Zscaler Inc ZS reported fiscal first-quarter financial results after the bell on Monday. Here's a look at the key metrics from the quarter.
Q3 Earnings: Zscaler said first-quarter revenue increased 40% year-over-year to $496.7 million, which beat the consensus estimate of $474.74 million, according to Benzinga Pro. The company reported quarterly adjusted earnings of 67 cents per share, which beat analyst estimates of 49 cents per share.
Calculated billings grew 34% year-over-year to $456.6 million. Deferred revenue increased 39% year-over-year to $1.4 billion.
Cash flow from operations totaled $260.8 million in the quarter and the company generated $224.7 million of free cash flow. Zscaler ended the quarter with $2.32 billion in cash, equivalents and short-term investments.
"We had a strong start to our fiscal year with all key metrics coming above our guidance. We are enabling enterprises to move forward with their key transformative initiatives - Zero Trust and AI - which is driving demand for our Zero Trust Exchange," said Jay Chaudhry, chairman and CEO of Zscaler.
Zscaler also announced that Mike Rich has been appointed as chief revenue officer and president of global sales and Joyce Kim has been appointed as chief marketing officer.
Outlook: Zscaler sees fiscal second-quarter revenue in the range of $505 million to $507 million versus estimates of $496.67 million. The company expects full-year 2024 revenue of approximately $2.09 billion to $2.1 billion versus estimates of $2.06 billion.
Zscaler anticipates second-quarter adjusted earnings of 57 cents to 58 cents per share versus estimates of 51 cents per share. The company sees full-year adjusted earnings of $2.45 to $2.48 per share versus estimates of $2.24 per share.
Management will hold a conference call to discuss these results at 4:30 p.m. ET.
See Also: CrowdStrike To Rally More Than 16%? Here Are 10 Top Analyst Forecasts For Monday
ZS Price Action: Zscaler shares were down 7.11% after hours at $178.31 at the time of publication, according to Benzinga Pro.
Photo: Panumas Nikhomkhai from Pixabay.
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