million a year earlier, and $2,516.2 million for the six months, up 5.2% from $2,391.9 million. Income from operations was $314.3 million for the quarter, versus $321.7 million in the prior-year quarter. Net income was $1,542.4 million for the quarter, compared with $358.6 million, and was driven mainly by a $1,614.2 million gain on strategic investments, net, which includes a $1,612.7 million increase in the fair value of the company's Anthropic investment. Diluted net income per share was $5.15 for the quarter and $6.56 for the six months. Operating results were steadier than the headline net income suggests. Gross margin was 77.2% in the quarter versus 77.6% a year earlier, as third-party hosting costs rose $24.4 million on higher platform usage, including AI-related consumption. Research and development expense grew 17.5% for the quarter on AI investment, while sales and marketing expense fell 2.5%, helped by a change in the amortization period for deferred contract acquisition costs from three years to five years. Net cash provided by operating activities was $1,016.4 million for the six months, and free cash flow was $972.9 million. The company repurchased 3,740,213 Class A shares for $351.9 million in the quarter, and $1.3 billion of its repurchase authorization remained available at July 31, 2026. The filing also highlights the company's balance sheet and open legal matters. Cash, cash equivalents, and marketable securities totaled $7.2 billion, and strategic investments reached $3,785.9 million, of which $3,134.5 million is the Anthropic preferred stock. The company acquired Common Room, Inc. in July 2026 for $266.8 million and made a $300.9 million additional investment in Anthropic during the six months. The EDNY investigation remains ongoing, and the company cannot estimate a range of possible loss. The Northern District of California has concluded its investigation without further action.

Aug 26, 2026 8-K

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 10-Q

Zoom Communications Quarterly Report for Q1 Ended Apr 30, 2026

Zoom Communications, Inc. reported revenue of $1,239.0 million for the three months ended April 30, 2026, up from $1,174.7 million in the prior-year period, an increase of 5.5%. Income from operations rose to $310.5 million from $241.6 million, and net income was $425.7 million compared with $254.6 million. Results were helped by gains on strategic investments, net, of $152.3 million, compared with a loss of $13.6 million a year earlier, and the filing attributes the gains mainly to privately held securities other than Anthropic. Diluted net income per share was $1.42 versus $0.81. Net cash provided by operating activities was $521.6 million, and free cash flow, a non-GAAP measure defined in the filing, was $500.5 million. The balance sheet remained strong, with cash and cash equivalents of $890.9 million and marketable securities of $6,830.0 million, for total liquidity of $7.7 billion as stated in the filing. Strategic investments grew to $1,876.4 million, including a $46.0 million additional investment in Anthropic preferred stock that brought that holding to $1,266.9 million. The company repurchased 4,169,208 Class A shares for $361.7 million during the quarter, and in May 2026 its Board authorized an additional $1.0 billion of repurchases, with $625.0 million remaining under the existing authorization as of April 30, 2026. Management cites macroeconomic uncertainty, including the conflict involving Iran and energy price volatility, as contributing to variability in sales cycles and continued caution in enterprise spending. Trailing 12-month net dollar expansion for Enterprise customers was 99%, compared with 98% a year earlier, and online average monthly churn was 3.0%, compared with 2.8%. The company also disclosed ongoing EDNY and NDCA government investigations, for which it states it cannot reasonably estimate a range of possible loss.

May 22, 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 10-K

Zoom Communications Annual Report, Year Ended Jan 31, 2026

Zoom Communications, Inc. (Nasdaq: ZM) reported fiscal year 2026 (ended January 31, 2026) revenue of $4,868.8 million, up from $4,665.4 million in fiscal 2025, an increase of 4.4% as stated in the filing. Gross margin rose to 77.0% from 75.8%, income from operations reached $1,123.6 million versus $813.3 million, and net income was $1,900.1 million, compared with $1,010.2 million in the prior year. Net income was boosted by $969.8 million in gains on strategic investments, net, driven mainly by fair value changes in privately held securities. Net cash provided by operating activities was $1,989.0 million, and free cash flow (a non-GAAP measure defined by the company) was $1,924.1 million. The company reported a trailing 12-month net dollar expansion rate for Enterprise customers of 98%, down from 101% two years earlier, and attributed the softness to slower hiring and seat downsells from existing enterprise customers. Revenue from customers contributing more than $100,000 of trailing 12-month revenue rose to 32.8% of total revenue, with 4,468 such customers at year-end. The company repurchased 20,385,361 Class A shares for about $1.6 billion during the year and had $1.0 billion remaining under its repurchase authorization. Cash, cash equivalents and marketable securities totaled $7.8 billion as of January 31, 2026. The filing also highlights AI as a central strategic focus, including AI Companion 3.0 launched at no additional cost for paid Zoom Workplace users, and the acquisition of BrightHire, Inc. for $98.0 million in cash. Management disclosed a change in the amortization period for deferred contract acquisition costs from three years to five years, with an estimated reduction in sales and marketing expense of $90.0 million to $95.0 million for fiscal 2027. The company continues to disclose an ongoing EDNY and NDCA government investigation, and the SEC investigation concluded in July 2025 without an enforcement recommendation. The dual-class structure gives Class B holders 51.8% of voting power as of January 31, 2026.

Feb 27, 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 10-Q

Zoom Communications Quarterly Report for Q3 Ended Oct 31, 2025

Zoom Communications, Inc. reported revenue of $1,229.8 million for the three months ended October 31, 2025, up 4.4% from $1,177.5 million a year earlier, and $3,621.8 million for the nine months, up 4.0%. Income from operations was $310.4 million for the quarter versus $182.8 million in the prior-year quarter, and net income was $612.9 million, boosted by $406.1 million in gains on strategic investments, net. Nine-month net income was $1,226.1 million compared with $642.4 million. Management attributes the revenue growth to 6.1% growth in Enterprise revenue in the quarter and a 2.0% increase in Online revenue, while noting that macroeconomic uncertainty has led to longer sales cycles and caution in enterprise spending. The company's trailing 12-month net dollar expansion rate for Enterprise customers was 98% as of October 31, 2025 and 2024. Cash flow and capital return remained central. Net cash provided by operating activities was $1,634.5 million for the nine months, and free cash flow, a non-GAAP measure, was $1,585.6 million. The company repurchased 16,624,306 Class A shares during the nine months for $1,295.8 million, and as of October 31, 2025, $310.4 million remained under the repurchase authorization. In November 2025, the Board authorized an additional $1.0 billion repurchase program. Liquidity totaled $7.9 billion in cash, cash equivalents, and marketable securities, and management believes this is sufficient for at least the next 12 months. The filing also notes a subsequent event: an agreement to acquire BrightHire, Inc., an AI-powered interview intelligence and hiring automation company, expected to close in the fourth fiscal quarter with consideration paid in cash. Ongoing EDNY and NDCA government investigations remain unresolved, with the company unable to estimate a range of possible loss, while the SEC investigation was concluded on July 30, 2025 without an enforcement recommendation.

Nov 25, 2025 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 10-Q

Zoom Communications Quarterly Report for Q2 Ended Jul 31, 2025

Zoom Communications, Inc. reported revenue of $1,217.2 million for the three months ended July 31, 2025, up 4.7% from $1,162.5 million a year earlier, and net income of $358.6 million versus $219.0 million. For the six months ended July 31, 2025, revenue was $2,391.9 million (up 3.8%) and net income was $613.2 million versus $435.3 million. Income from operations rose to $321.7 million for the quarter from $202.4 million, and gross margin expanded to 77.6% from 75.5%. The filing attributes the margin gain mainly to lower stock-based compensation and hosting costs, and the operating expense decline mainly to lower stock-based compensation and a $18.0 million reversal of an accrual related to an SEC investigation, which the SEC concluded on July 30, 2025 without recommending enforcement. Cash flow remained steady, with net cash provided by operating activities of $1,005.2 million for the six months versus $1,037.5 million a year earlier, and free cash flow (a non-GAAP measure) of $971.3 million. The company repurchased 11,512,818 Class A shares for about $881.4 million during the six months, leaving $724.7 million of authorization available at July 31, 2025. Cash, cash equivalents and marketable securities totaled $7.8 billion. Enterprise customers generated 60.0% of revenue, and the trailing 12-month net dollar expansion rate for Enterprise customers was 98%, below one hundred percent. The filing also reports ongoing DOJ investigations by the EDNY and NDCA, which the company says could result in substantial fines, and it notes a subsequent event: an unrealized gain of approximately $400.0 million on a private strategic investment recognized after July 31, 2025.

Aug 22, 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 10-Q

Zoom Communications Quarterly Report for Q1 Ended Apr 30, 2025

Zoom Communications, Inc. (ZM) reported revenue of $1,174.7 million for the three months ended April 30, 2025, up 2.9% from $1,141.2 million a year earlier, and net income of $254.6 million compared with $216.3 million. Income from operations was $241.6 million versus $203.0 million, and diluted net income per share was $0.81 versus $0.69. The filing states that Enterprise customers generated 60.0% of revenue, Online customers 40.0%, and that the trailing 12-month net dollar expansion rate for Enterprise customers was 98%, down from 99% a year earlier. Cash flow from operations was $489.3 million compared with $588.2 million, which the filing attributes primarily to first-quarter estimated tax payments that fell in this period rather than the prior-year quarter. Free cash flow, a non-GAAP measure defined in the filing, was $463.4 million. The company repurchased and retired 5,561,920 Class A shares for $418.0 million during the quarter, and $1.2 billion of its repurchase authorization remained available. Cash, cash equivalents and marketable securities totaled $7.8 billion as of April 30, 2025. The filing describes ongoing DOJ and SEC investigations related to data privacy and security matters, with an $18.0 million tentative SEC settlement subject to SEC approval, and a $150.0 million securities class action settlement still awaiting final court approval. Management states it cannot reasonably estimate a range of possible loss beyond the $18.0 million SEC settlement offer.

May 23, 2025 8-K

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 10-K

Zoom Communications Annual Report, Year Ended Jan 31, 2025

Zoom Communications, Inc. (Nasdaq: ZM) reported revenue of $4,665.4 million for the fiscal year ended January 31, 2025, up from $4,527.2 million in fiscal 2024 and $4,393.0 million in fiscal 2023, representing year-over-year growth of 3.1%. Net income rose to $1,010.2 million from $637.5 million, and income from operations increased to $813.3 million from $525.3 million. Gross margin declined slightly to 75.8% from 76.2%, mainly due to costs associated with AI functionality and investments to upgrade the data center backbone. Operating cash flow was $1,945.3 million and free cash flow (non-GAAP) was $1,808.7 million. The company positions itself as an AI-first work platform, with Zoom AI Companion and a federated approach that draws on multiple large language models. Revenue from Enterprise customers represented 59.0% of total revenue, while the trailing 12-month net dollar expansion rate for Enterprise customers fell to 98% from 101% a year earlier. Online monthly churn improved to 2.9% from 3.1%. Enterprise customer count was approximately 192,600 after about 26,800 lower-MRR customers were moved to the Online category, and the company will stop reporting that metric beginning in fiscal 2026. As of January 31, 2025, cash, cash equivalents and marketable securities totaled $7.8 billion. The company repurchased 15,888,316 Class A shares for about $1.1 billion during the year, with $1.6 billion of authorization remaining. Class B shares held 61.8% of voting power, and the filing discloses ongoing U.S. government investigations related to privacy and security matters, with an $18.0 million tentative SEC settlement accrued.

Feb 28, 2025 8-K

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 10-Q

Zoom Communications Quarterly Report for Q3 Ended Oct 31, 2024

Zoom Video Communications, Inc. (renamed Zoom Communications, Inc. on November 25, 2024) reported revenue of $1,177.5 million for the three months ended October 31, 2024, up from $1,136.7 million a year earlier, a 3.6% increase. Net income was $207.1 million, compared with $141.2 million, and diluted earnings per share were $0.66 versus $0.45. For the nine months, revenue was $3,481.3 million (up 3.0%) and net income was $642.4 million, versus $338.6 million. Income from operations rose to $588.2 million for the nine months from $356.7 million, while sales and marketing and general and administrative expenses fell year over year, partly due to the prior-year restructuring plan. Gross margin declined to 75.8% for the nine months from 76.3%, which management attributed to increased use of AI functionality and investments to upgrade the data center backbone. Growth indicators were mixed. The trailing 12-month net dollar expansion rate for Enterprise customers fell to 98% from 105%, and management cited elongated sales cycles and reduced corporate spending. Enterprise customers totaled approximately 192,400 versus 219,700, though the filing notes about 26,800 lower-MRR customers were transferred to Online customers during the quarter ended April 30, 2024. Customers contributing more than $100,000 of trailing 12-month revenue rose to 3,995 from 3,731. Cash generation and capital returns were significant. Net cash provided by operating activities was $1,520.7 million for the nine months, and free cash flow, a non-GAAP measure, was $1,392.5 million. Cash, cash equivalents, and marketable securities totaled $7.7 billion as of October 31, 2024. The company repurchased $739.3 million of Class A stock during the nine months, and in November 2024 its board authorized an additional $1.2 billion, bringing remaining authorization to approximately $2.0 billion as of November 26, 2024. Legal matters include a $18.0 million accrual for a tentative settlement offer in the SEC investigation, subject to SEC approval, and the securities class action settlement previously agreed at $150.0 million.

Nov 26, 2024 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

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

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 10-Q

Zoom Communications Quarterly Report for Q2 Ended Jul 31, 2024

Zoom Video Communications, Inc. reported revenue of $1,162.5 million for the three months ended July 31, 2024, up 2.1% from $1,138.7 million a year earlier, and net income of $219.0 million versus $182.0 million. For the six months ended July 31, 2024, revenue was $2,303.8 million (up 2.7%) and net income was $435.3 million versus $197.4 million. Net cash provided by operating activities was $1,037.5 million for the six months, compared with $754.5 million in the prior-year period, and free cash flow (a non-GAAP measure defined in the filing) was $934.8 million versus $686.0 million. The filing attributes growth to Enterprise customers, which grew 3.5% in the quarter, while Online customer revenue was flat year over year. Management cited a 2.9% monthly average churn for Online customers in the quarter, and a trailing 12-month net dollar expansion rate for Enterprise customers of 98%, down from 109% a year earlier. Enterprise customers fell to approximately 191,600 from 218,100, after roughly 26,800 lower-MRR customers were moved to the Online category during the quarter. Gross margin declined to 75.5% from 76.6%, which the company attributed mainly to costs of increased AI functionality use and data center backbone upgrades. Management also described elongated sales cycles and reduced corporate spending and IT scrutiny from customers. Capital allocation included $437.7 million of Class A stock repurchases in the six months, with $1,062.3 million remaining under a $1.5 billion authorization. Cash, cash equivalents and marketable securities totaled $7.5 billion. The filing also discloses ongoing DOJ and SEC investigations related to security and privacy matters, and a securities class action settlement of $150.0 million, of which net payments of $60.0 million were made in fiscal 2024.

Aug 23, 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 10-Q

Zoom Communications Quarterly Report for Q1 Ended Apr 30, 2024

Zoom Video Communications, Inc. reported revenue of $1,141.2 million for the three months ended April 30, 2024, up from $1,105.4 million a year earlier, representing period-over-period growth of 3.2%. Net income was $216.3 million compared with $15.4 million in the prior-year quarter, and income from operations was $203.0 million versus $9.7 million. The improvement was supported by lower operating expenses, including sales and marketing expense of $348.0 million (down from $422.5 million) and general and administrative expense of $111.3 million (down from $199.9 million), with the filing attributing the G&A decline largely to a $50.0 million decrease in legal expenses, including litigation settlements, and the prior-year restructuring plan. Cash generation remained strong. Net cash provided by operating activities was $588.2 million, and free cash flow, a non-GAAP measure defined by the company, was $569.7 million. As of April 30, 2024, cash, cash equivalents, and marketable securities totaled $7.4 billion. During the quarter the company repurchased 2,400,305 Class A shares for $150.0 million, leaving $1,350.0 million available under the $1.5 billion repurchase authorization. The filing also highlights operating pressures. Trailing 12-month net dollar expansion for Enterprise customers was 99% as of April 30, 2024, down from 112% a year earlier, and Enterprise customers fell to approximately 191,000 from 215,900, partly reflecting the transition of about 26,800 lower-MRR customers to Online status. Management cites elongated sales cycles and lower customer corporate spending, and the company says it is investigating matters with the DOJ and SEC that could lead to substantial fines.

May 22, 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 10-K

Zoom Communications Annual Report, Year Ended Jan 31, 2024

Zoom Video Communications, Inc. reported revenue of $4,527.2 million for the fiscal year ended January 31, 2024, up from $4,393.0 million in fiscal 2023 and $4,099.9 million in fiscal 2022, with revenue growth of 3.1% year over year. Income from operations was $525.3 million, compared with $245.4 million in fiscal 2023, and net income was $637.5 million, compared with $103.7 million the prior year. Net cash provided by operating activities was $1,598.8 million, and free cash flow (a non-GAAP measure) was $1,471.9 million. Gross margin rose to 76.2% from 74.9%, while sales and marketing expense fell 9.2% to $1,541.3 million, partly reflecting lower stock-based compensation. Management cites macroeconomic headwinds, including high inflation, elevated interest rates, and uncertain corporate spending, which have lengthened enterprise sales cycles and reduced revenue growth and the trailing 12-month net dollar expansion rate for Enterprise customers, which fell to 101% from 115%. Online average monthly churn improved to 3.1% from 3.4%. Enterprise customers rose to approximately 220,400 and now account for 57.9% of revenue. A strengthening U.S. dollar reduced revenue by $34.1 million. The company completed a restructuring plan that reduced its workforce by approximately 15%, with $73.0 million in net restructuring costs recorded in fiscal 2024. At year end, the company held cash, cash equivalents, and marketable securities totaling $7.0 billion, and it authorized a new $1.5 billion Class A stock repurchase program in February 2024. The filing also discloses ongoing DOJ and SEC investigations related to privacy and security matters, securities and derivative litigation, and a dual-class structure in which Class B shares held by insiders carry 64.1% of the voting power.

Mar 4, 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 10-Q

Zoom Communications Quarterly Report for Q3 Ended Oct 31, 2023

Zoom Video Communications, Inc. reported its quarterly results for the three and nine months ended October 31, 2023. Revenue for the three months was $1,136.7 million, up 3.2% from $1,101.9 million a year earlier, and net income was $141.2 million versus $48.4 million. For the nine months, revenue was $3,380.8 million (up 3.2% from $3,275.2 million) and net income was $338.6 million versus $207.8 million. Net cash provided by operating activities was $1,247.6 million for the nine months, and free cash flow (a non-GAAP measure defined in the filing) was $1,139.2 million. The company cites macroeconomic pressure, including elongated sales cycles and lower customer corporate spending, along with an unfavorable foreign currency impact of $3.9 million on quarterly revenue and $32.6 million on nine-month revenue. The Enterprise trailing 12-month net dollar expansion rate was 105% as of October 31, 2023, down from 117% a year earlier, and Enterprise customers reached approximately 219,700. The company completed a restructuring plan that reduced its workforce by approximately 15%, recording $73.0 million of restructuring costs for the nine months. The filing also details ongoing legal exposure: a $150.0 million securities class action settlement (of which $60.0 million net was paid in the quarter ended July 31, 2023), and continuing DOJ and SEC investigations that the company says could result in substantial fines or penalties. Cash, cash equivalents, and marketable securities totaled $6.5 billion, and the company believes these resources are sufficient for at least the next 12 months.

Nov 21, 2023 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 10-Q

Zoom Communications Quarterly Report for Q2 Ended Jul 31, 2023

Zoom Video Communications, Inc. (now Zoom Communications, Inc.) reported revenue of $1,138.7 million for the three months ended July 31, 2023, up 3.6% from $1,099.5 million a year earlier, and net income of $182.0 million versus $45.8 million. For the six months, revenue was $2,244.0 million (up 3.3%) and net income was $197.4 million versus $159.4 million. Income from operations for the quarter rose to $177.6 million from $121.7 million, and gross margin improved to 76.6% from 75.1%. Operating cash flow for the six months declined to $754.5 million from $783.4 million, and free cash flow was $686.0 million versus $730.5 million. Cash, cash equivalents, and marketable securities totaled $6.0 billion. Growth indicators were mixed. Enterprise customers reached approximately 218,100 versus 204,100, and customers contributing more than $100,000 of trailing 12-month revenue rose to 3,672 from 3,116. However, the trailing 12-month net dollar expansion rate for Enterprise customers fell to 109% from 120%, and the company cited elongated sales cycles, reduced corporate spending, and a $10.2 million quarterly revenue headwind from a stronger U.S. dollar. Online revenue declined 4.3% in the quarter. The company completed a February 2023 restructuring that reduced its workforce by approximately 15%, recording $73.0 million of restructuring costs for the six months. Legal and regulatory matters were significant. The company agreed to a $150.0 million settlement of a securities class action, with $60.0 million in net payments made in the quarter. The Department of Justice and SEC investigations into data privacy, security, and China-related matters remain ongoing, and the company stated it cannot predict their outcome. The company also acquired Workvivo for $221.8 million in April 2023 and made no share repurchases in the six months ended July 31, 2023.

Aug 23, 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

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 10-Q

Zoom Communications Quarterly Report for Q1 Ended Apr 30, 2023

Zoom Video Communications, Inc. reported revenue of $1,105.4 million for the three months ended April 30, 2023, up from $1,073.8 million a year earlier, a period-over-period growth of 2.9%. Net income fell to $15.4 million from $113.7 million, and income from operations dropped to $9.7 million from $187.1 million. The decline was driven by higher operating expenses, including a $52.5 million additional estimated legal settlement charge recorded in general and administrative expense, $73.2 million of restructuring expenses tied to the February 2023 plan to reduce the workforce by approximately 15%, and higher research and development and sales and marketing costs. Gross margin improved to 76.1% from 75.6%. Cash generation remained strong but softened. Net cash provided by operating activities was $418.5 million compared with $526.2 million a year earlier, and free cash flow was $396.7 million versus $501.1 million. As of April 30, 2023, cash, cash equivalents, and marketable securities totaled $5.6 billion. During the quarter the company completed two acquisitions, Solvvy, Inc. and Workvivo Limited, which together involved all-cash consideration of $199.4 million net of cash acquired in investing activities. Management stated that the company expects existing cash, cash equivalents, marketable securities, and operating cash flow to be sufficient to meet needs for at least the next 12 months. The filing also highlights ongoing risks. The company is cooperating with Department of Justice and SEC investigations relating to security, privacy, and China-related matters, and it recorded a $52.5 million additional charge for a securities class action that it is discussing settling. Remaining performance obligations were $3,482.2 million, with 59% expected to be recognized over the next 12 months. Enterprise customers grew to approximately 215,900 from 198,900, while the trailing 12-month net dollar expansion rate for Enterprise customers declined to 112% from 123%.

May 25, 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 10-K

Zoom Communications Annual Report, Year Ended Jan 31, 2023

Zoom Video Communications, Inc. (now Zoom Communications, Inc.) reported revenue of $4,393.0 million for the fiscal year ended January 31, 2023, up from $4,099.9 million in fiscal 2022, a 7% increase. Net income fell to $103.7 million from $1,375.6 million, and income from operations was $245.4 million, compared with $1,063.6 million a year earlier. The filing attributes the revenue growth to a 23.6% increase in Enterprise subscription revenue, partly offset by a 7.7% decline in Online revenue. Operating expenses rose sharply, with sales and marketing up 49.4% and research and development up 113.2%, and stock-based compensation totaled $1,285.8 million. Management says revenue growth has declined as the COVID-19 pandemic tapered and expects it to continue to decline relative to prior periods. The company also cited a $69.1 million negative foreign currency impact on revenue from a stronger U.S. dollar. The balance sheet remained strong, with cash, cash equivalents, and marketable securities of $5.4 billion as of January 31, 2023. Operating cash flow was $1,290.3 million and free cash flow, a non-GAAP measure, was $1,186.4 million. The company repurchased $1.0 billion of Class A common stock during the year, completing a program authorized in February 2022. In February 2023, after year end, Zoom announced a restructuring plan to cut roughly 15% of its workforce, with estimated charges of $50 million to $68 million, to reduce operating costs and pursue profitable growth. Investors should also weigh the legal and regulatory exposure described in the filing, including ongoing U.S. Department of Justice and SEC subpoenas tied to privacy, security, and China-related matters, as well as securities class actions. The dual-class structure gives Class B holders 65.4% of voting power, and founder Eric S. Yuan's affiliates control approximately 31.6% of voting power while holding about 7.7% of outstanding capital stock.

Mar 3, 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

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

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 10-Q

Zoom Communications Quarterly Report for Q3 Ended Oct 31, 2022

Zoom Video Communications, Inc. filed this Quarterly Report on Form 10-Q for the quarter ended October 31, 2022. Total revenue was $1,101.9 million for the three months ended October 31, 2022, up from $1,050.8 million a year earlier, and $3,275.2 million for the nine months, up from $3,028.5 million. Net income fell sharply to $48.4 million for the quarter from $340.4 million, and to $207.8 million for the nine months from $885.0 million. The filing attributes the decline in profitability to higher operating expenses, particularly research and development and sales and marketing, which rose largely on personnel costs and stock-based compensation. Income from operations was $66.5 million for the quarter versus $290.9 million a year earlier. Gross margin improved to 75.4% for the quarter from 74.2%. The company reported that its revenue growth rate has declined and that it expects growth to generally decline in future periods, citing COVID-19 tapering, competition and market maturation. Enterprise customers reached approximately 209,300, and the trailing 12-month net dollar expansion rate for Enterprise customers was 117%, down from 139%. Online customers' monthly average churn was 3.1% for the quarter, compared with 3.7% a year earlier. Remaining performance obligations totaled $3,245.9 million, with 59% expected to be recognized as revenue over the next 12 months. Liquidity remained substantial, with cash, cash equivalents and marketable securities of $5.2 billion as of October 31, 2022. The company repurchased 11,044,500 Class A shares for $990.8 million during the nine months, leaving $9.2 million of its $1.0 billion authorization. Operating cash flow was $1,078.7 million for the nine months, down from $1,395.9 million, and free cash flow (a non-GAAP measure) was $1,003.1 million. The filing also discloses ongoing U.S. Department of Justice and SEC investigations, along with pending privacy-related securities and consumer class actions, for which the company cannot estimate a loss.

Nov 23, 2022 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