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ZS Current Contract Liabilities

Current Contract Liabilities

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As of Q2'26 (2026-01-31), ZS reported current contract liabilities of USD 1.98B, reflecting a notable decrease from the previous quarter’s USD 2.35B. This latest data point marks a downward shift after reaching a peak in Q4'25. Over the period from Q3'23 to Q2'26, current contract liabilities for ZS generally exhibited an upward trend, rising from USD 1.18B to a high of USD 2.47B in Q4'25. However, the last two quarters show a reversal, with liabilities declining to USD 1.98B by Q2'26. This suggests a period of strong growth followed by a recent contraction, indicating potential changes in contract activity or revenue recognition patterns.