Operations
As of September 5, 2026
Q4 Revenue
↑ 25% YoY
$898.2M
Divisions
Zscaler
100.0%
Key Earnings Driver: Z-Flex
Zscaler revenue increased 25% year over year to $898.2M. Within Zscaler, Z-Flex TCV exceeded $770M in Q4, increasing more than 60% quarter over quarter, and exceeded $1.7B for FY2026. Management cited increasing contribution from non-seat-based solutions and continued Z-Flex momentum.
Key Operating Metrics¹
METRIC
STATUS
Zscaler
🟢 Scaling
Z-Flex
🟢 Scaling
Key Financial Metrics
Gross Margin
77.00%
+1 pp YoY
Backlog / Rev.
819.8%
8.19x Qtr Rev
CapEx Intensity
22.25%
0.22x Revenue
Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.