Condensed Consolidated Statements of Cash Flows(Unaudited, in thousands) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023Cash flows from operating activities: Net income$207,050 $141,212 $642,373 $338,630 Adjustments to reconcile net income to net cash provided by operating activities: Stock-based compensation expense 240,995 258,934 708,370 802,788 Amortization of deferred contract acquisition costs 71,227 65,164 211,040 203,908 Depreciation and amortization 32,290 26,977 88,041 77,179 Deferred income taxes (14,269) 6,081 (72,135) 20,056 (Gains) losses on strategic investments, net (6,324) 25,471 (26,785) (8,474)Provision for accounts receivable allowances 4,521 6,858 17,039 29,062 Unrealized foreign exchange (gains) losses (2,428) 18,598 4,801 23,281 Non-cash operating lease cost 5,904 5,184 17,861 15,841 Amortization of discount/premium on marketable securities (18,925) (15,293) (54,765) (33,307)Other 4,643 (1,836) 3,418 (5,251)Changes in operating assets and liabilities: Accounts receivable 66,635 58,362 74,272 71,993 Prepaid expenses and other assets (66,789) (40,567) (5,754) (124,455)Deferred contract acquisition costs (56,076) (53,427) (166,795) (146,354)Accounts payable (1,714) (7,257) (1,447) (2,258)Accrued expenses and other liabilities 50,999 58,936 (2,968) (15)Deferred revenue (27,381) (54,414) 106,248 1,918 Operating lease liabilities, net (7,141) (5,830) (22,072) (16,931)Net cash provided by operating activities 483,217 493,153 1,520,742 1,247,611 Cash flows from investing activities: Purchases of marketable securities (1,520,851) (1,137,431) (3,702,166) (2,963,597)Maturities of marketable securities 1,046,249 814,958 2,690,418 2,358,078 Sales of marketable securities 47,482 — 47,482 — Purchases of property and equipment (25,484) (39,987) (128,226) (108,413)Purchases of strategic investments — (1,800) (13,500) (52,800)Proceeds from strategic investments 200 — 4,854 107,244 Cash paid for acquisition, net of cash acquired — — — (204,918)Net cash used in investing activities (452,404) (364,260) (1,101,138) (864,406)Cash flows from financing activities: Proceeds from exercise of stock options 1,897 650 3,752 8,336 Proceeds from issuance of common stock for employee stock purchase plan — — 34,263 32,513 Proceeds from employee equity transactions (remitted) to be remitted to employees and tax authorities, net (669) (6,156) 2,190 (4,897)Cash paid for repurchases of common stock (301,618) — (739,311) — Net cash (used in) provided by financing activities (300,390) (5,506) (699,106) 35,952 Effect of exchange rate changes on cash, cash equivalents, and restricted cash 3,126 (17,492) (3,020) (21,273)Net (decrease) increase in cash, cash equivalents, and restricted cash (266,451) 105,895 (282,522) 397,884 Cash, cash equivalents, and restricted cash – beginning of period 1,549,309 1,392,232 1,565,380 1,100,243 Cash, cash equivalents, and restricted cash – end of period$1,282,858 $1,498,127 $1,282,858 $1,498,127 Zoom Communications, Inc.
Third quarter total revenue of $1,177.5 million, up 3.6% year over year as reported and in constant currencyThird quarter Enterprise revenue of $698.9 million, up 5.8% year over yearThird quarter GAAP operating margin of 15.5% and non-GAAP operating margin of 38.9%Number of customers contributing more than $100,000 in trailing 12 months revenue up 7.1% year over yearRepurchased approximately 4.4 million shares of common stock in third quarterIncreased total common stock repurchase authorization by $1.2 billion, resulting in approximately $2.0 billion remaining to be repurchased SAN JOSE, Calif., Nov.25, 2024 (GLOBE NEWSWIRE) -- Zoom Communications, Inc.(NASDAQ: ZM) today announced financial results for the third fiscal quarter ended October 31, 2024.
Non-GAAP income from operations, which adjusts for stock-based compensation expense and related payroll taxes, acquisition-related expenses, and litigation settlements, net, was $457.8 million for the third quarter, compared to non-GAAP income from operations of $447.1 million in the third quarter of fiscal year 2024.
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Author / Journalist: Zoom Video Communications, Inc.
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