Zoom Video Communications, Inc. (ZM) Q1 2024 Earnings Call Transcript

For the period ending April 30, 2023

May 22, 2023 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Kelcey McKinley

Hello, everyone, and welcome to Zoom's Q1 FY '24 Earnings Release Webinar. As a reminder, today's webinar is being recorded.

And now, I will hand things over to Tom McCallum, Head of Investor Relations. Tom, over to you.

Tom McCallum

Thank you, Kelcey. Hello, everyone, and welcome to Zoom's earnings video webinar for the first quarter of fiscal year 2024. I’m joined today by Zoom’s Founder and CEO, Eric Yuan, and Zoom’s CFO, Kelly Steckelberg.

Our earnings press release was issued today after the market closed and may be downloaded from the Investor Relations page at investors.zoom.us. Also, on this page you'll be able to find a copy of today's prepared remarks and a slide deck with financial highlights that, along with our earnings release, include a reconciliation of GAAP to non-GAAP financial results.

During this call, we will make forward-looking statements, including statements regarding our financial outlook for the first -- for second quarter and full fiscal year 2024; our expectations regarding financial and business trends; impacts from the macroeconomic environment, our market position, opportunities, go-to-market initiatives, growth strategy and business aspirations; and product initiatives and the expected benefits of such initiatives.

These statements are only predictions that are based on what we believe today, and actual results may differ materially. These forward-looking statements are subject to risks and other factors that could affect our performance and financial results, which we discuss in detail in our filings with the SEC, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Zoom assumes no obligation to update any forward-looking statements that we may make on today’s webinar.

And with that, let me turn the discussion over to Eric.

Eric Yuan

Hey. Thank you, Tom. Thank you, everyone for joining us today. As we continue to execute on the strategic focuses, which I shared with you, our last quarter, we are grateful for the support, feedback and trust that we have received from our customers and investors.

Last month, we closed our acquisition of Workvivo, which we are super excited about. Workvivo is a modern employee communication and engagement platform. Their solution combines a social intranet and employee app into one central hub, forming the heart of a company's digital ecosystem.