Zscaler Inc (NASDAQ:ZS) reported fiscal third-quarter financial results Thursday after the bell. Here’s a rundown of the report.

Q3 Earnings: Zscaler said third-quarter revenue increased 32% year-over-year to $553.2 million, which beat the consensus estimate of $535.906 million, according to Benzinga Pro. The company reported quarterly adjusted earnings of 88 cents per share, beating analyst estimates of 66 cents per share.

Calculated billings grew 30% year-over-year to $628 million. Deferred revenue increased 34% year-over-year to $1.577 billion. 

Cash flow from operations totaled $173.4 million in the quarter. The company generated $123.1 million of free cash flow in the third quarter, up from $73.9 million in the prior year’s quarter. Zscaler ended the quarter with $2.24 billion in cash, equivalents and short-term investments. 

“We delivered an outstanding quarter driven by growing customer interest in our Zero Trust Exchange platform,” said Jay Chaudhry, chairman and CEO of Zscaler.

“As threat actors evolve and continue to exploit firewall-based security, Zero Trust security remains a top IT priority, and an increasing number of enterprises are adopting our platform. To meet this demand, we are accelerating innovation, expanding our platform and building a strong go-to-market team to scale our business to $5 billion and beyond in ARR.”

Guidance: Zscaler sees fiscal fourth-quarter revenue in the range of $565 million to $567 million. The company sees fourth-quarter adjusted earnings of 69 cents to 70 cents per share.

Zscaler expects full-year revenue of approximately $2.14 billion to $2.142 billion. The company anticipates full-year adjusted earnings of $2.99 to $3.01 per share.

Zscaler’s management team will discuss the financial results on a conference call at 4:30 p.m. ET.

ZS Price Action: Zscaler shares were up 14.62% after hours at $178.44 at the time of publication Thursday, according to Benzinga Pro.

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