Zscaler, Inc. - ZS STOCK NEWS

Zscaler, Inc. (NASDAQ: ZS) is set to release its first quarter fiscal year 2023 earnings on December 1, 2022, after market close. The company will host an investor conference call at 1:30 p.m. PT (4:30 p.m. ET) on the same day to discuss its financial results. Zscaler, a leader in cloud security, provides solutions that support secure digital transformation for customers globally through its Zero Trust Exchange. This platform safeguards users and data against cyber threats.

Zscaler (NASDAQ: ZS) announced new integrations with Zoom that enhance collaboration capabilities by connecting the Zscaler Digital Experience™ (ZDX) with Zoom's Quality of Service Subscription (QSS). This integration provides IT and helpdesk teams with real-time quality performance metrics, aiding in troubleshooting and improving productivity for hybrid workers. Key benefits include enterprise-wide analytics, real-time detection of issues, and automated configurations to enhance the Zoom experience. The solutions will be showcased at Zoomtopia 2022.

Zscaler (NASDAQ: ZS) continues to support The Arc Mid-Hudson, its long-term customer, in enhancing data protection and compliance for healthcare information. The Arc Mid-Hudson, a not-for-profit organization, has utilized the Zscaler Zero Trust Exchange™ since 2007 to secure its workforce and transition to a mobile service model. Zscaler's technology provides fast and secure access for over 1,230 employees across 50 remote sites, ensuring compliance with HIPAA and the New York SHIELD Act. The collaboration has led to improved IT efficiency and significant cost savings.

Zscaler (NASDAQ: ZS) announced innovations aimed at enhancing data protection across cloud applications. These advancements reduce deployment times from months to hours without configuration, addressing the escalating risk of data loss highlighted in the 2022 Data Loss Report. Zscaler's solution automates workflows and unifies data protection, mitigating risks and operational complexities for enterprises.

Zscaler, Inc. (NASDAQ: ZS) announced that Amit Sinha will resign as CEO effective October 21, 2022, to pursue a role at a private technology company. He will remain a Board member. Jay Chaudhry, Chairman and CEO, will assume oversight of R&D, Cloud Operations, and Customer Support. Chaudhry praised Sinha for his contributions over 12 years, noting the company's $5 billion ARR target. Sinha expressed confidence in Zscaler's future and commitment to remain involved as an advisor.

Zscaler has completed its acquisition of ShiftRight, a leader in security workflow automation, to enhance its Zero Trust Exchange platform. This integration aims to streamline security operations and increase visibility into security posture, addressing the growing complexity of cybersecurity. ShiftRight's technology will help automate accountability and improve incident resolution times. The acquisition closed in Zscaler's fiscal fourth quarter, but terms were not disclosed. Zscaler aims to bolster its offerings to better serve its customers amid rising security risks.

Zscaler recently released its 2022 VPN Risk Report, highlighting the growing security threats associated with legacy VPNs as remote work becomes more common. Key findings show that 68% of executives prioritize Zero Trust Security due to increased VPN exploits. Nearly half of IT professionals reported a rise in attacks targeting VPNs. The report reveals that 65% of organizations are considering alternatives to VPNs, emphasizing the need for modern security architectures to protect against cyber threats.

Zscaler announces enhanced security capabilities via its Zero Trust Exchange™ in collaboration with CrowdStrike. This integration aims to bolster ransomware and identity theft defenses, providing improved visibility and threat detection for enterprises. Key enhancements include integrated closed-loop responses, enriched context for investigations, and comprehensive incident response capabilities. Zscaler's recent recognition as CrowdStrike's Ecosystem Go-to-Market Partner of the Year for 2022 underscores its significant role in the cybersecurity landscape.

Zscaler, a leader in cloud security, reported financial results for Q4 and FY 2022. Revenue surged to $318.1 million, a 61% increase year-over-year, with billings growing 57% to $520.4 million. Despite a GAAP net loss of $97.7 million compared to $81 million last year, non-GAAP net income rose to $36.4 million from $20.3 million. Deferred revenue also increased by 62% to $1,021.1 million. The company anticipates Q1 FY 2023 revenue between $339 million and $341 million and forecasts total revenue for FY 2023 of approximately $1.49 billion to $1.50 billion.