Zoom Video Communications, Inc. (ZM) is a global provider of a unified communications and collaboration platform. The company specializes in offering subscription-based services that enable video conferencing, voice calls, webinars, and team collaboration. Zoom also provides professional services, consulting, and tools for hosting virtual events, catering to both enterprise and individual customers.
- Zoom Meetings - Offers a core video conferencing service that enables seamless communication and collaboration for individuals and teams.
- Zoom Phone - Provides a cloud-based phone system with multiple plans, including Zoom Phone Pro, Regional Unlimited, Regional Metered, and Global Select plans.
- Zoom One Bundles - Combines services like Zoom Meetings, Team Chat, Whiteboard, Mail, Calendar, Phone, Webinars, and Rooms into tailored packages for businesses, including vertical-specific plans for Education, Healthcare, and Government.
- Zoom Spaces - Delivers solutions for physical meeting spaces, enhancing hybrid work environments.
- Zoom Events - Enables hosting of virtual events with tools designed for large-scale online gatherings.
- Zoom Contact Center - Provides customer service solutions to streamline and enhance customer interactions.
- Zoom Revenue Accelerator - Offers productivity-enhancing tools to drive business efficiency and growth.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Eric S. Yuan ExecutiveBoard | President, CEO, and Chairman | Board Member at Intuit, Inc. | Founder of Zoom (2011), previously Corporate VP of Engineering at Cisco and VP of Engineering at WebEx. | View Report → |
Aparna Bawa Executive | Chief Operating Officer (COO) | None | Joined Zoom in 2018 as General Counsel, later served as Chief Legal Officer and Interim Chief Legal Officer. Became COO in 2020. | |
Michelle Chang Executive | Chief Financial Officer (CFO) | None | Joined Zoom in 2024 after 20+ years at Microsoft, where she held roles such as CFO of Commercial Sales and Partner Organization and CFO of Modern Workplace and Security. | |
Velchamy Sankarlingam Executive | President of Product and Engineering | None | Joined Zoom in 2020 after serving as SVP of Cloud Services Development and Operations at VMware. Previously held roles at Cisco WebEx, IBM, and Accenture. | |
Cindy Hoots Board | Board Member | Chief Digital Officer and CIO at AstraZeneca | Appointed to Zoom's board in 2023. Previously held leadership roles at Unilever and British American Tobacco. | |
Dan Scheinman Board | Board Member | Board Member at Arista Networks and SentinelOne | Angel investor since 2011. Formerly held executive roles at Cisco. | |
Janet Napolitano Board | Board Member | Professor at UC Berkeley; Board Member at Vir Biotechnology | Former U.S. Secretary of Homeland Security and President of the University of California system. | |
Jonathan Chadwick Board | Board Member | Board Member at ServiceNow, Confluent, and Samsara | Former CFO at VMware, Skype, and McAfee. Private investor since 2016. | |
Lieut. Gen. H.R. McMaster Board | Board Member | Fellow and Lecturer at Stanford University | Retired U.S. Army Lieutenant General and former National Security Advisor. | |
Mike Fenger Board | Board Member | Vice President, Worldwide Sales at Apple | Joined Zoom's board in 2024. Currently leads global sales at Apple. | |
Peter Gassner Board | Board Member | CEO and Board Member at Veeva Systems | CEO of Veeva Systems since 2007. Former SVP of Technology at Salesforce and Chief Architect at PeopleSoft. | |
Santiago Subotovsky Board | Board Member | General Partner at Emergence Capital | Joined Zoom's board in 2014. Founder of AXG Tecnonexo. | |
William R. McDermott Board | Board Member | CEO and Chairman of ServiceNow; Board Member at Fisker Inc. | CEO of ServiceNow since 2019. Former CEO of SAP. |
- Your fiscal '26 revenue growth guidance remains below the mid-single-digit targets previously discussed; what are the key factors inhibiting revenue acceleration, and how confident are you in returning to higher growth rates?
- With increasing investments in AI and a potential shift towards consumption-based pricing, how do you plan to maintain or improve margins without experiencing long-term margin compression?
- Given the trend of some companies mandating a full return to the office, how do you anticipate this affecting Zoom's usage and expansion opportunities, particularly among enterprise customers?
- The growth in customers contributing over $100,000 in trailing 12-month revenue appears to have resulted in lower revenue per customer year-over-year; can you explain the reasons behind this decline and how you plan to address it?
- Your free cash flow guidance for fiscal '26 indicates a lower conversion rate compared to fiscal '25 despite growth in operating income; what specific factors are causing this decrease, and why wouldn't we see a free cash flow conversion rate closer to 100%?
Research analysts who have asked questions during Zoom Communications earnings calls.
Arjun Bhatia
William Blair
5 questions for ZM
James Fish
Piper Sandler Companies
5 questions for ZM
Meta Marshall
Morgan Stanley
5 questions for ZM
Michael Funk
Bank of America
5 questions for ZM
Peter Levine
Evercore ISI
4 questions for ZM
Samad Samana
Jefferies
4 questions for ZM
Sitikantha Panigrahi
Mizuho
4 questions for ZM
Mark Murphy
JPMorgan Chase & Co.
3 questions for ZM
Patrick Walravens
Citizens JMP
3 questions for ZM
Thomas Blakey
Cantor Fitzgerald
3 questions for ZM
Tyler Radke
Citigroup Inc.
3 questions for ZM
Aleksandr Zukin
Wolfe Research
2 questions for ZM
Alex Zukin
Wolfe Research LLC
2 questions for ZM
Allan Verkhovski
Scotiabank
2 questions for ZM
Catharine Trebnick
Rosenblatt Securities
2 questions for ZM
Kasthuri Rangan
Goldman Sachs
2 questions for ZM
Matthew Harrigan
The Benchmark Company, LLC
2 questions for ZM
Rishi Jaluria
RBC Capital Markets
2 questions for ZM
Ryan MacWilliams
Barclays
2 questions for ZM
William Power
Baird
2 questions for ZM
Billy Fitzsimmons
Jefferies
1 question for ZM
Matthew VanVliet
BTIG, LLC
1 question for ZM
Michael Turrin
Wells Fargo
1 question for ZM
Parker Lane
Stifel Financial Corp.
1 question for ZM
Peter Weed
Bernstein
1 question for ZM
Rich Magnus
Wolfe Research
1 question for ZM
Sonak Kolar
JPMorgan Chase & Co.
1 question for ZM
Yanni Samoilis
Robert W. Baird & Co.
1 question for ZM
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Cisco Webex | The company faces competition from legacy web-based meeting services providers, which include this competitor, in the markets for communication and collaboration technologies. |
GoTo | This competitor is mentioned as another legacy web-based meeting services provider competing in the communication and collaboration technologies market. |
The company competes with bundled productivity solution providers with video functionality, including this competitor, which offers integrated video communication tools. | |
This competitor is highlighted as part of bundled productivity solution providers with video functionality, directly competing in the communication and collaboration technologies market. | |
This competitor is identified as a UCaaS and legacy PBX provider competing in the communication and collaboration technologies market. | |
Avaya | This competitor is another UCaaS and legacy PBX provider mentioned as a rival in the communication and collaboration technologies market. |
This competitor is listed as a UCaaS and legacy PBX provider competing with the company in the communication and collaboration technologies market. | |
This competitor is noted as a consumer-facing platform that can support small- or medium-sized businesses, competing in the communication and collaboration technologies market. | |
This competitor is mentioned as a consumer-facing platform that can support small- or medium-sized businesses, competing in the communication and collaboration technologies market. | |
This competitor is identified as a consumer-facing platform that can support small- or medium-sized businesses, competing in the communication and collaboration technologies market. | |
As the company builds out its Zoom Contact Center, this competitor is mentioned as a provider of similar omnichannel contact center solutions. | |
Genesys | This competitor is highlighted as a provider of omnichannel contact center solutions, competing with the company's Zoom Contact Center. |
NICE inContact | This competitor is noted as another provider of omnichannel contact center solutions, competing with the company's Zoom Contact Center. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Workvivo Limited | 2023 | Completed acquisition executed on April 21, 2023 with an all-cash deal valued between $215.8M and $221.8M; the purchase price was allocated to goodwill, intangible assets (developed technology and customer relationships), and other net assets, and the acquisition is strategically aimed at enhancing Zoom’s employee experience platform by integrating it with its Team Chat product to drive growth in the upmarket enterprise segment. |
Solvvy, Inc. | 2022 | Completed acquisition executed on May 19, 2022 for an all-cash price of $121.2M; the deal’s purchase allocation included goodwill and intangible assets (with developed technology and customer relationships amortized over 5 years) and is strategically aimed at bolstering Zoom’s Contact Center with advanced conversational AI capabilities for improved customer service and agent productivity. |
Recent press releases and 8-K filings for ZM.
- Zoom projects total revenue of $4,830 million for FY26, representing 3.5% growth, alongside a non-GAAP operating profit of $1,910 million (40% margin) and free cash flow of $1,760 million (36% margin).
- The company emphasizes an AI-first vision for its work platform, with AI Companion MAUs growing over 4x year-over-year, driving both indirect and direct monetization strategies.
- Zoom's enterprise business continues to drive growth, with projected revenue of $2,919 million for FY26, accounting for 60% of total revenue, and an increase in customers contributing over $100k in TTM revenue to 4,274 by Q2 FY26.
- The company has executed 73% of its $2.7 billion stock repurchase program, contributing to a -1.9% year-over-year dilution.
- Zoom's strategic focus is on becoming an AI-first work platform for human connection, with AI Companion users growing four times year over year.
- The company reported financial progress, including stabilizing its online business from an 8% decline in FY2023 to flat and accelerating its enterprise business, which now accounts for 60% of revenue.
- Growth products like Phone and Contact Center are performing well, with Phone ARR growing in the mid-teens and Contact Center achieving triple-digit ARR.
- Zoom maintains over 40% profitability and strong cash flow generation, having completed 73% of its share buyback program, resulting in negative 2% share dilution.
- AI monetization includes indirect benefits from AI Companion 3.0 in paid SKUs and direct monetization through Custom AI Companion at $12 per user per month, with higher AI usage noted in SMBs.
- Zoom Communications Inc. reported Q2 FY26 total revenue of $1.217 billion, growing 4.7% year over year (or 4.4% in constant currency), marking its fastest growth rate in eleven quarters.
- The company achieved non-GAAP diluted net income per share of $1.53 in Q2 FY26.
- The enterprise business remains a key strength, with revenue growing 7% year over year and representing 60% of total revenue. The number of customers contributing more than $100,000 in trailing twelve-month revenue grew approximately 9% year over year.
- AI Companion Monthly Active Users (MAU) have grown over four times year over year, with millions using Zoom's AI features. The company also saw strong growth in its Zoom Contact Center customers with over $100,000 ARR, which grew 94% year over year to 229.
- Zoom's free cash flow in Q2 FY26 grew 39% year over year to $508 million, representing a 41.7% free cash flow margin. The company also purchased 6 million shares for $463 million as part of its share buyback program.
- Expanding Product Portfolio: Zoom is evolving its core offering from just meetings to a comprehensive workplace platform that integrates chat, calendar, collaboration, and email, while emphasizing both customer and employee experiences (e.g., Workvivo).
- AI Enhancements: The company is accelerating its AI investments by introducing products like the custom AI Companion and deploying AI across contact center and core communication tools, resulting in increased customer usage and value (e.g., 500% sequential increase in side panel use).
- Pricing Strategy: A planned nominal price increase for the online segment is underway, supported by a stable customer base with long-term contracts and improved churn metrics (over 70% of the online business has been with Zoom for over 16 months).
- Strategic Partnerships: Zoom is leveraging strategic alliances, including a go-to-market partnership with Amazon for its AI products, to fuel broader market adoption and integrated service offerings.
- Robust Q1 performance: Total revenue grew approximately 3% YoY to $1.175 billion, with strong non-GAAP operating income and cash flow metrics—including an accelerated share buyback of $418 million—demonstrating solid financial execution.
- Innovation and AI integration: The company advanced its AI-driven product portfolio with innovations like the Zoom AI Companion (monthly active users up nearly 40% QoQ) and new collaboration features (e.g., Zoom Tasks and Calendar Manager), positioning the platform for enhanced productivity and market differentiation.
- Upgraded guidance outlook: Updated full-year revenue and profitability guidance reflects a commitment to prudent management amid macro challenges, with Q2 revenue expected around $1.2 billion and continued investments in AI, supporting both revenue growth and margin improvements.
- Current and former officers and directors of Zoom are named as defendants in a consolidated stockholder derivative action in Delaware District Court.
- The settlement, agreed on January 14, 2025 and preliminarily approved on April 16, 2025, resolves the litigation without an admission of wrongdoing.
- As part of the agreement, Zoom will implement significant corporate governance reforms and agree to a fee award not exceeding $1.35 million, with reforms maintained for at least three years.
- Shane Crehan resigned as the Company's Chief Accounting Officer, effective May 2, 2025, having accepted a position with another firm.
- Chief Financial Officer Michelle Chang will assume the role of principal accounting officer, and the Company has started a search for Crehan's successor.