Zscaler, Inc. (NASDAQ: ZS ), a leader in cloud security, has reported a strong financial performance in the third quarter of fiscal year 2024, with a 32% increase in revenue year-over-year and a 30% rise in billings. The company's operating profit nearly doubled, reaching a 22% operating margin.
Significant customer growth was highlighted by the increase in $1 million-plus ARR customers, and the company now boasts over 50 customers with $5 million-plus in ARR. Strategic acquisitions and product innovations have strengthened Zscaler's offerings, while its Zero Trust Exchange platform continues to attract enterprises for cyber and data protection. Despite a challenging macro environment, Zscaler's outlook remains positive with expected revenue growth in Q4 and the full year.
Key Takeaways Zscaler's revenue grew by 32% year-over-year, with billings up by 30%. Operating profit nearly doubled, leading to a record 22% operating margin. The company's Zero Trust Exchange platform is experiencing robust demand.
Zscaler achieved significant customer growth, particularly in the $1 million-plus ARR segment. Strategic acquisitions and innovations in AI and data protection have enhanced the company's offerings. Zscaler is expanding its market through new products and a focus on the federal sector.
The company provided a positive outlook for Q4 and full-year fiscal 2024 revenue growth. Company Outlook Revenue growth is anticipated to be 24% to 25% for Q4 and 32% for the full year. Zscaler a.
