Core Insights - Zoom Communications, Inc. reported strong financial results for the first fiscal quarter ended April 30, 2025, exceeding guidance in both revenue and profitability, driven by AI-first innovation and customer demand for efficiency [2][5]. Financial Highlights - Total revenue for Q1 was $1,174.7 million, representing a year-over-year increase of 2.9% and 3.4% in constant currency [5][6]. - Enterprise revenue reached $704.7 million, up 5.9% year-over-year, while Online revenue was $470.0 million, down 1.2% year-over-year [5][6]. - GAAP operating margin was 20.6%, and non-GAAP operating margin was 39.8% [5][6]. - GAAP EPS was $0.81, an increase of 18.7% year-over-year, while non-GAAP EPS was $1.43, up 6.0% year-over-year [5][6]. Customer Metrics - The number of customers contributing more than $100,000 in trailing 12 months revenue increased by 8.0% year-over-year, totaling 4,192 customers [4][5]. - The trailing 12-month net dollar expansion rate for Enterprise customers was 98% [13]. - Online average monthly churn was 2.8%, down 40 basis points from the same quarter last fiscal year [13]. Cash Flow and Share Repurchase - Net cash provided by operating activities was $489.3 million, compared to $588.2 million in the same quarter last year [6]. - Free cash flow for the quarter was $463.4 million, down from $569.7 million year-over-year [6]. - Approximately 5.6 million shares of common stock were repurchased in Q1, an increase from 4.3 million shares in Q4 [5]. Financial Outlook - For Q2 FY 2026, total revenue is expected to be between $1.195 billion and $1.200 billion, with non-GAAP diluted EPS projected between $1.36 and $1.37 [13]. - For the full fiscal year 2026, total revenue is anticipated to be between $4.800 billion and $4.810 billion, with non-GAAP diluted EPS expected between $5.56 and $5.59 [13].