Zscaler Inc (ZS) 2022 Q3 法說會逐字稿

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  • Operator

    Operator

  • Good day, and thank you for standing by. Welcome to the Zscaler Third Quarter 2022 Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions)

    美好的一天,感謝您的支持。歡迎來到 Zscaler 2022 年第三季度收益電話會議。 (操作員說明)請注意,今天的會議正在錄製中。 (操作員說明)

  • I would now like to hand the conference over to your speaker today, Mr. Bill Choi, Senior Vice President of Investor Relations and Strategic Finance. Mr. Choi, the floor is yours.

    我現在想把會議交給你今天的演講者,投資者關係和戰略財務高級副總裁 Bill Choi 先生。崔先生,地板是你的。

  • William Choi - Head of IR

    William Choi - Head of IR

  • Good afternoon, everyone, and welcome to the Zscaler Fiscal Third 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'll 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 財年第三季度收益電話會議。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。您會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 objectives and outlook, our customer response to our products and our market share and market opportunity. These statements and other comments are not guarantees of future performance, but rather are subject to risk and uncertainty, 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、我們的目標和前景、客戶對我們產品的反應以及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 June: Loop's Software Conference on June 1; Bank of America's Global Tech Conference on June 8; Mizu Virtual Cybersecurity Summit on June 13; and we will also host an investor briefing focused on our latest innovations at the Zenith Live Conference on June 22.

    我還想通知您,我們將在 6 月參加以下即將舉行的活動: 6 月 1 日 Loop 的軟件大會; 6月8日美國銀行全球科技大會; 6月13日Mizu虛擬網絡安全峰會;我們還將在 6 月 22 日的 Zenith Live Conference 上舉辦投資者簡報會,重點介紹我們的最新創新。

  • 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. We are pleased to report another strong quarter. In Q3, we delivered 63% year-over-year revenue growth, 54% billings growth and 15% free cash flow margins, all while investing for high growth. While most public SaaS companies are happy to get to rule of 40, we again exceeded the rule of 70 based on revenue growth and free cash flow margins.

    謝謝你,比爾。我們很高興地報告另一個強勁的季度。在第三季度,我們實現了 63% 的同比收入增長、54% 的賬單增長和 15% 的自由現金流利潤率,同時為高增長進行了投資。雖然大多數上市 SaaS 公司都樂於達到 40 規則,但基於收入增長和自由現金流利潤率,我們再次超過了 70 規則。

  • With our increased guidance today, we expect to achieve the rule of 80 for the full year. We are not only delivering excellent growth. We are also delivering strong profitability. We are disciplined in making investments for innovation and go-to-market scale with the breadth and depth of our ever-expanding Zero Trust platform, we can efficiently sell to our growing base of enterprise customers. We believe our clear focus on securing large enterprises makes us the partner of choice for our customers' Zero Trust security journey.

    隨著我們今天增加指導,我們預計全年實現 80 規則。我們不僅實現了出色的增長。我們還提供了強勁的盈利能力。我們通過不斷擴大的零信任平台的廣度和深度,在創新和進入市場規模方面進行投資,我們可以有效地向不斷增長的企業客戶群銷售產品。我們相信,我們對保護大型企業的明確關注使我們成為客戶零信任安全之旅的首選合作夥伴。

  • While there are broader macro challenges and economic uncertainties, we have seen an increase in large multiyear commitments for multiple product pillars of Zscaler platform as periods of uncertainty can act as a catalyst for change. This, coupled with growing cyber threats such as ransomware are driving IT leaders to transform security from (inaudible) mode security to Zero Trust architecture. In this environment, customers cannot risk transformational and mission-critical projects with immature offerings from unproven vendors. As the pioneer and category leader in Security Service Edge or SSE with the widest and deepest offerings, Zscaler is the trusted partner for vendor consolidation, cost savings, increased user productivity and better cyber protection. We are adding new Global 2000 customers at a record pace. In the last 2 quarters, we added close to 80 G2K customers. Now 40% of the Fortune 500 and 30% of Global 2000 companies trust Zscaler to secure their digital transformation. Approximately half of our Global 2000 customers have bought ZIA and ZPA, and I am excited to report that ZPA has surpassed over $200 million in annualized revenue.

    儘管存在更廣泛的宏觀挑戰和經濟不確定性,但我們看到 Zscaler 平台的多個產品支柱的大型多年承諾有所增加,因為不確定時期可以成為變革的催化劑。再加上不斷增長的網絡威脅(例如勒索軟件),正在推動 IT 領導者將安全性從(聽不清)模式安全性轉變為零信任架構。在這種環境下,客戶不能冒險使用未經驗證的供應商提供的不成熟產品來進行轉型和關鍵任務項目。作為安全服務邊緣或 SSE 的先驅和類別領導者,提供最廣泛和最深入的產品,Zscaler 是供應商整合、成本節約、提高用戶生產力和更好的網絡保護方面值得信賴的合作夥伴。我們正在以創紀錄的速度增加新的全球 2000 強客戶。在過去的兩個季度中,我們增加了近 80 個 G2K 客戶。現在,40% 的財富 500 強公司和 30% 的全球 2000 強公司信任 Zscaler 來確保他們的數字化轉型。我們的全球 2000 強客戶中約有一半購買了 ZIA 和 ZPA,我很高興地報告 ZPA 的年收入已超過 2 億美元。

  • In Q3, we had significant growth in new $1 million plus ACV deals across major geographies and customer verticals. We are seeing an acceleration in multiyear, multiproduct pillar deals as enterprises are racing to transform their business. We provide a path for large strategic customers to ramp into larger and longer commitments for our entire transformational platform, not just for elements of it. This is driving a strong growth in bookings with the total value of our committed future revenue reaching a key milestone. It has surpassed $2 billion.

    在第三季度,我們在主要地區和客戶垂直領域的 100 萬美元和 ACV 新交易顯著增長。隨著企業競相轉變業務,我們看到多年、多產品支柱交易的加速。我們為大型戰略客戶提供了一條途徑,可以為我們的整個轉型平台做出更大、更長久的承諾,而不僅僅是其中的元素。這推動了預訂量的強勁增長,我們承諾的未來收入總價值達到了一個關鍵的里程碑。它已超過 20 億美元。

  • Now let me highlight some customer deal wins during the quarter. As I mentioned before, I believe all customers will ultimately purchase ZIA, ZPA and ZDX for all users. This quarter, we have seen ample evidence that customers are buying ZIA, ZPA and ZDX together, providing zero trust security for users with fast user experience. In a new logo win, a global 500 food services conglomerate headquartered in Europe, purchased ZIA ZPA and ZDX for all 100,000 users, leveraging our globally distributed SSE platform. This customer is consolidating dozens of different vendors, point products across hundreds of locations in 45 countries. The customer was most excited about having a single zero trust security policy framework for in-line inspection across its business units in every location.

    現在讓我重點介紹本季度的一些客戶交易勝利。正如我之前提到的,我相信所有客戶最終都會為所有用戶購買 ZIA、ZPA 和 ZDX。本季度,我們已經看到大量證據表明客戶正在同時購買 ZIA、ZPA 和 ZDX,為用戶提供零信任安全性和快速的用戶體驗。在新的徽標中,一家總部位於歐洲的全球 500 強食品服務集團利用我們全球分佈的 SSE 平台為所有 100,000 名用戶購買了 ZIA ZPA 和 ZDX。該客戶正在整合數十個不同的供應商,在 45 個國家/地區的數百個地點提供單點產品。客戶最興奮的是擁有一個單一的零信任安全策略框架,用於在每個位置的業務部門進行在線檢查。

  • Given the significant cost savings, up-level security and improved user experience across the company, the CEO and CFO signed off on this non-budgeted 4-year commitment. In addition, they started a paid pilot for our zero trust for workloads offering for this sizable AWS footprint, which we are very excited about.

    鑑於整個公司的顯著成本節約、更高級別的安全性和改進的用戶體驗,首席執行官和首席財務官簽署了這項非預算的 4 年承諾。此外,他們為我們為如此龐大的 AWS 足跡提供的工作負載零信任啟動了一項付費試點,對此我們感到非常興奮。

  • Next, in an upsell deal, a global 10 oil and gas customer headquartered in Europe. After deploying ZIA and ZPA for 100,000 users, purchased ZDX for all 100,000 employees. ZDX is delivering immediate value by reducing the customers' time to troubleshoot performance issues by 50% to 80%, while consolidating 40 legacy performance point products.

    接下來,在追加銷售交易中,一家總部位於歐洲的全球 10 家石油和天然氣客戶進行了追加銷售。在為 100,000 名用戶部署 ZIA 和 ZPA 後,為所有 100,000 名員工購買了 ZDX。 ZDX 通過將客戶解決性能問題的時間減少 50% 到 80%,同時整合 40 個傳統性能點產品,從而提供即時價值。

  • In addition, the customer upgraded to a newly introduced ZPA transformation bundle that includes browser isolation, application protection and deception services. This is a 4-year deal that increased the customer's annual spend by over 70%. This customer's journey with Zscaler is remarkable. I remember sitting with the Chief Architect in their office, finalizing the purchase of our ZIA professional bundle 6 years ago. Since then, the annual spend has increased over 14x to well over $10 million.

    此外,客戶升級到新推出的 ZPA 轉換包,其中包括瀏覽器隔離、應用程序保護和欺騙服務。這是一項為期 4 年的交易,使客戶的年度支出增加了 70% 以上。這位客戶使用 Zscaler 的旅程非常精彩。我記得 6 年前和首席建築師坐在他們的辦公室裡,最終確定了購買我們的 ZIA 專業套裝。從那時起,每年的支出增長了 14 倍以上,超過 1000 萬美元。

  • Next, we look forward to working with them on zero trust for workloads.

    接下來,我們期待與他們合作,實現工作負載的零信任。

  • In an upsell win, a Fortune 50 bank in Asia that has deployed ZIA for over 50,000 users purchased ZPA and ZDX, for all 50,000 employees. This is another example of a large customer buying ZIA, ZPA and ZDX for all users. While the immediate objective for this deal was to replace a legacy multi-vendor VPN infrastructure, ZPA was selected to implement zero trust access by establishing an application-level policy, where users connect to specific applications now to a network, hence, achieving app segmentation without having to do legacy network segmentation.

    在一次追加銷售中,為超過 50,000 名用戶部署了 ZIA 的亞洲財富 50 強銀行為所有 50,000 名員工購買了 ZPA 和 ZDX。這是大客戶為所有用戶購買 ZIA、ZPA 和 ZDX 的另一個例子。雖然這筆交易的直接目標是替換傳統的多供應商 VPN 基礎設施,但 ZPA 被選中通過建立應用程序級策略來實施零信任訪問,用戶現在可以將特定應用程序連接到網絡,從而實現應用程序分段無需進行傳統的網絡分段。

  • ZPA did not just replace VPN. It's eliminating the need for the entire inbound DMC, including DDoS protection, app delivery controllers and firewalls, generating a payback on the Zscaler purchase within 6 months because of the substantial ROI Even in a tougher macro, Zscaler can help reduce cost while driving transformation. Our integration with Microsoft's E5 suite across ZIA and ZPA was also an important decision factor for them. This latest purchase more than doubled the customers' annual spend.

    ZPA 不僅取代了 VPN。它消除了對整個入站 DMC 的需求,包括 DDoS 保護、應用交付控制器和防火牆,由於可觀的投資回報率,在 6 個月內對 Zscaler 的購買產生了回報即使在更嚴格的宏觀環境中,Zscaler 也可以幫助降低成本,同時推動轉型。我們在 ZIA 和 ZPA 中與 Microsoft 的 E5 套件的集成也是他們的一個重要決策因素。此次最新購買使客戶的年度支出增加了一倍多。

  • ZIA, ZPA and CDX together form a complete solution to implement zero trust for users. Our next immediate big opportunity is zero trust for workloads powered by the same core ZI and ZPA technology. Let me highlight a few exciting wins in this area. An existing Fortune 100 financial services customer with ZIA deployed for 60,000 users purchased zero trust for workloads to protect 50,000 workloads spanning across multiple data centers and public clouds. This eliminates the need for virtual firewalls and site-to-site VPNs. This multimillion-dollar ACV deal is our largest workload deal to date and more than doubles the customers' annual spend. The customer protects both users and workloads under a single policy framework, enhancing their cyber protection, providing visibility and simplifying operations.

    ZIA、ZPA和CDX共同構成完整的解決方案,為用戶實現零信任。我們的下一個直接重大機會是對由相同核心 ZI 和 ZPA 技術提供支持的工作負載的零信任。讓我強調一下該領域的一些令人興奮的勝利。為 60,000 名用戶部署了 ZIA 的現有財富 100 強金融服務客戶購買了對工作負載的零信任,以保護跨多個數據中心和公共雲的 50,000 個工作負載。這消除了對虛擬防火牆和站點到站點 VPN 的需求。這筆價值數百萬美元的 ACV 交易是我們迄今為止最大的工作量交易,是客戶年度支出的兩倍多。客戶在單一策略框架下保護用戶和工作負載,增強他們的網絡保護,提供可見性並簡化操作。

  • Lastly, let me discuss the new customer purchasing all 4 product pillars together. At a lead research university purchased our comprehensive ZIA, ZPA and ZDX offerings for 35,000 users and 0 trustful workloads for over 3,000 workloads for the multi-cloud environment. their CIO's top priorities to eliminate the risk of legacy VPNs and lateral threat movement as universities are increasingly becoming a target for an somewhere and intellectual property effect. Also, a critical requirement for this win was our zero trust platform, meeting the criteria of zero trust framework as recommended by NIST we closed this 3-year 8-figure deal through AWS marketplace. I'm very happy with our continued success in expanding our routes to market via cloud marketplaces.

    最後,讓我一起討論購買所有 4 個產品支柱的新客戶。在一所領先的研究型大學為 35,000 名用戶購買了我們全面的 ZIA、ZPA 和 ZDX 產品,並為多雲環境的 3,000 多個工作負載購買了 0 個可信工作負載。隨著大學越來越成為某個地方和知識產權效應的目標,他們的 CIO 的首要任務是消除遺留 VPN 和橫向威脅移動的風險。此外,這次勝利的一個關鍵要求是我們的零信任平台,符合 NIST 推薦的零信任框架標準,我們通過 AWS 市場完成了這項為期 3 年 8 位數的交易。我對我們在通過雲市場擴展市場路線方面的持續成功感到非常高興。

  • Next, I'm excited to highlight U.S. federal government where we are having considerable momentum, driven in part by the President's executive order, we are seeing increased interest in our zero trust exchange across all levels of the government. We are excited to help our country dramatically improve our security posture while significantly reducing legacy IT costs. We have the highest level of FedRAMP certifications for ZIA and ZPA. In addition, ZPA is the only zero trust solution with DoD IL-5 certification. There are only a select few cloud companies that have this level of certification. -- and there's no other cybersecurity company at this level.

    接下來,我很高興地強調美國聯邦政府的發展勢頭相當強勁,部分原因是受總統行政命令的推動,我們看到各級政府對我們的零信任交流的興趣越來越大。我們很高興能幫助我們的國家顯著改善我們的安全狀況,同時顯著降低傳統 IT 成本。我們擁有 ZIA 和 ZPA 最高級別的 FedRAMP 認證。此外,ZPA 是唯一獲得 DoD IL-5 認證的零信任解決方案。只有少數幾家云公司擁有此級別的認證。 - 在這個級別上沒有其他網絡安全公司。

  • IL-5 certification is an important differentiator for us. Let me highlight 2 new customer wins this quarter where this was an important factor. -- plus, a defense contractor that purchased ZIA and ZPA in a 6-year 7-figure ACV deal. Second, a DoD unit also purchased ZPA for secure access to SAP instances in AWS GovCloud. Two important considerations for our ongoing success in the federal market are : first, ZPA is the only cloud security service with FedRAMP high authorization for zero trust remote access. We connect users to applications and not to the network eliminating lateral threat movement, a core principle of zero trust architecture that can't be achieved by next-gen firewalls or cloud VPNs; second, ZIA's proxy architecture, which inspects TLS encrypted traffic at scale, delivering superior security.

    IL-5 認證對我們來說是一個重要的差異化因素。讓我強調一下本季度贏得的 2 個新客戶,這是一個重要因素。 ——另外,一家國防承包商以 6 年 7 位數的 ACV 交易購買了 ZIA 和 ZPA。其次,國防部的一個部門還購買了 ZPA,以安全訪問 AWS GovCloud 中的 SAP 實例。我們在聯邦市場取得成功的兩個重要考慮因素是:首先,ZPA 是唯一具有 FedRAMP 高度授權的雲安全服務,可實現零信任遠程訪問。我們將用戶連接到應用程序而不是網絡,消除了橫向威脅移動,這是下一代防火牆或云 VPN 無法實現的零信任架構的核心原則;其次,ZIA 的代理架構,可大規模檢查 TLS 加密流量,提供卓越的安全性。

  • Our proven track record, running the world's largest in-line security cloud makes Zscaler the obvious and trusted partner of choice for governments and enterprises. We now have 288 customers exceeding $1 million in ARR, an increase of 77% year-over-year. We deliver a mission-critical service that requires unmatched reliability and availability for an in-line cloud. There is no compression algorithm for over 10 years of operational experience running such a cloud. An example of our proven scale is that Zscaler processes over 240 billion transactions in line per day, which is more than 20x the number of Google searches per day.

    我們經過驗證的業績記錄,運行世界上最大的在線安全雲,使 Zscaler 成為政府和企業顯而易見且值得信賴的首選合作夥伴。我們現在有 288 位客戶的 ARR 超過 100 萬美元,同比增長 77%。我們提供的任務關鍵型服務要求內嵌雲具有無與倫比的可靠性和可用性。運行此類雲的 10 多年運營經驗沒有壓縮算法。我們經過驗證的規模的一個例子是 Zscaler 每天處理超過 2400 億筆在線交易,這是每天 Google 搜索次數的 20 倍以上。

  • Now let me share a few observations about our high net retention rate, which has exceeded 125% for the last 6 quarters. We made a number of investments in customer success services, technical account managers, partner services and certification of partners, which together are driving a faster and greater adoption across our broad portfolio. We have a sorted blueprint for accelerating value delivery, which is driving upsells. All of these investments result in happy customers, demonstrated by our Net Promoter Score or NPS of more than 70%, which is more than 2x that of an average SaaS company.

    現在讓我分享一些關於我們高淨留存率的看法,過去 6 個季度該淨留存率已超過 125%。我們在客戶成功服務、技術客戶經理、合作夥伴服務和合作夥伴認證方面進行了大量投資,這共同推動了我們廣泛的產品組合更快、更廣泛地採用。我們有一個加速價值交付的藍圖,這正在推動追加銷售。所有這些投資都帶來了滿意的客戶,我們的淨推薦值或 NPS 超過 70% 證明了這一點,這是普通 SaaS 公司的 2 倍以上。

  • Next, let me now highlight our rapid pace of innovation. After having built the most comprehensive platform to provide zero trust for users. We are now expanding it for zero trust for workloads. Unlike scores of vendors who offer point products for cloud-native apps. Zscaler has developed a fully integrated CSM, IEM and infrastructure as core scanning with a common back end and fully correlated actionable dashboard. Gartner calls his functionality CNA, but we have moved beyond CNA by integrating the threat and data awareness from CIA and ZPA. We will be highlighting it and other innovations at Zenith Live, our Annual Cloud Summit next month. We enhanced our AI ML engine for ZDX, our fastest-growing new service to leverage billions of telemetry points from millions of users to improve digital user experience. It cannot only automatically figure out what and where performance issues are but can also provide information about the quality of voice, video and screen sharing due to our integration with Microsoft Teams and Zoom. We have also integrated ZDX with ServiceNow, making customer end user support far more efficient. ZDX also got certified and became available on our Federal Cloud. Our threat labs security research team is tracking over a dozen APT groups and getting better reconnaissance about the tools and behavioral patterns, resulting in higher order threat intelligence. This specific threat intel, coupled with a massive cloud effect from 240 billion transactions and 300 trillion signals per day, enables Zscaler to deliver better threat protection than other vendors.

    接下來,讓我現在強調一下我們快速的創新步伐。在構建了最全面的平台之後,為用戶提供零信任。我們現在正在擴展它以實現對工作負載的零信任。與許多為雲原生應用程序提供點產品的供應商不同。 Zscaler 開發了一個完全集成的 CSM、IEM 和基礎設施作為核心掃描,具有一個通用的後端和完全相關的可操作儀表板。 Gartner 將他的功能稱為 CNA,但我們通過整合來自 CIA 和 ZPA 的威脅和數據意識已經超越了 CNA。我們將在下個月的年度雲峰會 Zenith Live 上重點介紹它和其他創新。我們為 ZDX 增強了 AI ML 引擎,這是我們增長最快的新服務,利用來自數百萬用戶的數十億遙測點來改善數字用戶體驗。由於我們與 Microsoft Teams 和 Zoom 的集成,它不僅可以自動找出性能問題所在和位置,還可以提供有關語音、視頻和屏幕共享質量的信息。我們還將 ZDX 與 ServiceNow 集成,使客戶最終用戶支持更加高效。 ZDX 也獲得了認證,並在我們的聯邦雲上可用。我們的威脅實驗室安全研究團隊正在跟踪十幾個 APT 組,並對工具和行為模式進行更好的偵察,從而產生更高級別的威脅情報。這種特定的威脅情報,再加上每天 2400 億次交易和 300 萬億次信號產生的巨大雲效應,使 Zscaler 能夠提供比其他供應商更好的威脅防護。

  • Moving beyond users and workloads. We are now bringing zero trust to IoT and OT systems, a large emerging opportunity. Today, Siemens and Zscaler announced the availability of an integrated all-in-one solution to accelerate secure access to OT systems. Our joint development with Siemens brings the benefits of Zscaler to factory and industrial control systems. We are thrilled to have Siemens a long-standing customer as a development and go-to-market partner.

    超越用戶和工作負載。我們現在正在為 IoT 和 OT 系統帶來零信任,這是一個巨大的新興機會。今天,西門子和 Zscaler 宣布推出一種集成的一體化解決方案,以加速對 OT 系統的安全訪問。我們與西門子的聯合開發將 Zscaler 的優勢帶入了工廠和工業控制系統。我們很高興能將西門子作為開發和上市合作夥伴的長期客戶。

  • In closing, in spite of uncertain macro conditions, we continue to see strong demand for our services. We are in a strong financial position and we will continue to aggressively invest in our business. We are focused on hiring and developing talent and creating a culture that rewards innovation at all levels. We have grown our global organization to approximately 4,500 employees who are energized by our shared mission to secure the hyper-connected world of cloud and mobility. We grew our total sales and marketing headcount by 54% year-over-year, and we remain focused on investing in our go-to-market machine.

    最後,儘管宏觀環境不確定,但我們繼續看到對我們服務的強勁需求。我們的財務狀況良好,我們將繼續積極投資於我們的業務。我們專注於招聘和培養人才,並創造一種獎勵各級創新的文化。我們的全球組織已經發展到大約 4,500 名員工,我們共同的使命使他們充滿活力,以保護超連接的雲和移動世界。我們的銷售和營銷總人數同比增長了 54%,我們仍然專注於投資我們的上市機器。

  • In today's competitive hiring market, Zscaler is a destination for top talent to drive continued growth in hiring and to build on Zscaler's high-performing hybrid work culture. This month, we welcome Brandon Cassel, Google's former Global Head of Talent Acquisition, as our new Chief People Officer. Brandon has proven experience in building highly motivated and productive teams at scale with app transformation already mainstream. Network and security transformation is also becoming mainstream, which we pioneered with our Zero Trust Exchange. We believe customers trust Zscaler more than any other provider for securing their cloud journey.

    在當今競爭激烈的招聘市場中,Zscaler 是頂尖人才推動招聘持續增長並建立 Zscaler 高性能混合工作文化的目的地。本月,我們歡迎 Google 前全球人才招聘主管 Brandon Cassel 擔任我們新的首席人力官。 Brandon 在大規模建立高度積極和高效的團隊方面擁有成熟的經驗,應用轉型已經成為主流。網絡和安全轉型也正在成為主流,我們率先推出了零信任交換。我們相信客戶比任何其他提供商都更信任 Zscaler 來保護他們的雲之旅。

  • Recent uncertainty in the macro environment is driving customers to accelerate their network and security transformation with our integrated platform, resulting in a reduction in cost, complexity and business risk. We are adding a record number of Global 2000 customers, know with 30% of Global 2000 and 40% of Fortune 500 customers trusting Zscaler. These demanding customers are making large multiyear commitments to our platform.

    最近宏觀環境的不確定性正在推動客戶通過我們的集成平台加速他們的網絡和安全轉型,從而降低成本、複雜性和業務風險。我們正在增加創紀錄數量的全球 2000 強客戶,其中 30% 的全球 2000 強客戶和 40% 的財富 500 強客戶信任 Zscaler。這些苛刻的客戶對我們的平台做出了多年的承諾。

  • We are not just growing rapidly at any cost, we are also profitable and delivering efficient growth. We will continue our disciplined investment in innovation and growth to capture the large and growing opportunity ahead of us.

    我們不僅不惜一切代價快速增長,我們還盈利並實現高效增長。我們將繼續對創新和增長進行有紀律的投資,以抓住擺在我們面前的巨大且不斷增長的機會。

  • Now I'd like to turn over the call to Remo for our financial results.

    現在,我想將電話轉給 Remo,以了解我們的財務業績。

  • Remo Canessa - CFO

    Remo Canessa - CFO

  • Thank you, Jay. As Jay mentioned, we are pleased with the results for the third quarter of fiscal 2022. Revenue for the quarter was $287 million, up 63% year-over-year and up 12% sequentially. On a year-over-year basis, revenue growth exceeded 60% for the third straight quarter driven by strong customer demand for our zero trust platform. CPA product revenue was approximately 18% of total revenue, growing 87% year-over-year.

    謝謝你,傑。正如傑伊所說,我們對 2022 財年第三季度的業績感到滿意。該季度的收入為 2.87 億美元,同比增長 63%,環比增長 12%。在客戶對我們的零信任平台的強勁需求的推動下,收入同比增長連續第三個季度超過 60%。 CPA 產品收入約佔總收入的 18%,同比增長 87%。

  • From a geographic perspective, we had broad strength across our 3 major regions. Americas represented 52% of revenue, EMEA was 33% and APJ was 15%. APJ continues to be our fastest-growing region with revenue growth of 105% year-over-year. Our total calculated billings grew 54% year-over-year to $346 million, with billing duration comparable to a year ago and above the midpoint of our normal 10 to 14 months range.

    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 52%,EMEA 為 33%,APJ 為 15%。 APJ 繼續成為我們增長最快的地區,收入同比增長 105%。我們計算的總賬單同比增長 54% 至 3.46 億美元,賬單持續時間與一年前相當,高於我們正常 10 至 14 個月範圍的中點。

  • Our remaining performance obligations or RPO grew 83% from a year ago, to $2.216 billion. The current RPO is 49% of the total RPO. Our strong customer retention rate and our ability to upsell the broader platform have resulted in a high dollar-based net retention rate, which was, again, above 125%. We had 288 customers paying us more than $1 million annually, up 77% and from 163 in the prior year. I'm very pleased with the pace at which we're adding these $1 million ARR customers. We increased by 37 customers in the quarter, the continued strength of this metric speaks to our large enterprise focus and the strategic role we play in our customers' digital transformation initiatives.

    我們剩餘的履約義務或 RPO 比一年前增長了 83%,達到 22.16 億美元。當前的 RPO 是總 RPO 的 49%。我們強大的客戶保留率和我們向更廣泛平台追加銷售的能力導致了以美元為基礎的高淨保留率,再次超過 125%。我們有 288 位客戶每年向我們支付的費用超過 100 萬美元,比上一年的 163 位增長了 77%。我對我們增加這些 100 萬美元 ARR 客戶的速度感到非常滿意。我們在本季度增加了 37 個客戶,這一指標的持續優勢說明了我們對大型企業的關注以及我們在客戶的數字化轉型計劃中發揮的戰略作用。

  • We added 140 customers in the quarter paying us more than $100,000 annually, ending the quarter at 1,891 such customers.

    我們在本季度增加了 140 名客戶,每年向我們支付超過 100,000 美元,本季度末此類客戶為 1,891 名。

  • Turning to the rest of our Q3 financial performance. Total gross margin of 80.6% was approximately flat quarter-over-quarter and year-over-year. Our total operating expenses increased 11% sequentially and 70% year-over-year to $204 million. Operating expenses as a percentage of revenue was 71% compared to 68% in the year ago quarter due to a partial return of T&E.

    轉向我們第三季度財務業績的其餘部分。總毛利率為 80.6%,環比和同比基本持平。我們的總運營費用環比增長 11%,同比增長 70%,達到 2.04 億美元。由於 T&E 的部分回報,營業費用佔收入的百分比為 71%,而去年同期為 68%。

  • Operating margin was 9% and free cash flow margin was 15%. We continue to expect data center CapEx to be around high single-digit percent of revenue for the full year. We ended the quarter with over $1.66 billion in cash, cash equivalents and short-term investments.

    營業利潤率為 9%,自由現金流利潤率為 15%。我們繼續預計數據中心資本支出將佔全年收入的個位數百分比左右。我們在本季度末擁有超過 16.6 億美元的現金、現金等價物和短期投資。

  • 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. We are once again increasing our guidance across all metrics. For the fourth quarter of fiscal 2022, we expect revenue in the range of $304 million to $306 million, reflecting a year-over-year growth of 54% to 55%, 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 them for gross margins.

    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。我們再次增加對所有指標的指導。對於 2022 財年第四季度,我們預計收入在 3.04 億美元至 3.06 億美元之間,同比增長 54% 至 55%,毛利率為 79%。我想提醒投資者,我們的一些新興產品,包括 ZDX、工作負載細分和 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,而不是針對毛利率進行優化邊距。

  • Operating profit in the range of $33 million to $34 million, we have more in-person events this quarter, including customer events, Zenith Live and RSA conferences. Net loss on other income of $500,000, income taxes of $3 million; earnings per share of $0.20 to $0.21, assuming approximately 146 million to 147 million fully diluted shares.

    營業利潤在 3300 萬美元到 3400 萬美元之間,本季度我們舉辦了更多現場活動,包括客戶活動、Zenith Live 和 RSA 會議。其他收入淨虧損 500,000 美元,所得稅 300 萬美元;每股收益為 0.20 美元至 0.21 美元,假設大約 1.46 億至 1.47 億股完全稀釋的股份。

  • For the full year fiscal 2022, we are increasing our revenue guidance to approximately $1.078 billion for a year-over-year growth of 60%. Increasing calculated billings to a range of $1.425 billion to $1.43 billion for a year-over-year growth of approximately 53%. Increasing our operating profit to a range of $106 million to $108 million. Increasing our earnings per share to a range of $0.64 to $0.65, assuming approximately $147 million to 148 million fully diluted shares. Free cash flow of $215 million, reflecting free cash flow margin of approximately 20% for the full year with a revenue growth outlook of 60% and free cash flow margin of 20%, we expect to operate at the rule of 80 for the full year.

    對於 2022 財年全年,我們將收入指引提高至約 10.78 億美元,同比增長 60%。將計算出的賬單增加到 14.25 億美元至 14.3 億美元之間,同比增長約 53%。將我們的營業利潤提高到 1.06 億美元到 1.08 億美元之間。假設大約 1.47 億至 1.48 億股完全稀釋後的股份,將我們的每股收益提高至 0.64 至 0.65 美元。自由現金流為 2.15 億美元,反映全年自由現金流利潤率約為 20%,收入增長前景為 60%,自由現金流利潤率為 20%,我們預計全年將按照 80 規則運營.

  • With customers increasingly adopting the broader platform with longer-term commitments, we plan to invest in capturing our large market opportunity, confidence in the durability of our business model with very high contribution margins, after the initial land and proven ability to retain and upsell to our enterprise customer base.

    隨著客戶越來越多地採用具有長期承諾的更廣泛的平台,我們計劃投資於抓住我們巨大的市場機會,對我們具有非常高利潤率的業務模式的持久性充滿信心,在最初的土地和經過驗證的保留和追加銷售能力之後我們的企業客戶群。

  • We will balance growth and profitability based on how our business is growing, and we'll continue to prioritize growth, which we believe is the best interest of our shareholders, employees and customers.

    我們將根據我們的業務增長方式平衡增長和盈利能力,我們將繼續優先考慮增長,我們認為這是我們股東、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) Our first question comes from Andrew Nowinski of Wells Fargo.

    (操作員說明)我們的第一個問題來自 Wells Fargo 的 Andrew Nowinski。

  • Andrew Nowinski - Wells Fargo Securities, LLC, Research Division

    Andrew Nowinski - Wells Fargo Securities, LLC, Research Division

  • Congrats on another amazing quarter. I wanted to ask about your federal demand. Jay, I think you said you saw you're seeing considerable momentum in the U.S. Federal this quarter or this -- which seems to be an uptick from Q2, where I think it was maybe one of the underperforming sectors. So just wondering if you could comment on maybe what changed and what caused that uptick in demand this quarter ahead of the usual budget flush in calendar Q3?

    祝賀另一個驚人的季度。我想問一下你的聯邦要求。傑伊,我想你說過你看到美國聯邦在本季度或本季度看到了相當大的勢頭——這似乎比第二季度有所上升,我認為它可能是表現不佳的行業之一。因此,只是想知道您是否可以在日曆第三季度通常的預算沖減之前評論可能發生了什麼變化以及導致本季度需求上升的原因?

  • Remo Canessa - CFO

    Remo Canessa - CFO

  • Andrew, I'll start it last quarter, Q2, our federal was low single digit of new and upsell. And in Q3, it was mid-single digit. -- so definitely an uptick. Also, on a go-forward basis, we do see federal as being an important contributor to Zscaler. We feel that we're well positioned in the federal market.

    安德魯,我將在上個季度開始,第二季度,我們的聯邦是新的和追加銷售的低個位數。在第三季度,它是中個位數。 - 所以絕對是一個上升。此外,在前進的基礎上,我們確實認為聯邦是 Zscaler 的重要貢獻者。我們認為我們在聯邦市場處於有利地位。

  • I'll let Jay speak more to that.

    我會讓傑說更多。

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

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

  • Yes. Andrew, as you know, President's executive order is to implement zero trust architecture, and it's well aligned it actually aligns with what we have done. To be success in federal, you need 2 things. One, you need the right architecture, zero trust, which we have. Two, unique FedRAMP certifications. And we have the highest FedRAMP certifications. And now there's a timing issue as well. White House issued a memo setting a time line for agencies to achieve zero trust architecture within 2 years. These plans are being submitted and more budgets are becoming available. All of this is positive long-term development from our point of view. However, for opportunities always save time.

    是的。安德魯,如你所知,總統的行政命令是實施零信任架構,它與我們所做的實際上是一致的。要在聯邦取得成功,您需要兩件事。一,您需要我們擁有的正確架構,零信任。二、獨特的 FedRAMP 認證。我們擁有最高的 FedRAMP 認證。現在還有一個時間問題。白宮發布了一份備忘錄,為各機構在 2 年內實現零信任架構設定了時間表。這些計劃正在提交,更多的預算正在變得可用。從我們的角度來看,所有這些都是積極的長期發展。然而,機會總是節省時間。

  • Operator

    Operator

  • Our next question comes from Alex Henderson of Needham.

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

  • Alexander Henderson - Needham & Company, LLC, Research Division

    Alexander Henderson - Needham & Company, LLC, Research Division

  • Great. I've been listening to a lot of people trying to get into this zero trust market. And 1 of the things that really strikes me is highly differentiated is, one, the policy implementation mechanics are so radically different than what you're doing versus the traditional perimeter defense. And then second is the sharp increase in attacks that we're seeing in terms of encrypted traffic, received the report today talking about over a 300% increase in encrypted attacks over the last year.

    偉大的。我一直在聽很多人試圖進入這個零信任市場。真正讓我印象深刻的一件事是高度差異化的,一是政策實施機制與您所做的與傳統的外圍防守截然不同。其次是我們在加密流量方面看到的攻擊急劇增加,今天收到的報告談到加密攻擊比去年增加了 300% 以上。

  • Can you talk to the relevance of those 2 data points or those 2 concepts relative to your platform? And how you solve that better than, say, alternative vendors? And in that context, can you just address Cloudflare's comments that they're getting more aggressive in this space?

    你能談談這兩個數據點或這兩個概念與你的平台的相關性嗎?以及如何比替代供應商更好地解決這個問題?在這種情況下,您能否解決 Cloudflare 的評論,即他們在這個領域變得越來越激進?

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

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

  • Yes, Alex. So first of all, zero trust implementation. People sometimes build a little P&A play spend they call it zero trust. What we built with Zscaler Private Access is a platform that it plays the entire inbound D&C. Literally, you need nothing between c-scale and the workload and application running. And in fact, on top of that, we further expanded to a browser isolation, app protection, interior deception and IM-based policy that can help you do segmentation. It's because of that you're winning CPB a big time. So that's 1 part.

    是的,亞歷克斯。首先,零信任實現。人們有時會建立一點 P&A 遊戲支出,他們稱之為零信任。我們使用 Zscaler Private Access 構建的是一個播放整個入站 D&C 的平台。從字面上看,在 c-scale 與工作負載和應用程序運行之間您不需要任何東西。事實上,除此之外,我們還進一步擴展了瀏覽器隔離、應用程序保護、內部欺騙和基於 IM 的策略,可以幫助您進行細分。正因為如此,您才能贏得 CPB 大獎。所以這是1部分。

  • The second part was a tax. So first of all, for someone to attack the need to find with our Zero Trust architecture, your applications behind the power they can even find. And with the next from are taxes, and this is impacted tax. For that, you need a proper proxy architecture that actually terminate connection, look at the package and everything, decrypt them, find them and take care of them. For that, we have built a very, very highly scalable architecture that sets us apart that scales like nothing else out there. So it's a combination of these things. With 10-plus years of experience running a massive in-line cloud is what sets us apart from others.

    第二部分是稅收。所以首先,對於有人攻擊的需求,我們的零信任架構需要找到,你的應用程序背後的力量他們甚至可以找到。接下來是稅收,這是受影響的稅收。為此,您需要一個適當的代理架構來實際終止連接、查看包和所有內容、解密它們、找到它們並處理它們。為此,我們構建了一個非常、非常高度可擴展的架構,使我們與眾不同,可擴展性無與倫比。所以它是這些東西的組合。憑藉 10 多年運行大型在線雲的經驗,我們與眾不同。

  • Now regarding some of the competitors coming from CD and market are DDoS or DNS market, right, those guys generally have been focused on servers, we start focusing on users to start with. It takes a lot of time and experience to build our richness and breadth of functionality we have built with ZIP and associated functionality. I think it will take a long, long time for someone to try to catch us. And we are setting. We are innovating at a very fast pace.

    現在關於一些來自 CD 和市場的競爭對手是 DDoS 或 DNS 市場,對,那些傢伙一般都專注於服務器,我們開始專注於用戶。構建我們使用 ZIP 和相關功能構建的豐富性和廣度功能需要大量時間和經驗。我認為有人試圖抓住我們需要很長時間。我們正在設置。我們正在以非常快的速度進行創新。

  • Operator

    Operator

  • Next, we have Hasma Fodderwala of Morgan Stanley.

    接下來是摩根士丹利的 Hasma Fodderwala。

  • Hamza Fodderwala - Morgan Stanley, Research Division

    Hamza Fodderwala - Morgan Stanley, Research Division

  • Just one question for Remo. I'm wondering if you can give us a little bit more color on how you're thinking about the margin trajectory going forward? It seems like you want to continue hiring against the market opportunity that you're seeing. Zscaler has obviously been more of a destination for talent in the last couple of years. And particularly the incentive structure around the stock, a lot of employees have done well. How are you thinking about that incentive structure between cash and stock going forward, given that we're probably going to be in a more difficult equity market in general and just the pace of hiring relative to what you've done in the last couple of years.

    雷莫只有一個問題。我想知道你是否可以給我們更多關於你如何看待未來利潤軌蹟的顏色?您似乎想繼續針對您所看到的市場機會進行招聘。在過去的幾年裡,Zscaler 顯然更像是人才的目的地。尤其是圍繞股票的激勵結構,很多員工都做得很好。你如何看待未來現金和股票之間的激勵結構,因為我們可能會處於一個更加困難的股票市場,而且招聘速度相對於你在過去幾年所做的工作年。

  • Remo Canessa - CFO

    Remo Canessa - CFO

  • There are a lot of questions Yes. Yes. Let me see if I can go through and just kind of give you my view and maybe Jay can tell that also. We -- currently, we're at the rule of 80. That's what we're projecting for this year. And the way we define the rule of 80 is our revenue growth and also free cash flow margin. Our free cash flow margin this year, we're projecting to be 20%. It was 20% last year. So we're in a unique position to really take advantage of this market opportunity because we've got significant cash flow coming into the company as well as we're in the early stages of this market. So we're going to continue to make investments as we go forward. Those investments are going to be across the board throughout the organization, and we're going to -- and our goal is to get to a $5 billion ARR company. So we're building the infrastructure in place to do that.

    有很多問題是的。是的。讓我看看我是否可以通過並只是給你我的觀點,也許傑伊也可以告訴你。我們 - 目前,我們處於 80 歲的規則。這就是我們今年的預測。我們定義 80 規則的方式是我們的收入增長和自由現金流利潤率。我們今年的自由現金流利潤率預計為 20%。去年是20%。因此,我們處於一個獨特的位置,可以真正利用這個市場機會,因為我們有大量現金流進入公司,而且我們處於這個市場的早期階段。因此,我們將在前進的過程中繼續進行投資。這些投資將貫穿整個組織,我們將——我們的目標是成為一家價值 50 億美元的 ARR 公司。因此,我們正在建立適當的基礎設施來做到這一點。

  • And related to employees and incentives with the stock options and just cash incentives, the cash incentives that we talked about on the last call related to the frothy environment, last quarter with a lot of start-up companies and companies or PE-backed companies having really big packages. So we adjusted our merit to reflect to get our employees at market levels. So from a cash compensation perspective, we're in pretty good shape.

    與員工和激勵相關的股票期權和現金激勵,我們在上次電話會議上談到的現金激勵與泡沫環境有關,上個季度有很多初創公司和公司或 PE 支持的公司擁有非常大的包裹。因此,我們調整了我們的績效以反映讓我們的員工處於市場水平。因此,從現金補償的角度來看,我們的狀況非常好。

  • Regarding stock, Stock, all companies basically have decreased stock prices and -- what we're doing is we're taking a look at that. No decisions made at this point regarding what we're going to do from a stock perspective. But what I can say is our stock-based compensation as we go forward, will decrease as a percentage of revenue. What happens is that when you get to a certain scale as a company and a very large company, their stock-based compensation becomes -- goes down. We'll follow the same path as the large companies, you'll see our stock base coming down over a period of time.

    關於股票,股票,所有公司基本上都降低了股價,我們正在做的是我們正在研究它。從股票的角度來看,目前沒有關於我們將要做什麼的決定。但我可以說的是,隨著我們前進,我們基於股票的薪酬將佔收入的百分比下降。發生的情況是,當你作為一家公司和一家非常大的公司達到一定規模時,他們的股票薪酬就會下降。我們將遵循與大公司相同的道路,您會看到我們的股票基礎在一段時間內下降。

  • Regarding the pace of hiring, -- and again, we're seeing all the things that you're seeing related to the global macro environment. We're not seeing it. From our perspective, we are strategic for our customers. As Jay talked about, our deal sizes are getting large. Our strategic nature and our engagement with our customers is increasing. So our plan is to continue the pace of hiring. And if we can increase the pace of hiring, we will. Now regarding color to -- related to operating profitability and also growth. we'll put growth because, #1, we are mindful. Jay and I are mindful of operating profitability in world school, quite frankly, we look at the bottom line. So we see -- we see a huge market opportunity, huge we feel we're the leader in that market. We will continue to invest, and we'll do it on a prudent basis that we feel is the best interest of our shareholders and our employees.

    關於招聘的步伐,我們再次看到您所看到的與全球宏觀環境相關的所有事情。我們沒有看到它。從我們的角度來看,我們對客戶具有戰略意義。正如傑所說,我們的交易規模越來越大。我們的戰略性質和與客戶的互動正在增加。所以我們的計劃是繼續招聘的步伐。如果我們能加快招聘步伐,我們會的。現在關於顏色 - 與運營盈利能力和增長有關。我們將增長,因為,#1,我們很注意。傑伊和我非常關注世界學校的運營盈利能力,坦率地說,我們關注的是底線。所以我們看到 - 我們看到了巨大的市場機會,我們覺得我們是該市場的領導者。我們將繼續投資,我們將在我們認為符合股東和員工最大利益的審慎基礎上進行投資。

  • If I may add 2 quick comments to what Remo said, with very high gross margins and unit economics, it becomes easier for us to invest in businesses. Secondly, the hiring environment has -- is actually getting easier. We are hearing of high-flying companies that raise funding and multibillion-dollar valuations last year, they're starting to lay off people or freeze hiring, and companies that are spending to grow at any cost are now starting to slow down. So we will keep on accelerating our plan because our customers want to leverage Zscaler. To accelerate their transformation because they want to be competitive NHI.

    如果我可以對 Remo 所說的內容添加 2 條快速評論,由於毛利率和單位經濟效益非常高,我們投資企業變得更加容易。其次,招聘環境實際上變得更容易了。我們聽說去年籌集資金和估值數十億美元的高飛公司,他們開始裁員或凍結招聘,不惜一切代價實現增長的公司現在開始放緩。因此,我們將繼續加快我們的計劃,因為我們的客戶希望利用 Zscaler。加速他們的轉型,因為他們想成為有競爭力的 NHI。

  • Hamza Fodderwala - Morgan Stanley, Research Division

    Hamza Fodderwala - Morgan Stanley, Research Division

  • And next, we have Matt Hedberg of RBC Capital Markets.

    接下來是加拿大皇家銀行資本市場的 Matt Hedberg。

  • Matthew Hedberg - RBC Capital Markets, Research Division

    Matthew Hedberg - RBC Capital Markets, Research Division

  • Congrats. Jay, what really stood out to me was the success in large deals and multiproduct sales. I think especially impressive given the partner momentum in some of these large deals. Can you talk about the importance of hyperscalers? I believe you called out on an 8-figure deal. Is there more -- is there even more that you guys can do to drive even faster partner contribution? Because it really does feel like that flywheel is really kicking in well?

    恭喜。傑伊,真正讓我印象深刻的是在大宗交易和多產品銷售方面的成功。考慮到其中一些大型交易中的合作夥伴勢頭,我認為尤其令人印象深刻。你能談談超大規模的重要性嗎?我相信你呼籲達成 8 位數的交易。還有更多——你們可以做更多的事情來推動更快的合作夥伴貢獻嗎?因為它真的感覺飛輪真的踢得很好?

  • Bill Choi;SVP, IR

    Bill Choi;SVP, IR

  • Yes. So the partner momentum comes from 2 sides. One is partners like Microsoft, who have been helping us even without fulfilling through marketplace. That momentum has been leveraged for the last several years. Now it has extended over AWS quite a bit. So that's 1 area. The second area is being able to deliver orders through cloud marketplace. It is 1 more channel for us to revenue. Our business through both AWS and Azure has been steadily growing, and these current viewed as a part of a clone transformation solution. So when it's focal through a marketplace channel, it often comes out of an annual cloud spend that's already committed by the customer with a hyperscaler. So that makes it actually easier in many ways.

    是的。所以合作夥伴的動力來自兩個方面。一個是像微軟這樣的合作夥伴,即使沒有通過市場實現,他們也一直在幫助我們。在過去的幾年裡,這種勢頭一直被利用。現在它已經在 AWS 上擴展了很多。所以這是1個區域。第二個領域是能夠通過雲市場交付訂單。這是我們獲得收入的另外一個渠道。我們通過 AWS 和 Azure 開展的業務一直在穩步增長,這些目前被視為克隆轉換解決方案的一部分。因此,當它通過市場渠道成為焦點時,它通常來自客戶已經承諾的超大規模客戶的年度雲支出。因此,這實際上在許多方面更容易。

  • In Q3, with 1 of our largest deals through AWS marketplace. And if you recall, we did a very large deal last quarter through Azure Marketplace, and we are training AWS and Microsoft sales teams. And I think there's a good opportunity to create more leverage. And these are generally larger deals. So you've seen our momentum in larger deals in the last 2 quarters, we have added almost 80 Global 2000 companies to our portfolio. I mean that's pretty remarkable, and we don't see any slowdown.

    在第三季度,我們通過 AWS 市場完成了一項最大的交易。如果你還記得,我們上個季度通過 Azure Marketplace 做了一筆非常大的交易,我們正在培訓 AWS 和 Microsoft 銷售團隊。我認為這是一個創造更多影響力的好機會。這些通常是較大的交易。因此,您已經看到了我們在過去 2 個季度進行大宗交易的勢頭,我們已將近 80 家全球 2000 強公司添加到我們的投資組合中。我的意思是這非常了不起,而且我們沒有看到任何放緩。

  • Operator

    Operator

  • Next, we have Patrick Colville of Deutsche Bank.

    接下來是德意志銀行的帕特里克科爾維爾。

  • Patrick Edwin Colville - Deutsche Bank AG, Research Division

    Patrick Edwin Colville - Deutsche Bank AG, Research Division

  • Thank you so much for having me on and Echo, everyone else's congratulations on a very impressive set of numbers. My question is on the billings guide, which to me was probably the standout metric of the quarter. So I think above probably where many investors were expecting. So very healthy there. Can you just talk to what you guys are seeing in the pipes for fiscal fourth quarter and the health that I guess you underline the confidence to give that strong billings guidance for the fiscal year.

    非常感謝您讓我和 Echo 參與其中,其他所有人都祝賀您獲得了一組非常令人印象深刻的數字。我的問題是關於賬單指南,對我來說這可能是本季度的突出指標。所以我認為上面可能是許多投資者所期望的。那裡非常健康。你能否談談你們在第四財季的管道中看到的情況以及我猜你強調的信心,以便為本財年提供強有力的比林斯指導。

  • Remo Canessa - CFO

    Remo Canessa - CFO

  • Yes. I'll start it. And Jay, if you'd like to contribute anything. We have a strong pipeline. As we talked about, we're becoming more strategic. Our deal sizes are getting bigger. We review our pipeline with our sales organization. And based on our projections, we did give a strong guide, Patrick, which is basically up 6%, basically guide up. The key thing is that with the world that's changed with in this way for a while with applications in the cloud and users removal and workloads both in the cloud and on-prem and other locations, platform Zscaler created really addresses this market head on.

    是的。我會開始的。傑伊,如果你想貢獻任何東西。我們有一個強大的管道。正如我們所說,我們正變得更具戰略性。我們的交易規模越來越大。我們與銷售組織一起審查我們的管道。根據我們的預測,我們確實給出了一個強有力的指導,帕特里克,基本上上漲了 6%,基本上是向上指導。關鍵是,隨著世界以這種方式發生了一段時間的變化,雲中的應用程序和用戶刪除以及雲和本地和其他位置的工作負載,Zscaler 創建的平台真正解決了這個市場。

  • Also, the efficiency that we create for customers at a very attractive ROI. It's really what stands out. And so we're seeing with large customers that adopting more of the platform, as Jay has talked about, we're seeing that. So it is basically a review of the pipeline and review what we feel we're comfortable to guide to.

    此外,我們以非常有吸引力的投資回報率為客戶創造的效率。這真的很突出。因此,正如傑伊所說,我們看到大客戶採用了更多的平台,我們看到了這一點。因此,它基本上是對管道的審查,並審查我們認為可以引導的內容。

  • Hamza Fodderwala - Morgan Stanley, Research Division

    Hamza Fodderwala - Morgan Stanley, Research Division

  • Yes. So I think what Remo said, our projection is always take into account our pipeline, our customer engagements. But at a qualitative level, as I talked to lots and losses, CIOs and CSOs, I mean there is a sense of uncertainty out there. And they're beginning to think about how do I do my cost and complexity reduction by consolidation. And that's where we start becoming pretty important. And for that, customers are driving transformation. We help them with it. On top of that cyber is a big issue. So when you bring all these things together, we become more important for them, and they start a discussion with, Jay, what all security products and networking products can I replace with you? And now, we are able to actually talk about a bigger set of products that need to be removed, which actually leads to a bigger part of platform to be bought.

    是的。所以我認為雷莫所說的,我們的預測總是考慮到我們的管道,我們的客戶參與。但在定性層面上,當我與 CIO 和 CSO 交談時,我的意思是存在一種不確定感。他們開始考慮如何通過整合來降低成本和復雜性。這就是我們開始變得非常重要的地方。為此,客戶正在推動轉型。我們幫助他們。除此之外,網絡是一個大問題。所以當你把所有這些東西放在一起時,我們對他們來說變得更加重要,他們開始討論,傑伊,我可以用你代替所有的安全產品和網絡產品嗎?而現在,我們實際上可以談論需要刪除的更大的產品集,這實際上會導致更大的平台被購買。

  • Now on top of that, it's interesting to see certainly on the high-flying private start-up companies, which would talk about all kinds of different hiring, how many employees, all that stuff is getting tempered down. That means the unnecessary noise in the market, it's expected to slow down. And it's fascinating to see people calling us from those start-ups already. So we are bullish about the business.

    現在最重要的是,有趣的是,肯定會看到蓬勃發展的私人初創公司,它們會談論各種不同的招聘方式,有多少員工,所有這些東西都在緩和下來。這意味著市場上不必要的噪音,預計會放緩。很高興看到人們已經從這些初創公司給我們打電話。所以我們看好這個業務。

  • Operator

    Operator

  • Next, we have Joel Fishbein of Truist.

    接下來,我們有 Truist 的 Joel Fishbein。

  • Joel Fishbein - Truist Securities, Inc., Research Division

    Joel Fishbein - Truist Securities, Inc., Research Division

  • I'll echo the congrats on the great execution this quarter. Jay, I just want to ask about workload segmentation. It sounds like your -- I know it's early days. You're very excited about it and have some good uptake. I'm really interested in go-to-market around workload segmentation and actually IoT and OT. It doesn't seem like they're natural -- they have different buying centers inside of organizations than ZIA, ZPA and ZDX. Love to hear how you're going to plan to go to market there and increase deal sizes around those specific areas.

    我將對本季度的出色執行表示祝賀。 Jay,我只想問一下工作負載分割。這聽起來像你的 - 我知道現在還為時尚早。你對此感到非常興奮並且有一些很好的吸收。我對圍繞工作負載細分以及實際的 IoT 和 OT 的上市非常感興趣。看起來它們並不自然——它們在組織內部擁有與 ZIA、ZPA 和 ZDX 不同的採購中心。很想听聽您將如何計劃在那裡進行市場推廣並圍繞這些特定領域增加交易規模。

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

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

  • Good question. In Q2, we talked about how a number of our large customers are beginning to buy workloads, our zero trust of workloads, but at a small scale. This last quarter, we start to see them actually buying some very large orders in this area. So that's very encouraging now. In terms of the buyer and the products, the cloud protection products can be put in 2 broad buckets. One, what Gartner now called CNP is a collection of CSPM, CI and type of stuff. It's API-based security. It's a new area for everyone. It's a simple to build, and we have a very good offering in that space. We revamped our CNP offering, which we'll be launching at Zenith Live next month.

    好問題。在第二季度,我們談到了我們的一些大客戶如何開始購買工作負載,我們對工作負載的零信任,但規模很小。在上個季度,我們開始看到他們實際上在該領域購買了一些非常大的訂單。所以現在這非常令人鼓舞。就買家和產品而言,雲保護產品可以分為兩大類。一,Gartner 現在所說的 CNP 是 CSPM、CI 和其他類型的集合。它是基於 API 的安全性。這對每個人來說都是一個新領域。這是一個簡單的構建,我們在該領域提供了非常好的產品。我們改進了我們的 CNP 產品,我們將於下個月在 Zenith Live 推出。

  • And parallel with that is zero trust workload, which is taking ZIA and CPA technology and making it available for workloads because at flows need to talk to Internet that goes through ZIA engine. They need to talk to each other, which goes to ZPA engine. This is bringing zero trust to workloads.

    與此並行的是零信任工作負載,它採用 ZIA 和 CPA 技術並使其可用於工作負載,因為 at 流需要與通過 ZIA 引擎的 Internet 通信。他們需要互相交談,這會涉及到 ZPA 引擎。這為工作負載帶來了零信任。

  • Bringing the 2 together, in-line piece of it and API piece of it sets us apart from any other vendor in the market out there. Regarding buying centers, if you really look at it, if we were selling at a lower level, buying will be very different. No matter what you -- who buys the product, when it comes to security part, CECO is definitely involved. So our good relationship CECL are helping us with zero trust workload and cloud protection. Our relationship with Head of Networking are helping us because in the old world, you are extending your data center to cloud with all these dedicate link out there. The area, we are developing and building more relationship is the DevOps side of it. But since CECL relations are strong, it is helping us. We are not creating an overlay team, but we do have product (inaudible). You need overlay teams when you're selling point products at low level. When we have been selling platform at a high level, I don't need to overlay teams. I do need product specialists, which we are hiring to work with our broad sales team. Did that help?

    將兩者結合在一起,它的內聯部分和 API 部分使我們與市場上的任何其他供應商區分開來。關於購買中心,如果你真的看它,如果我們在較低的水平上銷售,那麼購買就會有很大的不同。無論您是誰——誰購買了產品,當涉及到安全部分時,CECO 肯定會參與其中。因此,我們的良好關係 CECL 正在幫助我們實現零信任工作負載和雲保護。我們與網絡主管的關係正在幫助我們,因為在舊世界中,您正在通過所有這些專用鏈接將您的數據中心擴展到雲。我們正在開發和建立更多關係的領域是 DevOps 方面。但由於 CECL 的關係很牢固,它正在幫助我們。我們沒有創建覆蓋團隊,但我們確實有產品(聽不清)。當您在低級別銷售點產品時,您需要覆蓋團隊。當我們一直在高水平銷售平台時,我不需要覆蓋團隊。我確實需要產品專家,我們正在招聘他們與我們廣泛的銷售團隊合作。那有幫助嗎?

  • Operator

    Operator

  • And next, we have Fatima Boolani of Citi.

    接下來是花旗的 Fatima Boolani。

  • Fatima Boolani - Citigroup Inc. Exchange Research

    Fatima Boolani - Citigroup Inc. Exchange Research

  • Remo, this one is for you. in Jay's script, a lot of anecdotes around the multi-land transactions in the 8-figure deal momentum in the $1 million customer momentum. So what I wanted to ask you was just from a booking standpoint, I think you've called out that you are seeing a bigger multi-year commitments from some of your customers. So we're certainly not seeing that impact on billings in terms of your invoicing duration. But I'm curious if you can comment or share any sort of observations on your backlog? And if there's any duration impact in there that we should be thinking about more critically?

    雷莫,這個是給你的。在周杰倫的劇本中,很多軼事都圍繞著多地交易中的 8 位數交易勢頭在 100 萬美元的客戶勢頭。所以我想問你的只是從預訂的角度來看,我想你已經說過你看到一些客戶做出了更大的多年承諾。因此,就您的發票期限而言,我們當然不會看到對帳單的影響。但是我很好奇您是否可以評論或分享對您的積壓工作的任何觀察?如果那裡有任何持續時間的影響,我們應該更批判地思考?

  • Remo Canessa - CFO

    Remo Canessa - CFO

  • Yes. That's a great question. If you take a look at our RPO and CRPO growth on a year-over-year basis. Those are committed deals. Our RPO growth was 83% and our CRPO growth was 75% . Related to duration, the duration was comparable on a year-over-year basis. There's no headwinds. We expect duration to be in that 10 to 14 months range. So I mean, the key things from billings. Billings is calculated billings, which is calculated off of deferred revenue. So that's what we actually build. But we look at the RPO and CRPO growth rates, RPO is 83% and CRPO at 75% growth rate on a year-over-year basis.

    是的。這是一個很好的問題。如果您查看我們的 RPO 和 CRPO 同比增長。這些是承諾的交易。我們的 RPO 增長為 83%,我們的 CRPO 增長為 75%。與持續時間相關,持續時間與去年同期相比具有可比性。沒有逆風。我們預計持續時間在 10 到 14 個月的範圍內。所以我的意思是,比林斯的關鍵問題。帳單是計算帳單,它是從遞延收入中計算出來的。所以這就是我們實際構建的。但我們看一下 RPO 和 CRPO 的增長率,RPO 為 83%,CRPO 同比增長率為 75%。

  • Now having said that, even though those metrics are outstanding, we still feel that billings is the best measure for Zscaler because we found that duration period from 10 to 14 months. That's -- so I hope that answers your question. I believe that answers your question. But the actual commitment that customers are making to Zscaler is quite impressive.

    話雖如此,儘管這些指標非常出色,但我們仍然認為 billings 是 Zscaler 的最佳衡量標準,因為我們發現持續時間為 10 到 14 個月。那是 - 所以我希望這能回答你的問題。我相信這回答了你的問題。但客戶對 Zscaler 的實際承諾令人印象深刻。

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

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

  • And Remo, if I may add one thing. This is an outstanding quarter from lots of customers doing multi-product pillar deal for multi-years, which is very exciting.

    還有雷莫,如果我可以補充一件事。這是一個出色的季度,許多客戶多年來都在做多產品支柱交易,這非常令人興奮。

  • Operator

    Operator

  • Next question comes from Ben Bollin of Cleveland Research.

    下一個問題來自 Cleveland Research 的 Ben Bollin。

  • Benjamin Bollin - Cleveland Research Company LLC

    Benjamin Bollin - Cleveland Research Company LLC

  • Good afternoon, I wanted to go back to the topic around cloud marketplaces. Remo, can you quantify how much of the business is being transacted over cloud marketplaces today or how that has evolved? And then also interested in any way we should think about the margin implications of that business versus other sales channels?

    下午好,我想回到關於雲市場的話題。 Remo,您能否量化今天有多少業務通過雲市場進行交易,或者它是如何發展的?然後還對我們應該考慮該業務與其他銷售渠道的利潤率影響的任何方式感興趣?

  • Remo Canessa - CFO

    Remo Canessa - CFO

  • Yes. I mean not much business currently going through cloud new marketplace. There is business going through, but we see that as a very important channel for us. And related to margin, we expect good margins through a flat marketplace.

    是的。我的意思是目前通過雲新市場的業務不多。有業務通過,但我們認為這對我們來說是一個非常重要的渠道。與利潤率相關,我們預計通過平坦的市場可以獲得良好的利潤率。

  • Jay, if you want to?

    傑,如果你願意?

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

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

  • Yes. But one thing that business through cloud marketplaces has been steadily growing over time. So that is very good. For us, I don't think the driver is what's the fulfillment channel for us. I personally care about partners who actually helped me with strategic sales to the customer. When Microsoft accounting cancer able to sit together with the CIO and talk through a large deal. It is extremely useful. But it does help to get cloud hyperscaler sales team more engaged because they actually do compensate it for the business that flows through the channel part -- through cloud marketplace. So we actually are putting more focus on training AWS and Microsoft sales team, so which helps them and helps us.

    是的。但是,隨著時間的推移,通過雲市場開展的業務一直在穩步增長。所以這是非常好的。對我們來說,我不認為驅動程序是我們的履行渠道。我個人關心那些真正幫助我向客戶進行戰略銷售的合作夥伴。當微軟會計癌症能夠與CIO坐在一起談論大筆交易時。它非常有用。但它確實有助於讓雲計算超大規模銷售團隊更加投入,因為他們實際上確實補償了通過渠道部分流動的業務——通過雲市場。因此,我們實際上將更多的精力放在培訓 AWS 和 Microsoft 銷售團隊上,這對他們和我們都有幫助。

  • Operator

    Operator

  • And next, we have Tal Liani of Bank of America.

    接下來是美國銀行的 Tal Liani。

  • Tal Liani - BofA Securities, Research Division

    Tal Liani - BofA Securities, Research Division

  • I have 2 questions. One, in general, but I'm trying -- I get this question along from investors. I'm trying to understand economic slowdown, what's the impact on your business? It's a little bit of a philosophical question, but it's a question we're being asked a lot, and I would like to hear your view on this topic.

    我有 2 個問題。一,一般來說,但我正在嘗試 - 我從投資者那裡得到這個問題。我試圖了解經濟放緩,對您的業務有何影響?這是一個哲學問題,但我們經常被問到這個問題,我想听聽你對這個話題的看法。

  • And second, we are at times of focus on cash flow and margins. And I look at your operating margin in the last 4 quarters, -- it went down from 13% to 8.7% in the previous quarter, this quarter slightly recovered. And at the same time, your revenues went up by 50%, give or take. So we don't see much leverage on the margin. And the question is if I pass forward 2 to 3 years, if I think about margin leverage and what needs to happen for you to have serious margin upside. Can you talk about the pros and cons of your operating margin?

    其次,我們有時會關注現金流和利潤率。我看看你們過去四個季度的營業利潤率——從上一季度的 13% 下降到 8.7%,本季度略有回升。與此同時,你的收入增長了 50%,不管是給予還是接受。所以我們看不到保證金的槓桿作用。問題是我是否將時間提前 2 到 3 年,如果我考慮保證金槓桿以及需要發生什麼才能讓您獲得嚴重的保證金上漲空間。您能談談您的營業利潤率的優缺點嗎?

  • Remo Canessa - CFO

    Remo Canessa - CFO

  • I'll start with that. We absolutely do have leverage in the model. In a SaaS model with 80% gross margin, growing at the scale that we're growing we absolutely have no leverage. What we talked about is that with this large market opportunity, it would be a disservice to our shareholders and our employees if we try to drive top line operating profitability at this stage.

    我將從那開始。我們在模型中絕對有影響力。在毛利率為 80% 的 SaaS 模式中,以我們正在增長的規模增長,我們絕對沒有任何影響力。我們談到的是,在這個巨大的市場機會下,如果我們在現階段試圖提高最高運營盈利能力,將對我們的股東和員工造成傷害。

  • Having said that, when you take a look at our free cash flow margin last year, it was around 20% or over 20%. And we're projecting free cash flow margin this year at 20%. So when you have that kind of free cash flow margin at the scale that we are, making the investments that we're making in the position that we are as a company in this very large market, there's no better use of our cash for our resources than investing in the business and really executing and trying to drive our top line growth. Having said that, we will be mindful, we will be mindful.

    話雖如此,當您查看我們去年的自由現金流量利潤率時,它約為 20% 或超過 20%。我們預計今年的自由現金流利潤率為 20%。因此,當您擁有我們這樣規模的自由現金流量,並在我們作為一家公司在這個非常大的市場中所處的位置進行投資時,我們的現金再好不過了。資源而不是投資於業務並真正執行並努力推動我們的收入增長。話雖如此,我們將保持正念,我們將保持正念。

  • If we wanted to drive operating profitability, it doesn't take much. But with our free cash flow margin where it is, we're very, very comfortable. Now from an economic slowdown perspective, Security is important. Companies basically are knocking out the attacks are going to keep coming, and they're probably going to increase.

    如果我們想提高運營盈利能力,並不需要太多。但是,憑藉我們的自由現金流量利潤率,我們非常非常舒服。現在從經濟放緩的角度來看,安全很重要。公司基本上正在消除攻擊,這些攻擊將繼續發生,而且可能會增加。

  • Also, companies going through this downturn have to find areas to save money. We are efficient. Our ROI is absolutely outstanding. It is significant ROI with the highest level of security down to the deepest level. And so from an economic slowdown perspective, we are not seeing it currently. Now can that change? It can. But right now, based on our pipeline, based on what we're seeing, and what we talked about, we're going to continue to hire at pace.

    此外,經歷這次低迷的公司必須尋找節省資金的領域。我們有效率。我們的投資回報率絕對出色。它具有最高級別的安全性,直至最深級別,具有顯著的投資回報率。因此,從經濟放緩的角度來看,我們目前還沒有看到。現在可以改變嗎?它可以。但是現在,根據我們的管道,根據我們所看到的以及我們談論的內容,我們將繼續按節奏招聘。

  • Jay and I, as I mentioned before, have a lot of experience. We've been -- we've seen the 3 downturns -- 3 or 4 downturns actually in our lifetime or careers. Zscaler is different. -- and we feel we're in a great position. We will take things into account all things but -- and driving operating profitability at this stage, it's really -- we will increase operating profitability as we go. But we're going to be also trying to drive that top line growth. Jay?

    正如我之前提到的,傑伊和我有很多經驗。在我們的一生或職業生涯中,我們已經——我們已經看到了 3 次經濟衰退——實際上是 3 次或 4 次經濟衰退。 Zscaler 是不同的。 ——我們覺得我們處於一個很好的位置。我們將考慮所有因素,但 - 在這個階段推動運營盈利能力,真的 - 我們將隨著我們的發展增加運營盈利能力。但我們也將努力推動收入增長。傑?

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

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

  • Yes. Two quick comments. First of all, I do believe there's uncertainties helping us because we are going to help customers with cost reduction and complexity reduction. And on the other side, our flagship CIC products, they have reached significant scale and are generating good margins. But we are reinvesting that to drive the growth of new products. We have proven that when we brought CPA on, we made it successful. We've seen -- we brought ZD Exxon. We're making it successful. It's growing even faster than ZPA did, and we have high expectations from workload protection as well.

    是的。兩個快速評論。首先,我確實相信不確定性對我們有幫助,因為我們將幫助客戶降低成本和降低複雜性。另一方面,我們的旗艦 CIC 產品已經達到了相當大的規模並產生了可觀的利潤。但我們正在重新投資以推動新產品的增長。我們已經證明,當我們引入 CPA 時,我們取得了成功。我們已經看到——我們帶來了 ZD 埃克森美孚。我們正在使它成功。它的增長速度甚至比 ZPA 還要快,而且我們對工作負載保護也寄予厚望。

  • So I think with such a large platform, we expect that we'll keep on growing fairly efficiently.

    所以我認為有了這麼大的平台,我們希望我們能繼續相當有效地增長。

  • Operator

    Operator

  • Our next question comes from Roger Boyd of [USB] (UBS) Securities.

    我們的下一個問題來自 [USB] (UBS) Securities 的 Roger Boyd。

  • Roger Boyd - UBS Investment Bank, Research Division

    Roger Boyd - UBS Investment Bank, Research Division

  • Congrats on the results. Just a quick question on SD-WAN. Historically, you've had some success tied to adoption there. I know Zscaler agnostic to how customers ultimately onboard to the Zero Trust Exchange. But with some of the SD-WAN vendors facing some disruption in share losses and potential change of ownership. How do you think about those changes in terms of potential opportunities or risks?

    祝賀結果。只是一個關於 SD-WAN 的快速問題。從歷史上看,你已經取得了一些與那裡的採用相關的成功。我知道 Zscaler 不知道客戶最終如何加入零信任交換。但由於一些 SD-WAN 供應商面臨份額損失和所有權潛在變更方面的一些中斷。您如何看待這些變化帶來的潛在機遇或風險?

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

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

  • Yes. Before COVID came in, Zscaler used to start with, let's do network transformation. When COVID started 2.5 years ago, (inaudible) went out the door, there's nobody working in the branch office and customers start to roll out Zscaler by downloading a lightweight agent and here it goes. So with that, the role of any network or SD-WAN became really insignificant.

    是的。在 COVID 出現之前,Zscaler 曾經開始,讓我們做網絡改造。當 2.5 年前 COVID 開始時,(聽不清)走出了大門,分支機構中沒有人工作,客戶開始通過下載輕量級代理來推出 Zscaler,就這樣。因此,任何網絡或 SD-WAN 的作用都變得非常微不足道。

  • Today, most of our customers roll it out or lapped our mobile with a lightweight agent they can work from home, they can work from office with SD-WAN, without SD-WAN. So we'll stay neutral to supporting SD-WAN vendors. Our sales processes are no longer led by SD-WAN. If a customer sales on rolling on SD-WAN, we are generally the preferred choice, and that's how we see it. So we don't really see any changes in the SD-WAN marketplace impacting us.

    今天,我們的大多數客戶推出或使用輕量級代理在我們的移動設備上安裝他們可以在家工作的輕量級代理,他們可以使用 SD-WAN 在辦公室工作,而無需 SD-WAN。因此,我們將對支持 SD-WAN 供應商保持中立。我們的銷售流程不再由 SD-WAN 主導。如果客戶在 SD-WAN 上滾動銷售,我們通常是首選,這就是我們的看法。因此,我們並沒有真正看到 SD-WAN 市場的任何變化對我們產生影響。

  • Operator

    Operator

  • Our next question comes from Joshua Tilton of Wolfe Research.

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

  • Joshua Tilton - Wolfe Research, LLC

    Joshua Tilton - Wolfe Research, LLC

  • I don't believe you mentioned it in the prepared remarks, but can you talk about any impact to the business you're seeing either positive or negative from the Russia Ukraine prices?

    我不相信你在準備好的評論中提到了它,但你能談談你看到的俄羅斯烏克蘭價格對業務的任何影響嗎?

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

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

  • Yes. Russia, Ukraine. It was a bigger thing a quarter ago. I decided years ago not to sell in Russia. Hence, we do not have any revenue exposure in Russia or Ukraine, but cybersecurity is a global threat. It's not a regional at -- our threat research team is tracking heightened cyber cat environment, which is making every CIO and CECL more nervous in this area. So this is driving the adoption of zero trust architecture and it is increasing our engagement with customers. More so in Europe, actually European customers are more worried about it while Americans are, too. So we have some very large deals in Europe this quarter, including a couple of them I highlighted. We don't really see any negative impact of this conflict -- and we remain engaged with our customers to drive the transformation. They want to become agile, competitive player role there and then cyber on top of that. So I don't see any negative impact.

    是的。俄羅斯、烏克蘭。四分之一前這是一件更大的事情。幾年前我決定不在俄羅斯銷售。因此,我們在俄羅斯或烏克蘭沒有任何收入敞口,但網絡安全是一個全球威脅。這不是一個區域性的——我們的威脅研究團隊正在跟踪高度化的網絡貓環境,這讓每個 CIO 和 CECL 在這個領域更加緊張。因此,這推動了零信任架構的採用,並增加了我們與客戶的互動。在歐洲更是如此,實際上歐洲客戶更擔心它,而美國人也一樣。因此,本季度我們在歐洲有一些非常大的交易,包括我強調的其中一些。我們並沒有真正看到這場衝突的任何負面影響——我們仍然與客戶合作以推動轉型。他們希望在那裡成為敏捷、有競爭力的玩家角色,然後在此之上成為網絡。所以我沒有看到任何負面影響。

  • Operator

    Operator

  • The next question shall come from Rob Owens of Piper Sandler.

    下一個問題將來自 Piper Sandler 的 Rob Owens。

  • Robbie Owens - Piper Sandler & Co., Research Division

    Robbie Owens - Piper Sandler & Co., Research Division

  • I wonder if you guys could drill into the Siemens partnership a little bit. And I guess, Jay, more broadly, what you see as the opportunity in OT from where you sit?

    我想知道你們是否可以深入了解西門子的合作夥伴關係。我猜,Jay,更廣泛地說,你在 OT 中看到的機會是什麼?

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

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

  • OT plants and factories have been slow in changing typically plans take their own time, but all these critical infrastructure attacks and some threats have made it a priority. Vendors like Sims are big providers of 4P systems out there. They see this as an opportunity for really providing or should I say, taking fiber and PPN based security of OT systems to 0 trust-based security, where you no longer connect these OT networks and IT networks where you no longer need remote VPN to act the systems. So Siemens has worked with us over the last year or so. They essentially shows us as a partner, we did joint development where we made our technology available on their hardened systems, and this combined solution of Siemens and ours is not available through our customers (inaudible) I think it's a good opportunity for us. I think it's a matter of time when all IoT OP systems will embrace zero trust, and we are positioned well for that opportunity.

    OT 工廠和工廠在改變計劃方面一直很緩慢,通常需要自己的時間,但所有這些關鍵的基礎設施攻擊和一些威脅已使其成為優先事項。像 Sims 這樣的供應商是 4P 系統的大供應商。他們認為這是一個真正提供的機會,或者我應該說,將基於光纖和 PPN 的 OT 系統安全性降低到 0 基於信任的安全性,您不再需要連接這些 OT 網絡和 IT 網絡,您不再需要遠程 VPN 來採取行動系統。因此,西門子在過去一年左右的時間裡一直與我們合作。他們基本上向我們展示了作為合作夥伴的身份,我們進行了聯合開發,在他們的強化系統上提供了我們的技術,而西門子和我們的這種組合解決方案無法通過我們的客戶獲得(聽不清)我認為這對我們來說是一個很好的機會。我認為所有 IoT OP 系統都將接受零信任只是時間問題,我們已經為這個機會做好了準備。

  • Operator

    Operator

  • And this concludes today's Q&A session. I would turn the conference back over to your CEO, Jay Chaudhry, for closing remarks.

    今天的問答環節到此結束。我會將會議轉回給你們的首席執行官 Jay Chaudhry 來做閉幕詞。

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

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

  • Thank you. I want to thank you all for your continued interest in Zscaler. I also want to thank Zscaler employees, customers and partners for delivering a strong quarter. We look forward to seeing many of you at Zscaler Live, our Annual Cloud Summit. Thank you.

    謝謝你。我要感謝大家對 Zscaler 的持續關注。我還要感謝 Zscaler 員工、客戶和合作夥伴提供了一個強勁的季度。我們期待在我們的年度雲峰會 Zscaler Live 上見到你們中的許多人。謝謝你。

  • Bill Choi;SVP, IR

    Bill Choi;SVP, IR

  • Thank you.

    謝謝你。

  • Operator

    Operator

  • This concludes today's conference call. Thank you all for participating. You may now disconnect, and have a pleasant day.

    今天的電話會議到此結束。謝謝大家的參與。您現在可以斷開連接,度過愉快的一天。