Zscaler Q4 FY26 revenue up 25% to $898M; non-GAAP EPS $1.19; guides FY27 revenue ~$3.9B

Zscaler, Inc.

Q4 revenue $898.2M (+25% YoY); ARR $3,771M (+25%); net new ARR $246M; ex-Red Canary ARR +20%.
Non-GAAP operating margin record 24% ($218.4M); GAAP net loss $3.4M; non-GAAP EPS $1.19 vs $0.89.
FY26 revenue $3,353M (+25%); non-GAAP EPS $4.21; FCF $779M (23% margin).
Q1 FY27 guidance: revenue $935-939M (~19% growth); FY27 ARR $4.396-4.426B (+16.6-17.4%).
Restructuring: ~3% headcount cut, $30-33M charges in H1 FY27 to fund AI initiatives.

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