Zoom Video Communications (ZM) financial statements
Zoom Video Communications reported revenue of $4.9B in fiscal 2026, up 54.3% a year over 8 years.
Net income was $1.9B and the operating margin 23.1%, against -3.2% in 2018.
Free cash flow was $1.9B, and the company returned $1.6B in net buybacks.
The diluted share count rose 293% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Zoom Video Communications's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $151M | $331M | $623M | $2.7B | $4.1B | $4.4B | $4.5B | $4.7B | $4.9B |
| Cost of revenue | $31M | $61M | $115M | $822M | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B |
| Gross profit | $121M | $270M | $507M | $1.8B | $3.0B | $3.3B | $3.4B | $3.5B | $3.7B |
| Research and development | $16M | $33M | $67M | $164M | $363M | $774M | $803M | $852M | $845M |
| Selling, general and admin | $110M | $230M | $427M | $1.0B | $1.6B | $2.3B | $2.1B | $1.9B | $1.8B |
| Operating income | -$5M | $6M | $13M | $660M | $1.1B | $245M | $525M | $813M | $1.1B |
| Pre-tax income | -$4M | $8M | $26M | $678M | $1.1B | $249M | $832M | $1.3B | $2.4B |
| Income tax | $304,000 | $765,000 | $1M | $6M | -$274M | $146M | $195M | $305M | $522M |
| Net income | -$4M | $8M | $25M | $672M | $1.4B | $104M | $637M | $1.0B | $1.9B |
| EPS (diluted) | -$0.11 | $0.00 | $0.09 | $2.25 | $4.50 | $0.34 | $2.07 | $3.21 | $6.18 |
| Diluted shares | 78M | 116M | 254M | 298M | 306M | 304M | 309M | 315M | 307M |
| Gross margin | 79.7% | 81.5% | 81.5% | 69.0% | 74.3% | 74.9% | 76.2% | 75.8% | 77.0% |
| Operating margin | -3.2% | 1.9% | 2.0% | 24.9% | 25.9% | 5.6% | 11.6% | 17.4% | 23.1% |
| Net margin | -2.5% | 2.3% | 4.1% | 25.4% | 33.6% | 2.4% | 14.1% | 21.7% | 39.0% |
Balance sheet
Fiscal years, from Zoom Video Communications's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $36M | $176M | $855M | $4.2B | $5.4B | $5.4B | $7.0B | $7.8B | $7.8B |
| Receivables | — | $64M | $120M | $295M | $420M | $557M | $536M | $495M | $497M |
| Total current assets | — | $277M | $1.1B | $4.8B | $6.2B | $6.4B | $7.9B | $8.7B | $8.7B |
| Property, plant and equipment | — | $37M | $57M | $150M | $222M | $253M | $294M | $330M | $265M |
| Goodwill | — | — | $0 | $24M | $28M | $123M | $307M | $307M | $400M |
| Total assets | — | $355M | $1.3B | $5.3B | $7.6B | $8.1B | $9.9B | $11.0B | $12.0B |
| Total current liabilities | — | $152M | $334M | $1.3B | $1.6B | $1.7B | $1.8B | $1.9B | $2.0B |
| Total liabilities | — | $202M | $456M | $1.4B | $1.8B | $1.9B | $1.9B | $2.1B | $2.2B |
| Shareholders' equity | -$27M | -$7M | $834M | $3.9B | $5.8B | $6.2B | $8.0B | $8.9B | $9.8B |
| Net debt | -$36M | -$64M | -$283M | -$2.2B | -$1.1B | -$1.1B | -$1.6B | -$1.3B | -$1.3B |
Cash flow
Fiscal years, from Zoom Video Communications's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $19M | $51M | $152M | $1.5B | $1.6B | $1.3B | $1.6B | $1.9B | $2.0B |
| Capital spending | $10M | $28M | $38M | $80M | $133M | $104M | $127M | $137M | $65M |
| Free cash flow | $10M | $23M | $114M | $1.4B | $1.5B | $1.2B | $1.5B | $1.8B | $1.9B |
| Stock-based compensation | $10M | $9M | $73M | $276M | $477M | $1.3B | $1.1B | $931M | $761M |
| Share buybacks (net) | — | — | — | $0 | $0 | -$1.0B | $0 | -$1.1B | -$1.6B |
| Free cash flow margin | 6.4% | 6.9% | 18.3% | 52.5% | 35.9% | 27.0% | 32.5% | 38.8% | 39.5% |
Questions
What was Zoom Video Communications's revenue in 2026?
$4.9B in fiscal 2026, from its 10-K filing.
How much free cash flow does Zoom Video Communications generate?
$1.9B in fiscal 2026 (operating cash flow minus capital spending).
From Zoom Video Communications's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.