Company profile
SEC EDGAR ↗- Industry
- Services-Computer Programming, Data Processing, Etc.
- Listed
- Nasdaq: ZM
- Incorporated
- DE
- Headquarters
- San Jose, CA
- Fiscal year end
- Jan 31
Financials
FY2026- Revenue
- $4.87B
- Net income
- $1.90B
- Total assets
- $12.0B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2026 | $4.87B | $1.90B | $12.0B |
| FY2025 | $4.67B | $1.01B | $11.0B |
| FY2024 | $4.53B | $637.5M | $9.93B |
| FY2023 | $4.39B | $103.7M | $8.13B |
| FY2022 | $4.10B | $1.38B | $7.55B |
| FY2021 | $2.65B | $672.3M | $5.30B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
Run one of these yourself
The decisions Zoom faced, as kits you can run.
Each pack takes one of these decisions and gives you the framework, a deck for the room, a model that resolves to one number, and the sourced cases behind it. $499, one-time.
Decision ForksThe CannibalizationShould you launch the thing that takes revenue from your best business?See the pack →Decision ForksThe All-In BetHow much does this bet commit before anybody outside the company acts on it?See the pack →Moat & CompetitionThe Moat AnatomyWhat would it actually cost a challenger to take your customer?See the pack →
The analyses
The Cannibalization Choice · Growth & Portfolio
Zoom's Stock Fell About 85%. Its Revenue Kept Rising. The Company Is Splitting in Two
The stock fell ~85% from its $568 peak, so everyone assumes Zoom is fading. But revenue hit a new high every year — $4.67B in FY2025. The real story is a company quietly bifurcating, racing to grow its enterprise half before its consumer half bleeds out.
8 min
The Bet · Decision Forks
Zoom's 326% Pandemic Surge Was Demand Pulled Forward — and the Math Came Due
Zoom's revenue surged 326% to $2.65B in a single fiscal year and its stock ran from ~$89 to ~$559. Then it gave nearly all of it back. The windfall wasn't a strategic masterstroke - it was demand pulled forward, and the math was always going to come due.
7 min
The Moat Anatomy · Moat & Competition
Zoom Had a Brilliant Product and a Borrowed Moat. Then the Bill Came Due.
Zoom went from 326% revenue growth to 3.1% in three fiscal years. The collapse wasn't a failure - it was a confession: what looked like a structural moat was product velocity all along, and velocity isn't a wall.
8 min
The Pricing Play · Business Model
55% of Zoom's Biggest Customers Started Free — the Tier Was an Enterprise Sales Engine
The story is that a free product went viral in a pandemic. The truth is colder: 55% of Zoom's biggest customers started for free, and the engine was profitable before COVID ever hit. Then the pandemic flooded the funnel with people who would never pay - and broke the math.
7 min
Tools to try
- Ansoff move finderFramework: Ansoff Matrix
- Business model canvas builderFramework: Business Model Canvas
- Change readiness checkFramework: Kotter's 8-Step Change Model
- Five Forces scorerFramework: Porter's Five Forces
- SMART goal builderFramework: SMART Goals
- SWOT builderFramework: SWOT Analysis
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The defining moves in business, and what they teach, as they publish.