Company: ZM
Filing Date: 2025-11-25
Form Type: 10-Q
Source: 0001585521-25-000202
Chunk: 254

Company: Zoom Communications, Inc.
Filing Date: 2025-11-25
Form: 10-Q
Item: Part I, Item 1
Chunk 254
---
6,442,329 Strategic InvestmentsStrategic investments by type and measurement category as of October 31, 2025 were as follows:Measurement CategoryFair ValueMeasurement AlternativeEquity MethodTotal(in thousands)Equity securities$98,260 $822,753 $127,634 $1,048,647 Debt securities3,957 — — 3,957 Strategic investments$102,217 $822,753 $127,634 $1,052,604 Strategic investments by type and measurement category as of January 31, 2025 were as follows:Measurement CategoryFair ValueMeasurement AlternativeEquity MethodTotal(in thousands)Equity securities$35,280 $452,160 $99,591 $587,031 Debt securities4,450 — — 4,450 Strategic investments$39,730 $452,160 $99,591 $591,481 During the three and nine months ended October 31, 2025, we recorded net unrealized gains of $388.0 million and $395.0 million, respectively, on our investments accounted for under the measurement alternative method, primarily reflecting changes in estimated fair values.

15

4.    Fair Value Measurements

The following tables present information about our financial instruments that are measured at fair value on a recurring basis and indicate the level within the fair value hierarchy of the key valuation inputs utilized to determine such fair value:As of October 31, 2025Fair ValueLevel 1Level 2Level 3(in thousands)Financial Assets:Money market funds$626,789 $626,789 $— $— Treasury bills4,998 — 4,998 — Agency bonds36,988 — 36,988 — Cash equivalents668,775 626,789 41,986 — U.S. government agency securities4,950,856 — 4,950,856 — Agency bonds968,404 — 968,404 — Corporate and other debt securities750,925 — 750,925 — Treasury bills54,247 — 54,247 — Commercial paper2,996 — 2,996 — Marketable securities6,727,428 — 6,727,428 — Publicly held equity securities included in strategic investments98,260