Zoom Communications (ZM)
Connects meetings, calls, customer service, and employee communications in an AI-assisted cloud platform.
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Zoom is the video-meeting company trying to become the whole communications kit a business runs on — its phone lines, its customer-service desks, its staff app, its AI helpers. Meetings still pay for nearly everything and barely grow; the newer lines grow quickly from small starts. An early stake in an AI lab can now swing reported profit more than the operating business does.
Item facts: FY2026 · year ended Jan 31, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
7 in detail · 12 more below
Zoom Workplace
The meetings-and-chat suite people mean when they say Zoom — close to seven-tenths of sales, and growing barely at all. Company-wide, about $4.5 billion of signed contracts is still waiting to be delivered, up 14%. Watch whether newer products, not meetings, carry the growth.
Competes with Microsoft Teams (Microsoft) · Webex Suite (Cisco) · Google Meet / Workspace (Alphabet)
In plain English
A subscription to a room on the internet where people talk, share screens and type to each other, plus the small tools hanging off it — group chat, notes, whiteboards, short recorded clips.
Two kinds of buyer pay. One is a person with a credit card — a tutor, a coach, a small agency — at roughly fourteen to eighteen dollars a month each. The other is a company signing a yearly contract for thousands of people, then adding phone lines or a service desk later. Close to four in every ten Zoom dollars still arrive by credit card, and that side is not growing: it is managed with price increases and watched through how many people cancel each month.
Zoom AI Companion & Custom AI Companion
The assistant that writes the meeting summary — given away with paid accounts to protect the price of a seat. The money is a $12-a-month upgrade; people using paid AI features grew 125%. Watch the computing bill it runs up.
Competes with Microsoft 365 Copilot (Microsoft) · Gemini in Google Workspace (Alphabet) · Webex AI Assistant (Cisco)
In plain English
Think of a notetaker who sits in every meeting: it writes the summary, lists who agreed to do what, and answers questions about what was said.
Zoom includes the basic version with any paid account — a deliberate jab at rivals charging thirty dollars or more per person a month for something similar. The paid step up, twelve dollars a month per person, wires the assistant into a company's own documents and lets teams build their own helpers. So the free layer defends the price of an ordinary seat while only a slice of users pays extra. Every answer costs Zoom computing time, and a usage spike last quarter already nibbled at margins.
Zoom Phone
Business phone lines delivered over the internet, past 10 million paid seats and growing in the teens while the whole company grows about 4%. All ten of last quarter's biggest wins were taken off a rival. Watch whether that keeps working.
Competes with Webex Calling (Cisco) · Teams Phone (Microsoft) · RingEX (RingCentral)
In plain English
Dial tone, without the phone system in the basement. A company retires the switch cabinet it has owned for years and rents its numbers, extensions and voicemail from Zoom instead, usually on the same bill as its meetings.
This is a swap market rather than a new one — almost every business already has phones, so growth means winning a rival's contract at renewal time. One Fortune 10 customer moved 140,000 people over from Cisco's calling service; a global bank runs about 150,000 seats. Each seat costs a small amount per month and tends to stay for years: the unglamorous line that quietly pays.
Zoom Contact Center & Virtual Agent
Software for customer-service teams: the agent's screen, and the bot that answers first. Management's fastest-growing line, but at roughly a twentieth of revenue the big percentages come off a small base. Watch whether AI keeps making deals larger.
Competes with CXone Mpower (NICE) · Genesys Cloud CX (Genesys) · Intelligent CX Platform (Five9) · Amazon Connect (AWS)
In plain English
When you call a company about a late parcel, somebody picks up with your order already on their screen. That screen, the queue behind it and the chatbot that tries to handle you first — Zoom rents all three, from about sixty-nine dollars per agent per month.
Zoom only started selling this in 2022, so every customer is one persuaded away from an established vendor. Spain's tax agency put more than twenty thousand agents on it, Zoom's largest deal of this kind. Nine of the ten biggest such deals last quarter included paid AI, which makes each one bigger, and the pitch leans on the customer already using Zoom for meetings.
Workvivo
The staff app — company noticeboard, announcements, thank-yous — aimed at workers who have no desk. It crossed $100 million of yearly subscriptions last quarter, about one part in fifty of Zoom. Watch what follows the Meta migration wave.
Competes with Staffbase employee app (Staffbase) · Viva Engage (Microsoft) · Simpplr intranet (Simpplr)
In plain English
Picture the noticeboard in the breakroom — shift news, a new-hire welcome, a thank-you pinned up — moved onto a phone, so a nurse or a warehouse picker sees it without an office email account.
Employers pay for it by the year, and the deals are mid-sized: a hundred million dollars of annual subscriptions spread across roughly twelve hundred customers works out near eighty thousand dollars each. A large slice of that base arrived by one route — Meta is retiring its own staff app and pointed customers at Workvivo as the place to move. That group of movers is finite, and Zoom has said it is already lapping it.
Zoom Revenue Accelerator & Common Room
Tools that listen to sales calls and tell the seller what to do next, now bundled with a bought-in buyer-research service as a "Revenue OS". Too small to size — the finance chief declined to. Watch whether bundling beats Gong.
Competes with Revenue Intelligence Platform (Gong) · Clari + Salesloft (Clari) · Agentforce Sales (Salesforce)
In plain English
Every sales call a company makes on Zoom is already being recorded. This turns those recordings into coaching notes, a view of which deals are real, and nudges about who to ring next.
Zoom bought Common Room, which pieces together signals about which buyers are warming up, and in September packaged it with the call analysis plus two new parts: one that sends multi-step outreach, one that forecasts the quarter. Sales teams pay for the bundle on top of their ordinary Zoom seats. The pitch is convenience, since the calls run on Zoom anyway — but the specialists here got there first, and Zoom has put no number on it.
Anthropic stake (Zoom Ventures)
A minority holding in the AI lab Anthropic, carried near $3.1 billion after an outlay reported at about $51 million in 2023. It threw off $1.6 billion of paper gains in one quarter, five times that quarter's operating profit. Watch that it is paper.
Competes with GPT models (OpenAI) · Gemini models (Alphabet)
In plain English
Back in 2023 Zoom put a modest sum into Anthropic, the AI lab behind Claude, and that holding now sits on Zoom's books at billions. It pays no dividend and sells nothing.
What it does is move the profit line. Anthropic's price resets whenever it raises money privately, and Zoom writes the new value straight into its results — which is why a company with roughly five billion dollars of sales can report profit far larger than the business itself earns. Anthropic is a supplier too, feeding models into Zoom's assistant, though Zoom deliberately mixes in other model makers alongside it.
Zoom WorkplaceThe meetings-and-chat suite people mean when they say Zoom — close to seven-tenths of sales, and growing barely at all. Company-wide, about $4.5 billion of signed contracts is still waiting to be delivered, up 14%. Watch whether newer products, not meetings, carry the growth.The meetings-and-chat suite people mean when they say Zoom — close to seven-tenths of sales, and growing barely at all. Company-wide, about $4.5 billion of signed contracts is still waiting to be delivered, up 14%. Watch whether newer products, not meetings, carry the growth.
In plain English
A subscription to a room on the internet where people talk, share screens and type to each other, plus the small tools hanging off it — group chat, notes, whiteboards, short recorded clips.
Two kinds of buyer pay. One is a person with a credit card — a tutor, a coach, a small agency — at roughly fourteen to eighteen dollars a month each. The other is a company signing a yearly contract for thousands of people, then adding phone lines or a service desk later. Close to four in every ten Zoom dollars still arrive by credit card, and that side is not growing: it is managed with price increases and watched through how many people cancel each month.
Competes with Microsoft Teams (Microsoft) · Webex Suite (Cisco) · Google Meet / Workspace (Alphabet)
Zoom AI Companion & Custom AI CompanionThe assistant that writes the meeting summary — given away with paid accounts to protect the price of a seat. The money is a $12-a-month upgrade; people using paid AI features grew 125%. Watch the computing bill it runs up.The assistant that writes the meeting summary — given away with paid accounts to protect the price of a seat. The money is a $12-a-month upgrade; people using paid AI features grew 125%. Watch the computing bill it runs up.
In plain English
Think of a notetaker who sits in every meeting: it writes the summary, lists who agreed to do what, and answers questions about what was said.
Zoom includes the basic version with any paid account — a deliberate jab at rivals charging thirty dollars or more per person a month for something similar. The paid step up, twelve dollars a month per person, wires the assistant into a company's own documents and lets teams build their own helpers. So the free layer defends the price of an ordinary seat while only a slice of users pays extra. Every answer costs Zoom computing time, and a usage spike last quarter already nibbled at margins.
Competes with Microsoft 365 Copilot (Microsoft) · Gemini in Google Workspace (Alphabet) · Webex AI Assistant (Cisco)
Zoom PhoneBusiness phone lines delivered over the internet, past 10 million paid seats and growing in the teens while the whole company grows about 4%. All ten of last quarter's biggest wins were taken off a rival. Watch whether that keeps working.Business phone lines delivered over the internet, past 10 million paid seats and growing in the teens while the whole company grows about 4%. All ten of last quarter's biggest wins were taken off a rival. Watch whether that keeps working.
In plain English
Dial tone, without the phone system in the basement. A company retires the switch cabinet it has owned for years and rents its numbers, extensions and voicemail from Zoom instead, usually on the same bill as its meetings.
This is a swap market rather than a new one — almost every business already has phones, so growth means winning a rival's contract at renewal time. One Fortune 10 customer moved 140,000 people over from Cisco's calling service; a global bank runs about 150,000 seats. Each seat costs a small amount per month and tends to stay for years: the unglamorous line that quietly pays.
Competes with Webex Calling (Cisco) · Teams Phone (Microsoft) · RingEX (RingCentral)
Zoom Contact Center & Virtual AgentSoftware for customer-service teams: the agent's screen, and the bot that answers first. Management's fastest-growing line, but at roughly a twentieth of revenue the big percentages come off a small base. Watch whether AI keeps making deals larger.Software for customer-service teams: the agent's screen, and the bot that answers first. Management's fastest-growing line, but at roughly a twentieth of revenue the big percentages come off a small base. Watch whether AI keeps making deals larger.
In plain English
When you call a company about a late parcel, somebody picks up with your order already on their screen. That screen, the queue behind it and the chatbot that tries to handle you first — Zoom rents all three, from about sixty-nine dollars per agent per month.
Zoom only started selling this in 2022, so every customer is one persuaded away from an established vendor. Spain's tax agency put more than twenty thousand agents on it, Zoom's largest deal of this kind. Nine of the ten biggest such deals last quarter included paid AI, which makes each one bigger, and the pitch leans on the customer already using Zoom for meetings.
Competes with CXone Mpower (NICE) · Genesys Cloud CX (Genesys) · Intelligent CX Platform (Five9) · Amazon Connect (AWS)
WorkvivoThe staff app — company noticeboard, announcements, thank-yous — aimed at workers who have no desk. It crossed $100 million of yearly subscriptions last quarter, about one part in fifty of Zoom. Watch what follows the Meta migration wave.The staff app — company noticeboard, announcements, thank-yous — aimed at workers who have no desk. It crossed $100 million of yearly subscriptions last quarter, about one part in fifty of Zoom. Watch what follows the Meta migration wave.
In plain English
Picture the noticeboard in the breakroom — shift news, a new-hire welcome, a thank-you pinned up — moved onto a phone, so a nurse or a warehouse picker sees it without an office email account.
Employers pay for it by the year, and the deals are mid-sized: a hundred million dollars of annual subscriptions spread across roughly twelve hundred customers works out near eighty thousand dollars each. A large slice of that base arrived by one route — Meta is retiring its own staff app and pointed customers at Workvivo as the place to move. That group of movers is finite, and Zoom has said it is already lapping it.
Competes with Staffbase employee app (Staffbase) · Viva Engage (Microsoft) · Simpplr intranet (Simpplr)
Zoom Revenue Accelerator & Common RoomTools that listen to sales calls and tell the seller what to do next, now bundled with a bought-in buyer-research service as a "Revenue OS". Too small to size — the finance chief declined to. Watch whether bundling beats Gong.Tools that listen to sales calls and tell the seller what to do next, now bundled with a bought-in buyer-research service as a "Revenue OS". Too small to size — the finance chief declined to. Watch whether bundling beats Gong.
In plain English
Every sales call a company makes on Zoom is already being recorded. This turns those recordings into coaching notes, a view of which deals are real, and nudges about who to ring next.
Zoom bought Common Room, which pieces together signals about which buyers are warming up, and in September packaged it with the call analysis plus two new parts: one that sends multi-step outreach, one that forecasts the quarter. Sales teams pay for the bundle on top of their ordinary Zoom seats. The pitch is convenience, since the calls run on Zoom anyway — but the specialists here got there first, and Zoom has put no number on it.
Competes with Revenue Intelligence Platform (Gong) · Clari + Salesloft (Clari) · Agentforce Sales (Salesforce)
Anthropic stake (Zoom Ventures)A minority holding in the AI lab Anthropic, carried near $3.1 billion after an outlay reported at about $51 million in 2023. It threw off $1.6 billion of paper gains in one quarter, five times that quarter's operating profit. Watch that it is paper.A minority holding in the AI lab Anthropic, carried near $3.1 billion after an outlay reported at about $51 million in 2023. It threw off $1.6 billion of paper gains in one quarter, five times that quarter's operating profit. Watch that it is paper.
In plain English
Back in 2023 Zoom put a modest sum into Anthropic, the AI lab behind Claude, and that holding now sits on Zoom's books at billions. It pays no dividend and sells nothing.
What it does is move the profit line. Anthropic's price resets whenever it raises money privately, and Zoom writes the new value straight into its results — which is why a company with roughly five billion dollars of sales can report profit far larger than the business itself earns. Anthropic is a supplier too, feeding models into Zoom's assistant, though Zoom deliberately mixes in other model makers alongside it.
Competes with GPT models (OpenAI) · Gemini models (Alphabet)
Named in filings, launches and programs
- Zoom Events, Sessions & WebinarsProduct linePaid virtual and hybrid event products named in the annual filing; a low-single-digit slice of sales, with no seat count or growth rate given on recent calls.
- Zoom Rooms and WorkspacesProduct lineSoftware for the conference room and for booking desks; part of the suite, and part of what big customers renew.
- Team Chat, Docs, Whiteboard, ClipsProductThe typing-and-writing surfaces inside Workplace; Team Chat's monthly users were up 20% at the last count management gave.
- My NotesProduct · RampingA note-taking app management called a breakout product, and one of the ways it hopes to charge self-serve customers for AI.
- ZVA Receptionist, Agent Architect, Agent Performance SuiteProductTooling around the service bot: a phone receptionist, a builder for custom agents, and a way to grade how the agents perform.
- ZRA Elite, Engage and ForecastProduct · AnnouncedThe new sales modules unveiled in September 2026 — a premium tier, multi-step outreach and quarter forecasting — sold inside the Revenue OS bundle.
- Workvivo HQ and HQ AgentProduct · RampingAn AI-driven digital head office layered on the staff app, launched this fiscal year; the retailer On is an early user.
- BrightHireBrandA hiring-interview intelligence business bought in December 2025; Zoom's acquisition spending that year came to $119.8 million.
- Zoom Custom AvatarProductA stand-in cartoon of yourself for meetings; management used it to deliver every prepared remark on the August 2026 earnings call.
- AWS Marketplace listingEcosystemWorkplace, Contact Center and Workvivo can be bought through Amazon's software store; Amazon is also Zoom's named preferred cloud supplier.
- Mitel partnershipEcosystemA route to roughly 70 million people still on Mitel's in-building phone systems, who are candidates to move to Zoom Phone.
- Undisclosed mega-contractsCustomer programA 140,000-seat phone deal, a bank at about 150,000 seats, a 15,000-agent service desk — yet no single customer reaches a tenth of revenue.
Zoom Events, Sessions & WebinarsProduct line
Paid virtual and hybrid event products named in the annual filing; a low-single-digit slice of sales, with no seat count or growth rate given on recent calls.
Zoom Rooms and WorkspacesProduct line
Software for the conference room and for booking desks; part of the suite, and part of what big customers renew.
Team Chat, Docs, Whiteboard, ClipsProduct
The typing-and-writing surfaces inside Workplace; Team Chat's monthly users were up 20% at the last count management gave.
My NotesProduct · Ramping
A note-taking app management called a breakout product, and one of the ways it hopes to charge self-serve customers for AI.
ZVA Receptionist, Agent Architect, Agent Performance SuiteProduct
Tooling around the service bot: a phone receptionist, a builder for custom agents, and a way to grade how the agents perform.
ZRA Elite, Engage and ForecastProduct · Announced
The new sales modules unveiled in September 2026 — a premium tier, multi-step outreach and quarter forecasting — sold inside the Revenue OS bundle.
Workvivo HQ and HQ AgentProduct · Ramping
An AI-driven digital head office layered on the staff app, launched this fiscal year; the retailer On is an early user.
BrightHireBrand
A hiring-interview intelligence business bought in December 2025; Zoom's acquisition spending that year came to $119.8 million.
Zoom Custom AvatarProduct
A stand-in cartoon of yourself for meetings; management used it to deliver every prepared remark on the August 2026 earnings call.
AWS Marketplace listingEcosystem
Workplace, Contact Center and Workvivo can be bought through Amazon's software store; Amazon is also Zoom's named preferred cloud supplier.
Mitel partnershipEcosystem
A route to roughly 70 million people still on Mitel's in-building phone systems, who are candidates to move to Zoom Phone.
Undisclosed mega-contractsCustomer program
A 140,000-seat phone deal, a bank at about 150,000 seats, a 15,000-agent service desk — yet no single customer reaches a tenth of revenue.