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Side-by-side financial comparison of Five9, Inc. (FIVN) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
Zscaler, Inc. is the larger business by last-quarter revenue ($788.1M vs $300.3M, roughly 2.6× Five9, Inc.). On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs 7.8%). Zscaler, Inc. produced more free cash flow last quarter ($431.0M vs $77.3M). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 10.3%).
Five9, Inc. is a leading global provider of cloud-native contact center software and solutions. It serves enterprises of all sizes across retail, healthcare, financial services, and technology sectors, offering omnichannel customer engagement tools, AI-powered automation, workforce management, and analytics to boost customer experience and operational efficiency.
Zscaler, Inc. is an American cloud security company based in San Jose, California. The company offers cloud-based services to protect enterprise networks and data.
FIVN vs ZS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $300.3M | $788.1M |
| Net Profit | — | $-11.6M |
| Gross Margin | 55.4% | 76.6% |
| Operating Margin | 6.6% | -4.6% |
| Net Margin | — | -1.5% |
| Revenue YoY | 7.8% | 25.5% |
| Net Profit YoY | — | 3.6% |
| EPS (diluted) | $0.22 | $-0.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $300.3M | $788.1M | ||
| Q3 25 | $285.8M | $719.2M | ||
| Q2 25 | $283.3M | $678.0M | ||
| Q1 25 | $279.7M | $647.9M | ||
| Q4 24 | $278.7M | $628.0M | ||
| Q3 24 | $264.2M | $592.9M | ||
| Q2 24 | $252.1M | $553.2M | ||
| Q1 24 | $247.0M | $525.0M |
| Q4 25 | — | $-11.6M | ||
| Q3 25 | $18.0M | $-17.6M | ||
| Q2 25 | $1.2M | $-4.1M | ||
| Q1 25 | $576.0K | $-7.7M | ||
| Q4 24 | — | $-12.1M | ||
| Q3 24 | $-4.5M | $-14.9M | ||
| Q2 24 | $-12.8M | $19.1M | ||
| Q1 24 | $-7.1M | $-28.5M |
| Q4 25 | 55.4% | 76.6% | ||
| Q3 25 | 55.0% | 76.1% | ||
| Q2 25 | 54.9% | 77.0% | ||
| Q1 25 | 55.0% | 77.1% | ||
| Q4 24 | 56.0% | 77.5% | ||
| Q3 24 | 53.8% | 78.0% | ||
| Q2 24 | 53.0% | 78.6% | ||
| Q1 24 | 53.6% | 77.7% |
| Q4 25 | 6.6% | -4.6% | ||
| Q3 25 | 5.6% | -4.5% | ||
| Q2 25 | -0.6% | -3.7% | ||
| Q1 25 | -1.9% | -6.2% | ||
| Q4 24 | 1.5% | -4.9% | ||
| Q3 24 | -5.8% | -4.5% | ||
| Q2 24 | -7.7% | -0.5% | ||
| Q1 24 | -8.4% | -8.7% |
| Q4 25 | — | -1.5% | ||
| Q3 25 | 6.3% | -2.4% | ||
| Q2 25 | 0.4% | -0.6% | ||
| Q1 25 | 0.2% | -1.2% | ||
| Q4 24 | — | -1.9% | ||
| Q3 24 | -1.7% | -2.5% | ||
| Q2 24 | -5.1% | 3.5% | ||
| Q1 24 | -2.9% | -5.4% |
| Q4 25 | $0.22 | $-0.07 | ||
| Q3 25 | $0.21 | $-0.11 | ||
| Q2 25 | $0.01 | $-0.03 | ||
| Q1 25 | $0.01 | $-0.05 | ||
| Q4 24 | $0.16 | $-0.08 | ||
| Q3 24 | $-0.06 | $-0.09 | ||
| Q2 24 | $-0.17 | $0.12 | ||
| Q1 24 | $-0.10 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $232.1M | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $785.8M | $2.0B |
| Total Assets | $1.8B | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $232.1M | $1.3B | ||
| Q3 25 | $193.4M | $2.4B | ||
| Q2 25 | $205.5M | $2.0B | ||
| Q1 25 | $370.3M | $1.8B | ||
| Q4 24 | $362.5M | $1.6B | ||
| Q3 24 | $291.0M | $1.4B | ||
| Q2 24 | $175.7M | $1.3B | ||
| Q1 24 | $240.2M | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $785.8M | $2.0B | ||
| Q3 25 | $775.3M | $1.8B | ||
| Q2 25 | $717.4M | $1.8B | ||
| Q1 25 | $664.3M | $1.6B | ||
| Q4 24 | $622.2M | $1.4B | ||
| Q3 24 | $565.6M | $1.3B | ||
| Q2 24 | $525.9M | $1.1B | ||
| Q1 24 | $483.6M | $958.9M |
| Q4 25 | $1.8B | $6.5B | ||
| Q3 25 | $1.8B | $6.4B | ||
| Q2 25 | $1.7B | $5.3B | ||
| Q1 25 | $2.1B | $5.0B | ||
| Q4 24 | $2.1B | $4.7B | ||
| Q3 24 | $2.0B | $4.7B | ||
| Q2 24 | $1.9B | $4.2B | ||
| Q1 24 | $1.9B | $3.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $83.6M | $448.3M |
| Free Cash FlowOCF − Capex | $77.3M | $431.0M |
| FCF MarginFCF / Revenue | 25.8% | 54.7% |
| Capex IntensityCapex / Revenue | 2.1% | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $201.2M | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $83.6M | $448.3M | ||
| Q3 25 | $59.2M | $250.6M | ||
| Q2 25 | $35.1M | $211.1M | ||
| Q1 25 | $48.4M | $179.4M | ||
| Q4 24 | $49.8M | $331.3M | ||
| Q3 24 | $41.1M | $203.6M | ||
| Q2 24 | $19.9M | $173.4M | ||
| Q1 24 | $32.4M | $142.1M |
| Q4 25 | $77.3M | $431.0M | ||
| Q3 25 | $48.7M | $190.6M | ||
| Q2 25 | $31.6M | $138.9M | ||
| Q1 25 | $43.7M | $164.4M | ||
| Q4 24 | $40.5M | $314.3M | ||
| Q3 24 | $26.7M | $154.2M | ||
| Q2 24 | $13.1M | $137.8M | ||
| Q1 24 | $20.4M | $111.2M |
| Q4 25 | 25.8% | 54.7% | ||
| Q3 25 | 17.0% | 26.5% | ||
| Q2 25 | 11.1% | 20.5% | ||
| Q1 25 | 15.6% | 25.4% | ||
| Q4 24 | 14.5% | 50.1% | ||
| Q3 24 | 10.1% | 26.0% | ||
| Q2 24 | 5.2% | 24.9% | ||
| Q1 24 | 8.3% | 21.2% |
| Q4 25 | 2.1% | 2.2% | ||
| Q3 25 | 3.7% | 8.3% | ||
| Q2 25 | 1.2% | 10.6% | ||
| Q1 25 | 1.7% | 2.3% | ||
| Q4 24 | 3.3% | 2.7% | ||
| Q3 24 | 5.4% | 8.3% | ||
| Q2 24 | 2.7% | 6.4% | ||
| Q1 24 | 4.8% | 5.9% |
| Q4 25 | — | — | ||
| Q3 25 | 3.29× | — | ||
| Q2 25 | 30.38× | — | ||
| Q1 25 | 84.00× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 9.07× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
