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In Q4'25, ZS's revenue from channel partners reached $631M USD, while direct customers contributed $88M USD, resulting in a combined total of $719M USD for the quarter. This latest data point reflects sustained growth in both segments, with channel partners maintaining their dominant position in the revenue mix. Over the period from Q1'23 to Q4'25, channel partner revenue exhibited consistent upward momentum, increasing from $329M USD to $631M USD with an average quarterly growth of approximately 12%, underscoring their role as the primary driver of ZS's expansion. Direct customer revenue also trended strongly higher, rising from $26M USD to $88M USD at a faster clip of about 23% per quarter, though it remains a smaller portion of the overall pie; the stacked bar chart highlights a stable, growing distribution favoring channel partners, with no significant declines or volatility observed.