Zscaler (ZS) EBITDA (2017 - 2026)

Zscaler's (ZS) quarterly EBITDA came in at -$51.8 million in Q1 2026, down 28.98% year-on-year from -$72.9 million in Q1 2025, and down 42.38% on a QoQ basis from -$36.4 million in Q4 2025.

Zscaler (ZS) EBITDA (2017 - 2026) Analysis & Trends

Zscaler (ZS) has 10 years of EBITDA data on file, last reported at -$51.8 million in Q1 2026.

  • On a quarterly basis, EBITDA fell 28.98% year-over-year to -$51.8 million in Q1 2026; TTM through Jan 2026 was -$145.8 million, a 44.67% decrease from a year earlier, with the FY2025 full-year figure at -$128.5 million, down 5.75% from the prior year.
  • EBITDA for Q1 2026 stood at -$51.8 million, down from -$36.4 million in the prior quarter.
  • Over the last five years, EBITDA for ZS reached as high as -$3.0 million in Q2 2024 and fell as low as -$86.6 million in Q2 2022.
  • Historically, EBITDA has averaged -$48.6 million across 5 years, with a median of -$45.5 million in 2024.
  • Across the five-year window, EBITDA soared 94.6% in 2024 and slumped 743.38% in 2025, its largest moves.
  • Year by year, EBITDA stood at -$69.1 million in 2022, then surged by 33.33% to -$46.1 million in 2023, then surged by 33.42% to -$30.7 million in 2024, then retreated by 18.57% to -$36.4 million in 2025, then sank by 42.38% to -$51.8 million in 2026.
  • Per Business Quant data, the three most recent EBITDA figures were -$51.8 million in Q1 2026, -$36.4 million in Q4 2025, and -$32.2 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) EBITDA (Qtr)
1 Microsoft 2,834.76 Bn 2,710.32 Bn 56.06 Bn 38.40 Bn
2 PagSeguro Digital 2,643.44 Bn 2,643.44 Bn 358.92 Mn 722.41 Mn
3 Oracle 345.72 Bn 314.37 Bn - 6.13 Bn
4 Repay Holdings 297.29 Bn 297.14 Bn - -
5 Palantir Technologies 295.33 Bn 287.41 Bn 1.42 Bn 754.00 Mn
6 Pagaya Technologies 249.07 Bn 249.08 Bn 140.38 Mn 80.01 Mn
7 Palo Alto Networks 228.92 Bn 224.38 Bn 1.91 Bn 397.00 Mn
8 CrowdStrike Holdings 183.84 Bn 180.79 Bn 993.68 Mn 13.79 Mn
9 Fortinet 111.23 Bn 107.94 Bn 1.49 Bn 580.00 Mn
10 Zscaler 22.31 Bn 18.95 Bn 624.49 Mn -51.77 Mn

Historic Data

Download Data
DateValue
Jan 31, 2026 -51.77 Mn
Oct 31, 2025 -36.36 Mn
Jul 31, 2025 -32.24 Mn
Apr 30, 2025 -25.41 Mn
Jan 31, 2025 -40.14 Mn
Oct 31, 2024 -30.67 Mn
Jul 31, 2024 -26.95 Mn
Apr 30, 2024 -3.01 Mn
Jan 31, 2024 -45.46 Mn
Oct 31, 2023 -46.06 Mn
Jul 31, 2023 -44.55 Mn
Apr 30, 2023 -55.75 Mn
Jan 31, 2023 -65.24 Mn
Oct 31, 2022 -69.09 Mn
Jul 31, 2022 -82.53 Mn
Apr 30, 2022 -86.60 Mn
Jan 31, 2022 -83.93 Mn
Oct 31, 2021 -74.37 Mn
Jul 31, 2021 -67.40 Mn
Apr 30, 2021 -43.85 Mn