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Zscaler
ZS · NASDAQCybersecurity Software
The economic chain
Follow the chain left → right, from inputs to end demand. Tap any company to trace its links.
Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
Cloud &computewhere the software runsData & talentinputstelemetry, threat intel,…Threatintelligencethe raw security signalAI modelsthe generative enginesVendorplatformsthe clouds vendors buildProduct linesmodules & familiesChannel &deliveryresellers, MSSPs, integra…Customerswho pays the subscriptionAMZNAmazonMSFTMicrosoftEQIXEquinixENGEngineering talentTLZThreatLabz intelAIOpenAI / AnthropicZSZscalerZIAZscaler Internet AccessZPAZscaler Private AccessZDXEmerging productsCHResellers & MSSPsSISystem integratorsENTEnterprises & govt
Company details
Market cap
~$45B
Revenue (FY25)
~$2.65B
Rev. growth
+22%
ARR
~$3.0B
Calc. billings
~$3.16B
Div yield
0%
Gross margin
~80%
Customers
8,000+
In plain English
Zscaler sits in the middle of the internet: instead of selling a firewall box, it routes a company's traffic through its own global cloud, checks every connection ('zero trust'), and only then lets it reach the app. That Zero Trust Exchange runs in 150+ data centres on rented hyperscaler and colocation capacity, and Zscaler is bolting AI — through buys like Avalor, Red Canary and SquareX — onto the same platform.
In simple terms
What Zscaler really sells
Zscaler sits in the middle of the internet: instead of selling a firewall box, it routes a company's traffic through its own global cloud, checks every connection ('zero trust'), and only then lets it reach the app. That Zero Trust Exchange runs in 150+ data centres on rented hyperscaler and colocation capacity, and Zscaler is bolting AI — through buys like Avalor, Red Canary and SquareX — onto the same platform.
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