Filing Flows › Zscaler (ZS) › Guidance history
Zscaler (ZS) guidance history: what it guided and what it reported
Zscaler gave guidance in 12 earnings releases on file since Nov 27, 2023. Of 9 guided periods since reported, it met or beat its own guidance 9 times (100%). Revenue: 9 of 9, on average +1.7% against the guided midpoint. Its releases raised guidance twice and lowered it once.
Revenue
Met or beat 9 of 9 periods (7 above, 2 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | $3.9B–$3.9B (Sep 3, 2026) | — | to be reported | — |
| Q1 FY27 | $935M–$939M (Sep 3, 2026) | — | to be reported | — |
| Q4 FY26 | $875M–$878M (May 26, 2026) | $898M | above the range | +2.5% |
| FY26 | $3.3B–$3.3B (Sep 2, 2025) → raised $3.3B–$3.3B (Nov 25, 2025) → raised $3.3B–$3.3B (Feb 26, 2026) → raised $3.3B–$3.3B (May 26, 2026) | $3.4B | within the range | +0.7% |
| Q3 FY26 | $834M–$836M (Feb 26, 2026) | $850M | above the range | +1.9% |
| Q2 FY26 | $797M–$799M (Nov 25, 2025) | $816M | above the range | +2.2% |
| Q1 FY26 | $772M–$774M (Sep 2, 2025) | $788M | above the range | +1.9% |
| Q4 FY25 | $705M–$707M (May 29, 2025) | $719M | above the range | +1.9% |
| FY25 | $2.6B–$2.6B (Sep 3, 2024) → raised $2.6B–$2.6B (Dec 2, 2024) → raised $2.6B–$2.7B (Mar 5, 2025) → raised $2.7B–$2.7B (May 29, 2025) | $2.7B | within the range | +0.5% |
| Q3 FY25 | $665M–$667M (Mar 5, 2025) | $678M | above the range | +1.8% |
Adjusted gross margin
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | 80.0% (Sep 3, 2026) | — | to be reported | — |
| Q1 FY27 | 80.0% (Sep 3, 2026) | — | to be reported | — |
| Q4 FY26 | 80.0% (May 26, 2026) | — | — | — |
Adjusted operating income
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | $924M–$932M (Sep 3, 2026) | — | to be reported | — |
| Q1 FY27 | $215M–$217M (Sep 3, 2026) | — | to be reported | — |
| Q4 FY26 | $206M–$208M (May 26, 2026) | — | — | — |
| Q3 FY26 | $187M–$189M (Feb 26, 2026) | — | — | — |
| Q2 FY26 | $172M–$174M (Nov 25, 2025) | — | — | — |
| FY26 | $728M–$736M (Sep 2, 2025) → raised $732M–$740M (Nov 25, 2025) → raised $742M–$748M (Feb 26, 2026) → raised $755M–$757M (May 26, 2026) | — | — | — |
| Q1 FY26 | $166M–$168M (Sep 2, 2025) | — | — | — |
| Q4 FY25 | $152M–$154M (May 29, 2025) | — | — | — |
| Q3 FY25 | $140M–$142M (Mar 5, 2025) | — | — | — |
| Q2 FY25 | $126M–$128M (Dec 2, 2024) | — | — | — |
Adjusted tax rate
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | 21.0% (Sep 3, 2026) | — | to be reported | — |
| Q1 FY27 | 21.0% (Sep 3, 2026) | — | to be reported | — |
| Q4 FY26 | 21.0% (May 26, 2026) | — | — | — |
| Q3 FY26 | 21.0% (Feb 26, 2026) | — | — | — |
| Q2 FY26 | 21.0% (Nov 25, 2025) | — | — | — |
| FY26 | 23.0% (Sep 2, 2025) → lowered 21.0% (Nov 25, 2025) → reaffirmed 21.0% (Feb 26, 2026) → reaffirmed 21.0% (May 26, 2026) | — | — | — |
| Q1 FY26 | 23.0% (Sep 2, 2025) | — | — | — |
| Q4 FY25 | 23.0% (May 29, 2025) | — | — | — |
| Q3 FY25 | 23.0% (Mar 5, 2025) | — | — | — |
| Q2 FY25 | 23.0% (Dec 2, 2024) | — | — | — |
Adjusted EPS
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | $4.86–$4.90 (Sep 3, 2026) | — | to be reported | — |
| Q1 FY27 | $1.15–$1.16 (Sep 3, 2026) | — | to be reported | — |
| Q4 FY26 | $1.08–$1.09 (May 26, 2026) | — | — | — |
| Q3 FY26 | $1.00–$1.01 (Feb 26, 2026) | — | — | — |
| Q2 FY26 | $0.89–$0.90 (Nov 25, 2025) | — | — | — |
| FY26 | $3.64–$3.68 (Sep 2, 2025) → raised $3.78–$3.82 (Nov 25, 2025) → raised $3.99–$4.02 (Feb 26, 2026) → raised $4.10–$4.11 (May 26, 2026) | — | — | — |
| Q1 FY26 | $0.85–$0.86 (Sep 2, 2025) | — | — | — |
| Q4 FY25 | $0.79–$0.80 (May 29, 2025) | — | — | — |
| Q3 FY25 | $0.75–$0.76 (Mar 5, 2025) | — | — | — |
| Q2 FY25 | $0.68–$0.69 (Dec 2, 2024) | — | — | — |
The latest quarter
Zscaler, Q4 FY26: revenue $898M (+25% year over year), operating margin -1.7%, net loss $3.4M, operating cash flow $279M. The chart follows the revenue to costs, profit and cash.
Questions
Does Zscaler beat its guidance?
Zscaler gave guidance in 12 earnings releases on file since Nov 27, 2023. Of 9 guided periods since reported, it met or beat its own guidance 9 times (100%). Revenue: 9 of 9, on average +1.7% against the guided midpoint.
How often does Zscaler raise guidance?
Its earnings releases raised guidance twice and lowered it once since Nov 27, 2023.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.