Summary by Futu AI
Zscaler delivered strong financial results for Q3 FY2024, with revenue increasing 32% year-over-year to $553.2 million. The company achieved GAAP operating profitability with net income of $19.1 million, compared to a net loss of $46.0 million in the same quarter last year. Gross margin improved to 79% from 77% in the prior year period.The company continued to demonstrate strong execution across its business, with calculated billings growing 30% year-over-year to $628.0 million. Operating cash flow was $173.4 million, representing 31% of revenue. Free cash flow margin expanded to 22% from 18% in Q3 FY2023, reflecting improved operational efficiency and strong collections.Looking ahead, Zscaler remains focused on innovation and market expansion, completing strategic acquisitions of Airgap Networks and Avalor Technologies during the quarter to enhance its cloud security platform capabilities. The company maintained its position as a leader in cloud security, serving over 7,700 customers including more than 640 of the Forbes Global 2000.
