Filing Flows › Zscaler (ZS) › Q4 FY26
Zscaler (ZS) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Sep 3, 2026
Zscaler (ZS) reported revenue of $898M for the fourth quarter fiscal 2026 (Q4 FY26), +25% from a year earlier and +6% from the quarter before. Operating margin was -1.7%, net loss $3.4M (0.4% of revenue).
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.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $898M | +6% | +25% |
| Operating profit | −$15.5M | — | — |
| Net earnings | −$3.4M | — | — |
| Operating cash flow | $279M | +41% | +11% |
| Free cash flow | $79.4M | -49% | -58% |
What changed
Revenue was $898.2M in Q4 FY26, up 25% year over year and up 6% from the previous quarter.
Gross margin was 76.7%, up 0.7 points from Q4 FY25. Operating costs exceeded revenue by $15.5M, an operating margin of -1.7%. Operating expenses grew 22% against revenue growth of 25%. The fastest-growing cost line was Research & development (+36%). The quarter ended with a net loss of $3.4M, narrower than the previous quarter's $13.9M loss. Non-operating items added $30.4M, 204% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $279.3M (up 11% year over year). Non-cash charges added back $42.9M of depreciation and amortization and $211.6M of share-based compensation. Working capital and other items added $28.1M. Capital expenditures of $199.8M left free cash flow of $79.4M.
Questions
What was Zscaler's revenue in the fourth quarter fiscal 2026?
Zscaler (ZS) reported revenue of $898M for the fourth quarter fiscal 2026 (Q4 FY26), +25% from a year earlier and +6% from the quarter before.
Was Zscaler profitable in the fourth quarter fiscal 2026?
Operating loss was $15.5M (-1.7% of revenue) and net loss $3.4M.
Source: Zscaler 10-K on SEC EDGAR.