ZscalerZS
10-K · 3 sep 2026 · for the period to 31 jul 2026
accession 0001713683-26-000157
the reasons · as derived · open any one to read itat latest read
every reason’s state · derivation order
01Zscaler's land-and-expand model drove $321 million of the $500 million revenue increase in the nine months ended April 30, 2026 from upselling additional subscriptions to existing customers, demonstrating that once deployed, customers deepen usage rather than churn, creating durable expansion revenue.
switching costsis wired into how the customer already works
holdsread 19 aug 2026
02Zscaler operates as an inline proxy sitting between every user and the internet, meaning all enterprise traffic must traverse its cloud — a deployment model that embeds the platform into network architecture and makes rip-and-replace operationally disruptive.
switching costsis wired into how the customer already works
holdsread 19 aug 2026
03Approximately 40% of the Forbes Global 2000 are already Zscaler customers, giving the company a footprint in the largest, most security-conscious enterprises that competitors must displace rather than greenfield-sell into.
distribution densityis already on the route the customer buys through
holdsread 19 aug 2026
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