ZIP (ZIP) financial statements
ZIP reported revenue of $449M in fiscal 2025, up 0.7% a year over 6 years.
Net income was -$33M and the operating margin -4.3%, against -1.5% in 2019.
Free cash flow was $3M, and the company returned $102M in net buybacks.
The diluted share count rose 13% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ZIP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $430M | $418M | $741M | $905M | $646M | $474M | $449M |
| Cost of revenue | $55M | $54M | $80M | $86M | $64M | $50M | $48M |
| Gross profit | $375M | $364M | $662M | $818M | $581M | $424M | $401M |
| Research and development | $65M | $69M | $110M | $128M | $142M | $135M | $125M |
| Selling, general and admin | $316M | $230M | $559M | $593M | $360M | $288M | $295M |
| Operating income | -$6M | $64M | -$8M | $97M | $79M | $1M | -$19M |
| Interest expense | $575,000 | $1M | $916,000 | $28M | $29M | $30M | $30M |
| Pre-tax income | -$6M | $64M | -$9M | $74M | $71M | -$6M | -$31M |
| Income tax | $588,000 | -$22M | -$13M | $13M | $21M | $6M | $2M |
| Net income | -$6M | $86M | $4M | $61M | $49M | -$13M | -$33M |
| EPS (diluted) | -$0.13 | $0.70 | $0.02 | $0.51 | $0.46 | -$0.13 | -$0.37 |
| Diluted shares | 79M | 94M | 115M | 121M | 106M | 99M | 90M |
| Gross margin | 87.2% | 87.0% | 89.3% | 90.5% | 90.0% | 89.4% | 89.2% |
| Operating margin | -1.5% | 15.4% | -1.1% | 10.7% | 12.3% | 0.3% | -4.3% |
| Net margin | -1.5% | 20.6% | 0.5% | 6.8% | 7.6% | -2.7% | -7.3% |
Balance sheet
Fiscal years, from ZIP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $36M | $115M | $255M | $570M | $520M | $506M | $409M |
| Receivables | — | $21M | $42M | $44M | $27M | $23M | $26M |
| Total current assets | — | $145M | $311M | $632M | $562M | $544M | $449M |
| Property, plant and equipment | — | $5M | $9M | $8M | $6M | $5M | $4M |
| Goodwill | — | $2M | $2M | $2M | $2M | $8M | $9M |
| Total assets | — | $212M | $399M | $715M | $660M | $664M | $570M |
| Total current liabilities | — | $71M | $143M | $130M | $85M | $82M | $71M |
| Long-term debt | — | $25M | $0 | $542M | $543M | $544M | $545M |
| Total liabilities | — | $126M | $164M | $686M | $651M | $651M | $647M |
| Shareholders' equity | -$122M | -$50M | $235M | $29M | $8M | $13M | -$77M |
| Net debt | -$36M | -$89M | -$255M | $314M | $260M | $325M | $357M |
Cash flow
Fiscal years, from ZIP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2M | $88M | $144M | $129M | $103M | $46M | $11M |
| Capital spending | $10M | $7M | $13M | $11M | $11M | $10M | $7M |
| Free cash flow | -$12M | $81M | $131M | $118M | $93M | $36M | $3M |
| Stock-based compensation | $7M | $6M | $107M | $77M | $84M | $64M | $48M |
| Share buybacks (net) | $0 | -$19M | -$3M | -$339M | -$148M | -$40M | -$102M |
| Free cash flow margin | -2.9% | 19.3% | 17.6% | 13.1% | 14.3% | 7.6% | 0.8% |
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Open ZIP in InvestinglyQuestions
What was ZIP's revenue in 2025?
$449M in fiscal 2025, from its 10-K filing.
How much free cash flow does ZIP generate?
$3M in fiscal 2025 (operating cash flow minus capital spending).
From ZIP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.