Company: ZM
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016910
Chunk: 35

Company: Zoom Communications, Inc.
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 35
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 Summary In the years following our initial public offering in 2019, our business grew rapidly as we expanded from a video communications tool to a full collaboration platform. Our growth was further fueled during the COVID-19 pandemic when we mobilized as a company to keep the world connected. We grew significantly in size to manage this demand while enabling continued innovation. The emergence from pandemic, and subsequent economic downturn in years thereafter, presented headwinds. We continue to transform our compensation program to reflect our evolution into a more mature stage business. We remain committed to a straightforward, transparent compensation structure, designed to best motivate our executive officers and drive long-term value creation for our stockholders. While our compensation historically favored equity over cash compensation, we are shifting our executive compensation program to increase performance cash bonus opportunities and decrease annual equity compensation in fiscal 2026 and fiscal 2027 in order to better reflect market practices. Summary of Fiscal 2025 Performance In fiscal 2025, we sharpened our focus as an AI-first work platform, refining our strategy and reinforcing our core values in the face of ongoing macroeconomic pressures to position ourselves for long-term success. This year, we took proactive measures to reestablish three key strategic priorities, which are now guiding our organization: expanding our AI capabilities to drive customer value, rapidly innovating within Zoom Workplace and building upon our momentum with new products such as Contact Center and Workvivo. With our proven product innovation, maturing go-to-market engine and fine-tuned financial discipline, we are primed to drive sustainable growth and additional value for our customers and stockholders. The following fiscal 2025 business results provide context for stockholders reviewing our executive compensation disclosures:

| • | Revenue:Total revenue for the fiscal year was $4,665.4 million, up 3.1% year over year. |

| • | Income from Operations:GAAP income from operations for the fiscal year was $813.3 million, up from GAAP income from operations of $525.3 million for fiscal 2024. Non-GAAP income from operations for the fiscal year was $1,837.9 million, up from $1,774.9 million for fiscal 2024.1 |

| • | Cash Flow:Net cash provided by operating activities was $1,945.3 million for the fiscal year, up from $1,598.8 million for fiscal 2024. |

| 1 | See Appendix A to this proxy statement for information regarding our use of non-GAAP income from