Zscaler Inc (ZS)

“So we are going into the second half of the year feeling confident. We do see a strong pipeline of deals going into the back half, which does give us confidence in the raise, excluding Red Canary.”

“We are confident in our outlook for the second half of fiscal 2026. And as a result, we are increasing our guidance across the board.”

“And free cash flow margin of approximately 26.5% to 27%, reflecting CapEx in the mid-single digits as a percentage of revenue.”

“Earnings per share of $3.99 to $4.02, assuming a 21% tax rate and approximately 169 million fully diluted shares.”

“Operating profit of $742 million to $748 million, up approximately 28% to 29% year-over-year, up from our prior guidance of $732 million to $740 million.”

“We expect Red Canary revenue of approximately $125 million in fiscal '26, up from our prior guidance of $90 million.”

“Revenue of $3.309 billion to $3.322 billion, reflecting year-over-year growth of 23.8% to 24.3%.”

“For the second half of fiscal '26, we expect approximately 40% of total net new ARR to be recognized in Q3.”

“For Red Canary, we expect ARR of approximately $130 million in fiscal '26, up from our prior guidance of $95 million, with net new ARR of approximately $6 million in Q3 and $10 million in Q4.”

“This guidance implies net new ARR growth, excluding Red Canary, of approximately 9.5%.”

“For the full year fiscal 2026, ARR of $3.730 billion to $3.745 billion or year-over-year growth of approximately 24%.”

“earnings per share of $1 to $1.01, assuming a 21% tax rate and 167 million fully diluted shares.”

“net other income of approximately $25 million”

“operating profit of $187 million to $189 million, equating to an operating margin of 22.4% to 22.6%”

“gross margin of approximately 80%”

“For the third quarter, we expect revenue of $834 million to $836 million, reflecting approximately 23% year-over-year growth”

“We are soon launching an AI agent for ZDX that will automate multiple troubleshooting tasks, resulting in faster diagnosis and resolution of performance issues.”

“So we are seeing very healthy acceleration in net new ARR growth, both first half and signaling for the back half.”

“We anticipate that more customers will embrace Z-Flex over time”

“So as I look forward, I would expect that we will continue to see improvement in productivity as a result. So we are seeing the benefits, and I expect that we'll continue to see an improvement over time.”

“We expect these advantages, including significant architectural differentiation and our large customer base to drive short-term and long-term demand for our platform.”

“For Q1, we're pleased with the margin profile. We're comfortable with the Q2 guide. And then as we look into the back half of the year, you will notice that there's margin expansion in the guide in the back half.”

“Revenue in the range of $3.282 billion to $3.301 billion, reflecting year-over-year growth of 22.8% to 23.5%, operating profit in the range of $732 million to $740 million, earnings per share in the range of $3.78 to $3.82, assuming a 21% tax rate and approximately 170.5 million fully diluted shares, and free cash flow margin to be approximately 20% to 26.5%.”

“We anticipate approximately 47.8% of net new ARR to be recognized in the first half.”

“With the strong demand, I expect AI security ARR to exceed half a billion dollars by the end of this fiscal year.”

“And with our strong go-to-market engine, we are well positioned to exceed $10 billion in ARR.”

“The core business by itself will grow at a smaller rate than the rest of the overall business.”

“We expect ZPA to give us good growth as well.”

“AI security is somewhat smaller, but we expect it to grow at a faster pace as well.”

“The macro was about high single digits as a percentage of the business in 2025. We're expecting similar performance going forward.”

“earnings per share in the range of $0.85 to $0.86, assuming a 23% tax rate and 167 million fully diluted shares.”

“Operating profit in the range of $166 million to $168 million, net other income of approximately $18 million, earnings per share in the range of $0.85 to $0.86, assuming a 23% tax rate and 167 million fully diluted shares.”

“Gross margins to be approximately 80%.”

“For the first quarter, we expect revenue in the range of $772 million to $774 million, reflecting year-over-year growth of approximately 23%.”

“Given the one-time nature of this shipment, we expect gross margin to move back up to 80% in Q1.”

“Customer interest in Z Flex continues to grow, and I expect it to be a meaningful growth driver in fiscal 2026.”

“I'm very pleased with the pace of our platform innovations for Zero Trust Everywhere, data security everywhere, and AI security, and I expect our strong growth in these areas to continue.”

“With the ongoing growth in AI workloads and the need to secure them, I expect Zero Trust cloud to continue its strong growth in fiscal 2026.”

“With this strong momentum, we remain on track to achieve our target.”

“And also, you know, for our guide for Q4, we're not expecting a significant, you know, strength with that. ... And we're not expecting a significant quarter in Q4 for that.”

“The unscheduled billings in Q4 and the guidance that we gave is 25% growth year over year.”

“Right now, we're talking to our investor call. See, the key thing, I think, you know, is that you look at what we have and the platform that we created, and the expansion of the emerging products. You know, we've talked about that the emerging products, you know, is expanding. So we're expecting emerging products to, you know, be in the mid-twenty to high 20% range. Know, for this year.”

“We expect to close this transaction in August 2025.”

“We expect it also to be largely neutral to our FY '26 consensus operating margin.”

“With a large market opportunity and customers increasingly adopting the broader platform, we will invest aggressively to position us for long-term growth and profitability.”

“Free cash flow margin to be approximately 25.5% to 26%.”

“Earnings per share in the range of $3.18 to $3.19, assuming a 23% tax rate and approximately 163 million fully diluted shares.”

“Operating profit in the range of $573 million to $575 million.”

“Revenue in the range of $2.659 billion to $2.661 billion, reflecting a year-over-year growth of approximately 23%.”

“For the full-year fiscal 2025, billings in the range of $3.184 billion to $3.189 billion, reflecting a year-over-year growth of approximately 21% to 22%.”

“Earnings per share in the range of 79¢ to 80¢, assuming a 23% tax rate and 164 million fully diluted shares.”

“Operating profit in the range of $152 million to $154 million.”

“I expect zero trust branch to be a significant growth contributor in fiscal 2026.”

“I expect the contribution from Z Flex to grow meaningfully in the next fiscal year.”

“We remain on track to reach $3 billion or more in ARR by the end of this quarter.”

“I am more excited than ever about our continued growth to $5 billion or more in ARR.”

“As we go forward as a company, and currently, we said we have 65% upsell in this fiscal year. I would expect that percentage to increase.”

“Yes, it is expected. As we mentioned in our previous call, we anticipated that sales productivity would improve throughout the year, and we observed that in Q2. I expect sales productivity to continue to rise.”

“Yes. So we're not making a comment for fiscal '26, but it does increase.”

“We're a service company, so we don't believe tariffs will have an impact on us or significant impact at this point unless things change.”

“Based on what we know so far, we anticipate minimal direct impact from tariffs on our business.”

“Our upsell as we talked about before, we expected over 65% upsell this year, and that's what basically came in at during the quarter.”

“We called out before with scheduled billings we expected 7% in the first half and 23% in the second half, that is unchanged.”

“We expect our free cash flow margin to be approximately 24.5% to 25% with a large market opportunity and customers increasingly adopting the broader platform we will invest aggressively to position us for long-term growth and profitability.”

“For Q3, we expect billings growth to continue to improve and encourage modeling 200 to 260 basis points of sequential billings growth”

“For the full year fiscal 2025, we expect billings in the range of $3.153 billion to $3.168 billion, reflecting a year-over-year growth of approximately 20% to 21%.”

“Earnings per share in the range of $0.75 to $0.76, assuming a 23% tax rate and 163 million fully diluted shares.”

“Net other income of $18 million.”

“operating profit in the range of $140 million to $142 million.”

“Gross margins of approximately 80%.”

“For the third quarter, we expect revenue in the range of $665 million to $667 million, reflecting year-over-year growth of 20% to 21%.”

“As I mentioned earlier, with strong demand for our platform and growing innovations, I expect us to achieve $3 billion or more in ARR by the end of the fiscal year.”

“We expect this module adoption to continue to grow.”

“With our growing pipeline and better sales productivity, I expect us to achieve $3 billion or more in ARR by the end of the fiscal year.”

“I expect sales productivity to continue growth in the second half, driven by ongoing success of our go-to-market initiatives and growing number of ramped sales reps.”

“So, our ARR target for the end of the year is $3 billion. And so we are on track for that $3 billion.”

“So I feel very good about our guidance for the second half.”

“With a more mature pipeline, a stronger sales team, and growing partner engagements, I believe we remain on track to increase sales productivity and achieve strong growth.”

“With continued strong demand, I'm very pleased to increase our full-year billings and revenue guidance.”

“It's reasonable to anticipate growth in this area, and we are effectively managing it.”

“So going forward, we made the comment that we'd be in the mid-20s percentage of new and upsell for the emerging products and we still feel that.”

“So we do expect the unscheduled billings to be 20% plus also in the second half as we talked about in the last call.”

“We expect our data center CapEx to be approximately three points higher as a percentage of revenue compared to fiscal 2024 as we invest in upgrades to our cloud and AI infrastructure, with a large market opportunity and customers increasingly adopting the broader platform, we will invest aggressively to position us for long-term growth and profitability.”

“We expect our free cash flow margin to be approximately 23.5% to 24%.”

“earnings per share in the range of $2.94 to $2.99, assuming a 23% tax rate and approximately $164 million fully-diluted shares.”

“operating profit in the range of $549 million to $559 million, earnings per share in the range of $2.94 to $2.99, assuming a 23% tax rate and approximately $164 million fully-diluted shares.”

“We expect our first-half mix to be approximately 39.3% to 39.5% of our full-year billings guide, revenue in the range of $2.623 billion to $2.643 billion, reflecting a year-over-year growth of 21% to 22%, operating profit in the range of $549 million to $559 million, earnings per share in the range of $2.94 to $2.99, assuming a 23% tax rate and approximately $164 million fully-diluted shares.”

“earnings per share in the range of $0.68 to $0.69, assuming a 23% tax rate and $163 million fully diluted shares.”

“Operating profit in the range of $126 million to $128 million, net other income of $18 million and earnings per share in the range of $0.68 to $0.69, assuming a 23% tax rate and $163 million fully diluted shares.”

“Overall, with strong execution in our account-centric sales motion, we expect to continue to grow the number of $1 million-plus and $5 million-plus customers at a strong pace.”

“We expect these trends to continue in Q2, strengthening our sales capacity heading into the second half of fiscal 2025.”

“We expect ZPA to continue to be one of our biggest growth drivers in fiscal 2025.”

“I believe it's a matter of time when all of our customers will buy ZIA, ZPA, and ZDX for every employee.”

“I would say the pace of hiring in fiscal '25 will be less than what it was in fiscal '24.”

“We do expect to increase headcount in fiscal '25.”

“Looking ahead, I do expect ZIA to continue growing, though it might not match ZPA's pace.”

“We expect our data center CapEx to be approximately 3 points higher as a percent of revenue compared to fiscal 2024, as we invest in upgrades to our cloud and AI infrastructure.”

“Earnings per share is projected to be in the range of $0.62 to $0.63, assuming 164 million fully diluted shares.”

“Operating profit is expected in the range of $114 million to $116 million, net other income of $18 million, and income taxes of $31 million.”

“For the first quarter, we expect revenue in the range of $604 million to $606 million, reflecting a year-over-year growth of approximately 22%, gross margins of 80%.”

“we expect to continue to be a modest cash taxpayer in fiscal 2025 with an estimated cash tax of approximately $45 million to $50 million.”

“The midpoint of our guidance implies year-over-year billings growth of approximately 13% in the first half, accelerating to 23% growth in the second half.”

“We expect first-half billings to be in the range of 39% to 39.5% of the full-year billings guide, with Q1 to be approximately 16.2% of the full-year billings guide.”

“We expect this large customer momentum to continue in fiscal '25.”

“In fiscal '25, we expect sales productivity to continue to improve with the second half stronger than the first.”

“In fiscal '25, we plan to continue hiring reps at a strong pace and expect attrition to further improve.”

“I am pleased with the contribution of AI analytics in fiscal '24, and with continued expansion of this solution, I expect its contribution to continue to grow.”

“we expect to achieve a new milestone of $3 billion or more in ARR in fiscal '25”

“I expect another strong year, which will move us closer to our goal of $5 billion in ARR.”

“With the right leaders, we have accelerated our pace of hiring quota-carrying reps in Q4.”

“I am not concerned about operating profitability; the model will increase profitability naturally as business slows down. The focus remains on top-line growth, and I foresee a slight increase in our operating profitability in FY25.”

“But we expect it to stabilize in Q4.”

“That said, new hires will take time to ramp to full productivity, which we believe will result in a few points of headwind to our total billings growth in fiscal '25.”

“I'd like to mention that the increased spend on the data center CapEx, which we'd originally planned for fiscal '24 is now planned for fiscal '25.”

“We expect our free cash flow margin to be in the low-to-mid 20%.”

“For the full-year fiscal 2024, we're increasing our guidance as follows: revenue in the range of $2.140 billion to $2.142 billion, reflecting year-over-year growth of approximately 32%, calculated billings in the range of $2.603 billion to $2.606 billion or year-over-year of approximately 28%, operating profit in the ranges of $422 million to $424 million, which reflects up to 490 basis points of operating margin improvement compared to last year, income taxes of approximately $32 million, earnings per share in the range of $2.99 to $3.01, assuming approximately 161 million fully diluted shares.”

“We expect demand to remain strong as an increasing number of enterprises are planning to adopt our platform for better cyber and data protection.”

“Over the next few years, we anticipate significant growth, adding somewhere in the $10 billion to $20 billion on top of the previously talked about $72 billion TAM.”

“With a large market opportunity and customers increasingly adopting the broader platform, we plan to continue to invest significantly to drive long-term growth while increasing profitability.”

“We continue to expect our data center CapEx to be high-single-digit percentage of revenue for the full year, reflecting the 3 to 4 percentage points headwind to free cash flow margins.”

“We expect our free cash flow margin to be up year-over-year and in the low-20% range.”

“Earnings per share in the range of $0.64 to $0.65, assuming 161 million fully diluted shares.”

“Operating profit in the range of $98 million to $100 million.”

“Gross margins of 80%.”

“This demonstrates the momentum in our business and we're increasing our outlook for revenue and billings for fiscal 2024.”

“I expect demand for Zero-Trust security to remain robust in 2024, and expect customer budgets for Zero-Trust to be up this year, particularly in light of the recent surge in the number of high-profile breaches.”

“I believe we will see more and more of our large enterprise customers reach $10 million ARR levels over time.”

“While good for our business, our increased success in selling bigger bundles, selling multiple pillars from the start, and faster upsells within a year can reduce our dollar-based net retention rate in the future.”

“I'm thrilled to have strong go-to-market leaders who we believe will drive world-class execution to scale our business beyond $5 billion in ARR.”

“I'd expect gross margins to be in that 78% to 82% range long-term; short-term, midterm, I'd expect them to be in the 80% gross margin range.”

“On our year-end call, we said we expect upsell to be above 60%. That's still our expectation for the year.”

“We have already closed over 10 Risk360 deals and are in active evaluations with over 100 enterprises. For these deals, we are getting six-figure ACV on average, and we expect to grow this value over time.”

“Workload communication often starts with small land deals, and we expect to rapidly expand to secure the growing number of workloads.”

“With our new CRO and CMO coming on board, we expect to step up our sales and marketing investments in the coming quarters.”

“We expect the timing of CapEx spend to be more towards the second half of the year as we invest in upgrades to our cloud and AI infrastructure.”

“We continue to expect our data center CapEx to be high single-digit percentage of revenue for the full year, reflecting a three to four percentage points of headwind to free cash flow margins.”

“We expect our free cash flow margin to be up year-over-year and in the low 20% range.”

“increased operating profit in the range of $360 million to $365 million, which reflects up to 250 basis points of operating margin improvement compared to last year;”

“We still expect our first half mix to be approximately 42% of our full year billings guide;”

“calculated billings in the range of $2.52 billion to $2.56 billion or year-over-year growth of 24% to 26%.”

“earnings per share in the range of $0.57 to $0.58, assuming $160 million fully diluted shares.”

“Operating profit in the range of $84 million to $86 million.”

“I feel that going forward, federal should be a good driver, and potentially a significant driver for Zscaler.”

“I would expect the billing duration to be similar to what we had in fiscal '23, so there will be no change.”

“I would expect ramps just to follow into fiscal '24, and I'd expect the same level of ramps in fiscal 2024 at this point.”

“Finally, we expect our data center CapEx to be a high single-digit percentage of revenue for the full year.”

“Operating profit in the range of $330 million to $340 million, which reflects approximately 100 basis points to 150 basis points of operating margin improvement compared to last year.”

“We also expect our first-half mix to be approximately 42% of our full-year billings guide.”

“Operating profit in the range of $70 million to $72 million, net other income of $14 million, income taxes of $8 million, earnings per share in the range of $0.48 to $0.49, assuming a fully diluted share count of 159 million.”

“We expect the impact of this change to be approximately a 50 basis point benefit to our gross margin for the full year.”

“We expect the net impact of ramps to be neutral to billings in fiscal 2024.”

“We expect emerging products' contribution to increase to over 20% in fiscal 2024.”

“I believe the comprehensive functionality of our Zero Trust Exchange platform, our strong execution and our customer-first approach, will enable us to navigate this macro backdrop and deliver on our guidance.”

“Yes, ramps. I would consider the same, quarter-over-quarter, just remember it is a tough compare last year; our billings growth was approximately, basically I think it was close to 60% billings growth.”

“Yes, I mean net retention rate is something we don't write to or look at. Our mix this year, we're expecting 40% to 60% new versus upsell.”

“Now, these things, while being enhanced for functionality, I expect us to have new SKUs, new products that will give us plenty of upsell opportunity.”

“So I expect AI/ML to expand our TAM.”

“We have a pretty good degree of engagement with those countries, and we expect to share more success with you next year and beyond.”

“Earnings per share in the range of $1.63 to $1.64 assuming approximately $156 million fully diluted share.”

“Our guidance reflects approximately 400 basis points of operating margin improvement compared to last year.”

“Operating profit in the range of $224 million to $225 million.”

“Calculated billings in the range of $1.974 billion to $1.978 billion, or year-over-year growth of 33% to 34%.”

“For the full year fiscal 2023, we expect revenue in the range of $1.591 billion to $1.593 billion, or year-over-year growth of approximately 46%.”

“Earnings per share of approximately $0.49, assuming $157 million fully diluted shares.”

“Operating profit in the range of $69 million to $70 million, net other income of $13 million, income taxes of $6 million.”

“Gross margins of approximately 80%.”

“For the fourth quarter of fiscal 2023, we expect revenue in the range of $429 million to $431 million, reflecting a year-over-year growth of 35% to 36%.”

“In our outlook for Q4, we intend to deliver operating margin expansion of more than 400 basis points year-over-year.”

“We continue to expect our datacenter CapEx to be around the high-single-digit percentage of revenue for the full year.”

“These emerging products are on track to meet our full-year target of high-teens percentage of new business.”

“we're on track to achieve our $5 billion ARR goal.”

“These emerging products are on track to meet or exceed our full-year target of contributing high-teens percentage of new business.”

“From my perspective, I think for this year, I think 60-40 is still the right metric to think about, 60% upsell and 40% new.”

“Moving forward, I anticipate back-end loaded linearity similar to what we've observed in the past few quarters, and I don't envision that changing.”

“I would expect it to continue at about the same pace in Q3 and Q4.”

“we expect our year-end headcount to be higher than the current headcount.”

“If we are growing revenue faster than 30%, you can expect less than 300 basis points of margin expansion in the year.”

“For Q3, we are assuming billings to decline by approximately 9% sequentially, compared to the mid-single digit percentage declines we have seen in the last few years.”

“operating profit in the range of $55 million to $56 million”

“operating profit in the range of $55 million to $56 million; net other income of $10 million; income taxes of $4.5 million; earnings per share of approximately $0.39, assuming 156 million fully diluted shares.”

“gross margins of approximately 80%”

“For the third quarter of fiscal 2023, we expect revenue in the range of $396 million to $398 million, reflecting a year-over-year growth of 38% to 39%”

“Most of the impact from these changes will be seen in Q3, and we will take a charge of $8 million to $10 million, including non-cash expenses.”

“We continue to expect data center CapEx to be around the high single-digit percentage of revenue for the full year.”

“Even though our current pipeline has grown and has more mature deals, we are assuming a slight deterioration in close rates.”

“We have accounted for further lengthening of sale cycles and the uncertain timing of large deals in our outlook.”

“As we enter the second half of fiscal 23, we are expecting customer cautiousness to continue.”

“We remain confident of reaching 20% to 22% operating margins in the long term.”

“Yes. Hey, Roger, they're tracking still to the high teens. So they're doing well. ZDX and our cloud protection products are tracking in the high teens for the year.”

“One thing to call out for fiscal 2023, Q3 is going to have headwinds, because in Q3 of last year, the duration was longer.”

“As we have discussed, if we're growing revenue faster than 30%, you can expect less than 300 basis points of margin expansion in the year.”

“We expect our first half mix of billings to be approximately 43% of our full year billings guide.”

“Earnings per share of $0.29 to $0.30, assuming 156 million fully diluted shares.”

“Gross margins of approximately 80%, operating profit in the range of $42 million to $43 million, net other income of $8 million, income taxes of $4.5 million.”

“For the second quarter of fiscal 2023, we expect revenue in the range of $364 million to $366 million, reflecting a year-over-year growth of 42% to 43%.”

“We continue to expect data center CapEx to be around the high single-digit percentage of revenue for the full year.”

“We believe we are still in the early innings of a significant market opportunity to enable secure digital transformation and achieve our $5 billion ARR goal.”

“We remain confident of reaching 20% to 22% operating margins in the long term with a huge market opportunity and customers increasingly adopting the broader platform, we'll continue our disciplined approach to managing our business to maximize value for our shareholders.”

“I expect us to do far better than first to the vendors out there.”

“In terms of the guidance for fiscal '23 regarding sales rep productivity, we expect it to be flat or slightly down.”

“Looking at the last two years, I do not anticipate any significant changes in our free cash flow margin and expect it to remain above 20%.”

“So really just for strategic purposes is that cash. And also from a free cash flow perspective in fiscal '23, I'd expect free cash flow margin to be 20% or above.”

“In our gross margin, we expect in fiscal '23 and also the midterm is 80%.”

“As we have discussed, if we are growing revenue faster than 30%, you can expect less than 300 basis points of margin expansion in the year.”

“With that in mind, we expect Q1 ‘23 billings to grow approximately mid-30% year-over-year.”

“Earnings per share of approximately $0.26, assuming 155 million fully-diluted shares.”

“Operating profit in the range of $37 million to $38 million.”

“gross margins of approximately 80%.”

“For the first quarter of fiscal 2023, we expect revenue in the range of $339 million to $341 million, reflecting a year-over-year growth of 47% to 48%; gross margins of approximately 80%.”

“In fiscal ‘23, in our guidance, we intend to deliver operating margin expansion of approximately 150 basis points.”

“We continue to expect data center CapEx to be around high-single-digit percent of revenue for the full year.”

“Including our new CNAPP and deception offerings in the Zscaler for Workloads pillar, we expect emerging products to contribute high-teens percentage of our total new business in fiscal 2023.”

“Emerging products contributed 14% of our new business in fiscal ‘22, and we expect continued growth in fiscal ‘23.”

“In addition, we expect our deep and wide platform together with our enviable customer base of large enterprises to continue to drive upsells.”

“We remain confident of reaching 20% to 22% operating margins in the long term.”

“From a long-term perspective, we expect gross margins between 78% and 82%.”

“we anticipate healthy margins through the marketplace.”

“we expect duration to fall within the normal 10 to 14 months range.”

“So our plan is to continue our pace of hiring, and should we find opportunities to increase that rate, we will do so.”

“what I can say is that our stock-based compensation as we move forward will decrease as a percentage of revenue.”

“Our free cash flow margin this year is projected to be 20%.”

“With a revenue growth outlook of 60% and free cash flow margin of 20%, we expect to operate at the Rule-of-80 for the full year.”

“free cash flow of $215 million, reflecting free cash flow margin of approximately 20% for the full year.”

“increasing our earnings per share to a range of $0.64 to $0.65 assuming approximately 147 million to 148 million fully diluted shares;”

“increasing our operating profit to a range of $106 million to $108 million,”

“increasing calculated billings to a range of $1.425 billion to $1.430 billion or year-over-year growth of approximately 53%,”

“For the full-year fiscal 2022, we are increasing our revenue guidance to approximately $1.078 billion or year-over-year growth of 60%,”

“earnings per share of $0.20 to $0.21, assuming approximately 146 million to 147 million fully diluted shares.”

“operating profit in the range of $33 million to $34 million.”

“gross margins of 79%.”

“For the fourth quarter of fiscal 2022, we expect revenue in the range of $304 million to $306 million, reflecting a year-over-year growth of 54% to 55%; gross margins of 79%.”

“We continue to expect data center CapEx to be around high-single-digit percent of revenue for the full year.”

“With our increased guidance today, we expect to achieve the Rule-of-80 for the full year.”

“our goal is to get to a $5 billion ARR company.”

“We don’t see any reason to slow down our growth.”

“I believe that over time every ZIA and ZPA customer will embrace ZDX as workforce productivity is one of the highest priorities for a CIO.”

“We're going to continue to do that and we're going to continue to hire across the company.”

“We believe we will disrupt workload-based security the same way we did for users with the ZIA, ZPA.”

“From my perspective, I just think it's prudent to think about free cash flow being slightly higher, by three, four, five percentage points higher than operating profitability.”

“earnings per share of $0.10 to $0.11 assuming 149 million to 150 million fully diluted shares.”

“Operating profit in the range of $19 million to $20 million.”

“We continue to expect CapEx as a percentage of revenue to be in the high single digits for the full year.”

“as we continue the path towards our next milestone of $5 billion in ARR.”

“We're certainly on pace to do that, and also in Q1, we had a near record quarter for RSM or field quota sales rep ads.”

“We expect to benefit from the infrastructure plan or during this fiscal year, and the executive order directive that came from the Biden administration early on, it’s actually helping.”

“We're going to continue to add aggressively throughout the year.”

“we expect operating margin to decline sequentially in Q3 before improving in Q4.”

“We now expect our first half mix to be approximately 43% to 44% of our full year billings.”

“earnings per share of approximately $0.11, assuming 150 million fully diluted shares.”

“Operating profit in the range of $20 million to $21 million, net loss on other income of $100,000, income taxes of $4 million, earnings per share of approximately $0.11, assuming 150 million fully diluted shares.”

“gross margins of 79%.”

“For the second quarter of fiscal 2022, we expect revenue in the range of $240 million to $242 million, reflecting a year-over-year growth of 53% to 54%, gross margins of 79%.”

“We continue to expect CapEx as a percentage of revenue to be high-single digits for the full year.”

“We remain confident about reaching 20 to 22% operating margins in the long term, but growth will continue to take priority considering our strong business momentum.”

“Our focus going forward will continue to include investments in sales and marketing, and we'll increase field sales rep headcount further in fiscal 2022 versus fiscal 2021.”

“We will be increasing the number of heads for field quota sales reps in fiscal 2022 versus fiscal 2021.”

“We expect to incur approximately $13 million to $15 million in operating expenses to further invest in these products and incorporate their technologies into our platforms.”

“As mentioned previously, the recent acquisitions of Trustdome and Smokescreen are expected to have an immaterial impact on revenue in fiscal 2022.”

“We expect expenses to be approximately 250 to 300 basis points higher in fiscal 2022 compared to fiscal 2021.”

“Earnings per share is expected to be approximately $0.12, assuming 148 million fully diluted shares.”

“Operating profit is projected in the range of $18 to $19 million, with other income of $400 thousand net of interest payments on senior convertible notes, and income taxes of $1.2 million.”

“For the first quarter of fiscal 2022, we expect revenue in the range of $210 million to $212 million, reflecting year-over-year growth of 47% to 49% with gross margins of 79%.”

“We are seeing strong customer interest and we expect emerging products to contribute a low-teens percentage of our total new and upsell business in fiscal 2022.”

“If we continue to see high growth and strong unit economics, we'll prioritize investing in the business, potentially leading to less than 300 basis points of margin expansion per year.”

“I believe our market share will continue to grow until there's a substantial shift in architecture.”

“I think it's a matter of time. Every employee of our customers will have ZIA, ZPA and actual ZDX as well.”

“Our performance surpassed our expectations, prompting us to raise our guidance for fiscal ‘21.”

“While we will balance growth and profitability, growth will continue to take priority considering our strong business momentum.”

“For your modeling purposes, we expect to incur approximately $13 million to $15 million in operating expenses related to the acquisitions in fiscal 2022.”

“The acquisitions of Trustdome and Smokescreen are expected to have an immaterial impact on revenue in Q4 and in fiscal 2022, as they are early stage companies.”

“earnings per share of $0.47 assuming approximately 145 million fully diluted shares.”

“operating profit in the range of $71 million to $72 million”

“earnings per share of $0.08 to $0.09, assuming approximately 146 million fully diluted shares.”

“operating profit in the range of $13.5 million to $14.5 million”