Zscaler (ZS) Cost of Revenue (2017 - 2026)
Zscaler (ZS) posted quarterly Cost of Revenue of $191.3 million for Q1 2026, up 28.8% year-over-year from $148.5 million in Q1 2025, and up 3.52% quarter-over-quarter from $184.8 million in Q4 2025.
Zscaler (ZS) Cost of Revenue (2017 - 2026) Analysis & Trends
Zscaler (ZS) has reported Cost of Revenue for 10 consecutive years, with $191.3 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Cost of Revenue rose 28.8% year-over-year to $191.3 million; the TTM figure through Jan 2026 stood at $704.2 million (up 30.78% YoY), while the FY2025 annual figure was $618.2 million, up 29.56% from the prior year.
- Cost of Revenue improved to $191.3 million in Q1 2026 per ZS's latest filing, from $184.8 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $191.3 million in Q1 2026 and bottomed at $57.8 million in Q1 2022.
- Historically, Cost of Revenue has averaged $119.1 million across 5 years, with a median of $117.2 million in 2024.
- Annual changes were most pronounced in 2022 — Cost of Revenue surged 69.28% — and 2024, when it increased 23.46%.
- Zscaler's Cost of Revenue stood at $76.7 million in 2022, then soared by 45.24% to $111.4 million in 2023, then grew by 26.99% to $141.5 million in 2024, then jumped by 30.6% to $184.8 million in 2025, then climbed by 3.52% to $191.3 million in 2026.
- Business Quant data shows ZS's Cost of Revenue at $191.3 million in Q1 2026, $184.8 million in Q4 2025, and $172.2 million in Q3 2025.
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