Zscaler Company Profile (2026): Zero Trust Exchange

Company Profile | Cybersecurity | Updated August 2026

Zscaler: The Zero Trust Exchange

Zscaler (NASDAQ: ZS) is cloud security specialist Zero Trust Exchange platform. FY2025 revenue $2.673B +23% YoY (adjusted EPS $3.28 vs $2.60 FY24). Q4 FY2025 $719.2M +21% YoY beating guidance $705-707M and analyst estimates, Q3 April 2025 $678.03M beating 1.75% vs $553.2M year-ago, Q1 Oct 2025 $788.11M beating 1.91% vs $627.96M year-ago, Q2 Jan 2025 $647.9M beating 2.18% vs $525M. Topped consensus 4 quarters. FY2025 forecast raised $2.64-2.65B from $2.62-2.64B signaling cloud-based cybersecurity services demand. Cash reserves +67.88% $965.94M 2025, Debt to Total Capital 41.80%. FY2026 Q1 guide $772-774M ahead $752M expected.

Founded

2008

FY2025 Revenue

$2.673B +23%

Q4 FY25

$719.2M +21%

Q1 Oct 25

$788M beat

Cash Growth

+67.8%

Executive Summary

Zscaler founded 2008 Jay Chaudhry, pioneer Zero Trust. Zero Trust Exchange replaces VPN, firewall with cloud-native SSE (Security Service Edge). Q4 FY2025 Sept 2 2025 delivered GAAP revenue $719.2M surpassing own guidance $705-707M and analyst expectations. Q3 FY2025 May 29 2025 $678.03M vs $553.2M year-ago beat 1.75% estimate. Q2 Jan 2025 $647.9M vs $525M beat 2.18%. Full FY2025 $2.673B +23% YoY from $2.17B $2.17B→$2.67B growth net loss improved -$57.71M to -$41.48M. Fiscal 2026 Q1 expects adjusted EPS 85-86c on revenue $772-774M ahead 85c and $752M expected.

Business: Cloud-based cybersecurity services — ZIA (Zscaler Internet Access), ZPA (Private Access), ZDX, Data Protection. Billings Q1 FY2025 $517M +13.2% reflecting robust engagement new and existing customers. Revenue rose 26.4% YoY Q1 FY2025 to $628M.

Products

Product	Details
Zero Trust Exchange	Cloud platform 150+ data centers, broker connections user-to-app not network-to-network.
ZIA	Internet Access — Secure Web Gateway, Cloud Firewall, Sandbox.
ZPA	Private Access — ZTNA replacing VPN, zero trust network access 2.0 competitor to Palo Alto Prisma Access.
ZDX / Data Protection	Digital Experience Monitoring, DLP, CASB.

Zero Trust vs SASE: Zscaler pure-play SSE vs Palo Alto integrated SD-WAN+SSE (Prisma SASE). Accenture and Palo Alto provide integrated SASE with ZTNA 2.0 as secure foundation — Zscaler argues best-of-breed SSE avoids lock-in. Q4 2025 21% growth vs Palo Alto 16% shows pure-play still winning share.

THE CODEW TAKE

Zscaler is purest Zero Trust bet — $2.67B FY25 +23% beating 4 quarters, cash +67.8% $966M, debt ratio 41.8% healthy. $719M Q4 +21% vs $2.5B Palo Alto Q4 +16% — growing faster at smaller scale. SSE leader vs Cloudflare edge SSE and Palo Alto platform. FY2026 Q1 guide $772-774M vs $752M expected +2.9% beat shows momentum. Risk: Microsoft Entra, Palo Alto Prisma Access bundling, Netskope. If Zero Trust replaces VPN fully, Zscaler TAM expands beyond $30B. Watch billings $517M +13.2% — lags revenue but indicates future.

• Motley Fool Zscaler Q4 FY2025 $719.2M +21% GAAP beating $705-707M guidance
• TradingView FY2025 forecast raised $2.64-2.65B from $2.62-2.64B
• Zacks Q3 April 2025 $678.03M beat 1.75% vs $553.2M year-ago 4 quarters
• SiliconAngle FY2025 $2.673B +23% adjusted EPS $3.28 vs $2.60 FY24 Q1 FY2026 guide $772-774M