Zoom's (ZM) Q2 Conference Call Highlights: Zoom Apps, Zoom Events, Zoom Phone, and more
Zoom’s (NASDAQ: ZM) Founder and CEO, Eric Yuan spoke during Zoom's Second Quarter Fiscal Year 2022 Earnings Webinar on the milestones the company was able to achieve during the quarter, which set the foundation for the company to thrive as a platform. Yuan mentioned Zoom Apps, launched in July, which brings over 50 apps right into the Zoom meeting experience. According to Yuan, Zoom Apps benefits (1) the developers in their ecosystem to have exposure to Zoom’s large user base, and (2) the company, as the apps built by the developers, where workflows are integrated with meeting interactions, will boost their customer’s productivity. Yuan also mentioned the Zoom Apps Fund, which has already invested in over a dozen startups, enabling the developers to focus more on innovation. Another product highlighted by Yuan was Zoom Events, launched in July, which is an easy and powerful solution to produce and host company and public events.
The company saw several large customer upsells in Q2, expanding with a leading tech firm who increased their Meetings licenses over sixfold to 95,000, and with a global financial services customer who added over 63,000 Zoom Phone licenses, making them its new largest customer.
Yuan also specifically thanked Charlie Munger of Berkshire Hathaway for his remarks about how Zoom has added so much convenience to his life, nominating himself to be Charlie’s personal Zoom tech support if he ever needs it.
One of the most important highlights during the call was the growth in the number of enterprise customers spending more than $1 million dollars in ARR by 77% year over year. Zoom Phone, having 2 million seats sold already, has seen a 241% year-over-year growth in the number of customers spending more than $100,000 dollars in ARR.
The company also expanded its international presence, with Americas revenue growing 50% year over year and the combined APAC and EMEA revenue growing 62% year over year, which now represents approximately 33% of revenue, up from 31% a year ago.
In the end, the company’s representative invited everyone to join Zoomtopia in two weeks, which is a two-day virtual event on Zoom Events, where the company will provide greater details on Zoom Phone, the platform, its channel partnerships, and much more.