On 24 February 2022, Zscaler Inc (ZS) announced the fiscal performance for its Q2 of FY22. As a result, the stock plunged in the after-market, losing 14.91% to $224.11.
The stock of ZS closed the regular trading session at $263.38, 10.02% more than the previous trading session. Zscaler Inc (ZS) filed for the Form 8-K with SEC to reveal the financial outcome, on February 24, 2022.
Zscaler is a cloud security organization and a forerunner in zero trust. The company’s engineering is intended to permit clients and gadgets to securely get to approved applications and services in the cloud involving the Internet as a network medium. Moreover, ZS has a market capitalization of $36.89 billion with 140.8 million stocks pending. Zscaler has its headquarter in San Jose, California, United States of America (USA).
ZS Q2 2022
The key features of the financial outcome for Q2 are
- ZS posted the sales of $255.5 million in Q2 of FY22 versus $157.04 million in Q2 of FY21. Sales posted a growth of 62.7%.
- Moreover, the company had a net loss of $100.4 million in Q2 of FY22 against $67.5 million in Q2 of FY21. The net loss marks an increase of 48.6%.
- Diluted loss per stock in Q2 of FY22 was $0.71 while in Q2 of FY21 loss per stock was $0.50.
- Besides, the operational loss for the company grew by 55.7% from $83.9 million in Q2 of FY22 versus $53.8 in the year-ago quarter.
- Further, Zscaler’s total profit expanded by 60.9%. ZS earned a total profit of $197.7 million in Q2 of FY22 versus $122.9 in Q2 of FY21.
ZS fiscal direction for Q3 2022
The company anticipates the total revenue in Q3 of FY22 to be in the range of $270 million and $272 million. Moreover, ZS estimates an income of $0.10 – $0.11 per stock.
CEO Remarks
The CEO of Zscaler, Jay Chaudhry, stated that they delivered a solid outcome for the second quarter. He further added that the YoY revenue growth reached the highest level in three years.
