Zoom Communications, Inc.

Well, hello, everyone, and welcome to Zoom's Q3 FY25 earnings release webinar. As a reminder, today's webinar is being recorded. And now I will hand things over to Charles F. Schlage, head of investor relations. Charles, over to you.

Thank you, Kelsey. Hello, everyone, and welcome to Zoom's earnings video webinar for the third quarter of fiscal year 2025. I'm joined today by Zoom's Thondrin CEO, Eric Yuan, and Zoom's CFO, Michelle Chang. Our earnings release was issued today after the market closed and may be downloaded from the investor relations page at investors.zoom.us. Also, on this page, you'll be able to find a copy of today's prepared remarks and a slide deck with financial highlights that, along with our earnings release, include a reconciliation of GAAP to non-GAAP financial results. These measures should not be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP. During this call, we will make forward-looking statements, including statements regarding our financial outlook for the fourth quarter and full fiscal year 2025, our expectations regarding financial and business trends, impacts from the macroeconomic environment, our market position, stock repurchase program, opportunities, go-to-market initiatives, growth strategy, and business aspirations. and product initiatives, including feature product and feature releases, and the expected benefits of such initiatives. These statements are only predictions that are based on what we believe today and actual results may differ materially. These forward-looking statements are subject to risks and other factors that could affect our performance and our financial results, which we discuss in detail in our filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q. Zoom assumes no obligation to update any forward-looking statements we may make on today's webinar. And with that, let me turn the discussion over to Eric.

Thank you, Charles. Thank you, everyone, for joining us today. In early October, we hosted Zoomtopia, our annual customer and innovation event, and it was an amazing opportunity to showcase all that we have been working on for our customers. We had record-breaking virtual attendance and unveiled our new vision, AI-first work platform for human connection. This update marks an exciting milestone as we extend our strengths as a unified communication and collaboration platform into becoming an AI-first work platform. Our goal is to empower customers to navigate today's work challenges, streamline information, prioritizing tasks, and making smart use of time. At Zoomtopia, we took meaningful steps towards data vision with the release of AI company 2.0, further showcasing all the things that customers have come to expect from Zoom. A breakneck pace of innovation, customer obsession, and reliable, easy-to-use products. This release builds upon the awesome quality of Zoom AI Companion 1.0 across features like meeting summary, meeting query, and smart compose, and brings it together in a way that evolves beyond task-specific AI towards agentic AI. This major update allows the AI Companion to see a broader window of context. synthesize information from internal and external sources, and orchestrate action across the platform. AI company 2.0 raises the bar for AI and demonstrates to customers that they understand their needs. They want AI to enhance their existing workflows, not disrupt them. They want AI to deliver exceptional results for their entire teams, and they want to experience the value firsthand before incurring additional spend. We highlighted many customers at Zoomtopia. Pranity Laquara, CIO of Zscaler, provided a great example of how Zoom AI company helped democratize AI and enhance productivity across the organization. without sacrificing security and privacy. And it wasn't just this scale. The RealReal, HSBC, ExxonMobil, and Lake Flatto architects shared similar stories about Zoom's secure, easy-to-use solutions, helping them thrive in the age of AI and flexible work. Building on our vision for democratizing AI, we introduced a roadmap of time-expanding AI products that create additional business value through customization, personalization, and alignment to specific industries or use cases. Customer AI Companion add-on, which will be released in the first half of next year, aims to meet our customers where they are in their AI journey by plugging into knowledge bases, integrating with third-party apps, and personalizing experiences like customer AI avatars and AI coaching. Additionally, we announced that we also have customer AI company paid add-ons for healthcare and education available as early as the first quarter of next year. These AI-first industry tailored solutions will build upon the remarkable traction and customer love we have in these industries and allow us to deliver AI solutions that meet their customers' unique needs from the lecture hall to the doctor's office. We also announced Zoom Workplace for Frontline Workers, available in the first half of 2025, with the goal of extending our success in Zoom Workplace further into the extremely large but underserved frontline worker market. We will first target frontline rich industries where we have a strong install bits, and have gained substantial learnings such as retail, healthcare, and manufacturing. This mobile-centric solution will address the unique work style of frontline workers with features like data companion generated, shift summaries, on-shift communications, work management, insights, and more. Contact Center and Workvivo are key pillars of our strategy to extend from our core strengths into natural adjacencies. And I'm very pleased to share that both had amazing orders. We secured our largest ever Contact Center customer at over 20,000 seats. demonstrating our ability to compete at the high end, expand further into the email market, and win with the channel. In fact, our top four Cardiac Center deals in the quarter came from the channel, which speaks to our progress leveraging this amazing resource to extend our success across geographies and industries. We also saw incredible traction with Workvivo as we landed three net new Workvivo customers with over $1 million in ARR, including the largest deal to date with a Fortune 10 company. We are very happy to see that both Contact Center and Workvivo benefit as a natural upsell to our massive base of Zoom Workplace customers. And we are encouraged to see these products bringing brand new customers to Zoom and become beachheads for Zoom workplace to expand. The success of this bi-directional land and expand motion demonstrates our better together platform vision is resonating well with customers looking for a full AI-first work platform, bridging the worlds of customers and employee experience. Now, let me recognize some of our amazing customers. Thank you Agencia Tributaria, Spain's national revenue service, for their extraordinary expansion in Q3. Over two years ago, Agencia, like many other customers, became convinced of the constraints of their on-prem phone system and deployed 30,000 Zoom phone sets. After Zoom Phone rapidly delivered value at scale to enhance efficiency and service quality during a demanding tax season in 2022, they moved to consider our total experience. Omni-channel solutions to further elevate their taxpayer services. This resulted in an incredible record-setting Zoom Accounting Center deal with over 20,000 seats. in conjunction with Zoom Workplace delivering a complete Zoom experience for both employees and taxpayers. Thank you, Agencia, for your trust and partnership. Thank you for ServiceNow, the AI platform for business transformation for expanding its relationship with Zoom. Already a power user of Zoom Workplace, in Q3, ServiceNow adopted Workvivo and expanded its Zoom phone footprint. As announced at Zoomtopia, we are deepening the integration of ServiceNow's Now Assist with Zoom AI Company to boost our generative AI product offerings and deliver advanced workflow synergies for our customers. It was an honor having Chairman and CEO Bill McDermott, who is also a member of Zoom's Board of Directors, Join us at Zoomtopia. Thanks Bill. We look forward to continuing our strong partnership. Let me also thank Redpin, a leading international fintech and property tech company, for choosing Zoom. They keep to us as a brand new customer through a trusted channel partner and identified Zoom as the best solution to transform the way we engage customers with their innovative property payments software and services. Reliving opportunity for the Zoom total experience, including Zoom Congress Center Elite, Zoom Revenue Accelerator, and Zoom Workplace Business Plus in order to enhance customer experience, elevate agent productivity and happiness, and realize major cost efficiencies from streaming line operations. Finally, let me thank Athena Health a leading provider of network-enabled software and services for medical practice and health systems, for integrating Zoom's meeting SDK into their Athena 1 electronic health record. By leveling Zoom's cutting-edge video technology, Athena Health is empowering its network of over 160,000 providers to deliver seamless virtual care through telehealth. We're so pleased to see more customers adopting our Zumba workplace and business services products in order to reap the benefits of our modern natively integrated AI powered technologies. Before handing it off to Michelle, I'm very excited to share that earlier today we announced our new corporate name, Zoom Communications Inc. This change reflects our evolution into an AI-first work platform for human connection and our vision for long-term growth. Now, over to our new CFO, Michel Chang. Thank you.