Company: ZM
Filing Date: 2025-05-23
Form Type: 10-Q
Source: 0001585521-25-000090
Chunk: 270

Company: Zoom Communications, Inc.
Filing Date: 2025-05-23
Form: 10-Q
Item: Part I, Item 1
Chunk 270
---
 Net income$254,603 $216,308 (1) Includes stock-based compensation expense as follows:Cost of revenue$27,427 $31,575 Research and development72,936 82,569 Sales and marketing68,433 77,234 General and administrative32,773 38,047 Total stock-based compensation expense$201,569 $229,425 

Three Months Ended April 30,20252024(as a percentage of revenue)Revenue100.0 %100.0 %Cost of revenue23.7 23.9 Gross profit76.3 76.1 Operating expenses:Research and development17.5 18.0 Sales and marketing29.5 30.5 General and administrative8.7 9.8 Total operating expenses55.7 58.3 Income from operations20.6 17.8 (Losses) gains on strategic investments, net(1.2)1.5 Other income, net7.5 6.3 Income before provision for income taxes26.9 25.6 Provision for income taxes5.2 6.6 Net income21.7 %19.0 %

28

Comparison of the Three Months Ended April 30, 2025 and 2024 

RevenueThree Months Ended April 30,20252024% Change(in thousands) Revenue$1,174,715 $1,141,234 2.9 %

Revenue for the three months ended April 30, 2025, increased by $33.5 million, or 2.9%, compared to the three months ended April 30, 2024. The increase was driven by a 5.9% increase in revenue from Enterprise customers, of which 33.7% and 66.3% were from existing and new customers, respectively, partially offset by a 1.2% decline in revenue from Online customers.

Cost of RevenueThree Months Ended April 30,20252024% Change(in thousands)Cost of revenue$278,402 $273,302 1.9 %Gross profit896,313 867,932 3.3 %Gross margin76.3 %76.1 %

Cost of revenue for the three months ended April 30, 2025, increased by $5.1 million, or 1