Zoom Communications, Inc.

Hello, everyone, and welcome to Zoom's Q4 FY25 earnings release webinar. I will now hand things over to Charles Eveslage, Head of Investor Relations. Charles, over to you.

Thank you, Kelsey. Hello, everyone, and welcome to Zoom's earnings video webinar for the fourth quarter and full fiscal year 2025. I'm joined today by Zoom's founder and CEO, Eric Yuan, and Zoom 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 first quarter and full fiscal year 2026, 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 future product and future 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 financial results, which we discuss in detail in our filings of 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. With that, let me turn the discussion over to Eric.

Thank you, Charles. Thank you, everyone, for joining us today. I-525 was an incredible year marked by major advancement in AI, the evolution of Zoom into an AI-first work platform, spanning phone, team chat, events, docs, and more, and a strong momentum in contact center and work available. A key highlight has been the rapid adoption of our AI capabilities. Growth in monthly active users of Zoom AI company accelerated to 68% quarter over quarter, demonstrating the real value AI is providing customers. Zoom AI Company has emerged as a driving force behind our transformation into an AI-focused company, enabling our customers to discover enhanced productivity opportunities. We are always looking ahead, moving forward, and reimagining what's possible to enable frictionless work. And now we look forward to helping our customers fully realize the benefits of agentic AI and discover what's possible with AI agents. As part of AI Companion 2.0, we added advanced agentic capabilities, including memory, reasoning, orchestration, and seamless integration with Microsoft and Google services. In April, we are launching Custom AI Companion Add-On to automate workplace tasks through custom agents. This will personalize AI to fit customer needs, connect with their existing data, and work seamlessly with their third-party tools. We are also enhancing Zoom Workplace for clinicians with an upgraded AI company that will enable clinical note-taking capabilities and specialized medical features for healthcare providers starting in March. Additionally, we are upgrading our business services by introducing more authentic capabilities. Zoom Virtual Agent will soon expand reasoning abilities to handle complex tasks while maintaining conversational context for more natural and helpful outcomes. We are uniquely positioned to succeed in Authentic AI for several reasons. Zoom is a system of engagement for our users with recent information in ongoing conversations. This exceptional context, along with user engagement, allows us to drive greater value for customers. Our federated AI approach lets us combine the best models for each task. We can use specialized small language models where appropriate, while leveraging large models for more complex reasoning, driving both quality and cost efficiency. Zoom is known for making complex technology simple for users. We manage the complexity of AI models while keeping the experience intuitive, powerful, and connected with popular third-party apps. We believe our strategic approach positions us favorably to help bring value to the customer. we are focused on delivering practical value while building toward an ambitious vision of AI that truly amplifies human potential for the customers. Our AI-first work platform continues to gain momentum, joined by our core strengths in meetings and expanding portfolio of integrated solutions such as phone, team chat, events, and Zoom docs, whiteboard, and Zoom rooms. We see this in the results. Zoom Workplace had a big win with Amazon in Q4. Within Zoom Workplace, Zoom Phone continues to see strong traction with both new customers and expansions. We build upon our strengths in retail, healthcare, and education, which delivered seven of our top 10 Zoom Phone deals this quarter. The recent Mitel partnership opens up access to Mitel's 70 million global end users and demonstrates how our open ecosystem approach is resonating with customers seeking flexible deployment models and choice. Zoom team chat continues to serve as a collaboration hub across our platform. The recent redesign of the sidebar has enhanced navigation and productivity, while our new workflow automation capabilities are driving deeper platform engagement. Beyond Zoom team chat, we are seeing encouraging adoption across our board portfolio. Zoom docs usage more than doubled quarter over quarter, together with Weibo, which was a customer's choice recipient in the 2024 Gartner Peer Insights Voice of the Customer report for virtual collaboration applications. Zoom team chat and Zoom docs are critical components of our AI-focused platform vision that expand our system of engagement and allow customers to do more with AI. Both Contact Center and Workvivo delivered exceptional results this quarter. In Contact Center, we achieved our largest ARR deal in history with a Fortune 100 US tech company for over 15,000 agents, demonstrating our ability to win and deliver for the most demanding enterprise customers. The number of contact center customers with over $100,000 in ARR grew over 100% year-over-year, with wins both displacing on-crime and leading CCaaS vendors. Our AI-first approach is resonating strongly. The majority of our deals are now in the higher-tier elite or premium packages, validating the power and customer appeal of our comprehensive AI and workforce engagement capabilities. Workvivo also had a record quarter driven by strength across all regions. The total number of Workvivo customers grew 89% year over year, accelerating from 79% in Q3. We've signed three deals over $1 million in ARR, each with major global brands. Our strategic partnership as a preferred migration partner for Meta Workplace has been a strong contributor to this momentum. These solutions are critical components of our AI-first work platform vision. Contact Center extends our platform from employee engagement to customer engagement, while WorkVivo broadens our employee collaboration to internal engagement and culture. Together, they exemplify our strategy of thoughtful expansion into high-growth areas where we can deliver differentiated value through our platform approach, AI leadership, and rapid innovation for the customer. As we look ahead to FY26, we are focused on our key strategic priorities, expanding our AI capabilities to drive customer value, rapidly innovating within Zoom Workplace, and building upon momentum in new products such as Contact Center and WorkVivo. Despite ongoing macro challenges and uncertainties, we are encouraged that our value proposition and total cost of ownership are gaining traction in the market. Our innovation engine is firing on all cylinders, our platform strategy is working, and we have significant opportunities and growth vectors to excel upon. Now, on top of the record-setting Conexant win I just highlighted, let me share some more amazing wins in Q4. We are excited to offer Zoom to Amazon employees and further strengthen our long-standing relationship with AWS as our preferred cloud provider. This builds on the success we've achieved helping customers easily procure and deploy Zoom through AWS marketplace. Let me also thank Delta Airlines, who this year is the first US airline to celebrate its centennial for choosing WorkVivo as their employee communications and engagement platform. Upon the sunsetting of Metro Workplace, Delta strategically chose to migrate to WorkVivo. As part of a multi-year deal, WorkVivo will serve Delta's entire global workforce, reinforcing their strong company culture with omni-channel reach and key features like live streaming, employee recognition, and comprehensive engagement analytics. Let me also thank Cloud Software Group, a global mission-critical enterprise software leader, as one of our newest CX clients to the Zoom family. Recognizing the simplicity and ease of use of our unified platform, they opted for the Zoom Connect Center and Zoom Virtual Agent to modernize the way they communicate and collaborate with their customers. These incredible wins across workplace and business services validated our strategy of delivering a full platform of modern, integrated, AI-powered solutions to drive meaningful business value and outcomes for customers. Now, let me hand over to Michelle to take us through the financial results. Thank you.