8-K
filed March 2, 2023, 6:59 PM ET
ticker ZS
CIK 0001713683
earnings
confidence high
sentiment positive
materiality 0.80
Zscaler, Inc. (ZS): restructuring charge — Zscaler Q2 revenue up 52% to $387.6M, beats guidance; raises FY2023 outlook
Zscaler, Inc.
2023-Q2 EPS reported
-$0.87
revenue$743,146,000
- GAAP net loss narrowed to $57.5M from $100.4M; non-GAAP net income $57.6M vs $19.2M YoY.
- Non-GAAP EPS $0.37 vs $0.13 YoY; Q3 guidance non-GAAP EPS ~$0.39.
- Calculated billings $493.8M (+34% YoY); deferred revenue $1.11B (+46%).
- Announced ~3% workforce reduction with $8-10M restructuring charges in Q3.
- Acquired Canonic Security in Feb 2023 to bolster SaaS supply chain security.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Zscaler, Inc. reported second quarter of fiscal year 2023 ended January 31, 2023 results: revenue $387.6 million, net income $57.5 million, EPS $0.40.
- Period
- second quarter of fiscal year 2023 ended January 31, 2023
- Revenue
- $387.6 million
- Net income
- $57.5 million
- EPS
- $0.40
- Result
- reported results
Exact text from the filing
Second Quarter Fiscal 2023 Financial Highlights • Revenue: $387.6 million, an increase of 52% year-over-year.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Zscaler, Inc. reported full year fiscal 2023 results: revenue $1.558 billion to $1.563 billion. Guidance raised.
- Period
- full year fiscal 2023
- Revenue
- $1.558 billion to $1.563 billion
- Guidance
- raised
- Result
- guidance update
Exact text from the filing
For the full year fiscal 2023, we expect: • Total revenue of approximately $1.558 billion to $1.563 billion • Calculated billings of $1.935 billion to $1.945 billion • Non-GAAP income from operations of $213 mil
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Zscaler, Inc. reported third quarter of fiscal 2023 results: revenue $396 million to $398 million, EPS $0.39. Guidance raised.
- Period
- third quarter of fiscal 2023
- Revenue
- $396 million to $398 million
- EPS
- $0.39
- Guidance
- raised
- Result
- guidance update
Exact text from the filing
Financial Outlook For the third quarter of fiscal 2023, we expect: • Total revenue of $396 million to $398 million • Non-GAAP income from operations of $55 million to $56 million • Non-GAAP net income per share of approximately $0.39
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Zscaler, Inc.: Board adopted amended and restated bylaws updating advance notice procedures for director nominations and stockholder proposals, adding Rule 14a-19 compliance requirement, and making other conforming changes to Delaware law (effective 2023-02-28).
- Change
- bylaw amendment
- Effective
- 2023-02-28
Exact text from the filing
On February 28, 2023, the board of directors of the Company (the “Board”), acting upon the recommendation of the Board’s Nominating and Corporate Governance Committee, adopted amended and restated bylaws (the “Amended and Restated Bylaws”), which became immediately effective.
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Zscaler, Inc. announced a restructuring with charges of approximately $8.0 million to $10.0 million (approximately 3%).
- Type
- restructuring
- Charge
- approximately $8.0 million to $10.0 million
- Headcount
- approximately 3%
Exact text from the filing
3%. The reduction in workforce is expected to be substantially complete by the end of fiscal 2023. The Company expects to incur aggregate non-recurring charges of approximately $8.0 million to $10.0 million, consisting primarily of employee severance and benefit costs associated with the restructuring. The Company expects that most of these charges will be cash
View on SEC.gov
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