Zoom Communications, Inc. (ZM) SEC Filings & Earnings Calls
EquiReason read 12 Zoom Communications, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-09-02 — Zoom appointed Jeff Epstein (former Oracle CFO, Bessemer Operating Partner) to Board of Directors; Jonathan Chadwick to retire after nearly 10 years..
Source: SEC EDGAR filings · figures as of 2026-07-31 · read by EquiReason
- Market cap
- 28.0B
- P/E TTM
- 8.9
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 23 Nov, in 30 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
26 Aug 202610-QZoom reported Q2 FY2027 results with revenue of $1.277B (+4.9% YoY), net income of $1.542B (including $1.613B unrealized gain on Anthropic investment), and gross margin of 77.2% (-40bps YoY).earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q2-2027 | $1.28B | +5% y/y |
| Net income · Q2-2027 | $1.54B | +330% y/y |
| Gross margin · Q2-2027 | 77.2% | |
| Free cash flow · H1-2027 | $973M | +0% y/y |
| Operating cash flow · H1-2027 | $1.02B | +1% y/y |
| Remaining performance obligations · 2026-07-31 | $4.54B | |
| Enterprise customers >$100k TTM · 2026-07-31 | 4,625 | +8% y/y |
| Net dollar expansion rate · Enterprise · TTM-2026-07-31 | 99.0% | |
| Online average monthly churn · Online · Q2-2027 | 2.9% | |
| Enterprise revenue as % of total · Enterprise · Q2-2027 | 61.7% |
Risks flagged
AI-related cost pressure on gross margin
“The increase was primarily due to a $24.4 million increase in third-party hosting costs, primarily driven by increased platform usage, including growth in AI-related consumption from the launch of new products.” · word for word
Ongoing DOJ investigation (EDNY)
“The EDNY investigation is ongoing, and a negative outcome in this matter could cause us to incur substantial fines, penalties, or other financial exposure, as well as reputational harm.” · word for word
Macroeconomic uncertainty impacting enterprise spending
“These dynamics, together with shifts in customers' internal priorities, including budget realignment and evolving investment focus, have contributed to variability in sales cycles and continued caution in enterprise spending decisions.”
Net dollar expansion rate below 100%
“Over the past few years, macroeconomic headwinds resulted in slower hiring and higher seat count downsells from our existing Enterprise customers in key markets, which impacted the rate of expansion and caused our net dollar expansion rate for Enterprise customers to drop below one hundred percent.” · word for word
25 Aug 20268-K · 2.02Zoom reported Q2 FY27 revenue $1,277.2M (+4.9% YoY), Enterprise revenue $787.5M (+7.8% YoY), GAAP net income $1,542.4M ($5.15 EPS), non-GAAP EPS $1.55. Raised FY27 revenue guidance to $5.085-5.095B.earningsopen
Figures in the filing · each found in the filing text
| Total revenue · Q2-2027 | $1.28B | +5% y/y |
| Enterprise revenue · Enterprise · Q2-2027 | $788M | +8% y/y |
| Online revenue · Online · Q2-2027 | $490M | +1% y/y |
| GAAP operating margin · Q2-2027 | 24.6% | |
| Non-GAAP operating margin · Q2-2027 | 40.0% | |
| GAAP net income · Q2-2027 | $1.54B | +330% y/y |
| Non-GAAP diluted EPS · Q2-2027 | $1.55 | +1% y/y |
| Free cash flow · Q2-2027 | $472M | -7% y/y |
| Customers >$100k TTM revenue · Enterprise · Q2-2027 | 4,625 | +8% y/y |
| TTM net dollar expansion rate (Enterprise) · Enterprise · Q2-2027 | 99.0% |
Guidance
FY27 total revenue raised to $5.085-5.095B; Q3 FY27 revenue $1.275-1.280B; FY27 non-GAAP operating income $2.065-2.075B; FY27 non-GAAP diluted EPS $6.08-6.12; FY27 free cash flow $1.780-1.820B
Raised full-year revenue guidance reflecting enterprise momentum and AI adoption
Risks flagged
Online revenue growth deceleration to 0.6% YoY signals mature consumer segment
“Online revenue was $489.7 million, up 0.6% year over year” · word for word
Free cash flow declined 7% YoY despite revenue growth
“Free cash flow ... was $472.4 million, compared to $508.0 million” · word for word
28 Jul 20268-K · 5.02Reported a director or officer change (departure, election, appointment or pay arrangement)open
Risks flagged
Board departure may indicate governance changes
“William R. McDermott resigned from the board”
21 May 20268-K · 2.02Total revenue $1.24B (+6% y/y); Enterprise revenue $756M (+7% y/y); Online revenue $483M (+3% y/y); Guidance: Q2 FY2027 revenue $1.265B-$1.270B; FY2027 revenue $5.080B-$5.090Bearningsopen
Figures in the filing · each found in the filing text
| Total revenue · Q1-2027 | $1.24B | +6% y/y |
| Enterprise revenue · Enterprise · Q1-2027 | $756M | +7% y/y |
| Online revenue · Online · Q1-2027 | $483M | +3% y/y |
| GAAP operating margin · Q1-2027 | 25.1% | |
| Non-GAAP operating margin · Q1-2027 | 41.1% | |
| GAAP net income · Q1-2027 | $426M | |
| Non-GAAP net income · Q1-2027 | $465M | |
| GAAP diluted EPS · Q1-2027 | $1.42 | |
| Non-GAAP diluted EPS · Q1-2027 | $1.55 | |
| Free cash flow · Q1-2027 | $501M |
Guidance
Q2 FY2027 revenue $1.265B-$1.270B; FY2027 revenue $5.080B-$5.090B
Revenue guidance raised for Q2 and full year, reflecting continued momentum; margin expansion expected; strong cash flow supports buyback.
Risks flagged
Online churn increased to 3.0% from 2.8% YoY, indicating potential competitive pressure or market saturation in the SMB segment.
“Online average monthly churn of 3.0% for the first quarter, compared to 2.8% in the same quarter last fiscal year” · word for word
30 Apr 2026DEF 14ARevenue $4.87B (+4% y/y); GAAP Income from Operations $1.12B; Non-GAAP Income from Operations $1.97Bopen
Figures in the filing · each found in the filing text
| Revenue · FY2026 | $4.87B | +4% y/y |
| GAAP Income from Operations · FY2026 | $1.12B | |
| Non-GAAP Income from Operations · FY2026 | $1.97B | |
| Net Cash Provided by Operating Activities · FY2026 | $1.99B | |
| CEO Bonus Target as % of Base Salary · FY2026 | 64.0% | |
| Performance Cash Incentive Payout % · FY2026 | 102.6% | |
| CEO to Median Employee Pay Ratio · FY2026 | $7.80 | |
| Say-on-Pay Approval % · FY2025 | 81.0% |
Risks flagged
Key executive departure
“On April 2, 2026, the Company announced that Ms. Bawa resigned from her role at the Company effective May 8, 2026.” · word for word
Stock-based compensation expense
“Stock-based compensation expense and related payroll taxes of $797 million in FY2026, down from $967 million in FY2025.” · word for word
2 Apr 20268-K · 5.02Reported a director or officer change (departure, election, appointment or pay arrangement)open
Risks flagged
Loss of a key operating executive could affect execution and strategic continuity.
“COO resignation without stated disagreement, but departure of a senior leader.”
25 Feb 20268-K · 2.02Total revenue $1.25B (+5% y/y); Total revenue $4.87B (+4% y/y); Enterprise revenue $757M (+7% y/y)earningsopen
Figures in the filing · each found in the filing text
| Total revenue · Q4-2026 | $1.25B | +5% y/y |
| Total revenue · FY2026 | $4.87B | +4% y/y |
| Enterprise revenue · Enterprise · Q4-2026 | $757M | +7% y/y |
| Enterprise revenue · Enterprise · FY2026 | $2.93B | +7% y/y |
| Online revenue · Online · Q4-2026 | $490M | +3% y/y |
| Online revenue · Online · FY2026 | $1.93B | +1% y/y |
| GAAP net income · Q4-2026 | $674M | +83% y/y |
| GAAP net income · FY2026 | $1.90B | +88% y/y |
| Non-GAAP net income per share · Q4-2026 | $1.44 | +2% y/y |
| Non-GAAP net income per share · FY2026 | $5.92 | +7% y/y |
25 Nov 202510-QZoom filed a 10-Q quarterly report; no specific earnings beat or miss is stated in the provided text.earningsopen
Risks flagged
Customer Renewal Risk
“Customers may not renew their subscriptions after their existing subscriptions expire.”
Competitive Pressure
“We have been forced to engage in price-cutting initiatives or other discounts to attract and retain customers in response to competitive pressures.” · word for word
AI Investment Risk
“If such benefits are not realized, the associated investment costs could further negatively impact our margins.” · word for word
24 Nov 20258-K · 2.02Total revenue $1.23B (+4% y/y); Enterprise revenue $741M (+6% y/y); Online revenue $488M (+2% y/y); Guidance: Full-year FY2026 revenue guidance raised to $4.852-$4.857B; non-GAAP EPS $5.95-$5.97; free cash flow $1.860-$1.880Bearningsopen
Figures in the filing · each found in the filing text
| Total revenue · Q3-2026 | $1.23B | +4% y/y |
| Enterprise revenue · Enterprise · Q3-2026 | $741M | +6% y/y |
| Online revenue · Online · Q3-2026 | $488M | +2% y/y |
| GAAP operating margin · Q3-2026 | 25.2% | |
| Non-GAAP operating margin · Q3-2026 | 41.2% | |
| GAAP diluted EPS · Q3-2026 | $2.01 | +205% y/y |
| Non-GAAP diluted EPS · Q3-2026 | $1.52 | +10% y/y |
| Operating cash flow · Q3-2026 | $629M | +30% y/y |
| Free cash flow · Q3-2026 | $614M | +34% y/y |
| Customers >$100k TTM · Enterprise · Q3-2026 | 4,363 | +9% y/y |
Guidance
Full-year FY2026 revenue guidance raised to $4.852-$4.857B; non-GAAP EPS $5.95-$5.97; free cash flow $1.860-$1.880B
Zoom raised full-year guidance across revenue, profitability, and cash flow, reflecting confidence in sustained demand and operational discipline.
Risks flagged
Enterprise net dollar expansion rate below 100% (98%) indicates potential upselling/cross-selling challenges.
“A trailing 12-month net dollar expansion rate for Enterprise customers of 98%” · word for word
Online revenue growth deceleration (2.0% YoY) and flat churn suggest limited pricing power in consumer segment.
“Online revenue was $488.4 million, up 2.0% year over year... Online average monthly churn of 2.7%... flat year over year” · word for word
Zoom Communications, Inc. — questions
- What did Zoom Communications, Inc. file recently?
- 12 SEC filings in the last 12 months. Latest: 8-K on 2026-09-02 — Zoom appointed Jeff Epstein (former Oracle CFO, Bessemer Operating Partner) to Board of Directors; Jonathan Chadwick to retire after nearly 10 years.
Every figure on this page comes from Zoom Communications, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.