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Zscaler (ZS) backlog: remaining performance obligations

How much revenue Zscaler already has under contract, how fast it converts, and who it is with.

Data as of .

Zscaler backlog history

$0$2B$4B$6BOct 2022Apr 2023Oct 2023Apr 2024Oct 2024Apr 2025Oct 2025Apr 2026Jul 2026Backlog (RPO)Trailing 12-month revenue
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter endBacklog (RPO)TTM revenueCoverageCustomer prepayments
31 Jul 2026$7.37B$3.35B2.2 yrs$2.48B
30 Apr 2026$6.46B$3.17B2.0 yrs$2.48B
31 Jan 2026$6.05B$3.00B2.0 yrs$2.36B
31 Oct 2025$5.93B$2.83B2.1 yrs$2.35B
31 Jul 2025$5.78B$2.67B2.2 yrs$2.47B
30 Apr 2025$4.98B$2.55B2.0 yrs$1.99B
31 Jan 2025$4.62B$2.42B1.9 yrs$1.88B
31 Oct 2024$4.41B$2.30B1.9 yrs$1.78B
31 Jul 2024$4.42B$2.17B2.0 yrs$1.90B
30 Apr 2024$3.82B$2.03B1.9 yrs$1.58B
31 Jan 2024$3.61B$1.90B1.9 yrs$1.50B
31 Oct 2023$3.49B$1.76B2.0 yrs$1.40B

Questions

What is Zscaler's backlog?
Zscaler reported $7.37B of remaining performance obligations at 31 Jul 2026, up 27% from a year earlier and up 14% from the previous quarter. That is 2.2 years of trailing revenue already under contract. Book-to-bill last quarter: 2.01.
How fast does Zscaler's backlog turn into revenue?
Over the last twelve months Zscaler recognised revenue equal to about 55% of the backlog it started each quarter with.

About these numbers

Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.