Zscaler (ZS) Operating Expenses (2017 - 2026)
Zscaler's Operating Expenses was $2.71 billion in FY2026 (year ended Jul 31, 2026), up 24.0% from $2.18 billion in FY2025.
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Analysis
Zscaler (ZS) Operating Expenses (2017 - 2026) Analysis & Trends
From FY2016 onward, Zscaler has reported Operating Expenses for 11 fiscal years.
- Operating Expenses has now increased for ten consecutive fiscal years, with a five-year compound annual growth rate of 30.0% (FY2021 to FY2026).
- The FY2026 figure marks the highest annual Operating Expenses in data going back to FY2016.
- Per Business Quant data, Operating Expenses in earlier fiscal years was $2.18 billion in FY2025 (+20.5%), $1.81 billion in FY2024 (+21.7%), $1.49 billion in FY2023 (+26.6%) and $1.18 billion in FY2022 (+61.0%).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 277.52 Bn | 262.59 Bn | 2.30 Bn | 2.13 Bn |
| 2 | CrowdStrike Holdings | 249.50 Bn | 229.90 Bn | 1.10 Bn | 1.13 Bn |
| 3 | Fortinet | 133.40 Bn | 119.33 Bn | 1.64 Bn | 953.90 Mn |
| 4 | Snowflake | 117.12 Bn | 104.44 Bn | 1.04 Bn | 1.30 Bn |
| 5 | Datadog | 94.86 Bn | 76.51 Bn | 881.34 Mn | 875.89 Mn |
| 6 | Okta | 36.37 Bn | 26.46 Bn | 641.00 Mn | 534.00 Mn |
| 7 | Zscaler | 35.35 Bn | 21.47 Bn | - | - |
| 8 | Axon Enterprise | 33.67 Bn | 28.19 Bn | 546.45 Mn | 499.67 Mn |
| 9 | MongoDB | 29.54 Bn | 20.01 Bn | 569.77 Mn | 541.37 Mn |
| 10 | F5 | 25.93 Bn | 20.34 Bn | 711.51 Mn | 498.25 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jan 31, 2026 | 676.26 Mn |
| Oct 31, 2025 | 639.72 Mn |
| Jul 31, 2025 | 579.23 Mn |
| Apr 30, 2025 | 547.47 Mn |
| Jan 31, 2025 | 539.54 Mn |
| Oct 31, 2024 | 517.16 Mn |
| Jul 31, 2024 | 489.61 Mn |
| Apr 30, 2024 | 437.88 Mn |
| Jan 31, 2024 | 453.26 Mn |
| Oct 31, 2023 | 431.37 Mn |
| Jul 31, 2023 | 396.88 Mn |
| Apr 30, 2023 | 378.70 Mn |
| Jan 31, 2023 | 365.23 Mn |
| Oct 31, 2022 | 347.94 Mn |
| Jul 31, 2022 | 332.28 Mn |
| Apr 30, 2022 | 309.38 Mn |
| Jan 31, 2022 | 281.71 Mn |
| Oct 31, 2021 | 252.72 Mn |
| Jul 31, 2021 | 218.99 Mn |
| Apr 30, 2021 | 181.28 Mn |
API Access
Zscaler Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ZS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ZS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ZS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();