Zoom(ZM)2025-02-24 21:05Revenue Performance - Fourth quarter total revenue was $1,184.1 million, up 3.3% year over year, with full fiscal year total revenue of $4,665.4 million, up 3.1% year over year[6] - Revenue for the three months ended January 31, 2025, was $1,184,138 thousand, representing an increase from $1,146,457 thousand in the same period of 2024, a growth of approximately 3.3%[33] - GAAP revenue for the three months ended January 31, 2025, was $1,184,138, representing a year-over-year growth of 3.3% compared to $1,146,000 in 2024[38] - Full fiscal year 2026 total revenue is expected to be between $4.785 billion and $4.795 billion, with non-GAAP income from operations expected between $1.850 billion and $1.860 billion[15] Profitability Metrics - Non-GAAP net income for the fourth quarter was $446.9 million, or $1.41 per share, compared to $444.0 million, or $1.42 per share in the same quarter last year[5] - Net income for the year ended January 31, 2025, was $1,010,238 thousand, compared to $637,462 thousand for the year ended January 31, 2024, reflecting a year-over-year increase of approximately 58.5%[33] - The diluted net income per share for the year ended January 31, 2025, was $3.21, up from $2.07 for the year ended January 31, 2024, representing a growth of approximately 55.1%[33] - Non-GAAP income from operations for the year ended January 31, 2025, was $1,837,895, reflecting a year-over-year growth of 3.5% from $1,774,888 in 2024[37] Cash Flow and Liquidity - Operating cash flow for the fourth quarter was $424.6 million, up 20.9% year over year, with full fiscal year operating cash flow of $1,945.3 million, up 21.7% year over year[8] - Free cash flow for the fiscal year was $1,808.7 million, up 22.9% year over year[10] - Free cash flow (non-GAAP) for the year ended January 31, 2025, was $1,808,748, up from $1,471,883 in 2024, indicating a growth of 22.9%[37] - Cash flows from operating activities for the year ended January 31, 2025, totaled $1,945,308, an increase from $1,598,836 in 2024[37] - The company’s cash, cash equivalents, and restricted cash at the end of the year was $1,361,417, down from $1,565,380 at the end of the previous year[35] Customer Metrics - The number of customers contributing more than $100,000 in trailing 12 months revenue increased by 7.3% year over year[6] - Approximately 192,600 Enterprise customers were reported at the end of the fourth quarter[14] - The trailing 12-month net dollar expansion rate for Enterprise customers was 98%[14] - The net dollar expansion rate for Enterprise customers is calculated based on the annual recurring revenue (ARR) from the previous period, indicating strong customer retention and growth potential[27] Operating Efficiency - GAAP operating margin for the fourth quarter was 19.0%, up 430 basis points year over year, and non-GAAP operating margin was 39.5%, up 80 basis points year over year[6] - The company reported a GAAP operating margin of 19.0% for the three months ended January 31, 2025, compared to 14.7% in the same period of 2024[37] - The company reported a non-GAAP operating margin of 39.5% for the three months ended January 31, 2025, compared to 38.7% in the same period of 2024[37] Asset and Liability Overview - The total current assets as of January 31, 2025, were $8,675,974 thousand, an increase from $7,926,219 thousand as of January 31, 2024, representing a growth of approximately 9.4%[31] - The total liabilities as of January 31, 2025, were $2,053,337 thousand, compared to $1,910,387 thousand as of January 31, 2024, reflecting an increase of approximately 7.5%[31] - The total stockholders' equity as of January 31, 2025, was $8,935,084 thousand, an increase from $8,019,406 thousand as of January 31, 2024, indicating a growth of approximately 11.4%[31] Research and Development - Research and development expenses for the three months ended January 31, 2025, were $217,121 thousand, compared to $205,282 thousand in the same period of 2024, showing an increase of about 5.4%[33]