Zoom Video Communications, Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Zoom Video Communications, Inc. has filed its annual 10-K report for the fiscal year ending January 31, 2024, detailing financial performance and business operations.</b>

AI Summary

Zoom Video Communications, Inc. (ZM) filed a Annual Report (10-K) with the SEC on March 4, 2024. The 10-K filing covers the fiscal year ending January 31, 2024. The company's principal business address is 55 Almaden Boulevard, 6th Floor, San Jose, CA 95113. The filing includes data for fiscal years 2021, 2022, 2023, and 2024. Key financial statement components like Common Stock, Additional Paid-In Capital, Accumulated Other Comprehensive Income, and Retained Earnings are detailed for these periods. Geographic segment data for Americas and Asia Pacific is provided for fiscal years 2023 and 2024.

Why It Matters

For investors and stakeholders tracking Zoom Video Communications, Inc., this filing contains several important signals. This filing provides a comprehensive overview of Zoom's financial health and operational status for the past fiscal year, crucial for investors to assess performance and future outlook. The detailed financial data, including segment information and equity components, allows stakeholders to understand the company's financial structure and revenue streams.

Risk Assessment

Risk Level: — Zoom Video Communications, Inc. shows moderate risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-K to understand Zoom's revenue growth drivers and regional contributions.

Key Numbers

• 2024-01-31 — Fiscal Year End (Reporting period)
• 2024-03-04 — Filing Date (Date of submission)

Key Players & Entities

• Zoom Video Communications, Inc. (company) — Filer name
• 2024-01-31 (date) — Fiscal year end
• 2024-03-04 (date) — Filing date
• 55 Almaden Boulevard, 6th Floor, San Jose, CA 95113 (address) — Business address

FAQ

Industry Context

Zoom Video Communications operates in the software and cloud computing industry, specifically focusing on video conferencing and unified communications solutions.

Regulatory Implications

The filing is a standard Form 10-K, which is a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Analyze the financial statements for revenue trends and profitability.
2. Examine segment reporting for geographic performance insights.
3. Review any disclosed risk factors for potential business challenges.

Key Dates

• 2024-01-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-04: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending January 31, 2024, and therefore, direct comparison data from a prior 10-K is not available within this document snippet.

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value per share ZM The Nasdaq Globa

Filing Documents

• zm-20240131.htm (10-K) — 2238KB
• ex43_securitiesfrompy.htm (EX-4.3) — 36KB
• listofsubsidiaries_2024.htm (EX-21.1) — 12KB
• a10-kconsent2024.htm (EX-23.1) — 2KB
• zm-20240131xex311.htm (EX-31.1) — 12KB
• zm-20240131xex312.htm (EX-31.2) — 12KB
• zm-20240131xex321.htm (EX-32.1) — 10KB
• clawbackpolicy.htm (EX-97.1) — 17KB
• clawbackpolicy001.jpg (GRAPHIC) — 199KB
• clawbackpolicy002.jpg (GRAPHIC) — 281KB
• clawbackpolicy003.jpg (GRAPHIC) — 290KB
• clawbackpolicy004.jpg (GRAPHIC) — 268KB
• clawbackpolicy005.jpg (GRAPHIC) — 52KB
• zm-20240131_g1.jpg (GRAPHIC) — 108KB
• 0001585521-24-000030.txt (&nbsp;) — 13108KB
• zm-20240131.xsd (EX-101.SCH) — 61KB
• zm-20240131_cal.xml (EX-101.CAL) — 124KB
• zm-20240131_def.xml (EX-101.DEF) — 326KB
• zm-20240131_lab.xml (EX-101.LAB) — 940KB
• zm-20240131_pre.xml (EX-101.PRE) — 628KB
• zm-20240131_htm.xml (XML) — 1842KB

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 47 Item 1C. Cybersecurity 48

Properties

Item 2. Properties 48

Legal Proceedings

Item 3. Legal Proceedings 48

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49 Part II

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 49

[Reserved]

Item 6. [Reserved] 50

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 50

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 62

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 64

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 99

Controls and Procedures

Item 9A. Controls and Procedures 99

Other Information

Item 9B. Other Information 100

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 100 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 100

Executive Compensation

Item 11. Executive Compensation 100

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 100

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 100

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 100 Part IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 101

Form 10-K Summary

Item 16. Form 10-K Summary 103

Signatures

Signatures 104 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our future results of operations or financial condition; business strategy and plans; and objectives of management for future operations, including our statements regarding the benefits and timing of the roll out of new technology, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," or "would" or the negative of these words or other similar terms or expressions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our future financial performance, including our revenue, cost of revenue, gross profit, margins, and operating expenses; trends in our key business metrics; the sufficiency of our cash and cash equivalents, investments, and cash provided by sales of our products and services to meet our liquidity needs; market trends; our market position and opportunity; our growth strategy and business aspirations for our communications and collaboration platform; our product strategy; our efforts to enhance the security and privacy of our platform; our ability to operate our business and effectively manage our scale under evolving macroeconomic conditions, such as high inflation, recessionary or uncertain environments and fluc

BUSINESS

Item 1. BUSINESS Overview Our mission is to provide one platform that delivers limitless human connection. Our culture of delivering happiness drives our mission and values and is fundamental to everything we do at Zoom. Zoom is an intelligent, secure collaboration platform that makes connecting easier, more immersive, and more dynamic for businesses and individuals. We're committed to evolving our platform in ways that empower limitless human connection and solve real business problems. All of our product innovation has a unified goal: to help streamline the workday through effective communication and collaboration tools. The Zoom platform makes teamwork more meaningful, drives impact with intelligence, strengthens customer relationships, and enables seamless workflows. Additionally, trust is a cornerstone of the Zoom platform. We equip users with a comprehensive set of tools to make their interactions safe, secure, and private. We believe that strong security should never compromise a great user experience. Businesses of all sizes and individuals alike choose Zoom over other industry players for several reasons: We care for customers at Zoom speed: Zoom puts customers first. We are committed to providing a platform and products that people love. We put innovation in customers' hands quickly to serve their needs. Designed for hybrid work: Zoom is the only platform designed for hybrid communication and today's unique hybrid work needs. Zoom just works: Ease of use is a core design principle, along with quality and reliability. Enterprise readiness: Zoom is built to meet the needs of enterprises, with robust reliability, security, compliance, and privacy capabilities and policies. Cost-effective and value-focused: The total cost of ownership of the Zoom platform, across the employee experience and customer experience, is less than that of our competitors. Open platform: The Zoom developer ecosystem enables customers to choose the apps and integrations they