Zscaler Inc (ZS) 2022 Q1 法說會逐字稿

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  • Operator

    Operator

  • Good day, and thank you for standing by, and welcome to the Zscaler First Quarter 2022 Earnings Call. (Operator Instructions) Please be advised that this call is being recorded. (Operator Instructions)

    美好的一天,感謝您的支持,歡迎參加 Zscaler 2022 年第一季度財報電話會議。 (操作員說明)請注意,此通話正在錄音中。 (操作員說明)

  • I would now like to hand the conference over to your host today, Bill Choi, VP Investor Relations and Strategic Finance. Please go ahead, Mr. Choi.

    我現在想把會議交給今天的主持人,投資者關係和戰略財務副總裁 Bill Choi。請繼續,崔先生。

  • Bill Choi - Senior Vice President, Investor Relations and Strategic Finance

    Bill Choi - Senior Vice President, Investor Relations and Strategic Finance

  • Good afternoon, everyone, and welcome to the Zscaler Fiscal First Quarter 2022 Earnings Conference Call. On the call with me today are Jay Chaudhry, Chairman and CEO; and Remo Canessa, CFO. Please note that we have posted our earnings release and a supplemental financial schedule to our Investor Relations website. Unless otherwise noted, all numbers we talk about today will be on an adjusted non-GAAP basis. You will find the reconciliation of GAAP to the non-GAAP financial measures in our earnings release.

    大家下午好,歡迎參加 Zscaler 2022 年第一季度財報電話會議。今天與我通話的是董事長兼首席執行官 Jay Chaudhry;和首席財務官雷莫·卡內薩。請注意,我們已在我們的投資者關係網站上發布了我們的收益發布和補充財務時間表。除非另有說明,否則我們今天討論的所有數字都將基於調整後的非公認會計原則。您將在我們的收益發布中找到 GAAP 與非 GAAP 財務指標的對賬。

  • I'd like to remind you that today's discussion will contain forward-looking statements, including, but not limited to, the company's anticipated future revenue, calculated billings, operating performance, gross margin, operating expenses, operating income, net income, free cash flow, dollar-based net retention rate, future hiring decisions, remaining performance obligations, income taxes, earnings per share, our market share and market opportunity. These statements and other comments are not guarantees of future performance, but rather are subject to risks and uncertainties, some of which are beyond our control. These forward-looking statements apply as of today, and you should not rely on them as representing our views in the future. We undertake no obligation to update these statements after this call. For a more complete discussion of the risks and uncertainties, please see our filings with the SEC as well as in today's earnings release. We will upload a copy of today's prepared remarks to the IR website when we move to the Q&A segment of the call.

    我想提醒您,今天的討論將包含前瞻性陳述,包括但不限於公司預期的未來收入、計算的賬單、經營業績、毛利率、經營費用、經營收入、淨收入、自由現金流量、基於美元的淨保留率、未來的招聘決定、剩餘的履約義務、所得稅、每股收益、我們的市場份額和市場機會。這些陳述和其他評論不是對未來業績的保證,而是受到風險和不確定性的影響,其中一些是我們無法控制的。這些前瞻性陳述自今天起適用,您不應依賴它們來代表我們未來的觀點。我們不承擔在本次電話會議後更新這些聲明的義務。有關風險和不確定性的更完整討論,請參閱我們向美國證券交易委員會提交的文件以及今天的收益報告。當我們轉到電話的問答部分時,我們會將今天準備好的評論的副本上傳到 IR 網站。

  • I would also like to inform you that we'll be attending the following upcoming events in December, Nasdaq Investor Conference, Barclays Global TMT Conference, BMO Growth and ESG Conference.

    我還想通知您,我們將參加 12 月即將舉行的以下活動:納斯達克投資者會議、巴克萊全球 TMT 會議、BMO 增長和 ESG 會議。

  • Now I'll turn the call over to Jay.

    現在我將把電話轉給傑伊。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Thank you, Bill. Building on our incredible momentum from last year, we had an exceptionally strong start to fiscal '22. In Q1, we delivered 62% of revenue growth and 71% billings growth while generating record operating profits and free cash flow. We are again seeing strong revenue growth across all verticals, customer segments and geographies with over half of our revenue coming from outside the U.S. We recently achieved a significant milestone of surpassing $1 billion in annual recurring revenue while continuing rapid growth.

    謝謝你,比爾。在去年令人難以置信的勢頭的基礎上,我們在 22 財年取得了異常強勁的開端。在第一季度,我們實現了 62% 的收入增長和 71% 的賬單增長,同時創造了創紀錄的營業利潤和自由現金流。我們再次看到所有垂直領域、客戶群和地區的收入增長強勁,我們一半以上的收入來自美國以外。我們最近實現了一個重要的里程碑,即年經常性收入超過 10 億美元,同時繼續保持快速增長。

  • In my recent dialogues with hundreds of CISOs and CIOs, 8 out of 10 are looking to phase out legacy network security in favor of zero trust architecture due to increasing cybersecurity risks and accelerating digital transformation initiatives. I will highlight 2 main reasons why enterprises are selecting Zscaler over legacy solutions.

    在我最近與數百名 CISO 和 CIO 的對話中,由於網絡安全風險增加和加速數字化轉型計劃,十分之八的人正在尋求逐步淘汰傳統網絡安全,轉而支持零信任架構。我將強調企業選擇 Zscaler 而不是傳統解決方案的兩個主要原因。

  • One, we saw a more than 300% year-over-year increase in sophisticated threats hidden in SSL-encrypted traffic. A large number of them are ransomware attacks and most would bypass next-gen firewalls, which aren't designed to inspect encrypted traffic at scale. We are the only cloud provider with a proxy architecture designed to inspect SSL-encrypted traffic at scale to deliver better security.

    第一,我們看到隱藏在 SSL 加密流量中的複雜威脅同比增長 300% 以上。其中大量是勒索軟件攻擊,大多數會繞過下一代防火牆,這些防火牆並非旨在大規模檢查加密流量。我們是唯一擁有代理架構的雲提供商,旨在大規模檢查 SSL 加密流量以提供更好的安全性。

  • This year, our cloud has blocked more than 20 billion threats hidden in encrypted traffic.

    今年,我們的雲已經阻止了超過 200 億個隱藏在加密流量中的威脅。

  • Two, by connecting users only to applications and not to the network, a core principle of zero trust architecture, we eliminate lateral threat movement hence, reducing ransomware attacks such as the Colonial Pipeline breach. In contrast, firewalls and VPNs connect users to the network, enabling lateral threat movement. It is clear from our growth and enterprise wins that architecture matters, and zero trust security can't be built on legacy network security architecture. This gives us long-term advantage.

    第二,通過將用戶僅連接到應用程序而不是網絡,零信任架構的核心原則,我們消除了橫向威脅移動,從而減少了勒索軟件攻擊,例如殖民地管道漏洞。相比之下,防火牆和 VPN 將用戶連接到網絡,從而實現橫向威脅移動。從我們的增長和企業勝利中可以清楚地看出,架構很重要,零信任安全不能建立在傳統的網絡安全架構上。這給了我們長期的優勢。

  • Turning to the quarter. Let me discuss 2 factors that drove our performance. One, we saw continued strength in new and upsell bookings of over $1 million in annual value. We drove 87% year-over-year growth in customers exceeding $1 million in ARR, ending with over 220 of these customers.

    轉向季度。讓我討論推動我們業績的兩個因素。第一,我們看到年價值超過 100 萬美元的新預訂和追加銷售預訂持續強勁。我們推動 ARR 超過 100 萬美元的客戶同比增長 87%,最終達到 220 多個客戶。

  • Two, the expansion down market to enterprise segment organizations with 2,000 to 6,000 employees is scaling, and it remains our fastest-growing segment. With increasing contribution from the enterprise segment, the total number of customers who pay us more than $100,000 per year is up 53% year-over-year to over 1,600. Our 71% billings growth this quarter speaks to the commitment that customers are making to our Zero Trust Exchange platform. As we have noted before, the purchase of ZIA is often the first step to adopting our platform. Let me share a couple of ZIA-driven deals.

    第二,向擁有 2,000 至 6,000 名員工的企業部門組織的向下擴展市場正在擴展,它仍然是我們增長最快的部門。隨著企業部門貢獻的增加,每年向我們支付超過 100,000 美元的客戶總數同比增長 53% 至 1,600 多個。我們本季度 71% 的賬單增長說明了客戶對我們的零信任交換平台的承諾。正如我們之前提到的,購買 ZIA 通常是採用我們平台的第一步。讓我分享一些 ZIA 驅動的交易。

  • A Fortune 50 insurance company purchased ZIA transformation bundle with cloud firewall and sandbox, plus DLP and CASB for data protection, to secure 170,000 employees and affiliated agents working from anywhere. This customer wanted to secure and fast access to Internet and SaaS applications, particularly Microsoft 365 and Teams. Connecting to Zscaler's nearest edge cloud where we have direct peering with hundreds of application providers, their users are seeing a 75% improvement in response time.

    一家財富 50 強保險公司購買了包含雲防火牆和沙箱的 ZIA 轉換包,以及用於數據保護的 DLP 和 CASB,以保護 170,000 名員工和在任何地方工作的附屬代理。該客戶希望安全且快速地訪問 Internet 和 SaaS 應用程序,尤其是 Microsoft 365 和 Teams。連接到 Zscaler 最近的邊緣雲,我們與數百個應用程序提供商直接對等,他們的用戶看到響應時間提高了 75%。

  • Next, a leading defense industry integrator purchased ZIA for 200,000 users plus workload protection for Internet traffic. Our ZIA platform, which recently achieved FedRAMP high-ready status, will help them meet many requirements for CMMC, a cybersecurity standard for defense contractors. Zscaler is consolidating their several point products, simplifying the network, enforcing consistent cyber policy across multiple business units while reducing operational costs. We believe these large deals show that we are the only multi-tenant zero trust platform meeting the needs of major enterprises to transform the legacy hub-and-spoke network and castle-and-moat security.

    接下來,一家領先的國防工業集成商為 200,000 名用戶購買了 ZIA,並為 Internet 流量提供了工作負載保護。我們的 ZIA 平台最近獲得了 FedRAMP 高度就緒狀態,將幫助他們滿足國防承包商網絡安全標準 CMMC 的許多要求。 Zscaler 正在整合他們的多個單點產品,簡化網絡,在多個業務部門執行一致的網絡策略,同時降低運營成本。我們相信,這些大宗交易表明,我們是唯一滿足大型企業改造傳統中心輻射網絡和城堡護城河安全需求的多租戶零信任平台。

  • With customers shifting to the cloud, more are buying ZIA and ZPA together, enabling a true transformation with direct and seamless access to SaaS and private applications, whether on-prem or in public cloud. Here are a few examples.

    隨著客戶轉向雲端,越來越多的客戶同時購買 ZIA 和 ZPA,通過直接無縫訪問 SaaS 和私有應用程序(無論是在本地還是在公共雲中)實現真正的轉型。這裡有一些例子。

  • A Fortune 500 banking customer signed a 4-year commitment for 3 key pillars of our platform. Their existing ZIA contract was upgraded to include cloud firewall, sandbox, DLP, CASB and browser isolation. They also purchased ZPA for all 100,000 employees to implement app segmentation without having to implement legacy network segmentation. In addition, ZDX was purchased to identify and help remediate application, network or endpoint issues to ensure great user experience and employee productivity regardless of their location. This deal more than tripled the customer's annual spend with us. Having adopted full portfolio for user protection, we are now discussing zero trust security for workloads with this customer.

    一位財富 500 強銀行客戶簽署了一項為期 4 年的承諾,用於我們平台的 3 個關鍵支柱。他們現有的 ZIA 合同已升級為包括雲防火牆、沙盒、DLP、CASB 和瀏覽器隔離。他們還為所有 100,000 名員工購買了 ZPA,以實施應用程序分段,而無需實施舊網絡分段。此外,購買 ZDX 是為了識別和幫助修復應用程序、網絡或端點問題,以確保出色的用戶體驗和員工工作效率,無論他們身在何處。這筆交易使客戶在我們這裡的年度支出增加了兩倍多。在採用完整的用戶保護產品組合後,我們現在正在與該客戶討論工作負載的零信任安全性。

  • Next, in a new logo win, a Fortune 100 insurance customer purchased ZIA Transformation Bundle and ZPA for all 30,000 employees to pursue their cloud-first strategy. With cyber protection as a major requirement, this customer only considers a proxy architecture to perform SSL inspection at scale and rejected firewall-based architectures. ZPA will eliminate the attack surface, hiding the thousands of private applications behind our Zero Trust Exchange. Hence, they can't be discovered, exploited or DDoS-ed. We are consolidating at least 3 vendor point products, materially reducing complexity and operating cost.

    接下來,在贏得新徽標的過程中,一位財富 100 強保險客戶為所有 30,000 名員工購買了 ZIA Transformation Bundle 和 ZPA,以實施他們的雲優先戰略。由於網絡保護是一項主要要求,該客戶僅考慮使用代理架構來大規模執行 SSL 檢查,並拒絕使用基於防火牆的架構。 ZPA 將消除攻擊面,將數千個私有應用程序隱藏在我們的零信任交換背後。因此,它們無法被發現、利用或 DDoS 攻擊。我們正在整合至少 3 個供應商點產品,從而大大降低了複雜性和運營成本。

  • Our integration with CrowdStrike and Microsoft was also an important consideration for them.

    我們與 CrowdStrike 和 Microsoft 的集成也是他們的一個重要考慮因素。

  • Next, one of the powerful use cases for ZIA and ZPA is to accelerate M&A integration with significant ROI. An existing European-based Global 500 manufacturing customer purchased ZIA Transformation Bundle for 30,000 employees of the newly acquired business and ZPA for 50,000 users to accelerate the M&A integration. The legacy approach to providing access to private applications post acquisition requires integrating 2 complex corporate networks, which they expect to take 18 months or more without having to connect 2 corporate networks. Zscaler's approach provided secure access to SaaS or private applications across both companies in weeks, saving time and money. After having disrupted perimeter-based security for users with our Zero Trust Exchange, we are bringing zero trust to workloads with Zscaler Cloud Protection. Let me highlight a few ZCP wins.

    接下來,ZIA 和 ZPA 的強大用例之一是加速併購整合併帶來顯著的投資回報。一家現有的歐洲全球 500 強製造業客戶為新收購業務的 30,000 名員工購買了 ZIA Transformation Bundle,並為 50,000 名用戶購買了 ZPA,以加速併購整合。在收購後提供對私有應用程序的訪問的傳統方法需要集成 2 個複雜的公司網絡,他們預計這需要 18 個月或更長時間,而無需連接 2 個公司網絡。 Zscaler 的方法在幾週內為兩家公司提供了對 SaaS 或私有應用程序的安全訪問,從而節省了時間和金錢。在通過我們的零信任交換破壞了用戶基於邊界的安全性之後,我們通過 Zscaler Cloud Protection 為工作負載帶來了零信任。讓我強調一些 ZCP 的勝利。

  • An existing ZIA and ZPA state government customer purchased workload segmentation for over 4,500 workloads, along with ZDX and CASB for their 28,000 employees. This was a 7-figure annual contract value driven by our emerging products. Implementing zero trust for workloads will reduce their cyber risk by achieving microsegmentation without doing legacy network segmentation.

    現有的 ZIA 和 ZPA 州政府客戶為其 28,000 名員工購買了超過 4,500 個工作負載的工作負載分段,以及 ZDX 和 CASB。這是由我們的新興產品推動的 7 位數的年度合同價值。對工作負載實施零信任將通過在不進行傳統網絡分段的情況下實現微分段來降低其網絡風險。

  • Moving on to our workload posture offering. We are seeing increased interest from customers in CSPM for configurations and CIEM for entitlements. During the quarter, a tech company bought CSPM for over 9,000 workloads and a software enterprise bought CIEM for 5,000 workloads. Our workload communication offerings powered by ZIA and ZPA technology is building momentum with additional customer wins in the quarter. For example, a health care customer purchased workload communication for 3,500 workloads, and a financial services customer purchased it for 1,000 workloads.

    繼續我們的工作負載狀態產品。我們看到客戶對 CSPM 的配置和 CIEM 的權利越來越感興趣。在本季度,一家科技公司為 9,000 多個工作負載購買了 CSPM,一家軟件企業為 5,000 個工作負載購買了 CIEM。我們由 ZIA 和 ZPA 技術提供支持的工作負載通信產品正在建立勢頭,並在本季度贏得更多客戶。例如,一個醫療保健客戶為 3,500 個工作負載購買了工作負載通信,而一個金融服務客戶為 1,000 個工作負載購買了它。

  • When you look at these wins, our success starts with true zero trust architecture, which is the opposite of firewalls and VPNs. Our Zero Trust Exchange is the largest in-line cloud security platform in the world, processing over 200 billion transactions per day, which doubled in the last 18 months and is preventing more than 7 billion security and policy violations per day. This massive amount of traffic provides us 300 trillion signals per day to feed our machine learning and AI engines, resulting in superior threat protection and better detection of user and application traffic anomalies.

    當您看到這些勝利時,我們的成功始於真正的零信任架構,這與防火牆和 VPN 正好相反。我們的零信任交換是世界上最大的在線雲安全平台,每天處理超過 2000 億筆交易,在過去 18 個月中翻了一番,每天可防止超過 70 億次安全和政策違規行為。如此龐大的流量每天為我們提供 300 萬億個信號,為我們的機器學習和 AI 引擎提供信息,從而實現卓越的威脅防護並更好地檢測用戶和應用程序流量異常。

  • This network effect is a big competitive advantage for us. Each of our 150-plus data centers receives a continuous stream of more than 200,000 unique security updates every day. This can't be done with a single tenant VM-based architecture that legacy security vendors are running on public clouds and calling SASE. This is only possible with a purpose-built, highly scalable cloud that Zscaler built from day 1. I'm very proud of our pace of innovation that delivers value to our customers. Let me share a few stats for the quarter.

    這種網絡效應對我們來說是一個很大的競爭優勢。我們的 150 多個數據中心中的每一個每天都會收到超過 200,000 個獨特安全更新的連續流。這不能通過傳統安全供應商在公共雲上運行並調用 SASE 的單租戶基於 VM 的架構來完成。這只有通過 Zscaler 從第一天開始構建的專用、高度可擴展的雲才能實現。我為我們為客戶創造價值的創新步伐感到非常自豪。讓我分享一些本季度的統計數據。

  • ZIA delivered 29 Agile releases, and ZPA delivered 44 Agile releases. Each product pillar delivered scores of new features and enhancements. Our Threat Lab Security Research team discovered and delivered over 495,000 new advanced threat indicators and signatures to our global cloud. In addition, our cutting-edge security research scientists discovered and reported 18 new zero-day vulnerabilities. These are testimonials of the sophistication and scale of our research team. A great platform combined with a great research team enables us to deliver great cyber protection to our customers. Let me highlight some of the significant features we delivered in Q1.

    ZIA 交付了 29 個敏捷版本,ZPA 交付了 44 個敏捷版本。每個產品支柱都提供了許多新功能和增強功能。我們的威脅實驗室安全研究團隊發現並向我們的全球雲交付了超過 495,000 個新的高級威脅指標和簽名。此外,我們前沿的安全研究科學家發現並報告了 18 個新的零日漏洞。這些證明了我們研究團隊的成熟度和規模。一個偉大的平台與一個偉大的研究團隊相結合,使我們能夠為我們的客戶提供強大的網絡保護。讓我強調一下我們在第一季度提供的一些重要功能。

  • We enhanced our out-of-band CASB to support additional SaaS applications. We see more customers buying our CASB along with ZIA and replacing their existing CASB point product. We added optical character recognition technology to our DLP offering, addressing data loss problem for images in files like PDFs. This feature, combined with previously released Exact Data Match and Index Data Match technology, makes us the leading data protection platform. We integrated our recently acquired Smokescreen Active Defense technology with ZPA, making it easier for customers to deploy and manage it from a single console. The pace of innovation for our newer pillars like ZDX and ZCP is accelerating.

    我們增強了帶外 CASB 以支持其他 SaaS 應用程序。我們看到越來越多的客戶與 ZIA 一起購買我們的 CASB 並替換他們現有的 CASB 單點產品。我們在 DLP 產品中添加了光學字符識別技術,解決了 PDF 等文件中圖像的數據丟失問題。此功能與之前發布的精確數據匹配和索引數據匹配技術相結合,使我們成為領先的數據保護平台。我們將我們最近收購的 Smokescreen 主動防禦技術與 ZPA 集成在一起,使客戶可以更輕鬆地從單個控制台部署和管理它。 ZDX 和 ZCP 等新支柱的創新步伐正在加快。

  • For example, one of the most demanded ZDX features is real-time performance monitoring for Zoom and Microsoft Teams, which we delivered by working closely with Zoom and Microsoft through API integration. We added over 150 features to ZDX in the past 12 months, delighting our customers.

    例如,最需要的 ZDX 功能之一是對 Zoom 和 Microsoft Teams 的實時性能監控,我們通過 API 集成與 Zoom 和 Microsoft 密切合作來提供這些功能。在過去的 12 個月中,我們為 ZDX 添加了 150 多項功能,令我們的客戶滿意。

  • One customer said, and I quote, "We now have unprecedented visibility into the environment. We can respond faster and forecast where we may have issues and address those areas before they become a problem."

    一位客戶說,我引用說:“我們現在對環境有了前所未有的可見性。我們可以更快地做出響應,預測我們可能遇到的問題,並在這些區域成為問題之前解決這些問題。”

  • I want to highlight another increasingly important area: helping our customers achieve their ESG goals. Our highly efficient cloud replaces hundreds of thousands of on-prem appliances and eliminates the need to buy more in the future, resulting in the significant decrease in the energy, resources and carbon emissions associated with building, transporting, powering and cooling them. As you may have seen from a recent press release, our cloud platform now uses 100% renewable energy.

    我想強調另一個日益重要的領域:幫助我們的客戶實現他們的 ESG 目標。我們的高效雲取代了數十萬臺本地設備,無需在未來購買更多設備,從而顯著減少與建築、運輸、供電和冷卻相關的能源、資源和碳排放。正如您可能從最近的新聞稿中看到的那樣,我們的雲平台現在使用 100% 可再生能源。

  • As part of this effort, we have a cross-functional team with oversight from the Board to drive our sustainability strategy. Zscaler has never been stronger, and I believe we have an incredible opportunity in front of us. We have our sight set on the next milestone: growing our ARR to $5 billion. I believe the key to sustained growth in our next stage is to accelerate the broader adoption of our platform, our Zero Trust Exchange platform, with 4 major pillars provides a comprehensive foundation for securing and improving application access in the world of cloud and mobility.

    作為這項工作的一部分,我們有一個由董事會監督的跨職能團隊來推動我們的可持續發展戰略。 Zscaler 從未如此強大,我相信我們面前有一個難以置信的機會。我們著眼於下一個里程碑:將我們的 ARR 提高到 50 億美元。我相信我們下一階段持續增長的關鍵是加速更廣泛地採用我們的平台,我們的零信任交換平台,它具有 4 個主要支柱,為保護和改善雲和移動世界中的應用程序訪問提供了全面的基礎。

  • With ZIA and ZPA, we have proven our success implementing zero trust for users. Our next immediate opportunity is to bring zero trust to workloads powered by the same core ZIA and ZPA technology. As we shared in our deal highlights, we are seeing solid traction with ZDX and ZCP, the newest growth vectors for the company. We are seeing increasing average revenue per customer, and we estimate a 6x growth opportunity on upsell with our current customers. From presales to deployment and customer success, we have a sophisticated sales machine to sell value and deliver measurable outcomes at the CXO level.

    通過 ZIA 和 ZPA,我們證明了我們為用戶實現零信任的成功。我們的下一個直接機會是為由相同核心 ZIA 和 ZPA 技術提供支持的工作負載帶來零信任。正如我們在交易亮點中分享的那樣,我們看到了 ZDX 和 ZCP 的強勁牽引力,這是公司最新的增長載體。我們看到每位客戶的平均收入不斷增加,我們估計現有客戶的追加銷售機會將增長 6 倍。從售前到部署和客戶成功,我們擁有精密的銷售機器來銷售價值並在 CXO 級別交付可衡量的成果。

  • Over the next several years, our innovation engine will further build out the breadth and depth of our platform, extending our already substantial technology lead. We are also pursuing some very exciting opportunities to extend zero trust to operational technology, or OT, systems with manufacturing leaders like Siemens.

    在接下來的幾年裡,我們的創新引擎將進一步擴大我們平台的廣度和深度,擴大我們已經相當大的技術領先地位。我們還在尋求一些非常令人興奮的機會,將零信任擴展到與西門子等製造領導者的運營技術或 OT 系統。

  • In summary, we are very excited about our future, and we believe we are still in the early innings of a significant market opportunity to accelerate secure digital transformation. Now I'd like to turn over the call to Remo for our financial results.

    總之,我們對自己的未來感到非常興奮,我們相信我們仍處於加速安全數字化轉型的重要市場機會的早期階段。現在,我想將電話轉給 Remo,以了解我們的財務業績。

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Thank you, Jay. As Jay mentioned, we are pleased with the results for the first quarter of fiscal 2022. Revenue for the quarter was $231 million, up 17% sequentially and 62% year-over-year. On a year-over-year basis, revenue growth accelerated in the quarter driven by strong business activity. ZPA product revenue was 16% of total revenue.

    謝謝你,傑。正如傑伊所說,我們對 2022 財年第一季度的業績感到滿意。該季度的收入為 2.31 億美元,環比增長 17%,同比增長 62%。在強勁的業務活動的推動下,本季度收入同比增長加快。 ZPA 產品收入佔總收入的 16%。

  • From a geographic perspective, we had broad strength across our 3 major regions. Americas represented 51% of revenue, EMEA was 35% and APJ was 14%. Our investments in APJ are bearing fruit with greater than 100% revenue growth in that region. Our total calculated billings grew 71% year-over-year to $248 million with billings duration at the high end of our 10- to 14-month range. We had several customers choosing to pay upfront for their multiyear contracts. As a reminder, our contract terms are typically 1 to 3 years, and we do not offer any special incentives for upfront payments.

    從地理角度來看,我們在 3 個主要地區擁有廣泛的實力。美洲佔收入的 51%,EMEA 為 35%,APJ 為 14%。我們在亞太及日本地區的投資正在取得成果,該地區的收入增長超過 100%。我們的總計算賬單同比增長 71% 至 2.48 億美元,賬單持續時間處於我們 10 至 14 個月範圍的高端。我們有幾個客戶選擇為他們的多年合同預付費用。提醒一下,我們的合同條款通常為 1 到 3 年,我們不提供任何預付款的特殊獎勵。

  • We're also pleased to report 68% year-over-year growth in short-term billings. I would note that both billings and revenue benefited from a $1.5 million one-off deal in the quarter. Remaining performance obligations, or RPO, were $1.71 billion as of October 31, up 97% from 1 year ago. The current RPO is 50% of the total RPO. Our strong customer retention and ability to upsell the broader platform have resulted in a high dollar-based net retention rate, which was above 125% in the quarter and higher than the 128% we reported last quarter. As we have discussed before, this metric will vary quarter-to-quarter and it's not a metric we manage our business towards. We focus on growing our net new business without incentivizing differently between new or upsell. We have a strong base of large and growing enterprise customers, which provides us with significant opportunity to upsell our broader platform.

    我們也很高興地報告短期賬單同比增長 68%。我要指出的是,本季度一筆 150 萬美元的一次性交易使賬單和收入都受益。截至 10 月 31 日,剩餘履約義務 (RPO) 為 17.1 億美元,比一年前增長 97%。當前 RPO 是總 RPO 的 50%。我們強大的客戶保留率和追加銷售更廣泛平台的能力導致了基於美元的高淨保留率,本季度高於 125%,高於我們上季度報告的 128%。正如我們之前所討論的,這個指標會隨著季度的變化而變化,這不是我們管理業務的指標。我們專注於發展我們的淨新業務,而不會在新業務或追加銷售之間採取不同的激勵措施。我們擁有強大的大型和不斷增長的企業客戶基礎,這為我們提供了增加銷售我們更廣泛平台的重要機會。

  • Considering these factors, we believe NRR above 125% is truly outstanding for us. We had 224 customers paying us more than $1 million annually, up 87% from 120% in the prior year. The continued strength in this metric speaks to the strategic role we play in our customers' digital transformation initiatives. We also added over 550 customers paying us more than $100,000 annually, ending the quarter at 1,616 such customers.

    考慮到這些因素,我們認為 125% 以上的 NRR 對我們來說確實非常出色。我們有 224 位客戶每年向我們支付的費用超過 100 萬美元,比上一年的 120% 增長了 87%。該指標的持續優勢說明了我們在客戶的數字化轉型計劃中發揮的戰略作用。我們還增加了 550 多名客戶,每年向我們支付的費用超過 100,000 美元,本季度末有 1,616 名此類客戶。

  • Turning to the rest of our Q1 financial performance. Total gross margin of 80.6% was approximately flat quarter-over-quarter and down 50 basis points year-over-year. Our total operating expenses increased 17% sequentially and 69% year-over-year to $162 million. Operating expenses as a percentage of revenue increased by approximately 3 percentage points from 67% a year ago to 70% in the quarter, primarily due to increased hiring, higher compensation expenses, investments in Smokescreen and Trustdome businesses we acquired in the second half of last year and a partial return of T&E.

    轉向我們第一季度財務業績的其餘部分。總毛利率為 80.6%,環比基本持平,同比下降 50 個基點。我們的總運營費用環比增長 17%,同比增長 69%,達到 1.62 億美元。營業費用佔收入的百分比從一年前的 67% 增長到本季度的 70% 約 3 個百分點,主要是由於招聘增加、薪酬支出增加、對我們在去年下半年收購的 Smokescreen 和 Trustdome 業務的投資年和 T&E 的部分回報。

  • Operating margin was 10% and free cash flow margin was 36%, which benefited from the timing of CapEx spend. We continue to expect CapEx as a percentage of revenue to be high single digits for the full year. We ended the quarter with over $1.58 billion in cash, cash equivalents and short-term investments. Please note that net other income includes an $800,000 loss primarily related to the change in value of our assets denominated in euro and British pound as the U.S. dollar strengthened. To minimize such impact going forward, we recently implemented a hedging program for our balance sheet. As a reminder, we primarily transact sales globally in U.S. dollars. And several quarters ago, we put in place a hedging program for international operating expenses. For income taxes, our tax expenses primarily represent international taxes paid to foreign jurisdictions we do business in.

    營業利潤率為 10%,自由現金流利潤率為 36%,這得益於資本支出支出的時機。我們繼續預計全年資本支出佔收入的百分比將達到高個位數。我們在本季度末擁有超過 15.8 億美元的現金、現金等價物和短期投資。請注意,其他淨收入包括 800,000 美元的損失,這主要與我們以歐元和英鎊計價的資產價值隨著美元走強而發生變化有關。為了盡量減少這種影響,我們最近為我們的資產負債表實施了一項對沖計劃。提醒一下,我們主要以美元進行全球銷售。幾個季度前,我們為國際運營費用制定了套期保值計劃。對於所得稅,我們的稅收支出主要代表向我們開展業務的外國司法管轄區支付的國際稅款。

  • For several APJ countries, there's a withholding tax on sales made to customers in those countries. As our APJ business has grown significantly in recent quarters, the withholding taxes were $1.5 million in Q1.

    對於幾個 APJ 國家/地區,向這些國家/地區的客戶進行的銷售需要繳納預扣稅。由於我們的 APJ 業務在最近幾個季度顯著增長,第一季度的預扣稅為 150 萬美元。

  • Now moving on to guidance and modeling points. As a reminder, these numbers are all non-GAAP, which excludes stock-based compensation expenses and related payroll taxes, amortization of debt discount and amortization of intangible assets. For the second quarter of fiscal 2022, we expect revenue in the range of $240 million to $242 million, reflecting year-over-year growth of 53% to 54%, gross margins of 79%. I would like to remind investors that a number of our emerging products including ZDX, Workload Segmentation and CSPM, will initially have lower gross margins than our core products because we're more focused on time to market and growth rather than optimizing for gross margins. Operating profit in the range of $20 million to $21 million; net loss and other income of $100,000; income taxes of $4 million; earnings per share of approximately $0.11, assuming 150 million fully diluted shares.

    現在轉到指導和建模點。提醒一下,這些數字都是非公認會計原則,不包括基於股票的薪酬費用和相關的工資稅、債務貼現的攤銷和無形資產的攤銷。對於 2022 財年第二季度,我們預計收入在 2.4 億美元至 2.42 億美元之間,同比增長 53% 至 54%,毛利率為 79%。我想提醒投資者,我們的一些新興產品,包括 ZDX、Workload Segmentation 和 CSPM,最初的毛利率將低於我們的核心產品,因為我們更關注上市時間和增長,而不是優化毛利率。營業利潤在 2000 萬美元到 2100 萬美元之間; 100,000 美元的淨損失和其他收入; 400萬美元的所得稅;假設有 1.5 億股完全稀釋的股票,每股收益約為 0.11 美元。

  • For the full year fiscal 2022, we are increasing our revenue to a range of $1 billion to $1.01 billion or year-over-year growth of 49% to 50%, increasing calculated billings to a range of $1.3 billion to $1.305 billion or year-over-year growth of 39% to 40%. We now expect our first half mix to be approximately 43% to 44% of our full year billings, increasing our operating profit to a range of $90 million to $93 million based on the return of in-person conferences and events, we expect operating margin to decline sequentially in Q3 before improving in Q4; updating earnings per share to a range of $0.50 to $0.52, assuming approximately 150 million to 151 million fully diluted shares.

    對於 2022 財年全年,我們的收入將增加至 10 億美元至 10.1 億美元,或同比增長 49% 至 50%,將計算的賬單增加至 13 億美元至 13.05 億美元或年-同比增長 39% 至 40%。我們現在預計我們的上半年組合將佔全年賬單的 43% 至 44%,根據面對面會議和活動的回報,我們的營業利潤將增加到 9000 萬至 9300 萬美元,我們預計營業利潤率在第三季度環比下降,然後在第四季度有所改善;假設大約 1.5 億至 1.51 億股完全稀釋的股份,將每股收益更新至 0.50 至 0.52 美元的範圍。

  • Please note that our share count guidance now includes dilution from our convertible debentures.

    請注意,我們的股數指導現在包括可轉換債券的稀釋。

  • With a large market opportunity and customers increasingly adopting the broader platform, we are committed to investing aggressively in our company. We will balance growth and profitability based on how our business is growing, but we'll continue to prioritize growth, which we believe is in the best interest of our shareholders, employees and customers.

    隨著巨大的市場機會和客戶越來越多地採用更廣泛的平台,我們致力於積極投資於我們的公司。我們將根據我們的業務增長方式平衡增長和盈利能力,但我們將繼續優先考慮增長,我們認為這符合我們股東、員工和客戶的最大利益。

  • Operator, you may now open the call for questions.

    接線員,您現在可以打開問題電話了。

  • Operator

    Operator

  • (Operator Instructions) And our first question comes from Matt Hedberg from RBC Capital Markets.

    (操作員說明)我們的第一個問題來自 RBC Capital Markets 的 Matt Hedberg。

  • Matthew George Hedberg - Analyst

    Matthew George Hedberg - Analyst

  • Congrats on a really strong quarter. Jay, I want to start with you. You've had a lot of success here recently, and you talked on the call about the path from $1 billion in ARR to $5 billion in ARR. You talked about some of the building blocks, but I wonder if you could put a finer point on how you get there. And do you have -- currently have the products in place to get to that very large goal?

    祝賀一個非常強勁的季度。傑,我想從你開始。你最近在這裡取得了很大的成功,你在電話會議上談到了從 10 億美元的 ARR 到 50 億美元的 ARR 的路徑。你談到了一些構建塊,但我想知道你是否可以更詳細地說明你是如何到達那裡的。你有沒有——目前有產品來實現這個非常大的目標?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • The short answer is yes, and let me expand upon it. If you look at our current main products, ZIA, ZPA, which have been our flagship products, there's a fair amount of upsell opportunity to our current base. We are going to share that, with upsell, we could actually take on ARR 6x. Of course, we won't just wait for upsell. We are focused on adding new customers as well.

    簡短的回答是肯定的,讓我進一步擴展。如果您查看我們目前的主要產品 ZIA、ZPA,它們是我們的旗艦產品,我們目前的基礎有相當多的追加銷售機會。我們將分享這一點,通過追加銷售,我們實際上可以實現 ARR 6 倍。當然,我們不會只是等待追加銷售。我們也專注於增加新客戶。

  • We have decent penetration on the high end: Fortune 500 companies, 35%; Global 2000, about 25%. That means there's a big market still for us to deploy. And these, especially high-end customers, look for a proxy-based architecture and zero trust architecture.

    我們在高端市場的滲透率不錯:財富 500 強公司,35%;全球 2000 年,約 25%。這意味著我們仍有很大的市場可以部署。而這些,尤其是高端客戶,尋找基於代理的架構和零信任架構。

  • And then on top of that are our 2 other solutions, zero trust for workloads that has been just coming out early stage; and we are also moving into zero trust for IoT and OT, leveraging the core technologies we have in place. And then on top of that is a newly emerging markets for workload security posture, entitlement, permissions, and the like. And we did a couple of small acquisitions in that area. We're building upon it and growing it.

    最重要的是我們的其他 2 個解決方案,對剛剛出現的工作負載的零信任;我們也正在利用我們現有的核心技術,對 IoT 和 OT 實現零信任。最重要的是工作負載安全態勢、權利、權限等方面的新興市場。我們在該領域進行了幾次小型收購。我們正在建立並發展它。

  • So I do see security market rapidly changing. We believe all segments that we know today will no longer be there. They'll disappear over time. And we have a lead -- significant lead over others to keep on building more. So I feel pretty comfortable and confident to be able to get to our $5 billion ARR target and beyond.

    所以我確實看到安全市場正在迅速變化。我們相信我們今天所知道的所有細分市場都將不再存在。它們會隨著時間的推移而消失。而且我們有領先優勢 - 領先於其他人繼續建設更多。所以我對能夠達到我們 50 億美元及以上的 ARR 目標感到非常自在和自信。

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Yes. Just to add just a little bit -- yes, just to add a little bit there. Our SAM is $72 billion. And as we talked about in our Analyst Day, it does not include other areas which we are making investments, so in areas such as 5G or OT, IoT, B2B, B2C. So it's -- and what's interesting is that this market has really changed over the years from what it was even 10 years ago and certainly, 20 years ago, where a lot of legacy, basically, technology exists still today. There's a huge market opportunity.

    是的。只是添加一點- 是的,只是添加一點。我們的 SAM 價值 720 億美元。正如我們在分析師日中談到的那樣,它不包括我們正在投資的其他領域,因此在 5G 或 OT、物聯網、B2B、B2C 等領域。所以它 - 有趣的是,這個市場多年來確實發生了變化,甚至從 10 年前,當然,20 年前,很多遺產,基本上,技術今天仍然存在。有巨大的市場機會。

  • And one of the things we've done within the company and we've talked about is that we're going to prioritize growth over operating profitability. And one of the areas that we're making significant investment is in our go-to-market. So we've made significant investments in the past. We'll continue to make significant investments.

    我們在公司內部做過的一件事,我們已經談到過,我們將把增長放在運營盈利之上。我們正在進行重大投資的領域之一是我們的上市。因此,我們過去進行了大量投資。我們將繼續進行重大投資。

  • And in that go-to-market, it's really 3-pronged: you've got sales, you've got marketing, you've got channel. Sales organization, we've been making significant investments in the last few years. You can see the fruits of what our sales organization has done. We've hired recently about a year ago or a little less than a year ago, a CMO, and he's doing absolutely outstanding. And we are making significant investment in channel.

    在那個進入市場的過程中,它真的是三管齊下的:你有銷售,你有營銷,你有渠道。銷售組織,我們在過去幾年中一直在進行重大投資。您可以看到我們銷售組織所做的工作的成果。我們最近在大約一年前或不到一年前聘請了一位 CMO,他的表現絕對出色。我們正在對渠道進行大量投資。

  • With that also, as we talked about trying to get to or getting to a much larger company, we are going to be making investments throughout the company to build the foundation and the strength and efficiencies. So we're in a unique position and really created, in my opinion, a revolutionary technology with the platform that's created 12 years ago that addresses this market pretty much head on.

    同樣,當我們談到試圖進入或進入一家更大的公司時,我們將在整個公司進行投資,以建立基礎、實力和效率。因此,我們處於一個獨特的位置,並且在我看來,真正創造了一項革命性的技術,該平台是 12 年前創建的,幾乎可以直接解決這個市場。

  • Matthew George Hedberg - Analyst

    Matthew George Hedberg - Analyst

  • And that's actually a dovetail into the second question. I mean it looks like you guys had a lot of hiring this quarter. Obviously, Q1, I can imagine you want to front-end load some of your hiring. Can you talk about the rep capacity coming out of Q1? And do you -- how do you kind of think about ads throughout the balance of the fiscal year?

    這實際上與第二個問題相吻合。我的意思是,看起來你們這個季度招聘了很多人。顯然,第一季度,我可以想像你想要前端加載一些招聘。你能談談第一季度的代表能力嗎?你——你如何看待整個財年餘下的廣告?

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • We're going to continue to add aggressively throughout the year. Our net adds that we had in Q1 was over 450 employees. About half of those ads were in sales and marketing.

    我們將在全年繼續積極增加。我們在第一季度淨增加了 450 多名員工。這些廣告中約有一半是在銷售和營銷方面。

  • From a field quota sales rep perspective, the comment that we made before was that we've hired more field sales reps this year in fiscal '22 versus fiscal '21. We're certainly on pace to do that. And also in Q1, we had a new record quarter for RSM, our field quota sales rep ads. We see Zscaler's a destination.

    從現場配額銷售代表的角度來看,我們之前發表的評論是,與 21 財年相比,我們今年在 22 財年僱傭了更多的現場銷售代表。我們當然正在努力做到這一點。同樣在第一季度,我們的現場配額銷售代表廣告 RSM 創下了新的季度記錄。我們看到 Zscaler 是一個目的地。

  • And so related to your question, how we're going to do going forward, like I said before, we are going to prioritize growth and we're going to hire aggressively, and we're going to try to really go after this market.

    與你的問題有關,我們將如何前進,就像我之前說的那樣,我們將優先考慮增長,我們將積極招聘,我們將嘗試真正進入這個市場.

  • Matthew George Hedberg - Analyst

    Matthew George Hedberg - Analyst

  • Congrats, guys.

    恭喜,伙計們。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Thank you.

    謝謝你。

  • Operator

    Operator

  • (Operator Instructions) And our next question comes from Gray Powell from BTIG.

    (操作員說明)我們的下一個問題來自 BTIG 的 Gray Powell。

  • Gray Wilson Powell - MD & Security and Analytics Software Analyst

    Gray Wilson Powell - MD & Security and Analytics Software Analyst

  • Congratulations on the strong results. So I know you hit like kind of high-level drivers. I'd just be curious on the product level, what surprised you most to the upside this quarter? Was it more on the core ZIA and ZPA side? Or was it more on the emerging product side of the portfolio?

    祝賀你取得了不錯的成績。所以我知道你打得像高級車手。我只是對產品級別感到好奇,本季度最讓您感到驚訝的是什麼?是在核心 ZIA 和 ZPA 方面更多嗎?還是更多地出現在產品組合的新興產品方面?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • All products actually did well. I mean this was a stellar quarter, whether you look at the product side or you look at the geo side or you look at the market segment side. There are a couple of deals we highlighted in my earnings call. Actually, the big ZIA deals are actually still coming up very strong. Sometimes, people think that ZIA kind of started early. It may be kind of slowing down. But we aren't seeing slowdown in ZIA. ZPA is ramping pretty rapidly, growing pretty fast. And ZDX actually is probably the most sought-after product in the market, especially with Zoom and Teams kind of issues that are almost impossible to decipher and figure out. The big integration we did at a very rapid pace in the past few months, and we announced that publicly a couple of weeks ago. We have with the help of Microsoft and Zoom, both, we did API-based integration.

    所有產品實際上都做得很好。我的意思是這是一個出色的季度,無論您是查看產品方面,還是查看地理方面,還是查看細分市場方面。我們在財報電話會議中強調了幾筆交易。實際上,ZIA 的大型交易實際上仍然非常強勁。有時,人們認為 ZIA 有點早。它可能有點慢。但我們並沒有看到 ZIA 的放緩。 ZPA 發展非常迅速,增長非常快。 ZDX 實際上可能是市場上最受歡迎的產品,尤其是 Zoom 和 Teams 這類問題幾乎無法破譯和弄清楚。在過去的幾個月裡,我們以非常快的速度進行了大規模整合,幾週前我們公開宣布了這一點。我們在 Microsoft 和 Zoom 的幫助下,都進行了基於 API 的集成。

  • So across the board, I think it's wonderful, hard to kind of pinpoint one product area.

    所以總的來說,我認為很難確定一個產品領域。

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Yes. From a geographic perspective, what I'd like to do is call out APJ. They did absolutely outstanding. And what we've talked about before also, it's one of the areas that we're going to invest more in is in APJ, in particular, Japan. And so if you look at our performance, APJ was very, very strong for us. But as Jay mentioned, across the board, it was an outstanding quarter.

    是的。從地理角度來看,我想做的是召集 APJ。他們做得絕對出色。而且我們之前也談到過,我們將在 APJ,特別是日本進行更多投資的領域之一。所以如果你看看我們的表現,APJ 對我們來說非常非常強大。但正如傑伊所說,總體而言,這是一個出色的季度。

  • Operator

    Operator

  • And our next question comes from Alex Henderson from Needham.

    我們的下一個問題來自 Needham 的 Alex Henderson。

  • Alexander Henderson - Senior Analyst

    Alexander Henderson - Senior Analyst

  • Outstanding quarter. I didn't catch a growth rate or a percentage of revenues coming from ZDX or ZCP. If you have one of those, that would be great. My question is predominantly on the commentary about your conversations with the CIO, CTO, CISOs. Clearly, the move to cloud direct for users is taking root aggressively. But at the other side of that coin, it seems pretty clear that applications are simply going to become points in the cloud. And under that scenario, you're the connectivity between both the user to the application and the application to the other applications domain to domain. But in that world, I don't see any reason for there to be an enterprise network.

    傑出的季度。我沒有看到來自 ZDX 或 ZCP 的增長率或收入百分比。如果你有其中之一,那就太好了。我的問題主要是關於你與 CIO、CTO、CISO 對話的評論。顯然,向用戶直接遷移到雲的做法正在積極地紮根。但在硬幣的另一面,應用程序將成為雲中的點似乎很明顯。在這種情況下,您是用戶到應用程序和應用程序到其他應用程序域到域之間的連接。但在那個世界裡,我認為沒有任何理由存在企業網絡。

  • And so I guess my question is, have you had conversations with people in the enterprise to actually start talking about decommissioning the enterprise network, where the branch home office and data centers simply become islands in the cloud the same way AWS is? Can you talk to whether that vision is penetrating into top management?

    所以我想我的問題是,您是否與企業中的人進行過對話,以真正開始談論停用企業網絡,分支總部和數據中心就像 AWS 一樣簡單地成為雲中的孤島?你能談談這個願景是否正在滲透到高層管理中嗎?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Yes. It is actually happening. It's real. I mean I can tell you because I've talked to so many customers. I have many customers who don't have any data center. I have many customers who don't have any private network, so to speak. It's all broadband connections coming from their headquarters that ran to us and the like.

    是的。它實際上正在發生。它是真實的。我的意思是我可以告訴你,因為我已經和很多客戶談過了。我有很多沒有任何數據中心的客戶。可以這麼說,我有很多沒有任何專用網絡的客戶。都是從他們總部傳來的寬帶連接到我們這裡。

  • Now I would say that most of that has seen in pretty decent-sized enterprises, ranging from about 5,000 to probably 10,000 or 15,000 users. I haven't gone there yet where you're looking at 20,000-, 30,000-person company decommissioning everything. But that's happened. We are seeing clearly the trend moving in that direction.

    現在我想說的是,其中大部分已經在相當規模的企業中看到,從大約 5,000 到可能 10,000 或 15,000 個用戶。我還沒有去過那裡,你會看到 20,000 到 30,000 人的公司讓所有東西退役。但那已經發生了。我們清楚地看到了朝著這個方向發展的趨勢。

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • And your other question, Alex, related to the breakout of ZDX and ZCP, we did not give that. What we talked about on the last call is that ZDX and ZCP as a percent of our total new and upsell business for the year would be low teens. We still expect that.

    你的另一個問題,亞歷克斯,與 ZDX 和 ZCP 的突破有關,我們沒有給出。我們在上次電話會議上談到的是,ZDX 和 ZCP 在我們今年的新業務和追加銷售業務中所佔的百分比將處於低位。我們仍然期待這一點。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Yes. If I may add one more comment, since you talked about network free enterprise, so to speak, not before that we talked about data center free enterprise. I had a customer advisory board meeting today, the 9 CIOs of large enterprises was meeting with us. And one of them said, I have no data center. I have no private network. Now I want to get to a level where I am firewall-free as well, okay? So you see more and more of that. In the world of cloud, there's no room for any firewall. In the data center, they will be there for a while. And it's okay because there's more effort needed to displace them than phasing out the data center and its applications.

    是的。如果我可以再補充一點,既然你談到了網絡自由企業,可以這麼說,在此之前我們沒有談到數據中心自由企業。我今天開了一個客戶顧問委員會會議,9位大企業的CIO正在和我們開會。其中一位說,我沒有數據中心。我沒有專用網絡。現在我想達到一個沒有防火牆的水平,好嗎?所以你看到的越來越多。在雲的世界中,沒有任何防火牆的空間。在數據中心,他們會在那裡待一段時間。這沒關係,因為取代它們需要更多的努力,而不是逐步淘汰數據中心及其應用程序。

  • Operator

    Operator

  • And our next question comes from Patrick Colville from Deutsche Bank.

    我們的下一個問題來自德意志銀行的 Patrick Colville。

  • Patrick Edwin Ronald Colville - Research Analyst

    Patrick Edwin Ronald Colville - Research Analyst

  • I think it would be correct to echo everyone's congratulations on a, undoubtedly, very stellar quarter. Can I just ask about the headcount adds? I think that was really intriguing commentary, and I guess we'd like to better understand that. So you mentioned 450 net adds in fiscal first quarter. Just can you just help us think about the kind of trajectory through the rest of the year? I mean -- and kind of what you've got baked in the guidance? I mean, should we expect that kind of number again in 2Q, 3Q, 4Q? Or would the kind of glide path be slightly different?

    我認為,毫無疑問,在一個非常出色的季度回應大家的祝賀是正確的。我可以問一下增加的人數嗎?我認為那是非常有趣的評論,我想我們希望更好地理解這一點。所以你提到第一財季淨增加了 450 人。你能不能幫我們想想今年剩下的時間裡的那種軌跡?我的意思是——你在指導中得到了什麼?我的意思是,我們是否應該在第二季度、第三季度、第四季度再次期待這樣的數字?或者滑行路徑會略有不同?

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Yes. It's a great question. It depends on our performance, quite frankly. If we continue to perform at the levels that we are, as we've talked about, we see this as a huge market opportunity. We're going to invest in this market. And really the major investments that we have are people, getting outstanding employees to work for Zscaler.

    是的。這是一個很好的問題。坦率地說,這取決於我們的表現。如果我們繼續按照我們所說的水平表現,我們認為這是一個巨大的市場機會。我們將投資這個市場。我們真正的主要投資是人才,讓優秀的員工為 Zscaler 工作。

  • So it was a good quarter for us. I mean net adds, as I mentioned, 450. I don't want to give a projection of what we're going to add for the year. But really, the takeaway is if we continue to grow as we are growing, we will continue adding at pace.

    所以這對我們來說是一個很好的季度。正如我所提到的,我的意思是淨增加了 450。我不想預測我們今年要增加的內容。但實際上,要點是,如果我們在增長的同時繼續增長,我們將繼續保持增長。

  • Operator

    Operator

  • And our next question comes from Sterling Auty from JPMorgan.

    我們的下一個問題來自摩根大通的 Sterling Auty。

  • Sterling Auty - Senior Analyst

    Sterling Auty - Senior Analyst

  • So along the lines of the last question, help us understand the trends in customer acquisition costs. So when you look at the net new logos that you added in the quarter, are you actually seeing the cost to acquire those customers going down, going up or staying about the same as what you've seen over the last, let's say, 3 or 4 quarters?

    因此,按照最後一個問題的思路,幫助我們了解客戶獲取成本的趨勢。因此,當您查看您在本季度添加的淨新徽標時,您是否真的看到獲取這些客戶的成本下降、上升或保持與上一季度看到的大致相同,比如說 3還是4個季度?

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • That's a great question. Based on our performance that we have and based on our operating profitability, I would say customer acquisition costs are staying relatively the same because we are putting a lot of investment into marketing as well as our sales organization.

    這是一個很好的問題。根據我們的表現和我們的運營盈利能力,我想說客戶獲取成本保持相對不變,因為我們在營銷和銷售組織上投入了大量資金。

  • On a short-term basis, as we've -- as I've talked about, but again, the contribution margin that we have in years 2, 3 is above 60%. So we're still in that position that we are trying to acquire or bring on board new customers and we're making that investment. As we go forward and as the company matures, that should come down. But right now, that's not our focus. Our focus is to build our top line growth.

    就短期而言,正如我所談到的那樣,我們在第 2 年、第 3 年的邊際貢獻率超過 60%。因此,我們仍處於試圖獲取或吸引新客戶的位置,並且我們正在進行這項投資。隨著我們的前進和公司的成熟,這應該會下降。但現在,這不是我們的重點。我們的重點是建立我們的收入增長。

  • Operator

    Operator

  • And our next question comes from Jonathan Ruykhaver from Baird.

    我們的下一個問題來自 Baird 的 Jonathan Ruykhaver。

  • Jonathan Blake Ruykhaver - Senior Research Analyst

    Jonathan Blake Ruykhaver - Senior Research Analyst

  • Congrats, guys. Really impressive. So Jay, I think you've commented in the past that Workload Segmentation is something that you can really only see the most advanced companies talking about. So obviously, very early stage. But you seem to highlight is going where -- of that capability in terms of zero trust and applying its applications in machines. So I'm just kind of curious how you see that broader adoption this year. Anything to call out in terms of what you see relative to what you were thinking about that maybe 6 months ago?

    恭喜,伙計們。真是令人印象深刻。所以 Jay,我認為您過去曾評論說,工作負載分段是您真正只能看到最先進的公司在談論的東西。很明顯,非常早期的階段。但是您似乎強調的是零信任和在機器中應用其應用程序方面的能力。所以我只是有點好奇你如何看待今年更廣泛的採用。就你所看到的相對於你可能在 6 個月前的想法而言,有什麼要說的嗎?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Yes. I mean your question seems to imply microsegmentation, advanced segmentation, which is actually only done by advanced companies. I look at segmentation in 3 buckets. First of all, zero to application -- sorry, user-to-app segmentation. ZPA was designed to naturally do that. So more and more of Zscaler customers are doing it because user is the weakest link. That's one.

    是的。我的意思是你的問題似乎暗示了微細分,高級細分,實際上只有先進的公司才能做到。我在 3 個桶中查看細分。首先,從零到應用程序——抱歉,用戶到應用程序的細分。 ZPA 旨在自然地做到這一點。所以越來越多的 Zscaler 客戶正在這樣做,因為用戶是最薄弱的環節。那是一個。

  • Two, actually workload-to-workload segmentation at the workload level or VPC to VPC level, VPC, say, in AWS East to AWS West, we actually do that with our zero trust for workloads, which is powered by ZPA.

    第二,實際上是工作負載級別或 VPC 到 VPC 級別的工作負載到工作負載分段,例如,在 AWS 東到 AWS 西的 VPC,我們實際上是通過 ZPA 支持的對工作負載的零信任來做到這一點的。

  • And then the third, the most advanced one you started out with, is being able to do microsegmentation. And that's really done only by more sophisticated companies. But we are really driving all 3 levels of segmentation, which is wonderful for our customers and good for our business. Did I answer your question?

    然後第三個,你開始使用的最先進的,是能夠進行微分段。而這實際上只有更成熟的公司才能做到。但我們確實在推動所有 3 個級別的細分,這對我們的客戶來說非常好,對我們的業務也有好處。我回答你的問題了嗎?

  • Jonathan Blake Ruykhaver - Senior Research Analyst

    Jonathan Blake Ruykhaver - Senior Research Analyst

  • Well, have you seen any change in that use case, just the adoption of that use case? Or is it pretty steady state?

    那麼,您是否看到該用例的任何變化,只是採用該用例?還是相當穩定的狀態?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • The advanced microsegment -- sorry, the microsegmentation, I think, is growing at a decent rate. But where the customer had no option literally was user-to-app segmentation and our app-to-app or VPC-to-VPC, those are the 2 new areas of pushing and seeing a lot of great interest. Literally coming from having no options, to Zscaler, you can do it so well, so easily. So we will see much faster growth in that segment.

    高級微分段——抱歉,我認為微分段正在以不錯的速度增長。但是,客戶實際上別無選擇的是用戶到應用細分以及我們的應用到應用或 VPC 到 VPC,這兩個新領域正在推動並引起極大興趣。從字面上看,從沒有選擇到 Zscaler,你可以做得很好,很容易。因此,我們將看到該領域的增長更快。

  • Operator

    Operator

  • And our next question comes from Saket Kalia from Barclays.

    我們的下一個問題來自巴克萊的 Saket Kalia。

  • Saket Kalia - Senior Analyst

    Saket Kalia - Senior Analyst

  • Jay, maybe for you. With just the success of multiple new emerging products, can you just talk about any thoughts you have on new bundling strategies and how those could look? I mean the bundles that you've done with ZIA and ZPA have been so successful in the past. How does that bundling strategy change, if at all, as ZDX and ZCP become bigger parts of the business? Does that make sense?

    傑,也許適合你。鑑於多個新興產品的成功,您能否談談您對新捆綁策略的任何想法以及這些想法的外觀?我的意思是你用 ZIA 和 ZPA 完成的捆綁包過去非常成功。隨著 ZDX 和 ZCP 成為業務的更大組成部分,這種捆綁策略將如何改變(如果有的話)?那有意義嗎?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • It does. So overall, as you know, we have a deep and broad platform. And we also see CIO, CISOs looking for consolidation. They want solution rather than have to buy many products and put them together. And also, things like ZIA, ZPA, ZDX with a single agent, literally, all 3 products can get turned on pretty easily. So you will see more and more bundling over time.

    確實如此。總體而言,如您所知,我們擁有一個深入而廣泛的平台。我們還看到 CIO、CISO 正在尋求整合。他們想要解決方案,而不是購買許多產品並將它們放在一起。而且,像 ZIA、ZPA、ZDX 這樣的單一代理,從字面上看,所有 3 種產品都可以很容易地啟動。因此,隨著時間的推移,您會看到越來越多的捆綁。

  • You're seeing ZIA. In fact, first of all, you see bundling for an -- in ZIA family on business bundle to Transformation Bundle then you saw a ZIA and ZPA coming together. Then you'll see ZIA, ZPN, ZDX coming together. The trend will continue. I think based on different products, probably the timing may be different based on what we learned from the customers.

    你看到的是 ZIA。事實上,首先,您會看到在 ZIA 家族中將業務捆綁包捆綁到轉換捆綁包,然後您會看到 ZIA 和 ZPA 結合在一起。然後你會看到 ZIA、ZPN、ZDX 走到一起。趨勢將繼續。我認為基於不同的產品,根據我們從客戶那裡了解到的情況,時間可能會有所不同。

  • Operator

    Operator

  • And our next question comes from Hamza Fodderwala from Morgan Stanley.

    我們的下一個問題來自摩根士丹利的 Hamza Fodderwala。

  • Hamza Fodderwala - Equity Analyst

    Hamza Fodderwala - Equity Analyst

  • Jay, a question for you. Just more broadly on security architecture and the market moving more towards SASE and zero trust network access. I would think that in today's environment where there's obviously supply chain constraints on things like on-premise firewalls that you should be seeing more adoption towards your type of platform. But we're still seeing customers buy on-premise firewalls, right? And I think it's a pretty strong demand environment. So I'm wondering when that tipping point occurs or if that tipping point occurs? And maybe if you can give us some color around the pace of adoption towards SASE and zero trust network activity, where we are in that adoption curve?

    傑,問你一個問題。只是更廣泛地涉及安全架構和市場更傾向於 SASE 和零信任網絡訪問。我認為,在當今環境中,本地防火牆等顯然存在供應鏈限制,您應該會看到更多采用您的平台類型。但是我們仍然看到客戶購買本地防火牆,對嗎?我認為這是一個非常強勁的需求環境。所以我想知道什麼時候會出現這個臨界點,或者那個臨界點是否會出現?也許如果你能給我們一些關於 SASE 和零信任網絡活動的採用速度的顏色,我們在採用曲線的哪個位置?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Yes. It's a good question. Your question reminds me of the question I was asked a few times several years ago. Zscaler is growing so well. Why is Blue Coat still growing so well and selling so well, right? You notice in our shelf here, there's a lot of traffic that goes through the data center. And as that traffic grows, whether you've got a proxy appliance sitting there or firewall since it takes the traffic is you really need to upgrade it and grow it over time. And we saw Blue Coat kind of grew and then suddenly fell off a cliff.

    是的。這是個好問題。你的問題讓我想起了幾年前我被問過幾次的問題。 Zscaler 發展得很好。為什麼 Blue Coat 仍然長得這麼好,賣得這麼好,對吧?您會注意到,在我們的貨架上,有很多流量通過數據中心。隨著流量的增長,無論您是否有代理設備或防火牆,因為它需要流量,您確實需要升級它並隨著時間的推移增加它。我們看到 Blue Coat 有點長大,然後突然從懸崖上掉下來。

  • And also, I think it gets very hard to figure out the numbers for actual appliance, the VM, VMware, VMware. It gets very hard to figure out. But I can tell you this, our customers don't want any firewalls in the cloud. Now today, they have some. There's the VMs out there. But as we are talking about new solutions, our customers want a firewall-free cloud world.

    而且,我認為很難計算出實際設備、VM、VMware、VMware 的數字。很難弄清楚。但我可以告訴你,我們的客戶不希望雲中的任何防火牆。現在,他們有一些。那裡有虛擬機。但是當我們談論新的解決方案時,我們的客戶想要一個沒有防火牆的雲世界。

  • Now for the data center, there's lots of complexity. It's kind of being phased out. So we have zero focus in trying to remove any firewalls in the data center. Leave them alone, and they'll become like mainframes over time. Now what is that time? I'm not sure. I can guess into it, but I have 200% conviction that firewall appliances or VMs will go away.

    現在對於數據中心來說,有很多複雜性。有點被淘汰了。因此,我們零關注嘗試移除數據中心中的任何防火牆。別管它們,隨著時間的推移,它們會變得像大型機一樣。現在是什麼時候?我不知道。我可以猜到,但我 200% 確信防火牆設備或虛擬機將會消失。

  • Regarding SASE, I would like to clarify. The SASE has become a buzzword for everyone. Networking guys have highjacked the term because that's so they can attach themselves to SASE. And Gartner had to further clarify it. Gartner said, I can do an MQ for SASE because it is a collection of things. It's like on the kitchen sink. Now they have a new Magic Quadrant coming out, Secure Service Edge, another acronym, SSE. But it is only about security. It is about the functionality of ZIA/ZPA kind of to put together. And for the networking side, there will be a separate stuff.

    關於 SASE,我想澄清一下。 SASE 已成為每個人的流行語。網絡人盜用了這個詞,因為這樣他們就可以將自己附加到 SASE。 Gartner 不得不進一步澄清這一點。 Gartner 說,我可以為 SASE 做一個 MQ,因為它是事物的集合。就像在廚房水槽上一樣。現在他們推出了一個新的魔力像限,即 Secure Service Edge,另一個縮寫詞 SSE。但這只是關於安全性。它是關於 ZIA/ZPA 類的功能放在一起的。對於網絡方面,將有一個單獨的東西。

  • I think there are more customers who want to eliminate the network because it is the network that creates lateral movement and enables ransomware type of attacks. I mean all this stuff is driving on growth. It's helping, but there is a big market out there, there's inertia out there, that's still buying a bunch of these firewall appliances and the like.

    我認為有更多的客戶想要消除網絡,因為它是創建橫向移動並啟用勒索軟件類型攻擊的網絡。我的意思是所有這些東西都在推動增長。這很有幫助,但是那裡有一個很大的市場,那裡有慣性,仍然在購買一堆這些防火牆設備等。

  • Take VPN. We all know that VPN is probably the biggest security hole out there. There's still -- I mean we're replacing lots in that. That's what's fueling ZPA growth, but there's a big market that's still buying VPNs. And we are making progress pretty aggressively. And Gartner and all thinks that in the next about 2.5 years, most of VPNs will be gone. And we think whether a vendor is calling VPN in the cloud by a different name or EVPN, they'll eventually go away, and that's where we will help with zero trust architecture. A long answer, I hope it helped.

    拿VPN。我們都知道 VPN 可能是目前最大的安全漏洞。還有 - 我的意思是我們正在更換很多。這就是推動 ZPA 增長的原因,但仍有一個很大的市場仍在購買 VPN。我們正在非常積極地取得進展。 Gartner 和所有人都認為,在接下來的大約 2.5 年內,大部分 VPN 都會消失。而且我們認為,無論供應商是在雲中使用不同的名稱還是 EVPN 來調用 VPN,它們最終都會消失,這就是我們將在零信任架構方面提供幫助的地方。一個很長的答案,我希望它有所幫助。

  • Hamza Fodderwala - Equity Analyst

    Hamza Fodderwala - Equity Analyst

  • No, it helps.

    不,它有幫助。

  • Operator

    Operator

  • And our next question comes from Brian Essex from Goldman Sachs.

    我們的下一個問題來自高盛的 Brian Essex。

  • Brian Lee Essex - Equity Analyst

    Brian Lee Essex - Equity Analyst

  • Jay, I was wondering if I could maybe just follow up on a few other questions that we've had previously. Considering the investment that you've made in sales reps and sales and marketing over the past few years and particularly you're focused on cross-sell and upsell, I mean I've noticed that the billings are growing over -- looks like they're growing over twice what customer growth is. So maybe if you could put a finer point on how you're investing in particularly your direct sales force to -- or whether you're leveraging your channel to some greater extent to drive yourself towards that 6x growth opportunity from cross-sell/upsell.

    傑伊,我想知道我是否可以跟進我們之前提出的其他一些問題。考慮到您在過去幾年中對銷售代表、銷售和營銷所做的投資,特別是您專注於交叉銷售和追加銷售,我的意思是我注意到賬單正在增長——看起來他們'增長是客戶增長的兩倍多。因此,如果您可以更詳細地說明您如何投資,特別是您的直銷團隊——或者您是否在更大程度上利用您的渠道來推動自己從交叉銷售/追加銷售中獲得 6 倍的增長機會.

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • So first of all, if you look at our growth, we had 85 -- 87% year-over-year growth for our customers with over $1 million in ARR. That's a customer growth number. Now if you look at customers with over $100,000 ARR, that year-over-year growth was about 53%. I think when you look at listed customer numbers, there's some low small customer on the low end and whatnot. Those numbers end up being kind of misleading. So it's good to look at categories. So we are pleased with the growth of customers. Though our bigger focus is just overall ARR growth, our overall bookings growth and the like.

    所以首先,如果你看看我們的增長,我們的客戶的年增長率為 85% - 87%,ARR 超過 100 萬美元。這是一個客戶增長數字。現在,如果您查看 ARR 超過 100,000 美元的客戶,年增長率約為 53%。我認為當您查看列出的客戶數量時,低端有一些低端的小客戶等等。這些數字最終會產生誤導。因此,最好查看類別。因此,我們對客戶的增長感到滿意。雖然我們更大的關注點只是整體 ARR 增長、我們的整體預訂增長等。

  • Now for that, as we look at cross-selling, upselling our new logo, we actually do not do any special incentive for one or the other. We have internally debated it quite a bit. But when you've got so many products who sell on your portfolio, for me to motivate salespeople to go for new business and not focus on upsell won't be right. So we have essentially the same compensation.

    現在,當我們看到交叉銷售、追加銷售我們的新標誌時,我們實際上並沒有為其中一個或另一個做任何特殊的激勵。我們在內部對此進行了相當多的辯論。但是,當你有這麼多產品在你的產品組合中銷售時,對我來說,激勵銷售人員去尋找新業務而不是專注於追加銷售是不對的。所以我們基本上得到了相同的補償。

  • Now channel is beginning to play a more and more role, especially in the enterprise segment. The bigger the deal, the more you have to engage with them, like the Fortune 500. But when you come to 2,000 to 5,000 or even up to 10,000 users, channel is big new add, more and more value. And channel actually is helping us get new logos because that's one of the big values they had. Did I cover the points you asked for?

    現在渠道開始發揮越來越大的作用,尤其是在企業領域。交易越大,您與他們的互動就越多,例如財富 500 強。但是當您達到 2,000 到 5,000 甚至高達 10,000 的用戶時,渠道是一個很大的新增功能,越來越有價值。頻道實際上正在幫助我們獲得新徽標,因為這是他們擁有的重要價值之一。我是否涵蓋了您要求的要點?

  • Brian Lee Essex - Equity Analyst

    Brian Lee Essex - Equity Analyst

  • Yes, you did. That was very helpful. So I appreciate it. And congrats again.

    是的,你做到了。這很有幫助。所以我很感激。並再次祝賀。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Thanks, Brian.

    謝謝,布賴恩。

  • Operator

    Operator

  • And our next question comes from Gregg Moskowitz from Mizuho.

    我們的下一個問題來自瑞穗的 Gregg Moskowitz。

  • Gregg Steven Moskowitz - MD of Americas Research

    Gregg Steven Moskowitz - MD of Americas Research

  • I'll add my congrats on a truly remarkable quarter. Jay, I'm wondering, have you begun to see uptake for ZPA Private Service Edge? And I'm just kind of curious if that's begun perhaps to help you in hybrid enterprise environments such that it might be contributing to the robust overall growth that you're showing.

    我將祝賀一個真正非凡的季度。 Jay,我想知道,您是否開始看到 ZPA Private Service Edge 的採用?我只是有點好奇,這是否開始可能會在混合企業環境中幫助您,從而可能有助於您所展示的強勁的整體增長。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • ZPA...

    ZPA...

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Private Service Edge.

    私人服務邊緣。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Oh, yes, Private -- okay. Good. Yes. ZPA Private Service Edge is getting more and more deployed. But just to let you know, we're not trying to make a lot of money on Private Service Edge per se. Most of the money comes from actually subscription fee of users. But what Private Service does is it allows you to implement zero trust for on-prem on the network users. And since people, when they come back to the office, they need to make sure that users and applications are not on the same network. That's where Private Service Edge comes in. We charge a reasonable amount for it, but the biggest amount comes from making sure every user, whether they're in the office or at home, they actually use ZPA. That's really how we look at its growth, and we are very pleased with it.

    哦,是的,私人——好的。好的。是的。 ZPA Private Service Edge 的部署越來越多。但只是讓您知道,我們並不想在 Private Service Edge 本身上賺很多錢。大部分錢來自用戶的實際訂閱費。但是 Private Service 所做的是它允許您對網絡用戶的本地部署實施零信任。由於人們回到辦公室時,他們需要確保用戶和應用程序不在同一個網絡上。這就是 Private Service Edge 的用武之地。我們為此收取合理的費用,但最大的費用來自確保每個用戶,無論他們是在辦公室還是在家,他們實際上都在使用 ZPA。這就是我們真正看待它的增長的方式,我們對此感到非常滿意。

  • And also the second factor to drive that would be as more and more applications are in public cloud, like Azure and AWS, they all need to go through ZPA for that. That's where I made the statement in the past that I expect it's a matter of time when every user for our customers will have ZIA, ZPA and ZDX. Three together gives them fast, secure and reliable experience.

    第二個推動因素是,隨著越來越多的應用程序位於公共雲中,比如 Azure 和 AWS,它們都需要通過 ZPA。這就是我過去發表聲明的地方,我希望我們客戶的每個用戶都擁有 ZIA、ZPA 和 ZDX 只是時間問題。三者一起為他們提供了快速、安全和可靠的體驗。

  • Gregg Steven Moskowitz - MD of Americas Research

    Gregg Steven Moskowitz - MD of Americas Research

  • All right. That's great. And certainly well suited for hybrid work environment.

    好的。那太棒了。當然也非常適合混合工作環境。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Yes. Thank you.

    是的。謝謝你。

  • Operator

    Operator

  • And our next question comes from Shaul Eyal from Cowen.

    我們的下一個問題來自 Cowen 的 Shaul Eyal。

  • Shaul Eyal - MD of Communications, Security and Infrastructure Software and Senior Analyst

    Shaul Eyal - MD of Communications, Security and Infrastructure Software and Senior Analyst

  • Congrats on the ongoing strong performance. Quick one on my end. Jay, can you talk about the progress you're seeing on the federal front?

    祝賀持續強勁的表現。我這邊快點。傑,你能談談你在聯邦戰線上看到的進展嗎?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Yes. On the federal side, we actually are doing quite well. It's growing much faster than our total overall revenue. We expect to benefit from infrastructure plan or during this fiscal year. And that the EO directive that came from Biden administration early on, it's actually helping. We're seeing that federal bodies are actually, should I say, speeding up some of the projects that are stuck out there, it needed 2 things: it needed the right zero trust architecture, which we have; then it needed FedRAMP certification, and we have both of those things. We're the only security vendor with 2 highest FedRAMP certification. And we have a sizable team.

    是的。在聯邦方面,我們實際上做得很好。它的增長速度比我們的總收入要快得多。我們預計將受益於基礎設施計劃或本財年。拜登政府早期的 EO 指令實際上是有幫助的。我們看到聯邦機構實際上,應該說,正在加速一些被困在那裡的項目,它需要兩件事:它需要我們擁有的正確的零信任架構;然後它需要 FedRAMP 認證,而我們擁有這兩樣東西。我們是唯一擁有 2 個最高 FedRAMP 認證的安全供應商。我們有一個龐大的團隊。

  • Remo, can you give a color on where we are on...

    雷莫,你能告訴我們在哪裡嗎...

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Yes. So for federal, in the quarter, we were mid-single digits of total new sell business. As Jay mentioned, we've made significant investments in the federal sector. The certifications are significant. And as Jay mentioned, we're the only security vendor with the 2 highest FedRAMP certifications.

    是的。因此,對於聯邦而言,在本季度,我們的新銷售業務總額的中位數。正如傑伊所說,我們在聯邦部門進行了大量投資。認證意義重大。正如 Jay 所提到的,我們是唯一擁有兩項最高 FedRAMP 認證的安全供應商。

  • In addition, we've got a strong team in federal and good partners. So federal takes time, but we feel that we're well positioned in federal. Our pipeline is increasing, and our engagements are very good.

    此外,我們擁有一支強大的聯邦團隊和良好的合作夥伴。所以聯邦需要時間,但我們覺得我們在聯邦中處於有利地位。我們的管道正在增加,我們的參與度非常好。

  • Operator

    Operator

  • And our next question comes from Keith Bachman from BMO.

    我們的下一個問題來自 BMO 的 Keith Bachman。

  • Keith Frances Bachman - MD & Senior Research Analyst

    Keith Frances Bachman - MD & Senior Research Analyst

  • Jay, I wanted to ask you about competition, and I want to come at it in a little bit different way and break it in a few parts. In terms of greenfield activities, how often are you seeing -- because of your different architecture, are you essentially doing one-to-one negotiations? Or part B, how much are you seeing the same or different participants? And what I mean by that is there's -- I think most investors assume Palo Alto, but there's also a Cloudflare, Netskope, Menlo, iBoss. Is the field when you're negotiating on particularly new work, is it getting more crowded or less crowded? And then finally, does pricing enter into discussion, particularly for new work?

    傑伊,我想問你關於競爭的問題,我想以一種不同的方式來解決它,並將它分成幾個部分。就新建活動而言,您多久看到一次——由於您的架構不同,您本質上是在進行一對一的談判嗎?或者 B 部分,你看到多少相同或不同的參與者?我的意思是——我認為大多數投資者都假設帕洛阿爾托,但也有 Cloudflare、Netskope、Menlo、iBoss。當你就特別新的工作進行談判時,這個領域是變得更擁擠還是變得更少擁擠?最後,定價是否會進入討論,尤其是對於新作品?

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • It's a good question. So first of all, as we have driven top-down with CIOs for transformation, it's not typically we go in and say, I will replace this box. I'll replaced at these boxes. It's rarely a one-on-one replacement type of stuff. So we end up driving the agenda from that point of view. And it used to be that for ZIA, we would show them how we can help with secure web gateway and associated products, and Blue Coat would be the starting point for replacement or another web proxy.

    這是個好問題。因此,首先,由於我們已經與 CIO 自上而下地推動轉型,我們通常不會說,我會替換這個盒子。我會在這些盒子上更換。它很少是一對一的替代品。所以我們最終會從這個角度推動議程。過去,對於 ZIA,我們會向他們展示我們如何為安全 Web 網關和相關產品提供幫助,而 Blue Coat 將成為更換或其他 Web 代理的起點。

  • Then ZPA became an important piece, now more and more customers are buying ZIA and ZPA together. Now that's a different kind of players out there. So while having an expanded portfolio, when we go in and say, I can provide all access to all applications, no matter where they are, from anywhere, we have ZIA, ZPA. It just fundamentally changes that equation.

    然後 ZPA 成為了重要的一塊,現在越來越多的客戶一起購買 ZIA 和 ZPA。現在這是一種不同類型的球員。因此,在擴展產品組合的同時,當我們進入並說,我可以提供對所有應用程序的所有訪問權限,無論它們在哪裡,從任何地方,我們都有 ZIA、ZPA。它只是從根本上改變了這個等式。

  • Now ZDX being part of the same thing because CIO cares about user performance. So it's not common for us to get into, what do you call it, bake off kind of stuff because it's really not a one-on-one type of replacement.

    現在 ZDX 成為同一事物的一部分,因為 CIO 關心用戶性能。所以我們並不常見,你怎麼稱呼它,烤掉那種東西,因為它真的不是一對一的替代品。

  • Now on the lower end of the market, we do see a smattering of players from Cisco, from time to time, firewall guys from time to time, and whatnot. And once we engage, we win. That's why we're seeing our enterprise segment, 2,000 to 5,000 users actually growing pretty significantly.

    現在在市場的低端,我們確實看到了來自思科的少數玩家,時不時地看到防火牆專家,等等。一旦我們參與,我們就贏了。這就是為什麼我們看到我們的企業部門,2,000 到 5,000 名用戶實際上增長非常顯著。

  • Regarding pricing. We haven't really seen much pricing pressure. By the time we show the customer, all these point products we can displace, the operational costs and the like, price becomes the least important issue for us.

    關於定價。我們還沒有真正看到太大的定價壓力。當我們向客戶展示我們可以取代的所有這些重點產品、運營成本等時,價格對我們來說已成為最不重要的問題。

  • Operator

    Operator

  • And our next question comes from Joshua Tilton from Wolfe Research.

    我們的下一個問題來自 Wolfe Research 的 Joshua Tilton。

  • Joshua Alexander Tilton - Research Analyst

    Joshua Alexander Tilton - Research Analyst

  • Congrats on the strong results. As we just think about the remainder of the year, should we expect any unusual changes to the quarterly calculated billings seasonality maybe compared to prior years as we continue to lap a very, very strong FY '21?

    恭喜取得了不錯的成績。當我們只考慮今年剩餘的時間時,我們是否應該期望與前幾年相比,季度計算的賬單季節性發生任何不尋常的變化,因為我們將繼續度過非常非常強勁的 21 財年?

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Basically, our Q2 and Q4s are our largest quarters. And we talked about the billings being in the first half 43% to 44%. And one thing to keep in mind, I mean, the numbers are getting big. So as numbers get bigger, just keep that in mind related going forward related to your expectation.

    基本上,我們的第二季度和第四季度是我們最大的季度。我們談到上半年的賬單是 43% 到 44%。還有一件事要記住,我的意思是,數字越來越大。因此,隨著數字越來越大,請記住與您的期望相關的未來。

  • Operator

    Operator

  • And our next question comes from Erik Suppiger from JMP Securities.

    我們的下一個問題來自 JMP Securities 的 Erik Suppiger。

  • Erik Loren Suppiger - MD & Equity Research Analyst

    Erik Loren Suppiger - MD & Equity Research Analyst

  • Congratulations. On the $5 billion commitment, can you -- I understand that you just see within your installed base opportunity to get there. But can you talk a little bit about how you view the timing? If you don't want to set a time frame, can you give us some context in terms of kind of aspirations for how you can build towards that?

    恭喜。關於 50 億美元的承諾,您能否 - 我知道您只是在已安裝的基礎上看到了實現目標的機會。但是你能談談你如何看待時機嗎?如果您不想設定時間框架,您能否就您如何實現這一目標的願望給我們一些背景信息?

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Yes. I mean it's a great question. Clearly, we're going to try to get there as quickly as we can in a responsible manner. It really comes down to our execution, and it's really hard to give a time frame. We do have internal long-range plan model. And I can tell you that from my perspective and related to what I see related to our opportunity, really the opportunity's there.

    是的。我的意思是這是一個很好的問題。顯然,我們將以負責任的方式盡快到達那裡。這真的取決於我們的執行,而且很難給出一個時間表。我們確實有內部的長期計劃模型。我可以告訴你,從我的角度來看,與我所看到的與我們的機會相關的東西,真的機會就在那裡。

  • The key thing, Erik, is that if we continue to have significant growth, which we had this quarter, 62% revenue growth, we will -- again, we're going to forward lean, and we'll be mindful of our operating profitability. But that's really secondary from our perspective. The comment about contribution margin and the amount that we're spending for the first year, getting new customers, that's critical for us to continue to get those customers.

    埃里克,關鍵是,如果我們繼續有顯著增長,我們本季度實現了 62% 的收入增長,我們將——再次,我們將向前精益,我們將注意我們的運營盈利能力。但從我們的角度來看,這真的是次要的。關於邊際貢獻的評論以及我們第一年花費的金額來吸引新客戶,這對我們繼續吸引這些客戶至關重要。

  • The contribution margins in years 2 and 3 are 60-plus percent. This is -- I don't want to give a time frame on the call. We are driving aggressively, and we are putting growth over profitability. We'll be mindful of profitability. And the benefit that you've got with Jay and myself, we've seen a lot of things in our careers, and we've got a pretty good idea of how things are going to kind of work out for us. And when things come up that we need to make decisions, we'll make those decisions. But all our decisions will be made to increase value for our shareholders.

    第 2 年和第 3 年的邊際貢獻為 60% 以上。這是——我不想在電話會議上給出時間框架。我們正在積極推動,我們將增長置於盈利之上。我們會注意盈利能力。還有你和傑伊和我一起得到的好處,我們在職業生涯中看到了很多事情,而且我們非常清楚事情將如何對我們產生影響。當出現需要我們做出決定的事情時,我們會做出這些決定。但我們所有的決定都是為了增加股東的價值。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Yes. If I may add, I see no external factors today that I'm overly concerned about. I think it's largely our execution that we need to do right to make sure our team doesn't become complacent and arrogant because of success. So hiring people and hiring the right people, right leadership in place the way we have done in the past few years, that's the focus to continue.

    是的。如果我可以補充一下,我今天沒有看到我過度關注的外部因素。我認為我們需要正確執行,以確保我們的團隊不會因為成功而自滿和自大。因此,像我們過去幾年所做的那樣,僱用和僱用合適的人,正確的領導,這是我們繼續關注的重點。

  • Operator

    Operator

  • I would now like to turn the call back over to Jay Chaudhry for closing.

    我現在想將電話轉回給 Jay Chaudhry 以便結束。

  • Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

    Jay Chaudhry - Co-Founder, President, CEO & Chairman of the Board

  • Thank you all for your continued support and interest in Zscaler. We hope to see you at some of the investment conferences. Thank you again.

    感謝大家一直以來對 Zscaler 的支持和關注。我們希望在一些投資會議上見到您。再次感謝你。

  • Remo E. Canessa - CFO

    Remo E. Canessa - CFO

  • Thank you.

    謝謝你。

  • Operator

    Operator

  • Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect.

    謝謝你。今天的電話會議到此結束。感謝您的參與。您現在可以斷開連接。