What Zscaler reported (Q4 FY25)
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Revenue: $719.2M (+21% y/y) vs pre-consensus ~$705–707M → beat. Non-GAAP EPS: $0.89 vs ~$0.80 → beat. ARR > $3.0B (+22% y/y). Calculated billings: $1.20B (+32% y/y). Deferred revenue: $2.47B (+30% y/y). Non-GAAP op margin: 22%; FCF margin: ~24%.
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FY26 outlook: revenue $3.265–$3.284B (~22–23% y/y); ARR $3.676–$3.698B guide. Company also highlighted AI security additions; press release mentions the Red Canary acquisition context and balance-sheet moves (new 2028 converts; 2025 notes repaid).
