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# Zscaler Repeats Fiscal 2027 Guidance At Investor Day, Names $10 Billion ARR Target
- URL: https://www.bullished.co/zscaler-repeats-fiscal-2027-guidance-at-investor-day-names-10-billion-arr-target-77d80f6a/
- Published: 2026-10-06T10:21:08.000Z
- Updated: 2026-10-06T10:21:08.000Z
- Description: The company left first-quarter and full-year targets unchanged from Sept. 3 while its CEO called agentic AI its biggest opportunity.
- Author: Matteo Parrino
- Tags: Earnings, ZS, Industry: Technology

Zscaler [reaffirmed its fiscal 2027 guidance](https://www.sec.gov/Archives/edgar/data/0001713683/000171368326000200/zs-20261006.htm?ref=bullished.co) on Tuesday, holding full-year revenue at $3.908 billion to $3.938 billion, according to an 8-K filed the morning of its investor day in New York. The outlook is unchanged from the one the company gave on Sept. 3.

## What the guidance says

The press release attached to the 8-K says the full-year revenue range implies [growth of 16.6% to 17.5%](https://www.sec.gov/Archives/edgar/data/0001713683/000171368326000200/zsinvestordaypressrelease.htm?ref=bullished.co). Other full-year targets:

- ARR (annual recurring revenue) of $4.396 billion to $4.426 billion, growth of about 16.6% to 17.4%.
- Adjusted income from operations of $924 million to $932 million, growth of about 21%.
- Adjusted earnings per share of $4.86 to $4.90, assuming about 173 million fully diluted shares.
- Free cash flow margin of about 23.0% to 23.5%.

For the first quarter, Zscaler expects revenue of $935 million to $939 million, about 19% year-over-year growth. It expects adjusted operating income of $215 million to $217 million, a 23% operating margin, and adjusted earnings per share of about $1.15 to $1.16.

The company says it has not reconciled its adjusted operating income and earnings-per-share guidance to standard accounting measures, because some items are out of its control or cannot be reasonably predicted.

## The AI argument

CEO Jay Chaudhry said the agentic AI era is "quickly becoming the most significant opportunity in our company's history." He said the company has multiple growth engines that it believes will let it capitalize on AI and move toward its $10 billion ARR target.

The release lists Chief Financial Officer Kevin Rubin, Chief Product Officer Adam Geller, Chief Revenue Officer Ross Tackett and Dhawal Sharma, Executive Vice President of AI & Data Security, among the presenters. They were to cover strategy, platform innovation, go-to-market priorities and long-term growth drivers.

The company says it inspects more than 750 billion transactions a day across 200-plus data centers.

## What it changes

Nothing in the numbers. The filing repeats the September ranges, so the new information is the long-term ARR goal and the AI framing. Zscaler shares closed at $201.80 at Monday's close, before the 6:02 a.m. ET filing.

The 8-K says the presentation began at 8:30 a.m. Eastern and was webcast.

A replay of the half-day event will be posted on Zscaler's investor relations website shortly after it ends.

### Sources

- [8-K Filing — Zscaler, Inc. (ZS)](https://www.sec.gov/Archives/edgar/data/0001713683/000171368326000200/zs-20261006.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit zsinvestordaypressrelease.htm — Zscaler, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001713683/000171368326000200/zsinvestordaypressrelease.htm?ref=bullished.co) — SEC EDGAR