Investor Overview

100% cloud-based SaaS subscription business model

Key Metrics

Leader in
Cloud Security

$2.0B+

Annual Recurring
Revenue

Strong Growth and Cash Flow:
Above “Rule-of-40”

48%

(FY’23)

Revenue Growth
Year-Over-Year

+
21%

(FY’23)

Free Cash
Flow Margin

Highly Scalable
Cloud Economics

81%

(FY’23, Non-GAAP)

Gross Margin

Proven Land &
Expand Model

>120%

Dollar Based
Net Retention

Latest Quarterly Results

Latest Quarterly Results

$318M

Q4’22

$455M

Q4’23

43% Revenue
Growth

$520M

Q4’22

$719M

Q4’23

38% Billings
Growth

$2.6B

Q4’22

$3.5B

Q4’23

35% RPO
Growth

449

Customers $1M+ ARR

37%

Growth

2,609

Customers $100K+ ARR​

25%

Growth

30%+

Of the
GLOBAL 2000

40%+

Of the
FORTUNE 500

19%

Non-GAAP
Operating Margin

81%

Non-GAAP
Gross Margin

>120%

Dollar-Based Net
Retention Rate

$2.1B

Cash & Short-
Term Investments

"We concluded our fiscal year with strong top line growth and record operating profits. In less than two years, we doubled our annual recurring revenue, surpassing the $2 billion milestone. With cyber security as a high priority, IT executives are modernizing their legacy network security with our zero-trust architecture. Our customers are realizing tremendous value from the new services and advanced capabilities delivered on our Zero Trust Exchange™ platform. We will continue to invest to delight our customers with more product innovations to capture the large opportunities ahead of us."

Jay Chaudhry

Jay Chaudhry

Chairman and CEO of Zscaler

Zscaler Built From Scratch

Cloud Edge Architecture
+ Control Plane
+ Enforcement Plane
+ Logging Plane

A highly scalable and ultra-fast multi-tenant cloud security architecture

  • Over 400 patents issued and pending
  • Multi-tenant architecture
  • Distributed across 150+ edge locations
  • Direct peering with the largest Internet destinations
Explore our infographic

Control plane

Zscaler Central Authority (CA) monitors our entire security cloud and provides a central location for software and database updates, policy and configuration settings and threat intelligence. The collection of CA instances together act like the brain of the cloud, and they are geographically distributed for redundancy and performance.

Data plane

Customer traffic gets directed to the nearest Zscaler Enforcement Node (ZEN), where security, management and compliance policies are enforced. Our differentiated authentication and policy distribution mechanism that enables any user to connect to any ZEN at any time to ensure full policy enforcement. ZEN utilizes a full proxy architecture for in-line traffic inspection and is built to ensure data is not written to disk to maintain the highest level of data security. Logs are continuously created in memory and forwarded to our logging module.

Log Plane

Compressed logs are transmitted to our Nanolog Servers over secure connections and multicast to multiple servers for redundancy. Our dashboards provide visibility into our customer’s traffic to enable troubleshooting, policy changes and other administrative actions. Our analytics capabilities allow customers to interactively mine billions of transaction logs to generate reports that provide insight on network utilization and traffic. Regardless of where users are located, customers can choose to have logs stored in the US, the EU or Switzerland as well as streamed to a third-party SIEM.

Platform Extensibility with SSMA

The Zscaler Zero Trust Exchange employs a single-scan, multi-action (SSMA) architecture to minimize latency, improve user experience, and enable an integrated, extensible platform.

Single-Scan

Traffic is entered into memory only once

Multi-Action

Multiple security engines simultaneously inspect the packet

Extensibility

New inspection engines can be added over time, without impacting performance

Single Scan Multi-Action Flow
SSL Inspection

SSL/TLS Inspection at Scale
with Proxy Architecture

Zscaler has invested heavily into building a ‘proxy' based architecture that deeply inspects network traffic at an enormous scale, including SSL/TLS encrypted traffic. Think about it like a postal service.

Zscaler

Stop every envelope, open and inspect the contents…
if all is safe, then seal the envelope and send to recipient

Next-Gen Firewall

As an envelope passes, read the shipping label…
if it seems OK, then let it flow past

Industry Reports & Corporate Presentations

Data Sheet

Investor Data Sheet

Data Sheet

Zscaler SASB Data Table

eBook

Seven Elements of Highly Successful Zero Trust Architecture

Industry Report

Gartner Report: Magic Quadrant for Security Service Edge

Industry Report

Gartner Market Guide for Zero Trust Network Access (ZTNA)