Zscaler reaffirms 2027 fiscal guidance at Investor Day

Cybersecurity firm Zscaler reaffirmed its financial guidance for both the first quarter and the full fiscal year 2027 during its 2026 Investor Day in New York City on Oct. 6, 2026. Founder, Chairman, and CEO Jay Chaudhry highlighted demand for the company's Zero Trust platform amid the expansion of artificial intelligence, reiterating a long-term goal of reaching $10 billion in annual recurring revenue (ARR).

For the first quarter of fiscal 2027, originally guided on Sept. 3, 2026, Zscaler expects revenue between $935 million and $939 million, representing roughly 19% year-over-year growth. It projects non-GAAP gross margin of approximately 80%, non-GAAP operating income of $215 million to $217 million with a 23% operating margin, and non-GAAP net income per share of $1.15 to $1.16 based on roughly 170 million fully diluted shares.

For the full fiscal year 2027, the company forecasts ARR of $4.396 billion to $4.426 billion, an increase of 16.6% to 17.4%. Full-year revenue is expected between $3.908 billion and $3.938 billion, reflecting growth of 16.6% to 17.5%. Zscaler also targets a non-GAAP gross margin of approximately 80%, non-GAAP operating income of $924 million to $932 million, non-GAAP net income per share of $4.86 to $4.90 across 173 million shares, and a free cash flow margin of 23.0% to 23.5%.