{ "docId": "019dd923-5eff-723e-9be6-1be5230ba89a", "docSlug": "90e0333bef4cf01c", "documentTitle": "2025 Q3FY25 Earnings Call", "authorId": "Zscaler", "authorName": "Zscaler", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.778, "pageNumber": 23, "pageCount": 26, "prevPage": 22, "nextPage": 24, "slideType": "appendix_disclosure", "function": "other", "density": "dense", "nDataPoints": 0, "notes": "Standard corporate financial disclosure slide.", "elementsJson": [ "paragraph", "bullet_list", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5eff-723e-9be6-1be5230ba89a/23", "deckHref": "/decks/019dd923-5eff-723e-9be6-1be5230ba89a", "deckJsonHref": "/decks/019dd923-5eff-723e-9be6-1be5230ba89a.json", "deckAnchorHref": "/decks/019dd923-5eff-723e-9be6-1be5230ba89a#slide-23", "components": [ { "bbox": { "h": 0.15, "w": 0.4, "x": 0.03, "y": 0.75 }, "kind": "list", "text": "Key Non-GAAP Financial Measures Included within this Presentation: Non-GAAP Gross Profit and Non-GAAP Gross Margin; Non-GAAP Income from Operations and Non-GAAP Operating Margin; Non-GAAP Net Income and Non-GAAP Net Income per Share; Free Cash Flow and Free Cash Flow Margin", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "236d2b8f-b955-4727-8a0c-aee720d03ddc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.94, "x": 0.03, "y": 0.53 }, "kind": "paragraph", "text": "Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "023af631-c281-4171-b204-cfe961c00eb5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.94, "x": 0.03, "y": 0.32 }, "kind": "paragraph", "text": "Expenses Excluded from Non-GAAP Measures: Stock-based compensation expense is excluded primarily because it is a non-cash expense that management believes is not reflective of our ongoing operational performance. Employer payroll taxes related to stock-based compensation, which is a cash expense, are excluded because these are tied to the timing and size of the exercise or vesting of the underlying equity incentive awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of our business. Amortization expense of acquired intangible assets and amortization of debt issuance costs from the convertible senior notes are excluded because these are non-cash expenses and are not reflective of our ongoing operational performance.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0789ca78-e51b-408b-9e7a-b83834305cbd", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.94, "x": 0.03, "y": 0.15 }, "kind": "paragraph", "text": "In addition to our results determined in accordance with generally accepted accounting principles in the United States of America (\"GAAP\"), we believe that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. However, non-GAAP financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures and key metrics as analytical tools. Investors are encouraged to review these reconciliations, and not to rely on any single financial measure to evaluate our business.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8a0cfab9-a210-487b-91bb-7e1e60b0f1e6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.03, "y": 0.94 }, "kind": "source-note", "text": "*Non-GAAP to GAAP reconciliations shown on the following slides.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cb59a9db-d0fe-401e-80d7-f2c57f6c049c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.03, "y": 0.05 }, "kind": "title", "text": "Explanation of Non-GAAP Financial Measures", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6eef2e0c-9bb7-4eba-8ed7-85664a991b11", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }