Zoom Reports Q4 & FY26 Results; Issues FY27 Guidance Below Prior Year EPS & FCF
ZM sits 32% above its 52-week low of $64.41 on elevated volume (1.8× avg).
Summary
Zoom reported Q4 and FY26 financial results, showing strong GAAP EPS due to strategic investment gains but modest non-GAAP growth. The company issued FY27 guidance projecting decelerating revenue growth and a decline in non-GAAP EPS and free cash flow.
Key Events · Earnings and Guidance · ZM
-
Q4 and FY26 Financial Performance
For Q4 FY26, total revenue was $1,247.0 million (up 5.3% YoY) and GAAP EPS was $2.22 (up 91.4% YoY), while non-GAAP EPS was $1.44 (up 2.1% YoY). Full fiscal year 2026 revenue reached $4,868.8 million (up 4.4% YoY), with GAAP EPS of $6.18 (up 92.5% YoY) and non-GAAP EPS of $5.92 (up 6.9% YoY). The strong GAAP EPS was significantly boosted by gains on strategic investments.
-
FY27 Financial Guidance
For full fiscal year 2027, Zoom expects total revenue between $5.065 billion and $5.075 billion, implying a deceleration in growth. Non-GAAP diluted EPS is projected to be between $5.77 and $5.81, a decline from FY26's $5.92. Free cash flow is guided between $1.700 billion and $1.740 billion, also a decrease from FY26's $1,924.1 million.
-
Share Repurchase Program
The company repurchased approximately 3.8 million shares in Q4 and 20.4 million shares during the full fiscal year 2026. A remaining authorization of $1.0 billion for share repurchases was noted as of January 31, 2026.
-
Customer Metrics
Zoom reported 4,468 customers contributing over $100,000 in trailing 12-month revenue, an increase of 9.3% year-over-year. The trailing 12-month net dollar expansion rate for Enterprise customers was 98%, indicating slight contraction from existing customers, and online average monthly churn slightly increased to 2.9%.
Analysis · ZM · Technology
Zoom Communications reported mixed financial results for Q4 and full fiscal year 2026, with strong GAAP EPS growth largely driven by significant gains on strategic investments. However, non-GAAP EPS growth was modest. More critically, the company's guidance for fiscal year 2027 projects a deceleration in revenue growth, a decline in non-GAAP diluted EPS, and a decrease in free cash flow compared to FY26. This forward-looking outlook suggests a challenging operational environment and a potential contraction in profitability and cash generation, which is a significant negative signal for investors. The ongoing share repurchase program, with $1.0 billion remaining authorization, provides some shareholder return but does not fully offset the deteriorating operational guidance.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 35.8% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ZM was trading at $84.75 on NASDAQ in the Technology sector, with a market capitalization of approximately $25.3B. The 52-week trading range was $64.41 to $97.58. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.