The latest data point for ZS's Operation Income in Q2'26 shows a loss of $51.8M USD, marking a significant widening from the $36.4M USD loss in Q1'26 and continuing the negative trend observed in recent quarters. Over the period from Q3'23 to Q2'26, Operation Income has remained consistently negative, starting with a $55.7M USD loss and fluctuating between $30.1M USD and $51.8M USD in absolute losses, with a notable temporary improvement to a smaller $3.0M USD loss in Q3'24 before deteriorating again. Year-over-year changes were positive through Q2'25, peaking at 94.6% improvement in Q3'24, but turned negative thereafter, with Q2'26 showing a -28.9% YoY decline, indicating growing pressures on operational profitability despite some earlier gains. The bar chart highlights the persistent deficits, while the overlaid YoY line reveals increasing volatility and a recent reversal in momentum.