Video-first unified communications provider Zoom Video Communications announced financial results for the quarter ended January 31, 2020. For the fourth quarter, total revenue was $188.3 million, up 78% year-over-year. GAAP income from operations for the quarter was $10.6 million, compared to GAAP income from operations of $5.5 million in the fourth quarter of the fiscal year 2019. Zoom’s total cash, cash equivalents, and marketable securities as of January 31, 2020, was $855.2 million.
78% year-over-year increase for 4th quarter
For the full fiscal year 2020, total revenue was $622.7 million, up 88% year-over-year. GAAP income from operations for the fiscal year was $12.7 million, compared to GAAP income from operations of $6.2 million for the fiscal year 2019. Net cash provided by operating activities was $151.9 million for the fiscal year, compared to $51.3 million for fiscal year 2019. For fiscal year 2021, total revenue is expected to be between $905.0 million and $915.0 million and non-GAAP income from operations is expected to be between $110.0 million and $120.0 million.
Eric S. Yuan, Founder and Chief Executive Officer of Zoom said,
“We strive to empower our customers to accomplish more with our video-first unified communications platform. This is evidenced by our strong performance in the fourth quarter as we delivered a unique combination of high total revenue growth of 78% at a scale of $188 million, GAAP income from operations of $11 million, non-GAAP income from operations of $38 million, and operating cash flow of $37 million. Our execution also drove 61% growth in the number of customers with more than 10 employees and 86% growth in the number of customers contributing more than $100K of TTM revenue.”