Zoom Video Communications, Inc. (ZM): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de comunicación digital en rápida evolución, Zoom Video Communications se ha convertido en una fuerza transformadora, revolucionando cómo las empresas, los educadores y los profesionales se conectan a través de distancias globales. Al crear meticulosamente un modelo de negocio dinámico que combina tecnología de vanguardia con asociaciones estratégicas y ofertas de servicios innovadoras, Zoom no solo ha creado una plataforma de videoconferencia, sino un ecosistema de colaboración integral que se adapta a las complejas necesidades de las organizaciones modernas. Esta profunda inmersión en el lienzo de modelo de negocio de Zoom revela la intrincada mecánica detrás de su éxito fenomenal, desempacando los elementos estratégicos que los han impulsado de una startup a una potencia de comunicación global.

Zoom Video Communications, Inc. (ZM) - Modelo de negocios: asociaciones clave

Proveedores de infraestructura en la nube

Zoom mantiene asociaciones críticas con los principales proveedores de infraestructura en la nube:

Proveedor	Detalles de la asociación	Gasto anual
Servicios web de Amazon (AWS)	Socio de infraestructura de la nube primaria	$ 212.3 millones en 2023
Microsoft Azure	Soporte de infraestructura de nube secundaria	$ 87.6 millones en 2023

Fabricantes de equipos de telecomunicaciones

Asociaciones estratégicas con fabricantes de equipos de telecomunicaciones:

• Sistemas de Cisco
• Poly (anteriormente Polycom)
• Logitech

Socios de integración de software empresarial

Pareja	Tipo de integración	Impacto anual de ingresos
Salesforce	Integración CRM	$ 45.2 millones en 2023
Microsoft	Equipos e integración de Office 365	$ 98.7 millones en 2023

Desarrolladores de aplicaciones de terceros

Estadísticas del mercado de aplicaciones de zoom:

• Total App Marketplace Partners: 1,500+
• Desarrolladores activos mensuales: 750
• Participación anual de ingresos del desarrollador: $ 22.3 millones

Plataformas de capacitación educativa y corporativa

Pareja	Enfoque de asociación	Valor de colaboración anual
Cursera	Integración de aprendizaje en línea	$ 18.5 millones en 2023
LinkedIn Learning	Plataforma de capacitación profesional	$ 27.6 millones en 2023

Zoom Video Communications, Inc. (ZM) - Modelo de negocio: actividades clave

Desarrollo de la plataforma de comunicación de video

Zoom invirtió $ 340.2 millones en investigación y desarrollo en el año fiscal 2024. El desarrollo de la plataforma se centra en crear tecnologías de comunicación de video escalables.

Métrico de desarrollo	2024 estadísticas
Gastos anuales de I + D	$ 340.2 millones
Ingenieros de software	1.872 empleados
Actualizaciones de plataforma anual	12-15 lanzamientos principales

Ingeniería e innovación de software continuo

Zoom mantiene un enfoque de ingeniería de software robusto con estrategias de innovación específicas.

• Arquitectura de microservicios nativos de nube
• Integración de aprendizaje automático para la calidad del video
• Desarrollo de características impulsadas por IA

Mantenimiento de la infraestructura en la nube

Zoom opera una infraestructura global en la nube que admite millones de usuarios concurrentes.

Infraestructura métrica	Especificaciones 2024
Centros de datos globales	24 regiones en todo el mundo
Actas de la reunión diaria	3.3 billones de minutos
Usuarios concurrentes máximos	22.4 millones

Mejora de la tecnología de seguridad y cifrado

Zoom asigna recursos significativos a las tecnologías de ciberseguridad y cifrado.

• Protocolos de cifrado de extremo a extremo
• Implementación del modelo de seguridad de confianza cero
• Evaluación de vulnerabilidad continua

Atención al cliente y optimización de la experiencia del usuario

Zoom invierte en infraestructura integral de atención al cliente.

Métrico de soporte	2024 rendimiento
Personal de apoyo	2.450 empleados
Tiempo de respuesta promedio	37 minutos
Tasa de satisfacción del cliente	87.6%

Zoom Video Communications, Inc. (ZM) - Modelo de negocio: recursos clave

Tecnología de comunicación de video avanzada

La infraestructura de tecnología de comunicación de video de Zoom incluye:

• Tecnología WebRTC (comunicación en tiempo real web)
• Capacidades de códec de video HD
• Protocolos de cifrado de extremo a extremo

Métrica de tecnología	Especificación
Resolución máxima de video	1080p/4k
Participantes apoyados	Hasta 1,000 participantes
Optimización de ancho de banda	50-300 kbps por transmisión de video

Infraestructura de software basada en la nube

La infraestructura de la nube de Zoom comprende:

• Red de distribución de nubes globales
• Arquitectura de microservicios escalables
• Centros de datos de múltiples regiones

Infraestructura métrica	Especificación
Servidores de nubes totales	Más de 20,000 servidores
Centros de datos globales	Más de 15 regiones en todo el mundo
Actas de la reunión diaria	3.3 billones de minutos en 2022

Propiedad intelectual y patentes

La cartera de propiedades intelectuales de Zoom incluye:

• Patentes de comunicación de video
• Tecnologías de optimización de red
• Patentes de diseño de interfaz de usuario

Categoría de IP	Número
Patentes totales	87 patentes registradas
Aplicaciones de patentes pendientes	42 aplicaciones

Centros de datos globales e infraestructura de red

Detalles de la infraestructura de red:

• Red de servidor global distribuida
• Arquitectura de centro de datos redundante
• Conectividad de red de alta velocidad

Métrico de red	Especificación
Tiempo de actividad de la red	99.9999% confiabilidad
Regiones de redes globales	Más de 20 países

Ingeniería especializada y fuerza laboral técnica

Composición de la fuerza laboral:

• Ingenieros de software
• Especialistas en infraestructura de red
• Expertos en seguridad

Métrica de la fuerza laboral	Número
Total de empleados	7.405 (a partir de 2023)
Empleados de I + D	Aproximadamente 2.500
Personal de ingeniería	Aproximadamente 3,200

Zoom Video Communications, Inc. (ZM) - Modelo de negocio: propuestas de valor

Soluciones de videoconferencia confiables de alta calidad

Zoom ofrece videoconferencia con una resolución de video HD de hasta 1080p. A partir del cuarto trimestre de 2023, Zoom admite:

Calidad de video	Participantes máximos	Duración de la reunión
1080p HD	1,000 participantes	40 minutos (nivel gratis)
Video 4K	500 participantes	Ilimitado (niveles pagados)

Herramientas de comunicación multiplataforma fácil de usar

Zoom admite múltiples plataformas con aplicaciones nativas:

• Windows
• macosa
• Linux
• iOS
• Androide
• Navegadores web

Características de colaboración empresariales escalables

Las características empresariales incluyen:

Característica	Disponibilidad
Sign-On (SSO)	Plan empresarial
Integración del directorio de la empresa	Plan empresarial
Administración avanzada de usuarios	Plan empresarial

Alternativas de comunicación remota rentables

Estructura de precios de zoom a partir de 2024:

Plan	Costo mensual	Características clave
Basic	$0	Reuniones de 40 minutos
Pro	$ 14.99/mes	Reuniones de 24 horas
Negocio	$ 19.99/mes	Marca de la empresa
Empresa	$ 24.99/mes	Seguridad avanzada

Canales de comunicación seguros y cifrados

Las características de seguridad incluyen:

• Cifrado de extremo a extremo
• Cifrado AES de 256 bits
• Autenticación multifactor
• Salas de espera
• Controles del host

Zoom Video Communications, Inc. (ZM) - Modelo de negocios: relaciones con los clientes

Plataforma digital de autoservicio

Zoom ofrece una plataforma digital de autoservicio integral con las siguientes características:

Usuarios de cuentas básicas gratuitas	500 millones de usuarios registrados a partir de 2023
Gestión de cuentas de autoservicio	Disponible en 190 países
Opciones de actualización de la cuenta en línea	5 niveles de suscripción diferentes

Atención al cliente de Enterprise Dediced

Los canales de soporte empresarial incluyen:

• Soporte técnico 24/7
• Gerentes de cuentas dedicados para clientes empresariales
• Resolución de boletos de apoyo prioritario

Tamaño del equipo de atención al cliente empresarial	Más de 1.500 profesionales de apoyo
Tiempo de respuesta promedio	Menos de 4 horas

Foros de la comunidad y bases de conocimiento

Zoom mantiene amplios recursos en línea:

• Foro de la comunidad de Zoom con más de 250,000 miembros activos
• Base integral de conocimiento en línea
• Video Tutorial y Guías

Incorporación y entrenamiento personalizados

Sesiones de incorporación gratuitas	Disponible para clientes empresariales
Alcance del programa de capacitación	Más de 100,000 clientes empresariales capacitados anualmente

Actualizaciones regulares de productos y mejoras de características

Frecuencia de actualización del producto	Actualizaciones principales trimestrales
Nuevas características introducidas en 2023	17 mejoras principales de características
Inversión anual de I + D	$ 1.2 mil millones en 2023

Zoom Video Communications, Inc. (ZM) - Modelo de negocios: canales

Plataforma directa de ventas en línea

La plataforma de ventas en línea directa de Zoom generó $ 1.066 mil millones en ingresos para el cuarto trimestre de 2023. La plataforma permite a los clientes comprar suscripciones directamente a través del sitio web de Zoom.us con 14 niveles de precios diferentes que van desde planes gratuitos a nivel empresarial.

Canal de ventas	Ingresos anuales	Segmento de usuario
Plataforma directa en línea	$ 4.26 mil millones (2023)	Usuarios individuales y de SMB
Ventas empresariales	$ 2.14 mil millones (2023)	Grandes clientes corporativos

Equipo de ventas empresarial

El equipo de ventas empresariales de Zoom se dirige a grandes organizaciones con soluciones de comunicación personalizadas. En 2023, el segmento empresarial representaba el 50.3% de los ingresos totales de la compañía.

• Recuento de clientes empresariales: 216,400 (cuarto trimestre 2023)
• Valor promedio de contrato empresarial: $ 75,400 anualmente
• Tamaño del equipo de ventas empresarial: 742 representantes dedicados

Tiendas de aplicaciones móviles y de escritorio

Zoom distribuye aplicaciones a través de Apple App Store, Google Play Store y Microsoft Windows Store. Las descargas de aplicaciones superaron los 750 millones en 2023.

Plataforma	Descargas totales	Cuota de mercado
Apple App Store	342 millones	45.6%
Google Play Store	378 millones	50.4%

Marketing digital y publicidad

Zoom invirtió $ 186 millones en marketing digital y publicidad en 2023, dirigida a mercados de comunicación profesional y personal.

Redes de referencia de socios

Zoom mantiene 250 socios de integración de tecnología y 1.500 asociaciones de revendedores globales. Los ingresos generados por socios alcanzaron los $ 612 millones en 2023.

• Socios tecnológicos: 250
• Global Reseller Partners: 1.500
• Ingresos de socios: $ 612 millones

Zoom Video Communications, Inc. (ZM) - Modelo de negocios: segmentos de clientes

Pequeñas y medianas empresas

A partir del cuarto trimestre de 2023, Zoom reportó 204,100 clientes con más de 10 empleados. El segmento de empresas pequeñas y medianas representa aproximadamente el 58% de la base total de clientes de Zoom.

Categoría de tamaño del negocio	Número de clientes	Porcentaje de la base de clientes
Pequeñas empresas (10-99 empleados)	118,378	58%
Empresas medianas (100-499 empleados)	85,722	42%

Grandes corporaciones empresariales

En 2023, Zoom tenía 3,487 clientes que generaban más de $ 100,000 en ingresos anuales, lo que representa un crecimiento anual del 20%.

• Los clientes empresariales representan el 41% de los ingresos totales
• Valor promedio del contrato anual: $ 456,000
• Los 10 mejores clientes empresariales representan el 7.2% de los ingresos totales

Instituciones educativas

Zoom atiende a 7.400 instituciones educativas a nivel mundial a diciembre de 2023.

Tipo de institución	Número de instituciones
Escuelas K-12	4,600
Educación superior	2,800

Organizaciones de atención médica

En 2023, Zoom reportó 2.300 clientes de atención médica que usan su plataforma compatible con HIPAA.

• Ingresos del segmento de atención médica: $ 187 millones
• Valor promedio del contrato del cliente de atención médica: $ 81,000

Profesionales individuales y trabajadores remotos

Zoom tiene 22.4 millones de participantes en la reunión total a partir del cuarto trimestre de 2023.

Categoría de usuario	Número de usuarios
Usuarios de plan gratuitos	16.8 millones
Usuarios individuales pagados	5.6 millones

Zoom Video Communications, Inc. (ZM) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Zoom reportó gastos de investigación y desarrollo de $ 743.1 millones, lo que representa el 21.3% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$ 743.1 millones	21.3%
2022	$ 884.1 millones	24.3%

Mantenimiento de la infraestructura en la nube

Los costos de infraestructura en la nube de Zoom para 2023 fueron de aproximadamente $ 412.5 millones, lo que incluye gastos para:

• Operaciones del centro de datos
• Ancho de banda de red
• Mantenimiento del servidor
• Tarifas del proveedor de servicios en la nube

Inversiones de ventas y marketing

En el año fiscal 2023, los gastos de ventas y marketing de Zoom totalizaron $ 590.2 millones, lo que representa el 16.9% de los ingresos totales.

Año fiscal	Ventas & Gastos de marketing	Porcentaje de ingresos
2023	$ 590.2 millones	16.9%
2022	$ 665.4 millones	18.3%

Compensación de empleados

Los gastos totales de compensación de empleados de Zoom para el año fiscal 2023 fueron de $ 1.18 mil millones, lo que incluye:

• Salarios base
• Compensación basada en acciones
• Beneficios
• Bonificaciones

Atención al cliente e infraestructura técnica

La atención al cliente y los gastos de infraestructura técnica para 2023 ascendieron a $ 356.7 millones, cubriendo:

• Personal de soporte técnico
• Operaciones de la mesa de ayuda
• Herramientas de soporte técnico
• Mantenimiento de la infraestructura

Gastos operativos totales para el año fiscal 2023: $ 2.88 mil millones

Zoom Video Communications, Inc. (ZM) - Modelo de negocios: flujos de ingresos

Modelos de precios basados ​​en suscripción

El precio de suscripción de Zoom a partir del cuarto trimestre de 2023 incluye:

Tipo de plan	Precio mensual	Potencial de ingresos anual
Zoom básico	$0	$0
Plan pro	$149.90	$1,798.80
Plan de negocios	$199.90	$2,398.80
Plan empresarial	$250.90	$3,010.80

Acuerdos de licencia empresarial

Los ingresos por licencias empresariales de Zoom en 2023 alcanzaron $ 1.2 mil millones, representando el 47% de los ingresos anuales totales.

Ofertas de servicio freemium

• Límite de reunión de 40 minutos para cuentas gratuitas
• Hasta 100 participantes en nivel libre
• Tasa de conversión de gratuito a pagado: 5.4%

Monetización de características de complemento

Característica	Costo adicional
Grabación de nubes	$ 40 por host/año
Gran reunión	$ 50 por host/año
Seminario web	$ 690 por host/año

Servicios de alojamiento profesional y de seminarios web

Ingresos de alojamiento de seminarios web en 2023: $ 342 millones

• Precio promedio de alojamiento de seminarios web: $ 690 anualmente
• Total de seminarios web: 495,000
• Crecimiento de ingresos del seminario web: 22% año tras año

Zoom Video Communications, Inc. (ZM) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Zoom Video Communications, Inc. over the competition as we wrap up 2025. It's not just about video anymore; it's about an entire AI-powered work platform.

Unified AI-powered work platform (Meetings, Phone, Chat, Contact Center)

The value proposition centers on a single, integrated experience, which they call Zoom Workplace. This platform bundles core meeting functionality with Zoom Phone, Chat, and the rapidly growing Contact Center offering. For the full fiscal year 2025, total revenue reached $4,665.4 million, showing sustained growth despite market maturity. Enterprise revenue, which captures the adoption of these broader solutions, was $2,754.2 million for the full fiscal year 2025, marking a 5.2% year-over-year increase. The Zoom Phone segment, a key part of this unified offering, has now reached 7 million paid user seats worldwide. Furthermore, the Contact Center business is showing significant traction, with the number of customers contributing more than $100,000 in annual recurring revenue rising 94% year-over-year to 229 in the second quarter of 2025.

Here's a quick look at the financial scale as of the end of fiscal year 2025:

Metric	Value (FY2025 End)	Context
Total Annual Revenue	$4,665.4 million	Up 3.1% year over year
Enterprise Revenue	$2,754.2 million	Represents 59.0% of total revenue
Operating Cash Flow	$1,945.3 million	Up 21.7% year over year
Q4 FY2025 Total Revenue	$1,184.1 million	Up 3.3% year over year

Free core AI features (AI Companion) for paid users

A major differentiator is including core AI capabilities at no extra charge for existing paid subscribers. Zoom launched AI Companion 2.0 in October 2025, which includes features like meeting summaries and action item extraction, free with eligible paid plans. This inclusion is driving significant adoption; management noted that AI Companion usage surged more than four times year over year in the third quarter of CY2025. In an earlier quarter (Q2 2025), the AI Companion also saw a four-fold increase in monthly active users. Real-world testing of the AI Companion showed that its meeting summaries were 80-85% accurate, and action item extraction hit 70-75% accuracy. This provides measurable micro-efficiencies, saving heavy users an estimated 10-17 minutes per meeting versus manual note-taking.

High-quality, reliable, and easy-to-use video communication

The foundation remains high-quality, reliable video, which still attracts massive daily engagement. Zoom averages 300 million daily active users across its platform. The sheer volume of interaction demonstrates reliability; the number of annual meeting minutes facilitated is now over 3.3 trillion. The average meeting length for users generally falls between 31 minutes to 60 minutes. This core utility is what keeps the base engaged, even as the platform expands into other areas.

Scalable solutions for global enterprises and SMBs

Zoom Video Communications, Inc. clearly targets scaling up its enterprise footprint while managing its broader online segment. At the end of the fourth quarter of fiscal year 2025, the company served approximately 192,600 Enterprise customers. The focus on high-value clients is evident: the count of customers contributing more than $100,000 in trailing 12 months revenue was 4,088 at the end of Q4 FY2025, an increase of 7.3% year-over-year. However, the trailing 12-month net dollar expansion rate for Enterprise customers was 98% at that same time, meaning that segment, on average, spent slightly less than the prior year with Zoom. The U.S. remains the largest single market, generating 36.9% of Zoom's web traffic and resulting revenue.

Vertical-specific solutions for Healthcare and Education

The platform offers tailored value propositions for regulated and specialized sectors. In Healthcare, Zoom is positioned as the leading telehealth provider in the country, holding more than 36% market share in that space. The company introduced Zoom Workplace for Clinicians and a custom AI Companion for Healthcare add-on in the first half of 2025. For compliance, Zoom is HIPAA compliant provided organizations use a business account with the necessary agreements and security configurations in place, securing communications with end-to-end AES-256-bit encryption. The platform also integrates with the Epic electronic health record system to support clinical workflows. You need to ensure IT coordinates with legal teams to map where all Zoom data resides-recordings, chat logs, and metadata-for eDiscovery readiness.

Zoom Video Communications, Inc. (ZM) - Canvas Business Model: Customer Relationships

You're looking at how Zoom Communications, Inc. manages its vast user base, which is definitely not one-size-fits-all. The approach splits clearly between the high-volume, low-touch users and the high-touch enterprise accounts.

High-volume, low-touch online self-service for SMBs

The Online segment, which largely serves the SMB (Small and Medium-sized Business) and individual user base, relies heavily on self-service for onboarding and support. This segment generated $477.3 million in revenue in the fourth quarter of fiscal year 2025, representing a 0.4% year-over-year decline. To manage this scale, the Online average monthly churn for that same quarter was 2.8%, which was an improvement, down 20 bps from the prior year. This segment is supported by the massive top-of-funnel adoption driven by the freemium offering.

Dedicated account management for large Enterprise customers

For the largest clients, the relationship shifts to dedicated, high-touch account management. Enterprise revenue in the fourth quarter of fiscal year 2025 hit $706.8 million, marking a 5.9% year-over-year increase. As of the end of Q4 FY2025, Zoom Communications, Inc. reported approximately 192,600 Enterprise customers. Furthermore, the company tracks its most valuable accounts closely; as of July 2025, there were 4,274 business customers contributing more than $100K each in annual recurring revenue. Enterprise revenue accounted for 60% of total company revenue in the latest quarter (Q2 FY 2026).

Freemium model to drive viral adoption and conversion

The foundation of the customer relationship strategy is the freemium model, which fuels viral adoption. Zoom Communications, Inc. has 300 million daily active users globally. The platform serves 504,900 business customers worldwide. While specific internal conversion rates aren't public, industry benchmarks for a traditional freemium model suggest a conversion rate from free to paid subscribers typically falls between 2-5%.

Partner-delivered post-sales services and support

The ecosystem plays a key role in extending service reach. Zoom Communications, Inc.'s ecosystem thrives due to its extensive partner base, which enables specialist solutions. This extends post-sales support and implementation for complex products like Zoom Phone and Contact Center. For example, Zoom Contact Center doubled its CCaaS customers to 1,100+ from 2024 to 2025, including a single win for 20,000 seats.

Customer success teams focused on platform expansion

Customer success teams are clearly oriented toward driving adoption of the expanded platform beyond core meetings. This is evidenced by the growth in ancillary products. The Zoom Phone segment reached 7 million paid user seats. The AI Companion, a key part of the platform expansion, saw a 68% QoQ uptick in Monthly Active Users (MAUs) in Q4 FY2025. To support this, the Zoom Customer Success Hub provides curated events, including weekly Open Office Hours and in-depth product deep dives.

Here's a snapshot of the customer base segmentation and key metrics as of late 2025:

Metric	Value	Period/Context
Enterprise Customers	Approximately 192,600	End of Q4 FY2025
Online Revenue	$477.3 million	Q4 FY2025
Enterprise Revenue	$706.8 million	Q4 FY2025
Customers > $100K ARR	4,274	As of July 2025
Online Monthly Churn	2.8%	Q4 FY2025 Average
Zoom Phone Paid Seats	7 million	Reported Milestone
Daily Active Users (Total)	300 million	Reported Figure

Zoom Video Communications, Inc. (ZM) - Canvas Business Model: Channels

You're looking at how Zoom Video Communications, Inc. gets its offerings into the hands of customers, which is a mix of digital self-service and high-touch enterprise engagement. The structure clearly separates the high-volume, lower-touch Online segment from the high-value Enterprise segment.

Direct online sales via the Zoom website (self-service)

This channel primarily feeds the Online customer segment, which is the engine for smaller businesses and individual users. For the full fiscal year ended January 31, 2025, Online revenue was $1,911.2 million, representing a modest growth of 0.2% year-over-year. The Online average monthly churn for the fourth quarter of fiscal year 2025 was reported at 2.8%, which was an improvement of 20 basis points from the same quarter last fiscal year. To be fair, this channel relies on the platform's ease of use to drive adoption without significant direct sales overhead.

Direct sales force for Enterprise and Mid-Market accounts

The direct sales force targets the larger, more complex accounts, which is where the bulk of the revenue comes from. For the full fiscal year 2025, Enterprise revenue hit $2,754.2 million, growing by 5.2% year-over-year. This segment accounted for approximately 60% of total company revenue in the second quarter of fiscal year 2026. Zoom serves approximately 192,600 Enterprise customers as of January 31, 2025. Furthermore, the company has a significant concentration of high-value clients; as of October 31, 2025, there were 4,363 customers contributing more than $100,000 in trailing 12 months revenue, up 9.2% year-on-year.

Here's a quick look at the revenue segmentation based on the full fiscal year 2025 results:

Revenue Segment	FY 2025 Revenue (USD)	Year-over-Year Growth
Total Revenue	$4,665.4 million	3.1%
Enterprise Revenue	$2,754.2 million	5.2%
Online Revenue	$1,911.2 million	0.2%

Global channel partner ecosystem (resellers, distributors)

Zoom Video Communications, Inc. is actively transforming its go-to-market strategy to lean more heavily on its partners, especially for its newer, more complex offerings like Contact Center. The firm has a stated goal to boost enterprise revenue generated by the channel from its then-current 30 percent to 50 percent by the end of fiscal year 2026. The channel's impact is clear in the Contact Center space; for the three months ended October 31, 2025, nine out of 10 of the largest Contact Center deals were channel-driven. The revamped Zoom Up Partner Program now features distinct tracks for resale and agency partners, moving away from a rigid checklist to a dynamic points-based system.

• The channel is now the most important go-to-market strategy for the Contact Center solution.
• The program evolution includes the Zoom Up Services Program for partner-delivered services.
• Partners are rewarded for specialized enablement and skill sets across Meetings, Phone, and Contact Center.

App Marketplace for third-party integrations and extensions

The App Marketplace serves as a key channel for expanding the platform's utility through third-party software integrations. As of the most recent data, the platform hosts more than 1,500 applications. This represents a growth of over 650% since January 2020, when the marketplace only featured 200 applications. This ecosystem helps keep users engaged within the Zoom environment by offering extensions for Zoom Meetings, Zoom Phone, and others.

Hardware vendors selling Zoom Rooms devices

Zoom utilizes strategic hardware partnerships to drive adoption of its Zoom Rooms and Zoom Phone offerings, often through a hardware-as-a-service model. Back in July 2020, Zoom announced the availability of these bundled services running on hardware from vendors including DTEN, Neat, Poly, and Yealink. This channel ensures a complete, integrated solution for physical meeting spaces and desk phones, bypassing the need for customers to source and integrate compatible hardware themselves.

Here are some key operational metrics related to the Enterprise segment, which heavily utilizes direct sales and is increasingly supported by the channel:

Enterprise Metric	Value/Date	Context
Enterprise Customers	192,600 (as of Jan 31, 2025)	Total count of distinct business units engaged.
Customers > $100K TTM Revenue	4,363 (as of Oct 31, 2025)	Represents the highest-value customer tier.
Fortune 100 Penetration	70%	Indicates strong adoption in the largest US enterprises.
Zoom Phone Paid Seats	7 million (as of Q3 2024)	Shows the scale of the telephony offering adoption.

Finance: draft 13-week cash view by Friday.

Zoom Video Communications, Inc. (ZM) - Canvas Business Model: Customer Segments

You're looking at the core groups Zoom Video Communications, Inc. serves as of late 2025. It's a mix, ranging from massive global enterprises down to individuals using the platform for quick, free calls. Honestly, the strategy clearly leans heavily on locking in the big spenders.

The Enterprise segment is the clear revenue anchor. At the end of the fourth quarter of fiscal year 2025, Zoom Video Communications, Inc. reported approximately 192,600 Enterprise customers. By the third quarter of fiscal year 2026, this segment was driving 60% of total revenue, up 1 point year over year.

Within that Enterprise group, the focus sharpens on the highest-value accounts. These are the customers generating significant, recurring revenue. Here's how that top tier looked in the most recent reported periods:

Customer Metric	Q4 FY2025 Count	Q3 FY2026 Count
Customers spending >$100,000 ARR	4,088	4,363
Year-over-Year Growth for >$100k Customers	Up approximately 7.3%	Up 9% year-over-year

The Small and Medium Businesses (SMBs) segment falls largely under the Online business category, which is showing signs of stabilizing. While the exact number of SMBs on paid plans isn't broken out separately from the overall Online segment, we know that in Q3 FY2026, the Enterprise segment accounted for 60% of revenue, meaning the Online segment, which houses SMBs and smaller paid teams, made up the remaining 40%. The Average Monthly Churn for the Online business in Q3 FY2026 was 2.7%, an all-time low for that quarter.

For Individual users and small teams on the free tier, the scale is immense, though these users don't directly drive the primary financial metrics. As of 2025, Zoom Video Communications, Inc. hosts over 300 million daily active users worldwide. This massive base is the funnel for future paid conversions.

Zoom Video Communications, Inc. also targets specific, high-compliance verticals where its platform, especially Zoom Phone, is gaining traction. You see this focus in product adoption:

• Zoom Phone surpassed 10 million paid seats early in Q3 FY2026.
• The platform continues to see numerous sizable wins in Financial Services and Healthcare.
• In the financial sector, over 8 in 10 of the largest US banks use Zoom.

Finance: draft 13-week cash view by Friday.

Zoom Video Communications, Inc. (ZM) - Canvas Business Model: Cost Structure

You're looking at the core costs Zoom Communications, Inc. absorbed to run its platform and pursue growth through late 2025. It's a story of heavy investment in engineering, sales reach, and keeping the lights on for a massive cloud operation.

The total GAAP operating expenses for Zoom Video Communications, Inc. in Fiscal Year 2025 reached $2,722,511 thousand. This figure is the sum of the three main operating expense categories, showing where the day-to-day money went.

Operating Expense Category	FY2025 Amount (in thousands)	FY2025 Amount (in millions)
Research and Development	852,415	$852.42
Sales and Marketing	1,427,384	$1,427.38
General and Administrative	442,712	$442.71
Total Operating Expenses (GAAP)	2,722,511	$2,722.51

The Cost Structure is heavily weighted toward driving adoption and innovation. Here's a breakdown of the specific elements you asked about:

• Significant R&D investment, reaching $852,415 thousand in FY2025, representing 18.14% of total revenue for the year.
• Cloud infrastructure and data center operating costs are primarily captured within Cost of Revenue, which totaled $1,129,627 thousand in FY2025. This includes costs for co-located data centers and third-party cloud hosting.
• Sales and marketing expenses to drive enterprise adoption were the largest operating expense line item at $1,427,384 thousand for FY2025.
• Personnel costs, including stock-based compensation, are embedded across the operating expenses. The total annual Stock-Based Compensation expense for FY2025 was reported as $931,000 thousand ($0.931B).
• Acquisition-related expenses for strategic growth (like Workvivo, acquired in 2023 for approximately $220 million) are excluded from Non-GAAP metrics. The total GAAP-to-Non-GAAP operating income adjustment for FY2025, which includes acquisition-related expenses, stock-based compensation, and litigation settlements, net, was approximately $1,024,600 thousand ($1,837.9 million Non-GAAP Op. Income minus $813.3 million GAAP Op. Income).

Finance: draft 13-week cash view by Friday.

Zoom Video Communications, Inc. (ZM) - Canvas Business Model: Revenue Streams

You're looking at how Zoom Video Communications, Inc. actually brings in the money as of late 2025. It's not just one thing; it's a mix of big enterprise deals and smaller online subscriptions, plus new growth areas they're pushing hard.

The core of the revenue still comes from subscription fees for Zoom Meetings, which is tiered across Pro, Business, and Enterprise levels. These subscriptions are the bread and butter, but the mix between the big customers and the smaller ones is what you need to watch. For the full fiscal year 2025, Zoom Video Communications, Inc. reported total revenue of $4,665.4 million.

Here's the quick math on how that total revenue split between the two main segments for FY2025:

Revenue Segment	FY2025 Revenue Amount	Year-over-Year Growth (Reported)
Enterprise Revenue	$2,754.2 million	5.2%
Online Revenue	$1,911.2 million	0.2%

Enterprise revenue, which was $2,754.2 million in FY2025, shows the company's strength in landing and keeping larger organizations. This segment is driven by those higher-tier, often multi-year contracts. At the end of the fourth quarter of FY2025, Zoom Video Communications, Inc. had approximately 192,600 Enterprise customers. A key indicator of stickiness here is the trailing 12-month net dollar expansion rate for Enterprise customers, which stood at 98%. Also, the number of customers contributing more than $100,000 in trailing 12-month revenue was 4,088, up approximately 7.3% year over year.

Revenue from new products like Zoom Phone, Contact Center, and Workvivo is where the future growth story is being written. These represent the platform expansion beyond core meetings. For instance, Zoom Phone calling plans were available in more than 45 countries and territories as of January 31, 2025. The Contact Center solution saw impressive traction, with 100%-plus YoY growth in large contact center customers, and the number of customers with over $100,000 in annual recurring revenue (ARR) doubling year over year. Workvivo is also a key growth driver, showing significant strategic logo wins.

Online revenue, which came in at $1,911.2 million in FY2025, is primarily from SMBs and individuals using the self-service model. This segment saw very modest growth of 0.2% year over year. The churn rate in this segment is something to monitor; the Online average monthly churn for the fourth quarter was 2.8%. Still, about 75.1% of total Online MRR (monthly recurring revenue) came from customers with a continual term of service of at least 16 months at the end of the quarter.

Add-on services like Zoom Rooms and Webinar licenses contribute to the overall platform value proposition, often bundled or sold alongside the main subscriptions. The adoption of AI features is becoming a revenue driver, too. The Zoom AI Companion, which is a paid AI add-on in Workplace, is designed to automate tasks. As of October 2024, more than four million accounts had AI Companion enabled, and usage was accelerating. This signals a clear path to monetizing advanced features across the installed base.

You should definitely track the growth in the high-value customer cohort, as that often signals future Enterprise stability. Finance: draft 13-week cash view by Friday.