- The video-conferencing upstart, which has benefited hugely from people staying at and working from home during the coronavirus pandemic, also forecasts aggressive growth this year.
- Zoom's stock price has tripled this year, boosting its market capitalization to about $59 billion.
- Here are five charts showing Zoom's explosive gains.
- Visit Business Insider's homepage for more stories .
Zoom expects nearly 200% revenue growth
Zoom predicts it will nearly double its revenue to between $1.78 billion and $1.8 billion this financial year.
It grew revenue by almost 170% year-on-year to $328 million last quarter, and expects between $495 million and $500 million this quarter.
Zoom forecasts profit growth of more than 300%
Zoom expects to more than quadruple its non-GAAP operating income to between $355 million and $380 million this financial year.
It grew that profit metric more than six-fold year-on-year to about $55 million last quarter.
Zoom's business customers surged last quarter
Zoom more than tripled its customers with more than 10 employees last quarter, as thousands of businesses signed up to help their workers communicate during lockdowns.
The number of customers in that category ballooned from about 82,000 at the end of October to north of 265,000 at the end of January.
Zoom added nearly 130 high-paying customers last quarter
Zoom has steadily grown its number of high-paying customers.
It added 128 customers that contributed more than $100,000 to its revenue for the 12 months to April 30, raising the total to 769.
If those customers all pay the minimum of $100,000 to Zoom this year, they will generate nearly $77 million in revenue for the company.
Zoom stock has rocketed this year
Investors are betting Zoom will be one of the few beneficiaries from the pandemic. They have tripled its stock price from about $69 at the start of January to $208 as of June 3.
The increase has boosted its market capitalization to about $59 billion, giving it roughly the same market value as Target.
- BANK OF AMERICA: Buy these 13 under-the-radar tech stocks poised to outperform amid flaring China tensions and lasting pandemic damage
- Famed economist David Rosenberg says investors are falling into a classic market trap that's historically preceded a further meltdown and warns 'there's not going to be much of a recovery'
- The European Union's $826 billion stimulus plan to battle the coronavirus is 'too small and too late,' analysts say