Zoom Revenue Hits $4.87 Billion: The Real Numbers, Filing by Filing

Zoom's revenue was $4,868.8 million in fiscal 2026, the year ended January 31, 2026 — up 4.4% from the year before, per the fourth-quarter earnings release the company filed on February 25, 2026. The growth has continued into the current fiscal year: $1,239.0 million in the quarter ended April 30, 2026 (reported May 21, 2026) and $1,277.2 million in the quarter ended July 31, 2026 (reported August 25, 2026), with full-year fiscal 2027 guidance of $5.085–5.095 billion. The one-line answer to “what is Zoom revenue”: Zoom is now a roughly $5-billion-a-year company growing about 5% — a very different animal from both the rocket of 2020 and the doomed fad the 2022 bears called it.

A note on sourcing before the numbers. Zoom is public (Nasdaq: ZM), so everything below comes from its SEC filings and dated earnings releases — the cleanest data trail of any company we cover. Two flags: GetLatka's own database has no live Zoom company page right now (both getlatka.com/companies/zoom.us and /companies/zoom return 404 as of August 31, 2026), so there is nothing internal to cross-check against. And the previous version of this article failed our full-corpus audit badly; the corrections are listed at the bottom.

Zoom revenue by year, FY2017–FY2026

Zoom's fiscal years end January 31, which is why the pandemic surge shows up in “fiscal 2021”: that year ran February 2020 through January 2021, almost exactly the lockdown era. Figures through FY2024 are from Zoom's S-1 and annual 10-K filings; FY2025 and FY2026 are from the earnings releases of February 24, 2025 and February 25, 2026.

All figures as reported in Zoom's SEC filings (CIK 0001585521). FY2021 is the COVID year: February 2020 through January 2021.

The COVID quadrupling: $622.7M to $2.65B in one year

No SaaS company of Zoom's size has ever grown the way Zoom did in fiscal 2021. Revenue went from $622.7 million to $2,651.4 million — a 4.3x jump, +326%, in twelve months, all of it organic. In December 2019 Zoom counted about 10 million daily meeting participants; by late April 2020 it was reporting 300 million. That second number comes with an asterisk Zoom itself had to add: an April 2020 company blog post initially called them daily “users,” then was corrected to daily meeting participants — one person joining five meetings counts five times. The correction was widely covered at the time, including by The Verge. Even discounted, a 30x usage jump in four months is why the stock peaked near $160 billion in market value in October 2020.

The surge brought a genuine crisis with it. “Zoombombing” and a string of security findings led Eric Yuan to publish a 90-day feature freeze on April 1, 2020, dedicating all engineering to security and privacy; Zoom acquired Keybase that May to build end-to-end encryption, and settled with the FTC over encryption claims in November 2020. Handled slowly, that stretch could have killed the enterprise business. Instead, enterprise is what saved the company after the boom ended.

After the boom: from 55% growth to single digits

Fiscal 2022 still grew 55%, but the deceleration after that was brutal: +7% in FY2023, +3% in each of FY2024 and FY2025. The stock fell more than 80% from its 2020 peak, and Zoom's attempted $14.7 billion all-stock acquisition of Five9 — announced July 2021 as a push into contact centers — collapsed that September when Five9 shareholders voted it down. In February 2023, Yuan announced roughly 1,300 layoffs, about 15% of staff, writing in a company blog post that he would cut his own salary for the coming fiscal year by 98%.

What the collapse narrative missed is that revenue never actually declined. Every fiscal year since the pandemic has been an all-time high, and growth has quietly re-accelerated: +4.4% in FY2026, with the company guiding fiscal 2027 to about $5.09 billion (guidance raised on August 25, 2026). Zoom also renamed itself in November 2024 — Zoom Video Communications became Zoom Communications — to signal the move beyond meetings, and ended January 2026 holding $7.8 billion in cash and marketable securities.

Where Zoom's revenue comes from now

Zoom reports two revenue lines, and they tell the whole strategic story. In fiscal 2026, Enterprise revenue was $2,934.1 million (up 6.5%) and Online — the self-serve, credit-card business consumers know — was $1,934.7 million (up 1.2%). The two sum exactly to the $4,868.8 million total. The same split held in the most recent quarter (ended July 31, 2026): Enterprise $787.5 million, up 7.8% — which Yuan called its strongest growth rate in three years on the August 25, 2026 earnings call — against Online at $489.7 million, up 0.6%. The consumer brand is flat; sales-led enterprise deals, Zoom Phone, the contact-center product, and AI features (Zoom said paid AI Companion users grew 184% year over year in the May 2026 release) are where the growth is.

The founding story, minus the myths

Eric Yuan left Cisco in June 2011, where he had been a corporate VP of engineering running WebEx — the product he had helped build since 1997 — and roughly 40 engineers followed him out, per Forbes' 2017 profile. Many VCs did pass on the idea of yet another video tool in a market owned by Cisco and Microsoft. But the often-repeated claim that Zoom was bootstrapped is false: Zoom raised a seed round of about $3 million in 2011, backed by Qualcomm Ventures, WebEx co-founder Subrah Iyar, and angels, then further rounds in 2013, a $30 million Series C led by Emergence Capital in February 2015, and a $100 million Series D from Sequoia in January 2017 that valued the company at $1 billion.

The product launched publicly in January 2013 and passed 1 million participants within a few months. When Zoom went public on April 18, 2019, it priced at $36 a share — valuing it around $9.2 billion — and closed its first day at $62, up 72%. Rarer still, its S-1 showed a software IPO that was already profitable: $7.6 million of net income on $330.5 million of FY2019 revenue.

What the previous version of this article got wrong