Zoom ZMUS 2027财年第二季度业绩电话会

发布时间：2026-08-26 一、AI总结内容 一、核心要点 1. Zoom 2027财年第二季度总营收同比增长4.9%至12.8亿美元，超出此前指引高端700万美元，企业业务营收同比增长7.8%，为近三年最高增速，占总营收比重达62%，同比提升2个百分点。 2. AI相关产品拉动增长：Workplace AI功能授权月活用户同比增长125%，Zoom CX ARR保持高两位数同比增速，Q2创下七位数ARR订单纪录，AI驱动的订单占比达90%；Zoom虚拟代理（ZVA）客户数同比增长超250%，支持多步骤工作流与人工客服转接。 3. 重点客户合作成果：美国大型科技公司续约Zoom Workplace，ARR增长190万美元；美国大型财富管理公司升级至Zoom Workplace企业高级版并全面部署Zoom Phone；北美大型建筑产品经销商QXO统一UCaaS与CCaaS系统，选择Zoom Phone与Zoom Contact Center；美国领先保险公司扩展Workvivo，Workvivo ARR突破1亿美元。 4. 并购整合进展：7月中旬完成Common Room收购，补充买方智能能力，已与Okta等客户实现签约扩展，团队整合进展顺利，早期业绩对总营收影响极小。 5. 管理层对三季度及全年业绩指引：三季度营收预计12.75亿-12.8亿美元，同比增长3.9%（中点）；全年营收预计50.85亿-50.95亿美元，同比增长4.5%（中点），上调全年自由现金流指引至17.8亿-18.2亿美元。二、风险与关注 1. 在线业务表现承压，Q2线上平均月度 churn 为2.9%，同比持平，全年在线业务增长指引略向下调整，主要受行业顶层线索动态影响。 2. 部分新业务模式尚处早期，结果可预测性较低，并购业务短期未达最优 margins，需后续整合释放价值。 三、后续关注点 1. 企业业务增长的可持续性，尤其是AI产品驱动的多产品平台拓展、客户净 retention率及长期边际表现。 2. AI计算成本管控效果，以及新推出的Zoommate、Zoom Revenue Accelerator等新产品线的市场接受度。 3. Common Room并购整合对营收与利润的长期贡献，以及Workvivo HQ等新产品的客户拓展进度。 4. 在线业务增长修复情况，以及整体宏观环境对企业IT支出的潜在影响。 二、音频原文（转写） Recording in progress. Hello, we will get started in just a minute. Hello everyone and welcome to Zoom's Q2 FY 2027 Earnings Release Webinar. Iwill now hand things over to Charles Epislage, H ead of Investor Relations. Charles, over to you.Thank you, Catherine. Hello everyone and welcome to Zoom's earnings webinar for the second quarter of fiscal year 2027. I'm joined today by Zoom's founder and CEO Eric Yuan and Zoom's CFO Michelle Chang. Today I'm giving my prepared remarks by Zoom. Custom Avatar and so will Eric and Michelle. After the scripted portion of the call,Eric and Michelle will be on camera live to answer your questions. Our earnings release was issued today after the market closed and may be downloaded from the Investor Relations page at investors dot zoom dot com. Also on this page, you'llbe able to find a copy of today's prepared remarks and a slide deck with financial highlights that along with our earnings release Include a reconciliation of GAAP to non-GAAP financial results. These measures should not be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP. During this call, we will make forward-looking statements. including statements regarding our financial outlook for the third quarter and full fiscal year 2027, Our expectations regarding financial and business trends. Impacts from the macroeconomic environment. our market position, stock repurchase program, opportunities, go-to-market initiatives, growth strategy and business aspirations, including our AI strategy and investmentsand product initiatives, including future product and future releases and the expected benefitsof such initiatives. These statements are only predictions that are based on what we believe today, and actual results may differ materially. These forward-looking statements are subject to risks and other factors that could affect our performance and financial results, which we discussin detail in our filings with the SEC, includingour annual report on Form 10-K and quarterly reports on Form 10-Q. Zoom assumes no obligation to update any forward-looking statements we may m ake on today's webinar. And with that, let me turn the discussion over to Eric, who is also giving his prepared remarks via Zoom Custom Avatar.Thank you, Charles. FY 27 continues to progresswell. Total revenue grew 4.9% with enterprise revenue growing 7.8% its strongest rate in three years. The enterprise acceleration was driven byour focused execution against our three priorities of elevating workplace with AI. Scaling AI First Customer Experience. and driving growth in new ai products This progress reflects our success in bringing our AI first system of action vision to life. helping customers reduce costs and create greater business value. That vision is grounded in Zoom Workplace. which we continue to enhance with ai Across Workplace and our broader communications platform, AI is becoming increasingly embedded in how users work throughout the communication and collaboration lifecycle. Licensed monthly active users of our AI features in workplace grew one hundred and twenty five percentyear over year. We are even more encouraged by the broadening engagement, which has expanded from reactive communication summaries into active querying and building workflows. Turning insightsinto action and conversations into outcomes. Our wins in Q2 speak to our growing ability to winas a system of action for modern work. We saw one of the largest US tech companies renew Zoom workplace in a deal that expanded its ARR by $1.9million. driven by the deep employee appreciation for the zoom meetings and rooms experience our ai vision and our ability to integrate and coexist with google workspace. With ARR growing inthe teens. Zoom phone continues to demonstrate its value both as a natural add-on. to Zoom workplace and increasingly as a driver to broader platform adoption. We saw both dynamics