Zscaler, Inc. (ZS) Presents at Morgan Stanley Technology, Media & Telecom Conference (Transcript)

Zscaler, Inc. (NASDAQ:ZS) Morgan Stanley Technology, Media & Telecom Conference March 6, 2023 11:00 AM ET

Company Participants

Jay Chaudhry - Chairman, Founder, and Chief Executive Officer
Remo Canessa - Chief Financial Officer

Conference Call Participants

Hamza Fodderwala - Morgan Stanley

Hamza Fodderwala

All right. Well, good morning, everybody. My name is Hamza Fodderwala; I am the U.S. cybersecurity analyst, here at Morgan Stanley. And welcome to the 2023 Morgan Stanley TMT conference. I'm sure it's going to be a great week. To kick things off, we have the team of Zscaler. We have the pleasure of having Jay Chaudhry, CEO, Chairman, and Founder, as well as Remo Canessa, the CFO of Zscaler. And before I begin, for informed disclosure, please see the Morgan Stanley research disclosure Web site at www.morganstanley.com/researchdisclosures. I'm going to have to say that a thousand times this week.

Well, welcome, gentlemen. Thank you so much for being here. Maybe I just wanted to start off levels, that you guys reported earnings last week.

Question-and-Answer Session

Q - Hamza Fodderwala

I was wondering if you'd just quickly recap the results, what is sort of the state of the union in terms of overall macro demand picture, what were some of the positives, and perhaps some of the challenges coming the quarter?

Jay Chaudhry

Right. I'll start, and Remo, you can add on. Yes, macro is getting [probably true] (ph), there's more scrutiny. But overall, if you look at from revenue or sales point of view, you think of two things. Number one, due to tight environment, is there enough demand? Generally, hard times make demand soft. We are seeing very high degree engagement with our customers. Now why is that? That's because, number one, all CIOs, CSOs do care about cyber. Cyber interest is not going down. Number two, if CIOs understand that they can save money, reduce cost, they're willing to engage. It's because of these two reasons we see good demand, we've seen