“We kicked off the fiscal year with a very strong first quarter, posting 191% total year-over-year revenue growth combined with strong profitability and cash flow. Our steadfast commitment to empowering customers to work and learn from anywhere with our expansive, innovative, and frictionless video communications platform continued to drive our results. With this solid start, we are pleased to raise our total guidance range from $3.975 billion to $3.990 billion for the full fiscal year,” said Zoom founder and CEO, Eric S. Yuan.
“We have also opened our technology portfolio to developers through our powerful video SDK and to businesses to expand their reach through Zoom Events. Work is no longer a place, it’s a space where Zoom serves to empower your teams to connect and bring their best ideas to life. We are energized to help lead the evolution to hybrid work that allows greater flexibility, productivity, and happiness to both in-person and virtual connections.”
First Quarter Fiscal Year 2022 Financial Highlights:
Revenue: Total revenue for the first quarter was $956.2 million, up 191% year over year.
Income from Operations and Operating Margin: GAAP income from operations for the first quarter was $226.3 million,
up from $23.4 million in the first quarter of fiscal year 2021. After adjusting for stock-based compensation expense and
related payroll taxes, acquisition-related expenses, and litigation settlements, net, non-GAAP income from operations for
the first quarter was $400.9 million, up from $54.6 million in the first quarter of fiscal year 2021. For the first quarter, GAAP
operating margin was 23.7% and non-GAAP operating margin was 41.9%.
Net Income and Net Income Per Share: GAAP net income attributable to common stockholders for the first quarter was
$227.4 million, or $0.74 per share, up from $27.0 million, or $0.09 per share in the first quarter of fiscal year 2021.
Non-GAAP net income for the quarter was $402.1 million, after adjusting for stock-based compensation expense and
related payroll taxes, acquisition-related expenses, litigation settlements, net, and undistributed earnings attributable to
participating securities. Non-GAAP net income per share was $1.32. In the first quarter of fiscal year 2021, non-GAAP net
income was $58.3 million, or $0.20 per share.
Cash and Marketable Securities: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of
April 30, 2021 was $4.7 billion.
Cash Flow: Net cash provided by operating activities was $533.3 million for the first quarter, compared to $259.0 million in
the first quarter of fiscal year 2021. Free cash flow, which is net cash provided by operating activities less purchases of
property and equipment, was $454.2 million, compared to $251.7 million in the first quarter of fiscal year 2021.