When Zscaler Inc. (NASDAQ: ZS) reported its fiscal first-quarter results after the markets closed on Tuesday, the company said it had $0.01 in earnings per share (EPS) and $63.3 million in revenue. That compared with consensus estimates from Thomson Reuters that called for a net loss of $0.05 per share and $58.7 million in revenue, as well as the −$0.24 per share and $39.86 million posted in the same period of last year.
In the latest quarter, revenues grew 59% year over year, while deferred revenues totaled $165.3 million, an increase of 68% year over year. Calculated billings grew 56% year over year to $64.6 million.
Also during the quarter, Zscaler Private Access (ZPA) became the first zero trust architecture to achieve Amazon Web Service (AWS) Security Competency status. AWS established the AWS Competency Program to help customers identify Consulting and Technology Partners in the Amazon Partner Network with deep industry experience and expertise.
Looking ahead to the fiscal second quarter, the company expects to see EPS in the range of flat to $0.02 and total revenue between $65 million and $67 million. Consensus estimates call for a net loss of $0.01 per share and $67.56 million in revenue.
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On the books, Zscaler’s cash, cash equivalents and short-term investments totaled $314.0 million, up from $298.5 million at the end of the previous fiscal year.
Jay Chaudhry, board chair and chief executive of Zscaler, commented:
We are executing on our vision and seeing good momentum in our business, as reflected in our strong first quarter financial results and increased outlook for the second quarter and full year fiscal 2019. We are seeing significant demand for our high-end Transformation bundle as well as rapid growth in Zscaler Private Access, as more enterprises embrace cloud transformation. We are very pleased with our operating results, which demonstrate the leverage in our business model. Going forward, we will continue to aggressively invest in our business to pursue our large market opportunity.
Shares of Zscaler were last seen up 12% at $41.80 on Thursday, in a 52-week range of $24.76 to $48.24. The consensus analyst price target is $44.38.
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