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Nasdaq · Technology

Zscaler, Inc. (ZS)

As-reported financials and SEC filings for Zscaler, Inc. The latest annual period is FY2026. The latest reported quarter is Q4 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Zscaler, Inc.

Zscaler, Inc. provides cloud-native cybersecurity solutions designed to secure users, devices, applications, and workloads through a Zero Trust Exchange platform. Its main products include Zscaler Internet Access, which secures access to external applications and internet destinations, and Zscaler Private Access, which provides secure access to internal applications. The company serves large enterprises and government agencies across various industries worldwide, helping them protect data and accelerate digital transformation.

Snapshot

Revenue
$3.35B
Revenue growth (YoY)
25.4%
Net income
$-63.2M
Diluted EPS
$-0.39
Gross margin
76.8%
Operating margin
-4.0%
Net margin
-1.9%
FCF margin
25.4%
ROE
-2.4%
net income / fiscal-year-end equity
P/E
n/m
not meaningful: a reported loss in the fiscal year or the trailing twelve months
Market cap
$33.81B
Long-term debt / equity
—
non-current term debt only

Fundamentals are from SEC filings for FY2026, the latest annual period (ended July 31, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Zscaler

  • Revenue grew 25.4% to $3.4B in FY2026, faster than the 23.3% the year before.
  • Operating margin is -4.0% in FY2026, +26.0 pp against -30.0% in FY2022.
  • Most recent quarter Q4 FY2026: revenue $898M, up 24.9% from Q4 FY2025.
  • Free cash flow was $852M in FY2026, 25.4% of revenue.
  • Net loss widened to $63M in FY2026, from $41M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Zscaler’s fundamentals sit among the 627 Technology companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin76.8%
85th percentile of 512
Operating margin-4.0%
34th percentile of 564
Net margin-1.9%
39th percentile of 577
FCF margin25.4%
83rd percentile of 545
Revenue growth (YoY)+25.4%
79th percentile of 618
ROE-2.4%
38th percentile of 546
Short interest1.80d
23rd percentile of 624

Zscaler’s gross margin of 76.8% ranks in the 85th percentile of the 512 Technology companies reporting it.

No reported insider purchases (code P) in the last 90 days; 34 insider sales totaling $12.0M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+6 quant / multi-strat
Initiated / added
5
1 new, 4 added
Reduced / exited
4
3 trimmed, 1 exited
Combined position
$535.7M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$192.4M1.4MAdded
Millennium ManagementquantQ2 2026$159.5M1.1MAdded
Citadel AdvisorsquantQ2 2026$142.4M1.0MAdded
D. E. ShawquantQ2 2026$36.3M257.0KAdded
Bridgewater AssociatesQ2 2026$2.4M16.9KNew
Gotham Asset ManagementQ2 2026$1.8M12.8KReduced
Renaissance TechnologiesquantQ2 2026$550,4853.9KReduced
Two Sigma InvestmentsquantQ2 2026$414,9812.9KReduced

No longer held by: Tiger Global Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
34
$12.0M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-12
filed 2026-10-13
Adam GellerChief Product OfficerSell1.0K$235.95$246K
2026-10-09
filed 2026-10-13
Adam GellerChief Product OfficerSell21.9K$225.00$4.9M
2026-10-09
filed 2026-10-13
Adam GellerChief Product OfficerSell2.1K$230.00$479K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell189$195.64$37K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell118$196.57$23K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell100$194.76$19K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell36$203.15$7K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell20$205.35$4K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell20$201.11$4K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell12$204.42$2K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell9$199.71$2K
2026-09-25
filed 2026-09-28
Kevin RubinChief Financial OfficerSell5$202.06$1K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
5.8M
settled 2026-09-30
Change vs prior
-10.8%
vs previous settlement
Days to cover
1.80
at avg daily volume
Avg daily volume
3.2M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-305.8M-10.8%1.80
2026-09-156.5M+2.3%1.47
2026-08-316.4M+2.0%2.92
2026-08-146.2M-16.0%2.74
2026-07-317.4M-7.8%3.63
2026-07-158.0M-2.8%2.84
2026-06-308.3M-30.2%1.93
2026-06-1511.9M-1.6%2.22

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2026FY2025FY2024FY2023FY2022
Revenue$3.35B$2.67B$2.17B$1.62B$1.09B
Gross profit
Operating income$-133.3M$-128.5M$-121.5M$-234.6M$-327.4M
Net income$-63.2M$-41.5M$-57.7M$-202.3M$-390.3M
Diluted EPS$-0.39$-0.27$-0.39$-1.40$-2.77

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2026FY2025FY2024FY2023FY2022
Cash and equivalents$928.4M$2.39B$1.42B$1.26B$1.01B
Current assets$5.03B$4.89B$3.40B$2.89B$2.26B
Total assets$7.87B$6.42B$4.70B$3.61B$2.83B
Current liabilities$2.96B$2.43B$3.11B$1.54B$1.13B
Long-term debt——$1.14B$1.13B$968.7M
Total liabilities$5.27B$4.62B$3.43B$2.88B$2.26B
Total equity$2.60B$1.80B$1.27B$725.1M$573.3M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2026FY2025FY2024FY2023FY2022
Operating cash flow$1.13B$972.5M$779.8M$462.3M$321.9M
Capital expenditure$277.3M$164.3M$144.6M$97.2M$69.3M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q4 FY202624.9%
Q3 FY2026$850.5M25.4%$-13.9M$-0.09
Q2 FY2026$815.8M25.9%$-34.3M$-0.21
Q1 FY2026$788.1M25.5%$-11.6M$-0.07
Q4 FY202521.3%
Q3 FY2025$678.0M22.6%$-4.1M$-0.03
Q2 FY2025$647.9M23.4%$-7.7M$-0.05
Q1 FY2025$628.0M26.4%$-12.1M$-0.08

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industryServices-Computer Programming Services
Latest annual periodFY2026 (ended July 31, 2026)
Latest reported quarterQ4 FY2026 (ended July 31, 2026)
Oldest indexed filing2017
SEC CIK1713683

Selected SEC filings

10-K2026-09-03
View on EDGAR →
10-K2025-09-11
View on EDGAR →
10-Q2026-05-26
View on EDGAR →
10-Q2026-02-26
View on EDGAR →
10-Q2025-11-25
View on EDGAR →
10-Q2025-05-29
View on EDGAR →
8-K2026-10-06
View on EDGAR →
8-K2026-09-24
View on EDGAR →

Largest Technology peers

All Technology companies →

ZS head to head

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.