Zoom Video Communications Inc (NASDAQ:ZM) Q1 2021 Earnings Conference Call - Final Transcript

Jun 02, 2020 • 05:30 pm ET


Zoom Video Communications Inc (NASDAQ:ZM) Q1 2021 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Hello, everyone, and welcome to Zoom's first quarter fiscal year 2021 earnings release. As a reminder, this call is being recorded. At this time, I'd like to turn the floor over to Tom McCallum, Head of Investor Relations.

Tom McCallum

Thank you, Matt, and hello, everyone. Welcome to Zoom's earnings video webinar for the first quarter of fiscal year 2021. Joining me today will be Zoom's Founder and CEO, Eric Yuan; and Zoom's CFO, Kelly Steckelberg.

Our earnings press release was issued today after the market closed and may be downloaded from the Investor Relations page on the zoom.com website. Also, on this page, you'll be able to find a copy of today's prepared remarks and a slide deck with financial highlights that, along with our earnings release, include a reconciliation of GAAP to non-GAAP financial results.

During this call, we will make forward-looking statements about our market size, growth strategy, our estimated and projected costs, margins, revenue, expenditures, investments and growth rates, our future financial performance and other future events or trends, including the guidance for the second fiscal quarter of 2021 and full fiscal year guidance for 2021, our plans and objectives for future operations, growth, initiatives, or strategies, and the impact to Zoom's business from the COVID-19 pandemic. These statements are only predictions that are based on what we believe today, and actual results may differ materially. These forward-looking statements are subject to risks and other factors that could affect our performance and financial results and which we discuss in detail in our filings with the SEC, including today's earnings press release and our latest 10-Q. Zoom assumes no obligation to update any forward-looking statements we may make on today's webinar.

And with that, let me turn the discussion over to Eric.

Eric S. Yuan

Thank you, Tom. First of all, thank you all for your time today. I still remember the first time when we had an earning call last year, it was around less than 1,000 participants. Today, we have over 3,000 participants. Thank you all for your time. And I hope you are doing as well as is possible in this unique moment around the globe. To the front line workers, we thank you for your courage and the tremendous sacrifices you are making to keep us healthy and our community running in this pandemic. Everyone at Zoom appreciates all your incredible work.

COVID has brought pain for many, in particular, vulnerable communities. The Black Community in the United States has also recently experienced shocking and senseless loss. To our communities and customers, especially those in the Black community, Zoom is standing

With you not only today, but also into the future.

Nearly 10 years ago, we created Zoom to build a better, simpler and more efficient video communications platform. Today, I am proud to see that our platform is serving a critical role beyond our original vision in enabling communication and collaboration for businesses, schools, consumers and the global community to stay connected and operational during the COVID-19 pandemic.