Equity Profile

ZS

Zscaler, Inc.

Information TechnologySystems Software$21.1B

Sep2Wed

Pre-Earnings Brief

UpcomingQ4-2026After Close5:00 PM EDT

Company Snapshot

Zscaler, Inc. is a leader in cloud security, providing solutions that help organizations protect their data and applications in the cloud....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well Zscaler has managed costs and revenue growth.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for its long-term success.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

ZS Q4-2026 Earnings Preview

Context

Company Snapshot

Zscaler, Inc. is a leader in cloud security, providing solutions that help organizations protect their data and applications in the cloud. As a part of the Information Technology sector, Zscaler plays a crucial role in the ongoing shift to cloud-based services, which has become increasingly important in today's digital landscape.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+1848.77%

Avg Stock Reaction

+1.13%

Last Quarter Recap

In Q3 2026, Zscaler reported an impressive EPS of $1.08, significantly beating expectations by over 3000%. The stock reacted positively, gaining 1.22% the following day.

Management Promises & Guidance

Continued focus on expanding cloud security solutions.
Commitment to maintaining high customer satisfaction and retention rates.
Plans to invest in new technology to enhance product offerings.

Expectations

Wall Street Expectations

Investors are generally optimistic about Zscaler's upcoming earnings, given its strong track record of beating EPS estimates in previous quarters.

Bull Case

If Zscaler continues its trend of significant EPS surprises, it could indicate robust business momentum and attract more investors.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a sharp decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q4-2026?

Given Zscaler's history of exceeding EPS estimates, this figure will be crucial in determining market sentiment.

How is Zscaler's revenue growth trending?

Revenue growth is essential for assessing the company's market position and future potential, especially in a competitive landscape.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Zscaler's ability to maintain high growth rates, as recent trends in cloud adoption suggest continued demand for its services.

Supporting Evidence

Zscaler has consistently beaten EPS estimates, indicating strong operational execution.

The options market is pricing a modest move, which may not reflect the potential for a significant positive surprise.

Zscaler's recent investments in technology could lead to enhanced product offerings that drive future growth.

Key Risk

If revenue growth exceeds expectations, it could challenge the current cautious sentiment around the stock.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will be closely watched to see if Zscaler can maintain its impressive growth trajectory in a challenging market.

Bull Confirmed If

An EPS of $1.10 or higher would confirm strong growth and investor confidence.

Bear Confirmed If

An EPS below $0.90 could indicate potential issues with revenue or cost management.

Pre-Earnings Positioning

Options Market

Implied Move

±2.57%

Historical Avg

±2.5%

In line with history

The options market is pricing in a move of about 2.57% in either direction following the earnings report, suggesting uncertainty among investors.

Options are pricing ±2.6% while ZS has averaged ±2.5% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

0.6%

30d HV

127.9%

Calls (4.8M)P/C Ratio: 0.44Puts (3.2M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Zscaler beats expectations, history suggests the stock could rise by around 1.13%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further commentary from management.

Miss

A miss could lead to a decline of around 2.45%, reflecting disappointment in the company's performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer acquisition rates and retention metrics.
2Insights into new product developments and technology investments.
3Management's outlook on the competitive landscape in cloud security.
4Comments on macroeconomic factors affecting customer spending.
5Guidance on future revenue growth and profitability targets.

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Company Snapshot

Zscaler, Inc. is a leader in cloud security, providing solutions that help organizations protect their data and applications in the cloud....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well Zscaler has managed costs and revenue growth.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for its long-term success.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

ZS Q4-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+1848.77%

Avg Stock Reaction

+1.13%

Last Quarter Recap

In Q3 2026, Zscaler reported an impressive EPS of $1.08, significantly beating expectations by over 3000%. The stock reacted positively, gaining 1.22% the following day.

Management Promises & Guidance

Continued focus on expanding cloud security solutions.
Commitment to maintaining high customer satisfaction and retention rates.
Plans to invest in new technology to enhance product offerings.

Expectations

Wall Street Expectations

Investors are generally optimistic about Zscaler's upcoming earnings, given its strong track record of beating EPS estimates in previous quarters.

Bull Case

If Zscaler continues its trend of significant EPS surprises, it could indicate robust business momentum and attract more investors.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a sharp decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q4-2026?

Given Zscaler's history of exceeding EPS estimates, this figure will be crucial in determining market sentiment.

How is Zscaler's revenue growth trending?

Revenue growth is essential for assessing the company's market position and future potential, especially in a competitive landscape.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Zscaler's ability to maintain high growth rates, as recent trends in cloud adoption suggest continued demand for its services.

Supporting Evidence

Zscaler has consistently beaten EPS estimates, indicating strong operational execution.

The options market is pricing a modest move, which may not reflect the potential for a significant positive surprise.

Zscaler's recent investments in technology could lead to enhanced product offerings that drive future growth.

Key Risk

If revenue growth exceeds expectations, it could challenge the current cautious sentiment around the stock.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will be closely watched to see if Zscaler can maintain its impressive growth trajectory in a challenging market.

Bull Confirmed If

An EPS of $1.10 or higher would confirm strong growth and investor confidence.

Bear Confirmed If

An EPS below $0.90 could indicate potential issues with revenue or cost management.

Pre-Earnings Positioning

Options Market

Implied Move

±2.57%

Historical Avg

±2.5%

In line with history

The options market is pricing in a move of about 2.57% in either direction following the earnings report, suggesting uncertainty among investors.

Options are pricing ±2.6% while ZS has averaged ±2.5% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

0.6%

30d HV

127.9%

Calls (4.8M)P/C Ratio: 0.44Puts (3.2M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Zscaler beats expectations, history suggests the stock could rise by around 1.13%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further commentary from management.

Miss

A miss could lead to a decline of around 2.45%, reflecting disappointment in the company's performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer acquisition rates and retention metrics.
2Insights into new product developments and technology investments.
3Management's outlook on the competitive landscape in cloud security.
4Comments on macroeconomic factors affecting customer spending.
5Guidance on future revenue growth and profitability targets.