Zoom has reported stronger-than-expected financial results for Q1 2023 ended 30 April 2022, revealing a 12 percent increase in total revenue to $1.073bn.
For the first quarter, Zoom’s GAAP income from operations was $187.1m and GAAP operating margin was 17.4 percent.
The company reported non-GAAP net income per share of $1.03.
At the end of Q1 2023, Zoom had 198,900 enterprise customers, up 24 percent from the same quarter last fiscal year. The number of Zoom customers contributing more than $100,000 in trailing 12 months revenue increased 46 percent year-on-year.
Eric S. Yuan, Zoom founder and CEO, said: “In Q1, we launched Zoom Contact Center, Zoom Whiteboard and Zoom IQ for Sales, demonstrating our continued focus on enhancing the customer experience and promoting hybrid work. We believe these innovative solutions will further expand our market opportunity for future growth and expansion with customers.
“Additionally, in Q1, we delivered revenue of over one billion dollars driven by ongoing success in Enterprise, Zoom Rooms, and Zoom Phone, which reached 3m seats during the quarter. We also maintained strong profitability and cash flow, including 17 percent in GAAP operating margin, approximately 37 percent non-GAAP operating margin, approximately 49 percent operating cash flow margin, and over 46 percent adjusted free cash flow margin.”
For Q2 fiscal year 2023, Zoom is expecting total revenue of between $1.115bn and $1.120bn. For the full fiscal year 2023, the company is anticipating total revenue of between $4.53bn and $4.55bn.