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Third Quarter Highlights • Revenue grows 60 % year - over - year to $ 176.4 million Calculated billings grows 71 % year - over - year to $ 225.0 million • Deferred revenue grows 65 % year - over - year to $ 495.4 million • GAAP net loss of $ 58.5 million compared to GAAP net loss of $ 19.3 million on a year - over - year basis • Non - GAAP net income of $ 21.4 million compared to non - GAAP net income of $ 10.3 million on a year - over - year basis Zscaler Reports Third Quarter Fiscal 2021 Financial Results SAN JOSE , California - May 25 , 2021 - Zscaler , Inc. ( Nasdaq : ZS ) , the leader in cloud security , today announced financial results for its third quarter of fiscal year 2021 , ended April 30 , 2021 . " We delivered outstanding results for the third quarter , with revenue growth accelerating to 60 % year over year and free cash flow reaching a new record . Our Zero Trust Exchange platform is helping customers realize their digital transformation goals and architect for the new normal of the work - from - anywhere economy , " said Jay Chaudhry , Chairman and CEO of Zscaler . " Our strategic position with customers continues to strengthen , and we are executing well on our go - to - market initiatives . With strong business momentum , we are pleased to again increase our fiscal year guidance . " Third Quarter Fiscal 2021 Financial Highlights ● Revenue : $ 176.4 million , an increase of 60 % year - over - year . • Income ( loss ) from operations : GAAP loss from operations was $ 43.9 million , or 25 % of total revenue , compared to $ 20.5 million , or 19 % of total revenue , in the third quarter of fiscal 2020. Non - GAAP income from operations was $ 22.9 million , or 13 % of total revenue , compared to $ 9.7 million , or 9 % of total revenue , in the third quarter of fiscal 2020 . • Net income ( loss ) : GAAP net loss was $ 58.5 million , compared to $ 19.3 million in the third quarter of fiscal 2020 . Non - GAAP net income was $ 21.4 million , compared to $ 10.3 million in the third quarter of fiscal 2020 . • Net income ( loss ) per share : GAAP net loss per share was $ 0.43 , compared to $ 0.15 in the third quarter of fiscal 2020. Non - GAAP net income per share was $ 0.15 , compared to $ 0.07 in the third quarter of fiscal 2020 . • Cash flow : Cash provided by operations was $ 73.4 million , or 42 % of revenue , compared to $ 20.8 million , or 19 % of revenue , in the third quarter of fiscal 2020. Free cash flow was $ 55.8 million , or 32 % of revenue , compared to $ 9.1 million , or 8 % of revenue , in the third quarter of fiscal 2020 . • Deferred revenue : $ 495.4 million as of April 30 , 2021 , an increase of 65 % year - over - year . Cash , cash equivalents and short - term investments : $ 1,467.6 million as of April 30 , 2021 , an increase of $ 97.0 million from July 31 , 2020 . Recent Business Highlights Acquired Trustdome , a leading innovator in Cloud Infrastructure Entitlement Management ( CIEM ) , to be integrated with Zscaler's existing Cloud Security Posture Management ( CSPM ) platform and provide a comprehensive solution for reducing public cloud attack surfaces and improving security posture . With this acquisition , Zscaler also expands its global footprint with its first development center in Israel , where the company plans to continue investment . ● Signed a definitive agreement to acquire Smokescreen Technologies , a leader in active defense and deception technology . Smokescreen's cutting - edge capabilities will be integrated into the Zscaler Zero Trust Exchange ™ platform , further building upon Zscaler's ability to detect ransomware , lateral movement attempts , and other sophisticated , highly targeted attacks . 1