{
  "url": "https://struct.news/briefs/zooms-net-margin-hit-121-as-its-operating-margin-slipped",
  "title": "Zoom's net margin hit 121% as its operating margin slipped",
  "summary": "Zoom posted $1.5 billion of net income on $1.3 billion of six-month revenue, but the latest 10-Q does not explain the jump.",
  "published_at": "2026-08-27T06:45:41.191214+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Zoom Communications, Inc.",
    "ticker": "ZM",
    "cik": "1585521",
    "sector": "Technology",
    "industry": "Software - Application"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-26",
    "accession": "0001585521-26-000121",
    "url": "https://www.sec.gov/Archives/edgar/data/1585521/000158552126000121/zm-20260731.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-22",
    "url": "https://www.sec.gov/Archives/edgar/data/1585521/000158552125000141/zm-20250731.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 4868769000,
      "display": "$4.9B",
      "unit": "usd",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001585521-26-000121",
        "filing_date": "2026-08-26"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 4.358352161524981,
      "display": "+4.4%",
      "unit": "percent",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001585521-26-000121",
        "filing_date": "2026-08-26"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": 23.078379771149546,
      "display": "+23.1%",
      "unit": "percent",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001585521-26-000121",
        "filing_date": "2026-08-26"
      }
    }
  ],
  "watch_next": [
    {
      "type": "input_costs",
      "statement": "Third-party hosting costs rose as platform usage increased, including AI-related consumption from new products, pressuring operating margin.",
      "importance": "medium",
      "evidence": "The increase was primarily due to a $34.4 million increase in third-party hosting costs, primarily driven by increased platform usage, including growth in AI-related consumption from the launch of new products",
      "source_date": "2026-08-26"
    },
    {
      "type": "product_pipeline",
      "statement": "Zoom increased R&D spending for continued AI innovation while six-month revenue growth remained 4.9%.",
      "importance": "medium",
      "evidence": "Research and development expense for the six months ended July 31, 2026 increased by $58.6 million, or 14.2%, compared to the six months ended July 31, 2025, driven by continued investments in AI innovation.",
      "source_date": "2026-08-26"
    }
  ],
  "related_tickers": [
    "ZM"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}