Zoom Video Communications has reported 369 per cent growth in revenue to $882.5 million in the for the fourth quarter ended January 31, 2021
Zoom’s total revenue for the full fiscal year 2021 was at $2,651.4 million, up 326 per cent year-over-year.
“ In FY2021, we significantly scaled our business to provide critical communications and collaboration services to our customers and the global community in response to the pandemic. Our ability to rapidly respond and execute drove strong financial results throughout the year,” said Eric S. Yuan, Founder and Chief Executive Officer of Zoom.
According to an official release, the drivers of total revenue included “acquiring new customers and expanding across existing customers.”
At the end of the fourth quarter of the fiscal year 2021, Zoom had approximately 4,67,100 customers with more than 10 employees, up approximately 470 per cent from the same quarter last fiscal year.
It had 1,644 customers contributing more than $100,000 in trailing 12 months (“TTM”) revenue, up approximately 156 per cent from the same quarter last fiscal year.
In its guidance for its first quarter of the fiscal year 2022, Zoom expects total revenue to be between $900.0 million and $905.0 million.
It is expecting total revenue for the full fiscal year 2022 to be between $3.760 billion and $3.780 billion.
“As we enter FY2022, we believe we are well-positioned for strong growth with our innovative video communications platform, on which our customers can build, run, and grow their businesses; our globally recognized brand; and a team ever focused on delivering happiness to our customers,” said Yuan.
Published on March 2, 2021