Peak NRR of 127% in FY-2021. Latest is 115% - that's -12pp from peak.
Zscaler is above the Security Public median by +8pp (cell median: 107%)
Zscaler (ZS) is a security company at the public stage. As of its most recent disclosure (FY2026-Q4), Zscaler reported a Net Revenue Retention rate of 115% - a strong result for B2B SaaS at this segment.
Zscaler's NRR peaked at 127% in FY-2021, 12pp above today's level. Over the past three years, the metric has contracted by 10pp.
Within its peer set (security companies at public stage in the $100k-$500k acv band), Zscaler's NRR is above the cell median of 107%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
Revenue, ARR, and team-size denominators for the productivity ratios.
Forward-booked revenue by maturity. Renewal pipeline visibility.
Support tiers: premium deployment assistance · support
CS team segments: Strategic · Enterprise · SMB
CSM model: account-named
Education programs: Zenith Live
Customer Advisory Board: Yes
Computed from the data above. Shows where value comes from and where leakage hides.
Named CS initiatives across recent disclosures (newest first).
New deployment model for Zero Trust Cloud that allows customers to route traffic via an endpoint service.
"Zero Trust Gateway is a new deployment model for Zero Trust Cloud that dramatically improves operational efficiency."
Gives customers with multi-year commitments the flexibility to activate or swap modules without new procurement.
"Z-Flex gives customers with multi-year commitments the flexibility to activate or swap modules"
Integrated solution to secure the use of AI and agentic operations.
"AI Protect, our recently introduced solution to secure the use of AI and agentic operations."
Flexible pricing program for strategic multi-year deals to enable seamless adoption of new product modules.
"introduced our ZFlex program less than two quarters ago. In Q4, this program generated over $100 million in TCV"
New security solution for AI applications and intent-based attacks.
"recently launched Zscaler AI Guard, which is being tested by a significant number of large customers."
Surgical field campaigns to educate customers on eliminating firewalls and legacy appliances.
"We are leaning into the opportunity presented by the refresh cycle with surgical field campaigns to educate our customers"
Embedding Zscaler into GSI network and security transformation practices.
"We are seeing a sea change in GSI engagements compared to a year ago, as an increasing number of them are embedding Zscaler"
Strategic decision to shift sales motion from opportunity-based selling to account-centric selling.
"Last year, we made the strategic decision to shift our sales motion from opportunity-based selling to account-centric"
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Increased scrutiny and longer approval processes for large transactions due to uncertain economic environment.
"We continue to see customer scrutiny of and elongated approval processes for transactions, particularly larger deals"
Elevated churn levels in the acquired Red Canary MDR business.
"Post-acquisition, Red Canary's churn has been elevated."
MDR providers (like Red Canary) historically have higher churn rates than Zscaler's core business.
"MDR providers have historically had higher churn rates in our business"
Ongoing customer scrutiny of large deals and tight IT budgets.
"Our Q2 results exceeded our guidance... even with ongoing customer scrutiny of large deals."
Selling bigger bundles upfront reduces the expansion math for future NRR.
"selling bigger bundles, selling multiple pillars from the start... can reduce our dollar-based net retention rate"
Ongoing customer scrutiny of large deals due to general economic conditions.
"Our Q1 results exceeded our guidance on growth and profitability, even with ongoing customer scrutiny of large deals."
Curated quotes about customer outcomes, retention, renewals.
"Honestly, one of the number one things I look at from a go-to-market point of view is how well is Zscaler deployed, how much is not deployed. It is a big focus on that."
"First of all, we have a pretty strong track record of upsells, and I expect that that is going to continue into 2027. You may recall that we shared we had a net retention of 115% in Q1, and that has been fairly stable the last several quarters."
"NRR, although it is not a metric that we provide each and every quarter, it was consistent each quarter this year at 115%. So we have seen very consistent performance in terms of our upsell motion"
"The customer engagement with us are not transactional. They're generally long-term. Once they deploy us, they invest. They want to stay with us for the longer time."
"Our results demonstrate that our approach is resonating as we attract new customers and expand with our existing customers, and we see ample runway for long-term growth."
"Looking ahead, we remain focused on driving profitable growth across multiple vectors, including product innovation, go-to-market, and customer expansion."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Zscaler appears on 6 of our retention leaderboards.
Free to embed on your blog or board deck. Includes a small backlink to cust.co.
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| Period | NRR | GRR | Source type | Filing |
|---|---|---|---|---|
| FY2026-Q4 | 115% | - | earnings-call-transcript | source ↗ |
| FY2025-Q4 | 114% | - | 10-K | source ↗ |
| FY2025-Q3 | 114% | - | 10-Q-mdna | source ↗ |
| FY2025-Q2 | 115% | - | earnings-call-transcript | source ↗ |
| FY2025-Q1 | 114% | - | 10-Q-mdna | source ↗ |
| FY2024-Q4 | 116% | - | 10-K | source ↗ |
| FY2024-Q3 | 116% | - | 10-Q-mdna | source ↗ |
| FY2024-Q1 | 125% | - | 10-Q-mdna | source ↗ |
| FY-2023 | 121% | - | 10-K | source ↗ |
| FY2023-Q4 | 125% | - | 10-Q-mdna | source ↗ |
| FY2023-Q3 | 125% | - | 10-Q-mdna | source ↗ |
| FY2023-Q2 | 125% | - | 10-Q-mdna | source ↗ |
| FY-2022 | 125% | - | 10-K | source ↗ |
| FY-2021 | 127% | - | 10-Q-mdna | source ↗ |
| FY2020-Q4 | 122% | - | 10-Q-mdna | source ↗ |
| FY-2020 | 116% | - | 10-Q-mdna | source ↗ |
| FY2019-Q4 | 120% | - | 10-Q-mdna | source ↗ |
| FY-2019 | 118% | - | 10-Q-mdna | source ↗ |
| FY-2018 | 117% | - | 10-K | source ↗ |
| FY2018-Q3 | 125% | - | 10-K | source ↗ |
Generate a live retention report against Zscaler and your full peer cell. Ungated. Downloadable as PDF.