Zoom Video Communications, Inc. (ZM): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage rapide de la communication numérique en évolution, les communications vidéo Zoom sont devenues une force transformatrice, révolutionnant comment les entreprises, les éducateurs et les professionnels se connectent sur les distances mondiales. En fabriquant méticuleusement un modèle commercial dynamique qui combine une technologie de pointe avec des partenariats stratégiques et des offres de services innovantes, Zoom n'a pas seulement créé une plate-forme de conférence vidéo, mais un écosystème de collaboration complet qui s'adapte aux besoins complexes des organisations modernes. Cette plongée profonde dans le canevas du modèle commercial de Zoom révèle la mécanique complexe de leur succès phénoménal, déballant les éléments stratégiques qui les ont propulsés d'une startup à une puissance de communication mondiale.

Zoom Video Communications, Inc. (ZM) - Modèle commercial: partenariats clés

Fournisseurs d'infrastructures cloud

Zoom maintient des partenariats critiques avec les principaux fournisseurs d'infrastructures cloud:

Fournisseur	Détails du partenariat	Dépenses annuelles
Amazon Web Services (AWS)	Partenaire d'infrastructure cloud primaire	212,3 millions de dollars en 2023
Microsoft Azure	Support d'infrastructure cloud secondaire	87,6 millions de dollars en 2023

Fabricants d'équipements de télécommunications

Partenariats stratégiques avec les fabricants d'équipements de télécommunications:

• Systèmes Cisco
• Poly (anciennement polycom)
• Logitech

Partenaires d'intégration de logiciels d'entreprise

Partenaire	Type d'intégration	Impact annuel sur les revenus
Salesforce	Intégration CRM	45,2 millions de dollars en 2023
Microsoft	Équipes et intégration Office 365	98,7 millions de dollars en 2023

Développeurs d'applications tiers

Zoom application Marketplace Statistics:

• Total App Marketplace Partners: 1 500+
• Développeurs actifs mensuels: 750
• Part des revenus des développeurs annuels: 22,3 millions de dollars

Plateformes de formation éducative et d'entreprise

Partenaire	Focus de partenariat	Valeur de collaboration annuelle
Parcours	Intégration d'apprentissage en ligne	18,5 millions de dollars en 2023
LinkedIn Learning	Plateforme de formation professionnelle	27,6 millions de dollars en 2023

Zoom Video Communications, Inc. (ZM) - Modèle d'entreprise: Activités clés

Développement de la plate-forme de communication vidéo

Zoom a investi 340,2 millions de dollars dans la recherche et le développement au cours de l'exercice 2024. Le développement de la plate-forme se concentre sur la création de technologies de communication vidéo évolutives.

Métrique de développement	2024 statistiques
Dépenses annuelles de R&D	340,2 millions de dollars
Ingénieurs logiciels	1 872 employés
Mises à jour annuelles de la plate-forme	12-15 versions majeures

Ingénierie logicielle continue et innovation

Zoom maintient une approche robuste d'ingénierie logicielle avec des stratégies d'innovation spécifiques.

• Architecture de microservices natifs du cloud
• Intégration d'apprentissage automatique pour la qualité vidéo
• Développement des fonctionnalités basées sur l'IA

Maintenance des infrastructures cloud

Zoom exploite une infrastructure cloud mondiale prenant en charge des millions d'utilisateurs simultanés.

Métrique d'infrastructure	2024 Spécifications
Centres de données mondiaux	24 régions du monde
Procès-verbal de la réunion quotidienne	3,3 billions de minutes
Tableau des utilisateurs simultanés	22,4 millions

Amélioration de la technologie de sécurité et de chiffrement

Zoom alloue des ressources importantes aux technologies de cybersécurité et de chiffrement.

• Protocoles de chiffrement de bout en bout
• Implémentation du modèle de sécurité Zero-Trust
• Évaluation continue de la vulnérabilité

Support client et optimisation de l'expérience utilisateur

Zoom investit dans une infrastructure complète de support client.

Métrique de soutien	2024 performance
Personnel de soutien	2 450 employés
Temps de réponse moyen	37 minutes
Taux de satisfaction client	87.6%

Zoom Video Communications, Inc. (ZM) - Modèle commercial: Ressources clés

Technologie de communication vidéo avancée

L'infrastructure des technologies de la communication vidéo de Zoom comprend:

• Technologie WebBrTC (Web en temps réel)
• Capacités de codec vidéo HD
• Protocoles de chiffrement de bout en bout

Métrique technologique	Spécification
Résolution vidéo maximale	1080p / 4k
Participants soutenus	Jusqu'à 1 000 participants
Optimisation de la bande passante	50-300 kbps par flux vidéo

Infrastructure logicielle basée sur le cloud

L'infrastructure cloud de Zoom comprend:

• Réseau de distribution de cloud global
• Architecture des microservices évolutifs
• Centres de données multi-régions

Métrique d'infrastructure	Spécification
Total des serveurs cloud	Plus de 20 000 serveurs
Centres de données mondiaux	15+ régions du monde
Procès-verbal de la réunion quotidienne	3,3 billions de minutes en 2022

Propriété intellectuelle et brevets

Le portefeuille de propriété intellectuelle de Zoom comprend:

• Brevets de communication vidéo
• Technologies d'optimisation du réseau
• Brevets de conception de l'interface utilisateur

Catégorie IP	Nombre
Total des brevets	87 brevets enregistrés
Demandes de brevet en instance	42 Applications

Centres de données mondiaux et infrastructure réseau

Détails de l'infrastructure réseau:

• Réseau de serveur mondial distribué
• Architecture du centre de données redondant
• Connectivité réseau à grande vitesse

Métrique du réseau	Spécification
Time de disponibilité du réseau	99,9999% de fiabilité
Régions du réseau mondial	20+ pays

Ingénierie qualifiée et main-d'œuvre technique

Composition de la main-d'œuvre:

• Ingénieurs logiciels
• Spécialistes des infrastructures de réseau
• Experts en sécurité

Métrique de la main-d'œuvre	Nombre
Total des employés	7 405 (à partir de 2023)
Employés de R&D	Environ 2 500
Effectif d'ingénierie	Environ 3 200

Zoom Video Communications, Inc. (ZM) - Modèle d'entreprise: propositions de valeur

Solutions de vidéoconférence de haute qualité et fiables

Zoom propose une vidéoconférence avec une résolution vidéo HD jusqu'à 1080p. Depuis le quatrième trimestre 2023, le zoom prend en charge:

Qualité vidéo	Participants maximaux	Durée de la réunion
1080p HD	1 000 participants	40 minutes (niveau gratuit)
Vidéo 4K	500 participants	Illimité (niveaux payants)

Outils de communication faciles à utiliser et multiplateforme

Zoom prend en charge plusieurs plates-formes avec des applications natives:

• Fenêtre
• macos
• Linux
• ios
• Androïde
• Navigateurs Web

Caractéristiques de collaboration en entreprise évolutive

Les fonctionnalités d'entreprise incluent:

Fonctionnalité	Disponibilité
Connexion unique (SSO)	Plan d'entreprise
Intégration du répertoire de l'entreprise	Plan d'entreprise
Gestion des utilisateurs avancés	Plan d'entreprise

Alternatives de communication à distance rentables

Structure de tarification du zoom à partir de 2024:

Plan	Coût mensuel	Caractéristiques clés
Basic	$0	Réunions de 40 minutes
Pro	14,99 $ / mois	Réunions 24 heures sur 24
Entreprise	19,99 $ / mois	Branding de l'entreprise
Entreprise	24,99 $ / mois	Sécurité avancée

Canaux de communication sécurisés et cryptés

Les fonctionnalités de sécurité comprennent:

• Cryptage de bout en bout
• Cryptage AES 256 bits
• Authentification multi-facteurs
• Salles d'attente
• Contrôles de l'hôte

Zoom Video Communications, Inc. (ZM) - Modèle d'entreprise: relations avec les clients

Plate-forme numérique en libre-service

Zoom propose une plate-forme numérique en libre-service complète avec les fonctionnalités suivantes:

Utilisateurs de compte de base gratuit	500 millions d'utilisateurs enregistrés en 2023
Gestion des comptes en libre-service	Disponible dans 190 pays
Options de mise à niveau du compte en ligne	5 niveaux d'abonnement différents

Support client de l'entreprise dédiée

Les canaux de support d'entreprise comprennent:

• Assistance technique 24/7
• Gestionnaires de compte dédiés pour les clients d'entreprise
• Résolution de billets de support prioritaire

Taille de l'équipe de support client d'entreprise	Plus de 1 500 professionnels du soutien
Temps de réponse moyen	Moins de 4 heures

Forums communautaires et bases de connaissances

Zoom maintient les vastes ressources en ligne:

• Zoom Forum communautaire avec plus de 250 000 membres actifs
• Base de connaissances en ligne complète
• Tutoriels et guides vidéo

Intégration et formation personnalisées

Séances d'intégration gratuites	Disponible pour les clients d'entreprise
Reach du programme de formation	Plus de 100 000 clients d'entreprise formés chaque année

Mises à jour régulières des produits et améliorations des fonctionnalités

Fréquence de mise à jour du produit	Mises à jour trimestrielles majeures
Nouvelles fonctionnalités introduites en 2023	17 Améliorations des fonctionnalités majeures
Investissement annuel de R&D	1,2 milliard de dollars en 2023

Zoom Video Communications, Inc. (ZM) - Modèle d'entreprise: canaux

Plateforme de vente en ligne directe

La plate-forme de vente en ligne directe de Zoom a généré 1,066 milliard de dollars de revenus pour le quatrième trimestre 2023. La plate-forme permet aux clients d'acheter des abonnements directement via le site Web Zoom.us avec 14 niveaux de prix différents allant des plans gratuits à l'entreprise.

Canal de vente	Revenus annuels	Segment d'utilisateur
Plate-forme en ligne directe	4,26 milliards de dollars (2023)	Utilisateurs individuels et PME
Ventes d'entreprise	2,14 milliards de dollars (2023)	GRANDES clients d'entreprise

Équipe de vente d'entreprise

L'équipe de vente d'entreprise de Zoom cible les grandes organisations avec des solutions de communication personnalisées. En 2023, le segment des entreprises représentait 50,3% du total des revenus de l'entreprise.

• Compte de clients d'entreprise: 216 400 (Q4 2023)
• Valeur du contrat moyen de l'entreprise: 75 400 $ par an
• Taille de l'équipe de vente d'entreprise: 742 représentants dédiés

Magasins d'applications mobiles et de bureau

Zoom distribue des applications via Apple App Store, Google Play Store et Microsoft Windows Store. Les téléchargements d'applications ont dépassé 750 millions en 2023.

Plate-forme	Téléchargements totaux	Part de marché
Apple App Store	342 millions	45.6%
Google Play Store	378 millions	50.4%

Marketing et publicité numériques

Zoom a investi 186 millions de dollars dans le marketing numérique et la publicité en 2023, ciblant les marchés de communication professionnels et personnels.

Réseaux de référence partenaires

Zoom conserve 250 partenaires d'intégration technologique et 1 500 partenariats mondiaux de revendeur. Les revenus générés par les partenaires ont atteint 612 millions de dollars en 2023.

• Partenaires technologiques: 250
• Partenaires mondiaux de revendeur: 1 500
• Revenu des partenaires: 612 millions de dollars

Zoom Video Communications, Inc. (ZM) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Au quatrième trimestre 2023, Zoom a rapporté 204 100 clients avec plus de 10 employés. Le segment des petites et moyennes entreprises représente environ 58% de la clientèle totale de Zoom.

Catégorie de taille d'entreprise	Nombre de clients	Pourcentage de clientèle
Petites entreprises (10-99 employés)	118,378	58%
Entreprises moyennes (100-499 employés)	85,722	42%

Grandes entreprises d'entreprise

En 2023, Zoom comptait 3 487 clients générant plus de 100 000 $ de revenus annuels, ce qui représente une croissance de 20% sur toute l'année.

• Les clients d'entreprise représentent 41% du total des revenus
• Valeur du contrat annuel moyen: 456 000 $
• Les 10 meilleurs clients d'entreprise représentent 7,2% des revenus totaux

Établissements d'enseignement

Zoom dessert 7 400 établissements d'enseignement dans le monde en décembre 2023.

Type d'institution	Nombre d'institutions
Écoles K-12	4,600
Enseignement supérieur	2,800

Organisations de soins de santé

En 2023, Zoom a signalé 2 300 clients de soins de santé utilisant sa plate-forme compatible HIPAA.

• Revenu du segment des soins de santé: 187 millions de dollars
• Valeur du contrat client moyen des soins de santé: 81 000 $

Professionnels individuels et travailleurs à distance

Zoom compte 22,4 millions de participants au total des réunions au quatrième trimestre 2023.

Catégorie utilisateur	Nombre d'utilisateurs
Utilisateurs de plan gratuit	16,8 millions
Utilisateurs individuels payés	5,6 millions

Zoom Video Communications, Inc. (ZM) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Zoom a déclaré des frais de recherche et de développement de 743,1 millions de dollars, ce qui représente 21,3% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	743,1 millions de dollars	21.3%
2022	884,1 millions de dollars	24.3%

Maintenance des infrastructures cloud

Les coûts d'infrastructure cloud de Zoom pour 2023 étaient d'environ 412,5 millions de dollars, ce qui comprend les dépenses pour:

• Opérations du centre de données
• Bande passante du réseau
• Maintenance du serveur
• Frais de fournisseur de services cloud

Investissements de vente et de marketing

Au cours de l'exercice 2023, les frais de vente et de marketing de Zoom ont totalisé 590,2 millions de dollars, représentant 16,9% des revenus totaux.

Exercice fiscal	Ventes & Frais de marketing	Pourcentage de revenus
2023	590,2 millions de dollars	16.9%
2022	665,4 millions de dollars	18.3%

Compensation des employés

Les dépenses totales de rémunération des employés de Zoom pour l'exercice 2023 étaient de 1,18 milliard de dollars, ce qui comprend:

• Salaires de base
• Compensation en stock
• Avantages
• Bonus

Support client et infrastructure technique

Le support client et les dépenses d'infrastructure technique pour 2023 s'élevaient à 356,7 millions de dollars, couvrant:

• Personnel de soutien technique
• Opérations de bureau
• Outils de support technique
• Maintenance des infrastructures

Total des dépenses d'exploitation pour l'exercice 2023: 2,88 milliards de dollars

Zoom Video Communications, Inc. (ZM) - Modèle d'entreprise: Strots de revenus

Modèles de tarification basés sur l'abonnement

Le prix de l'abonnement du Zoom au T2 2023 comprend:

Type de plan	Prix ​​mensuel	Potentiel de revenus annuel
Zoom de base	$0	$0
Plan professionnel	$149.90	$1,798.80
Plan d'affaires	$199.90	$2,398.80
Plan d'entreprise	$250.90	$3,010.80

Accords de licence d'entreprise

Les revenus de licence d'entreprise de Zoom en 2023 ont atteint 1,2 milliard de dollars, représentant 47% des revenus annuels totaux.

Offres de services freemium

• Limite de réunion de 40 minutes pour les comptes gratuits
• Jusqu'à 100 participants au niveau libre
• Taux de conversion de gratuit à payant: 5,4%

Monétisation des fonctionnalités complémentaires

Fonctionnalité	Coût supplémentaire
Enregistrement cloud	40 $ par hôte / an
Grande réunion	50 $ par hôte / an
Webinaire	690 $ par hôte / an

Services d'hébergement professionnel et webinaire

Revenus d'hébergement de webinaires en 2023: 342 millions de dollars

• Prix ​​moyen d'hébergement du webinaire: 690 $ par an
• Clients totaux de webinaire: 495 000
• Croissance des revenus du webinaire: 22% d'une année à l'autre

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.