What is Zscaler's deferred revenue?

Zscaler (ZS) reported deferred revenue of $2.1B in Q1 2026.

How has Zscaler's deferred revenue changed year-over-year?

Zscaler's deferred revenue increased by 25.0% year-over-year, from $1.68B to $2.1B.

What is the long-term trend for Zscaler's deferred revenue?

Over 4 years (2021 to 2025), Zscaler's deferred revenue has grown at a 37.7% compound annual growth rate (CAGR), from $571.29M to $2.05B.

What does deferred revenue mean?

Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

Zscaler ZS Deferred Revenue

Deferred Revenue at other companies

Cisco Systems, Inc.CSCO

$16.45B+2.3%

Palo Alto Networks, Inc.PANW

$7.11B+23.6%

Cloudflare, Inc.NET

$755.1M+48.6%

CrowdStrike Holdings, Inc.CRWD

$3.37B+22.7%

FortinetFTNT

——

Broadcom Inc.AVGO

——

Other financials

Income statement

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Revenue$850.5M+25.4%

Gross profit$657.8M+26.0%

Operating income-$29.6M-16.6%

Net income-$13.9M-237%

EPS (diluted)-$0.09-200%

Balance sheet

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Cash & equivalents$982.1M-50.7%

Total debt$1.7B+40.9%

Total equity$2.4B+31.1%

Total assets$7.1B+32.9%

Cash flow

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Operating cash flow$198.0M-6.2%

CapEx$42.4M-41.2%

Free cash flow$155.6M+12.0%

Valuation

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Market cap$23.79B-51.6%

Enterprise value$24.54B-49.2%

P/S7.5×-11.8×

Profitability

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Gross margin76.7%-0.7pp

Operating margin-4.7%-0.1pp

Net margin-2.4%+3.7pp

FCF margin30.4%+0.1pp

Returns & leverage

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Return on equity-3.7%+2.3pp

Debt / equity0.7×+0.1×

Current ratio1.9×+0.6×

Where this comes from

Reported directly by Zscaler in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The official record: Zscaler’s 10-Q, filed May 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Zscaler's deferred revenue?: Zscaler (ZS) reported deferred revenue of $2.1B in Q1 2026.
How has Zscaler's deferred revenue changed year-over-year?: Zscaler's deferred revenue increased by 25.0% year-over-year, from $1.68B to $2.1B.
What is the long-term trend for Zscaler's deferred revenue?: Over 4 years (2021 to 2025), Zscaler's deferred revenue has grown at a 37.7% compound annual growth rate (CAGR), from $571.29M to $2.05B.
What does deferred revenue mean?: Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.