Zoom Q2 revenue up 355% YOY
September 1, 2020
By Colin Mann
Zoom Video Communications’ financial results for the quarter ended July 31st, 2020 reveal that total revenue for the quarter was $663.5 million, up 355 per cent year-over-year.
“Organisations are shifting from addressing their immediate business continuity needs to supporting a future of working anywhere, learning anywhere, and connecting anywhere on Zoom’s video-first platform,” reported Zoom founder and CEO, Eric S. Yuan. “At Zoom, we strive to deliver a world-class, frictionless, and secure communication experience for our customers across locations, devices, and use cases. Our ability to keep people around the world connected, coupled with our strong execution, led to revenue growth of 355 per cent year-over-year in Q2 and enabled us to increase our revenue outlook to approximately $2.37 billion to $2.39 billion for FY21, or 281 per cent to 284 per cent increase year-over-year.”
Drivers of total revenue include acquiring new customers and expanding across existing customers. At the end of the second quarter of fiscal year 2021, Zoom had:
- Approximately 370,200 customers with more than 10 employees, up approximately 458 per cent from the same quarter last fiscal year.
- 988 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 112 per cent from the same quarter last fiscal year.
- A trailing 12-month net dollar expansion rate in customers with more than 10 employees above 130 per cent for the ninth consecutive quarter.