Zscaler names Kevin Rubin as CFO, raises annual forecast

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(Reuters) -Zscaler named Kevin Rubin as its chief financial officer and raised its annual results forecast on Thursday, as businesses spend more on cybersecurity networking solutions to combat sophisticated online threats.

The cloud security firm’s shares rose nearly 5% in extended trading.

Rubin, who was the finance chief of mental health startup BetterUp before joining Zscaler, will replace Remo Canessa, who retired in December.

With the widespread adoption of generative AI, enterprises face increased data loss risks, underscoring the critical need for robust data protection.

Enterprises continue to spend on digital protection services, ramping up sales for companies such as Zscaler, which offers data protection and AI-powered security products.

Zscaler now sees fiscal 2025 revenue between $2.659 billion and $2.661 billion, up from its prior projection of $2.640 billion to $2.654 billion. Analysts expect $2.649 billion, according to data compiled by LSEG.

On an adjusted basis, Zscaler expects annual earnings between $3.18 and $3.19 per share, from its earlier forecast of $3.04 to $3.09 apiece.

For the third quarter, ended April 30, Zscaler posted revenue of $678 million, beating analysts’ average estimate of $666.4 million.

It reported adjusted per-share earnings of 84 cents for the quarter, ahead of analysts’ estimate of 75 cents per share. 

(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)