Zscaler Inc (NASDAQ:ZS) Q1 2021 Earnings Conference Call - Final Transcript

Dec 03, 2020 • 04:30 pm ET


Zscaler Inc (NASDAQ:ZS) Q1 2021 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Zscaler First Quarter 2021 Earnings Conference Call. [Operator Instructions] After the speaker presentation, there will be a question-and-answer session. [Operator Instructions].

I would now like to hand the conference over to your first speaker today to Mr. Bill Choi, Senior Vice President, Investor Relations and Strategic Finance. Thank you. Please go ahead.

Bill Choi

Good afternoon, everyone, and welcome to the Zscaler fiscal first quarter 2021 earnings conference call. On the call with me today are Jay Chaudhry, Chairman and CEO; and Remo Canessa, CFO.

Please note that we have posted our earnings release and a supplemental financial schedule to our Investor Relations website. Unless otherwise noted, all numbers we talk about today will be on an adjusted non-GAAP basis. You will find the reconciliation of GAAP to the non-GAAP financial measures in our earnings release. Starting in fiscal 2021, we are excluding stock-based based compensation related payroll taxes in our non-GAAP presentation. The GAAP to the non-GAAP reconciliations for historical periods can be found in the supplemental financial information.

I'd like to remind you that today's discussion will contain forward-looking statements, including but not limited to the company's anticipated future revenue, calculated billings, operating performance, gross margin, operating expenses, operating income, net income, free cash flow, dollar based net retention rate, future hiring decisions, remaining performance obligations, income taxes and earnings per share. These statements and other comments are not guarantees of future performance, but rather are subject to risk and uncertainty, some of which are beyond our control, including but not limited to the duration and impact of COVID-19 on our business, the global economy and the respective businesses of our customers, vendors and partners.

These forward-looking statements apply as of today, and you should not rely on them as representing our views in the future. We undertake no obligation to update these statements after this call. For a more complete discussion of the risks and uncertainties, please see our filings with the SEC, as well as in today's earnings release.

I would also like to inform you that management will be presenting at the following upcoming events. Credit Suisse Technology Conference tomorrow, UBS Global TMT Conference on December 7, Barclays Global TMT Conference on December 10, our annual Zenith Live Cloud Summit for the Americas and EMEA will be held virtually next week and for APJ the following week. We encourage everyone to register and view our summit. We also invite you to attend a one-hour product Q&A session specifically for investors and financial analysts on Wednesday, December 9. The presentations for these events will be webcast and the links will be available on our Investor Relations website.

Now, I'll turn the call over to Jay.

Jay Chaudhry

Thank you, Bill. First of all, I hope all of you and your families are healthy and safe. I'm proud of our strong results and an exceptionally strong start to fiscal '21 in our first quarter. We delivered 52% growth in revenue