Zoom founder and CEO Eric S. Yuan, who made a statement on the subject, said, “In the third quarter, we held our annual user event Zoomtopia on Zoom Events, one of the new features of our platform. In this immersive and multi-channel conference, we focused on how we put our users at the center of our communication platform, We have announced many innovations to the new workflows we have added, from Zoom’s ability to raise the bar in terms of collaboration, to Zoom Events, where we strengthen the hands of businesses in communicating face-to-face with their customers, and to the Video Engagement Center that we will soon present. We introduced our Hot Desking, Whiteboarding and Smart Gallery solutions, which we designed to strengthen all working models, whether from the office, remotely or hybrid. As Zoom, we will continue to add happiness and value to our customers with innovation and dedication. Looking ahead, we look forward to strong profitability and In addition to the growth in operating cash flow, we expect to close this year with 54% growth in total revenue between $4,079 and $4,081 billion. We are on track to become an indispensable platform for businesses, individuals and developers to connect, collaborate and create flexible hybrid work worlds. While walking towards our future goals; We believe that our global brand, innovative technologies and large customer base are our most important advantages.”
Third Quarter Financial Summary for Fiscal Year 2022
According to the report, when the financial summary of the third quarter of the 2022 fiscal year is analyzed, the total revenue grew by 35% compared to the same period of the previous year and became 1 billion 50 million 800 thousand dollars. Looking at operating income and operating margin, GAAP operating income was $290.9 million, up $98.7 million from the third quarter of fiscal 2021. Non-GAAP income from operations is also $411.3 million, up $120.5 million from the third quarter of fiscal 2021, after adjusting for equity-based compensation expense and related payroll taxes, common stock donation-related expenses, and acquisition-related expenses. rose. In the third quarter, GAAP operating margin was 27.7%, while non-GAAP operating margin was 39.1%.
Net income exceeded $340 million in the third quarter
GAAP net income attributable to common stockholders for the third quarter was $198.4 million, or $0.66 per share, for the third quarter of fiscal 2021, compared to $340.3 million, or $1.11 per share, for the quarter. After adjusting for share-based compensation expense and related payroll taxes, expenses related to charitable donations of common stock, acquisition-related expenses, and retained earnings attributable to participating securities, non-GAAP net income was $338.4 million. In the third quarter of fiscal 2021, non-GAAP net income per share was $1.11, non-GAAP net income was $297.2 million, and $0.99 per share.
On the cash and marketable collateral side, total cash, cash equivalents and marketable collateral were $5.4 billion as of October 31, 2021. Net cash from operating activities was $394.6 million compared to $411.5 million in the third quarter of fiscal 2021. Free cash flow, defined as net cash from operational activities excluding real estate and equipment purchases, was $374.8 million in the third quarter of fiscal 2021, up from $388.2 million.
According to the details in the report, which also includes customer information, the factors affecting the increase in total revenue include acquiring new customers and expanding the scope of services provided to existing customers. At the end of the third quarter of fiscal year 2022, Zoom’s customer numbers were announced as follows:
“While reaching 2,507 customers who contributed more than 100 thousand dollars to the last 12 months’ revenues, this number increased by a maximum of 94% compared to the same quarter of the previous fiscal year. The maximum number of customers with more than 10 employees in total is 512 thousand 100 and compared to the same quarter of the previous fiscal year. For customers with more than 10 employees in total, net revenue growth in the last 12 months was over 130% for 14 consecutive quarters.”
Looking at the financial outlook, Zoom also shared its expectations for the fourth quarter of the 2022 fiscal year and the entire 2022 fiscal year:
“Fourth Quarter 2022: Total revenue expected to be between $1.051 billion and $1.053 billion, non-GAAP operating income expected to be between $361 and $363 million. When non-GAAP income is subtracted, revenue per share is approximately $307 million outstanding non-GAAP Weighted average expected to be between $1.06 and $1.07 per share Full Fiscal Year 2022: Total revenue expected to be between $4,079 and $4,081 billion Non-GAAP operating income expected to be between $1,598 and $1,600 billion Earnings per share from which non-GAAP operations are excluded is expected to be between $4.84 and $4.85 with approximately 306 million non-GAAP weighted average shares outstanding.”
Zoom’s announced results were prepared by evaluating non-GAAP outcomes with the most comparable GAAP metrics. GAAP measures corresponding to non-GAAP guidance measures have not been prepared prospectively without unreasonable effort due to the uncertainty of future expenditure.
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