Company: ZM
Filing Date: 2025-11-25
Form Type: 10-Q
Source: 0001585521-25-000202
Chunk: 315

Company: Zoom Communications, Inc.
Filing Date: 2025-11-25
Form: 10-Q
Item: Part I, Item 8
Chunk 315
---
 follows:Cost of revenue$23,121 $30,439 $74,770 $93,313 Research and development70,176 89,836 213,588 254,002 Sales and marketing61,399 80,738 192,926 242,197 General and administrative30,586 39,982 94,266 118,858 Total stock-based compensation expense$185,282 $240,995 $575,550 $708,370 

Three Months Ended October 31,Nine 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