Company: ZM
Filing Date: 2025-11-25
Form Type: 10-Q
Source: 0001585521-25-000202
Chunk: 277

Company: Zoom Communications, Inc.
Filing Date: 2025-11-25
Form: 10-Q
Item: Part I, Item 1
Chunk 277
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 Months Ended October 31,2025202420252024(as a percentage of revenue)Revenue100.0 %100.0 %100.0 %100.0 %Cost of revenue22.1 24.1 22.7 24.2 Gross profit77.9 75.9 77.3 75.8 Operating expenses:Research and development17.1 18.9 17.2 18.2 Sales and marketing27.9 30.7 28.4 30.7 General and administrative7.7 10.8 7.6 10.0 Total operating expenses52.7 60.4 53.2 58.9 Income from operations25.2 15.5 24.1 16.9 Gains on strategic investments, net33.0 0.5 12.1 0.8 Other income, net6.4 7.8 6.8 7.2 Income before provision for income taxes64.6 23.8 43.0 24.9 Provision for income taxes14.8 6.2 9.1 6.4 Net income49.8 %17.6 %33.9 %18.5 %

31

Comparison of the Three Months Ended October 31, 2025 and 2024 

RevenueThree Months Ended October 31,20252024% Change(in thousands) Revenue$1,229,835 $1,177,541 4.4 %

Revenue for the three months ended October 31, 2025 increased by $52.3 million, or 4.4%, compared to the three months ended October 31, 2024. The increase was driven by 6.1% growth in revenue from Enterprise customers, of which 67% and 33% was from new and existing customers, respectively, and by a 2.0% increase in revenue from Online customers.

Cost of RevenueThree Months Ended October 31,20252024% Change(in thousands)Cost of revenue$271,770 $283,881 (4.3)%Gross profit958,065 893,660 7.2 %Gross margin77.9 %75.9 %

Cost of revenue for the three months ended October 31, 2025