Zoom Communications, Inc.

Hello, everyone, and welcome to Zoom's Q4 FY2026 Earnings Release Webinar. I will now hand things over to Charles Evislage, Head of Investor Relations. Charles, over to you.

Thank you, Catherine. Hello, everyone, and welcome to Zoom's Earnings Video Webinar for the fourth quarter and full fiscal year 2026. I'm joined today by Zoom's founder and 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.com. 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 2027, our expectations regarding financial and business trends, Impacts from the macroeconomic environment are market position, stock for purchase program, opportunities, go-to-market initiatives, growth strategy and business aspirations, and product initiatives, including future 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 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, who's giving his prepared remarks via Zoom custom avatar. Thank you, Charles.

FY26 was a pivotal year for Zoom and for our industry. We grew Q4 revenue 5.3% and full year FY26 revenue 4.4%, an acceleration of 130 basis points over FY25. These results reflect the increasing value of our platform with innovations like AI Companion 3.0 as our platform expands and evolves into an AI-powered system of action for modern work. The inflection and growth reflects a structural shift in the market. Organizations are moving beyond systems of record and engagement toward AI-driven systems of action that help customers and employees get real work done zoom is uniquely positioned to lead this transition we bridge work both inside and outside the organization across collaboration customer experience and employee experience using ai to take conversations all the way to completion and this directly connects to the three priorities we outlined last quarter to bring this system of action to life first elevate the workplace with ai Second, drive growth of new AI products. And third, scale AI-first customer experience. Let me start by speaking about scaling AI-first customer experience. Zoom's advantage in customer experience comes from embedding it within our broader system of action, not treating it as a standalone solution as many competitors do. Our CX platform is differentiated because it is built on the same platform that powers collaboration inside the organization and extends seamlessly to customer engagement and other external workflows. By unifying internal and external workflows, we eliminate traditional silos and enable customer journeys to move continuously from conversation to completion. Within customer experience itself, Zoom delivers a cohesive set of intelligent capabilities that empower both human and virtual agents and turn live interactions into coordinated action across teams and systems to drive outcomes. Our AI innovation across AI-assisted human agents and virtual agents is translating into improved service outcomes and cost savings for our customers and incremental revenue for Zoom. You see this in ZCX ARR continuing to grow in high double digits and in fact accelerating in Q4 driven by AI monetization. More concretely, you see it in the story our deal composition tells about why customers choose us. Every one of our top 10 deals this quarter included paid AI and seven represented competitive displacements of leading CCaaS vendors. Let me bring this to life with some Q4 customer wins. We welcomed Aeroflow Health, a medical device company who chose Zoom Contact Center in a major Q4 deal spanning ZCC Elite and ZVA Voice Plus Chat to replace a leading C-Cast vendor due to our bold AI vision for CX and ability to execute. We also saw many expansions. MLB and OpenLane both began as Zoom contact center customers and in Q4 bought a combination of ZCC Elite and ZVA Voice to deliver reimagined AI first human plus virtual agent customer service. In other cases, customers are adopting the full Zoom CX suite alongside Zoom Phone and Workplace to transform service operations end-to-end. For example, in Q4, a major insurance provider decided to replace an expensive contact center stitched to an AI point solution with our unified Zoom phone, contact center, and ZVA voice to automate call triage, reduce agent workload, and increase overall efficiency. We also partnered with Surrey and Sussex Healthcare NHS Trust who administers regional NHS services to modernize their manual fragmented inbound call operations through a single secure digital platform powered by Zoom phone, Zoom contact center and ZVA voice plus chat to enable AI powered self-service, improve wait times, reduce missed appointments and enhance overall patient outcomes and call operations efficiency. These wins also demonstrate the momentum behind Zoom Virtual Agent and the customer response to our voice AI within the CX suite. Only a few quarters in market, ZVA Voice has already been included in four of our top 10 CX deals. We are also starting to see ZVA Voice bring in new customers and act as a beachhead for potential expansion into large organizations. In Q4, we signed a nearly seven-figure ARR deal with a leading US retailer leveraging ZVA to handle inbound calls across more than 1,100 locations. ZVA 3.0, announced yesterday, builds upon this growing momentum It operates across voice and chat, taking action across systems, executing complex multi-step workflows, learning continuously from how human agents resolve issues, and seamlessly bringing people into the conversation with full context when needed. That's how we are helping enterprises close the loop on customer issues at scale. And it's a powerful example of how our CX platform can drive measurable efficiency, better experiences, and real business value for our customers. Our second priority is to grow AI revenue streams beyond customer experience and to extend the system of action to new AI products across vertical and horizontal workflows. Zoom Revenue Accelerator, our revenue orchestration platform that uses the power of Zoom AI to drive prospecting, coaching, CRM automation, and more, is a great example of this vertical value. ZRA had a strong quarter. The number of customers purchasing it grew 50% year over year, and its largest Q4 transactions spanned HR services, real estate, technology, and automotive sectors. Another great example of vertical workflows is BrightHire, which we were very excited to close in Q4 and bring similar conversational AI value to recruiting and hiring. BrightHire is early in its growth path. Together, we have a tremendous opportunity to combine BrightHire's domain-specific AI capabilities with Zoom's product breadth and distribution advantages to transform how organizations recruit, hire, and retain talent. We are also making progress with Custom AI Companion, which brings horizontal value to workflows across Zoom Workplace and beyond. We're proud to welcome the following new customers, showing the breadth of what this product can unlock. Harmonic, a leader in virtualized broadband and video streaming solutions, added Custom AI Companion wall-to-wall to their workplace deployment to integrate across multiple third-party tools and support knowledge retention, sales enablement, and employee onboarding. Custom AI Companion also made headway in sectors like education, where AI literacy is of paramount importance for both students and administrators. In Q4, Grand Valley State University adopted it wall-to-wall alongside Zoom Workplace for Education, supporting their efforts to streamline help desk and other student-facing processes by connecting administrators and community members more seamlessly with internal knowledge bases and workflows. At the same time, they added ZVA to their existing Zoom contact center to provide students with more responsive, omni-channel support. Last, the foundation of our system of action sits within Zoom Workplace, spanning the full meetings and work lifecycle where context is created and work moves forward. by evolving collaboration into an engine of action while preserving the flexibility of an open ecosystem. Zoom workplace remains simple, reliable, and deeply preferred by solopreneurs and Fortune 10 companies alike. Q4 marked a big step forward with the launch of AI Companion 3.0, advancing our system of action by turning meetings from one-off events into engines of ongoing work. As innovation accelerates, adoption continues to grow and broaden. In Q4, AI companion monthly active users more than tripled year over year. MAUs engaging AI through the side panel more than doubled quarter over quarter. And within Zoom Phone, MAUs using AI features increased 35% sequentially. This momentum reflects not only scale, but expanding depth of engagement across workflows. We also revitalized our core Zoom workplace client, simplifying the user experience with refreshed interfaces and streamlined navigation to make action even more intuitive. Our product mastery continues to translate into competitive wins and meaningful displacements across meetings, phone, chat, and beyond. Zoom Phone had some great competitive wins, and Phone ARR continues to grow in the mid-teens. Let me highlight some customer wins to bring this to life. In Q4, we landed a Fortune 10 customer on Zoom Phone in a large and competitive deal for 140,000 seats, replacing Cisco Calling. We also secured two major U.S. financial institutions on Zoom, Workplace, and Phone, displacing Teams and Cisco Calling. Additionally, we significantly expanded our footprint with a leading global bank, adding nearly 50,000 Zoom phone seats in Q4 and bringing their total deployment to an incredible 150,000 seats. These financial sector wins highlight our ability to meet the complex, highly regulated needs of the industry. Our customer-centric approach to innovation, particularly around AI and security, enables institutions to ensure compliance, mitigate regulatory risk, and modernize operations. The momentum is similar in healthcare, where we witnessed a growing number of workplace and phone wins that also added customer experience. They are choosing Zoom not only for sector-specific capabilities, but for the differentiation offered by our cohesive AI first system of action, spanning patient engagement, care coordination, and back office collaboration. In the age of AI, Zoom becomes more essential. We are building the system of action that turns conversations into coordinated execution across work inside the organization and with the world outside, including customer engagement, sales, recruiting, and more. By connecting collaboration to action, Zoom drives measurable outcomes, and we're still early in what this system can unlock. Now, let me turn it over to Michelle to take us through the financials. Michelle?