Zoom Video Communications ended 2020 with sharply higher revenues and profit, for both the fiscal full year and fourth quarter to end-January, helped by strong demand for its products from home workers amid the coronavirus pandemic. All figures were again much higher than forecast, with Zoom saying it sees even better numbers going forward.
Revenues for Q4 jumped 369 percent from the year before to USD 882.5 million, while the operating profit leaped to USD 256.1 million from 10.6 million the year earlier. Adjusted operating profit jumped to USD 360.9 million from 38.4 million. The net profit climbed to USD 260.4 million or USD 0.87 per share, from 15.3 million and 0.05 per share, with adjusted EPS reaching 1.22 from 0.15. The operating cash flow rose to USD 399.4 million from 36.6 million, putting free cash flow at USD 377.9 million from 26.6 million. The company ended the year with USD 4.244 billion in cash, from 1.9 billion at end-October.
Zoom ended the quarter with 467,100 customers with more than 10 employees, from 433,700 in the previous quarter and up 470 percent year-on-year. A total of 1,644 customers contributed over USD 100,000 to trailing 12-month revenue, from 1,289 in Q3 and 156 percent higher than the year before.
For the full year, revenues went 326 percent higher to USD 2.651 billion, with the operating profit increasing to USD 659.8 million from 12.7 million and the adjusted operating profit advancing to USD 983.3 million from 88.7 million. The net profit lifted to USD 671.5 million or USD 2.25 per share, from 21.7 million or 0.09 per share. Adjusted EPS went up to USD 3.34 from 0.35 per share.
Looking towards its fiscal first quarter, the company is guiding for revenues of USD 900-905 million, an adjusted operating profit of USD 295-300 million and adjusted diluted EPS at USD 0.95-0.97. For the full-year, revenues are seen at USD 3.760-3.780 billion, the adjusted operating profit at USD 1.125-1.145 billion and adjusted diluted EPS at USD 3.59-3.65.
