Zoom通讯 2025年度报告

FORM 10-K___________________________________________________________________ (MarkOne) ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the fiscal year ended January31, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 Zoom Communications, Inc. (Exact name of registrant as specified in its Charter)___________________________________________________________________ 55 Almaden Boulevard, 6thFloorSan Jose, California 95113(Address of principal executive offices and Zip Code)(888) 799-9666(Registrant’s telephone number, including area code)___________________________________________________________________ Securities registered pursuant to Section12(b) of the Act: Name of each exchange on which registered The Nasdaq Global Select Market Securities registered pursuant to section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding12months(or for such shorter period that the registrant was required to file such reports),and(2)has been subject to such filing requirements for the past90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of RegulationS-T (§232.405of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reportingunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correctionof an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’sexecutive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ Table of Contents The aggregate market value of the registrant's Class A common stock held by non-affiliates of the registrant, based on the closing price of a share of the registrant's Class Acommon stock on July 31, 2025 as reported by the Nasdaq Global Select Market on such date was approximately $19.8billion. This calculation does not reflect a determinationthat certain persons are affiliates of the registrant for any other purpose.As of February13, 2026, the number of shares of the registrant’s Class A common stock outstanding was 265,969,816 and the number of shares of the registrant’s Class B common stock outstanding was 28,697,070. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's definitive Proxy Statement relating to the 2026 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Report onForm 10-K to the extent stated herein. Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the registrant's fiscal year endedJanuary31, 2026. Auditor Name: KPMG LLP Auditor Location: San Francisco, California Auditor Firm ID: 185 TABLE OF CONTENTS Part I PageItem 1.Business6Item 1A.Risk Factors14Item 1B.Unresolved Staff Comments50Item 1C.Cybersecurity50Item 2.Properties51Item 3.Legal Proceedings51Item 4.Mine Safety Disclosures51Part IIItem 5.Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of EquitySecurities51Item 6.[Reserved]52Item 7