Zscaler's expansion within existing enterprise accounts—contributing 70% of incremental revenue—reflects high customer lifetime value and embedded switching costs in large, complex networks. Once deployed inline as a proxy across a distributed workforce, ripping out Zscaler requires re-architecting security infrastructure, making renewals and upsells the path of least resistance. This land-and-expand dynamic compounds ARR faster than customer count growth alone.
the thesis · admitted · the reason above is the thesis, not printed twice
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedseven sentences · whole, uncut
the claims it rests on · in our words, not the filing’s