Short answer
Zscaler (ZS) filed its Q4 2025 10-Q quarterly report on Nov 25, 2025 for the quarter ended Oct 31, 2025. Quarterly revenue was $788M (up 25.5% year over year) with net income of −$12M.
Q4 2025 key financials · XBRL
- Revenue
- $788M
- +25.5% YoY
- Net income
- −$12M
- +3.6% YoY
- Operating margin
- -4.6%
- Gross margin
- 76.6%
- EPS (diluted)
- −$0.07
- +12.5% YoY
Source: XBRL data from the Zscaler (ZS) Q4 2025 10-Q on SEC EDGAR. USD.
Zscaler Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Risk Factors
- No newly added risk factors explicitly identified this quarter; risk descriptions mostly reaffirm prior disclosures
- Most materially updated risk: impact of adoption rate of AI technologies on platform traffic and growth, highlighting potential scalability challenges with increased usage
- Legal risk: new EU Data Act provisions allow customers to cancel subscriptions without cause on short notice (30-60 days), increasing subscription renewal uncertainty
- Operational risk: dependence on channel partners, with top five partners accounting for 28% of fiscal 2025 revenue, emphasizing risk from partners’ sales performance and conduct
- Financial risk: accumulated deficit of $1,201.2 million as of October 31, 2025, reflecting ongoing net losses ($41.5 million in fiscal 2025) and risk to achieving sustained profitability
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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