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Operating Expense Breakdown
Details spending across sales & marketing, research & development, and general & admin. Seeing where Zscaler allocates cash reveals whether it is prioritizing growth, product innovation, or cost control — key to assessing near-term margins and the company’s ability to scale profitably.Zscaler is clearly prioritizing growth and product innovation: R&D spending has surged alongside a steep sales‑and‑marketing ramp, reflecting AI/data‑security investments, Symmetry and Red Canary integration, and an aggressive GTM push to win large enterprise deals. That reinvestment has supported margin expansion and ARR momentum, but management’s cautious guide, sales leadership turnover, and higher CapEx mean investors should watch whether incremental S&M yields durable net‑new ARR or pressures near‑term free cash flow and margin expansion.
Date | Sales and Marketing | Research and Development | General and Administrative |
|---|---|---|---|
Jun 30, 2026 | $381.36M | $241.48M | $81.87M |
Mar 31, 2026 | $371.94M | $232.28M | $83.24M |
Dec 31, 2025 | $368.95M | $229.14M | $78.18M |
Sep 30, 2025 | $373.56M | $200.50M | $65.66M |
Jun 30, 2025 | $330.59M | $177.61M | $71.03M |
Mar 31, 2025 | $314.61M | $169.76M | $63.10M |
Dec 31, 2024 | $307.87M | $170.86M | $60.81M |
Sep 30, 2024 | $306.09M | $154.25M | $56.82M |
Jun 30, 2024 | $294.20M | $139.15M | $56.26M |
Mar 31, 2024 | $262.45M | $124.96M | $50.48M |