Zscaler delivered fiscal fourth-quarter results that lifted its shares more than 11% in after-hours trading, as the cloud security company reported revenue of $898.2 million, up 25% year over year and ahead of the $877 million consensus, with adjusted earnings of $1.19 per share versus $1.09 expected. Annual recurring revenue rose 25% to $3.771 billion, while Security for AI bookings climbed more than 50% sequentially and the AI-related sales pipeline jumped 75%. GAAP net loss narrowed to $3.4 million, or $0.02 per share, non-GAAP operating margin reached a record 24.3%, and full-year revenue rose 25% to $3.353 billion. Management guided first-quarter revenue to $935 million–$939 million and full-year fiscal 2027 revenue to $3.908 billion–$3.938 billion, with ARR seen at $4.396 billion–$4.426 billion, and disclosed a restructuring affecting about 3% of employees with charges of $30 million–$33 million to redirect resources toward AI. CEO Jay Chaudhry said he is very bullish on zero-trust products for AI agents, noting Security for AI bookings of about $100 million over the past year and that 70% of those deals also included data security.