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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q4 FY262026-07-31 | Q3 FY262026-04-30 | Q2 FY262026-01-31 | Q1 FY262025-10-31 | Q4 FY252025-07-31 | Q3 FY252025-04-30 | Q2 FY252025-01-31 | Q1 FY252024-10-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $898.19M | $850.48M | $815.75M | $788.11M | $719.23M | $678.03M | $647.90M | $627.96M |
| Cost of revenue | $208.96M | $192.65M | $191.26M | $184.75M | $172.24M | $155.98M | $148.50M | $141.46M |
| Gross profit | $689.22M | $657.82M | $624.49M | $603.36M | $546.99M | $522.06M | $499.40M | $486.49M |
| Gross margin | 76.7% | 77.3% | 76.6% | 76.6% | 76.1% | 77.0% | 77.1% | 77.5% |
| Research and development | $241.48M | $232.28M | $229.14M | $200.50M | $177.61M | $169.77M | $170.86M | $154.25M |
| Selling, general and administrative | $463.23M | $455.18M | $447.13M | $439.22M | $401.62M | $377.70M | $368.68M | $362.91M |
| Operating expenses | $704.71M | $687.46M | $676.26M | $639.72M | $579.23M | $547.47M | $539.54M | $517.16M |
| Operating income | −$15.49M | −$29.64M | −$51.77M | −$36.36M | −$32.24M | −$25.41M | −$40.14M | −$30.67M |
| Operating margin | -1.7% | -3.5% | -6.3% | -4.6% | -4.5% | -3.7% | -6.2% | -4.9% |
| EBITDA | −$109.95M | $71.86M | $43.84M | $53.00M | −$119.40M | $49.34M | $28.72M | $34.06M |
| Interest income | $35.04M | $34.04M | $33.89M | $33.15M | $33.18M | $31.26M | $30.88M | $30.05M |
| Interest expense | −$2.75M | −$2.70M | −$4.22M | −$2.13M | −$2.07M | −$1.97M | −$2.34M | −$3.14M |
| Income before taxes | $14.90M | −$2.37M | −$21.30M | −$8.37M | −$1.90M | $4.56M | −$16.54M | −$4.41M |
| Income taxes | $18.27M | $11.51M | $13.01M | $3.24M | $15.68M | $8.69M | −$8.81M | $7.64M |
| Net income | −$3.37M | −$13.88M | −$34.31M | −$11.62M | −$17.58M | −$4.13M | −$7.72M | −$12.05M |
| Net margin | -0.4% | -1.6% | -4.2% | -1.5% | -2.4% | -0.6% | -1.2% | -1.9% |
| EPS, basic | −$0.02 | −$0.09 | −$0.21 | −$0.07 | −$0.11 | −$0.03 | −$0.05 | −$0.08 |
| EPS, diluted | −$0.02 | −$0.09 | −$0.21 | −$0.07 | −$0.11 | −$0.03 | −$0.05 | −$0.08 |
| Diluted shares | 161.86M | 160.74M | 159.68M | 158.60M | 156.48M | 154.91M | 153.67M | 152.56M |
Figures describe Zscaler shares, not any token. As of Sep 3, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.