Zscaler Gets New CFO, Boosts Forecast as Cybersecurity Spending Rises
Hey, so Zscaler, you know, the cloud security company, just named Kevin Rubin as their new money guy, like, chief financial officer. They also just upped their sales forecast for the year. This is happening because businesses are spending way more on cybersecurity stuff to fight off all the tricky online threats out there.
Their shares even jumped almost 5% after hours which is pretty cool. Kevin was the finance chief at this mental health startup called BetterUp before coming over to Zscaler. He's taking over from Remo Canessa, who retired back in December.
With everyone jumping on the generative AI train lately, companies are facing bigger risks of losing important data. This just shows how super important strong data protection is, you know? Businesses keep pouring money into digital protection services, and that's really boosting sales for companies like Zscaler. They've got products for keeping data safe and even some AI-powered security things.
Zscaler now thinks they'll make between $2.659 billion and $2.661 billion in revenue for fiscal 2025. That's up from what they said before, which was $2.640 billion to $2.654 billion. Financial folks figured theyâd make around $2.649 billion though, according to some data I saw.
They also expect to make more money per share, like, between $3.18 and $3.19 on an adjusted basis. Before, they were thinking it would be $3.04 to $3.09 per share. And get this, for the time between February and April, Zscaler pulled in $678 million in revenue. That totally beat what the experts were guessing, which was about $666.4 million. Plus, they reported adjusted earnings of 84 cents per share for that quarter, which was also better than the 75 cents per share the analysts expected. Pretty good stuff, right?
