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 | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 38.40 Bn |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 722.41 Mn |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | 6.13 Bn |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 754.00 Mn |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 397.00 Mn |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | 13.79 Mn |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 580.00 Mn |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | -61.99 Mn |
| 10 | Zscaler | 22.71 Bn | 19.35 Bn | 624.49 Mn | -51.77 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |