Income StatementBalance SheetCash FlowSegments
Zscaler logo

Zscaler Cash Flow Statement

Operating, investing, and financing cash movements

Zscaler generated $1.1B in operating cash flow over the trailing twelve months. After $137.5M in capital expenditures, free cash flow was $963.5M. Free cash flow increased 0.2% year-over-year. Based on the Q2 2026 filing.

Net Cash From Operating (TTM)$1.1BNet Cash From Investing (TTM)-$2.5BNet Cash From Financing (TTM)$419.6MCapital Expenditures (TTM)$137.5MDepreciation And Amortization Cf$38.0MNet Change In Cash (TTM)-$1.0B
Latest FilingQ2 2026
Report Date2026-05-26
Market Cap$29.3B
ROE-3.71%

Operating

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Other non-cash income (expense)-$659.0K——-$1.2M-$1.2M-$4.4M
Amortization of debt issuance costs$982.0K$984.0K$1.3M$2.0M$2.0M$2.0M
Amortization of deferred commissions$40.1M$42.3M$44.8M$48.1M$49.6M$52.0M
Amortization of intangible assets$4.2M$4.3M$4.1M$8.6M$11.1M$11.4M
Amortization of Investment Discount and Premium$5.1M$3.8M$2.1M$1.9M$1.7M$933.0K
Accretion (amortization) of discounts and premiums on investments$5.1M$3.8M$2.1M$1.9M$1.7M$933.0K
Other non-cash income (expense)-$659.0K——-$1.2M-$1.2M-$4.4M
Change in accounts payable—$28.8M—-$2.9M-$19.2M—
Change in accounts receivable——$376.5M-$482.9M——
Change in accrued liabilities——$26.7M-$54.8M——
Change in deferred revenue$94.8M$106.5M$483.0M-$191.1M——
Change in other assets$3.4M$38.0K$29.4M$17.3M$12.9M—
Other working capital changes-$659.0K——-$1.2M-$1.2M-$4.4M
Deferred income taxes$17.5M$482.0K—$3.7M—-$1.9M
Depreciation and amortization—$28.2M———$38.0M
Accretion (Amortization) of Investment Discounts and Premiums$5.1M$3.8M$2.1M$1.9M$1.7M$933.0K
Amortization of Contract Acquisition Assets$40.1M$42.3M$44.8M$48.1M$49.6M$52.0M
Other Non-Cash Income (Expense)-$659.0K——-$1.2M-$1.2M-$4.4M
Other Non-cash Income (Expense)-$659.0K——-$1.2M-$1.2M-$4.4M
Other Non-cash Income (Expense)-$659.0K——-$1.2M-$1.2M-$4.4M
Net cash from operating activities$179.4M$211.1M$250.6M$448.3M$204.1M$198.0M
Net income-$7.7M-$4.1M-$17.6M-$11.6M-$34.3M-$13.9M
Other non-cash income (expense)-$659.0K——-$1.2M-$1.2M-$4.4M
Accretion (Amortization) of Discounts and Premiums, Investments$5.1M$3.8M$2.1M$1.9M$1.7M$933.0K
Non-cash interest expense$982.0K$984.0K$1.3M$2.0M$2.0M$2.0M
Amortization of capitalized software and acquired intangible assets$4.2M$4.3M$4.1M$8.6M$11.1M$11.4M
Amortization of costs capitalized to obtain revenue contracts, net$40.1M$42.3M$44.8M$48.1M$49.6M$52.0M
Accrued expenses and other liabilities-$5.2M$4.4M$12.2M$8.4M—$11.9M
Increase (Decrease) in Contract with Customer, Asset$41.4M$65.8M$90.5M$43.7M$63.7M$77.3M
Increase (Decrease) in Deferred Income Taxes$17.5M$482.0K—$3.7M—-$1.9M
Accrued compensation and employee benefits——$26.7M-$54.8M——
Increase (Decrease) in Prepaid Expense and Other Assets$3.4M$38.0K$29.4M$17.3M$12.9M—
Non-cash operating lease expense$15.9M$16.3M$15.1M$18.4M$20.3M$21.7M
Operating lease right-of-use asset amortization$15.9M$16.3M$15.1M$18.4M$20.3M$21.7M
Other Noncash Income (Expense)-$659.0K——-$1.2M-$1.2M-$4.4M
Gain (loss) on mark-to-market of Escrowed Shares—$3.9M-$1.2M-$3.0M$4.1M—
Other Non-cash Income and Expense-$659.0K——-$1.2M-$1.2M-$4.4M
Other Non-Cash Adjustments-$659.0K——-$1.2M-$1.2M-$4.4M
Other Non-Cash Income and Expense-$659.0K——-$1.2M-$1.2M-$4.4M
Accretion (Amortization) of Investment Discounts and Premiums$5.1M$3.8M$2.1M$1.9M$1.7M$933.0K
Stock-based compensation$172.1M$159.4M$172.7M$188.6M$216.6M$205.2M
Unrealized Gain (Loss) on Derivatives—$3.9M-$1.2M-$3.0M$4.1M—

Financing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Payment for contingent consideration liability (financing)—$440.0K$352.0K———
Proceeds from convertible debt$431.3M$431.3M$431.3M———
Payment for Contingent Consideration (Financing)—$440.0K$352.0K———
Repayments of Convertible Debt$0.0$0.0$24.2M$684.0K——
Proceeds from issuance of debt$431.3M$431.3M$431.3M———
Repayments of debt$0.0$0.0$1.2B$684.0K——
Payments For Capped Call$0.0$0.0$196.7M$197.0K——
Issuance of stock under employee stock plans——$41.2M———
Repayments of Convertible Debt$0.0$0.0$24.2M$684.0K——
Repayments of Senior Debt$287.5M$287.5M$287.5M———
Payment of Deferred Purchase Consideration—$440.0K$352.0K———
Net cash from financing activities$24.9M$0.0$395.1M$3.1M$21.4M—
Other financing activities—$440.0K$352.0K———
Proceeds from issuance of common stock$2.6M$41.0K$84.0K$4.0M——

Investing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Acquisitions, net of cash acquired$834.0K——$672.8M—$97.3M
Sales of short-term available-for-sale investments$0.0$0.0$0.0$8.3M$31.9M$137.3M
Capital expenditures$15.0M$72.2M$60.0M$17.3M$17.8M$42.4M
Payments to Acquire Other Investments$225.0K$0.0$38.0K$0.0$2.0M$2.2M
Payments to Develop Software$21.0M$19.5M$18.6M$17.7M$17.2M$19.7M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$336.4M$270.9M$225.1M$93.6M$149.2M$175.8M
Sale of investments$0.0$0.0$0.0$8.3M$31.9M$137.3M
Net cash from investing activities——-$247.6M-$1.5B-$360.9M-$418.7M
Proceeds from maturities/sales of investments$0.0$0.0$0.0$8.3M$31.9M$137.3M
Purchases of investments$298.8M$157.6M$394.0M$896.4M$505.1M$570.2M

Supplemental

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Operating lease payments$16.0M$14.9M$16.8M$18.6M$3.7M$21.7M
ROU assets obtained - operating leases$14.2M$3.0M$31.6M$54.8M$29.3M$19.6M
Income taxes paid$7.5M$934.0K$5.5M$12.4M$12.3M$11.5M
Interest paid——$718.0K——$0.0
ROU Asset Obtained for Lease Liability$14.2M$3.0M$31.6M$54.8M$29.3M$19.6M
Cash Paid for Lease Liabilities$16.0M$14.9M$16.8M$18.6M$3.7M$21.7M
Income Taxes Paid, Net$7.5M$934.0K$5.5M$12.4M$12.3M$11.5M
Operating lease payments$16.0M$14.9M$16.8M$18.6M$3.7M$21.7M
Non-cash Debt Issuance Costs$249.8K$249.8K$249.8K———
Operating Lease Payments$16.0M$14.9M$16.8M$18.6M$3.7M$21.7M

Free Cash Flow

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Free cash flow$164.4M$138.9M$190.6M$431.0M$186.3M$155.6M

Other

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Contingent consideration (receivable) payable - financing activities—$440.0K$352.0K———
Net increase (decrease) in cash$204.9M$232.4M$398.1M-$1.1B-$135.4M-$220.6M
Net change in purchased equipment included in accounts payable and accrued expenses$555.0K$11.0M$0.0-$5.3M-$1.4M—
Equity consideration for business acquisitions$0.0$0.0$0.0———
Other Significant Noncash Transaction Value Of Consideration Received1$500.0$500.0$500.0———
Leased assets obtained in exchange for operating lease liabilities$14.2M$3.0M$31.6M$54.8M$29.3M$19.6M
Shares issued to settle the premium amount upon repayment of the 2025 Notes$1.0K$1.0K$1.0K———