Zoom has an attractive brand and a sticky platform, but it's unclear if it can continue generating double-digit sales growth as the pandemic ends and Microsoft aggressively expands Teams. I own some shares of Zoom, but I don't think it's the right time to double down on this polarizing stock yet. Salesforce's stock trades at 66 times forward earnings and just nine times next year's sales. Those valuations would be reasonable if Zoom's growth rates were more predictable, but they're simply too hot for a company in the midst of an ongoing slowdown.įor example, investors who are looking for a diversified cloud giant that will benefit from the same secular tailwinds as Zoom can simply stick with Salesforce, which aims to more than double its annual revenues to $50 billion by fiscal 2026. However, Zoom's stock still isn't cheap at 52 times forward earnings and 15 times next year's sales. By comparison, Five9 - which is unprofitable on a GAAP basis - spent 17% of its revenue on stock-based compensation expenses in the first nine months of fiscal 2021. That's because it only spends a conservative amount of its revenue (10% in the first nine months of fiscal 2022) on stock-based compensation expenses. Unlike many other high-growth tech companies, Zoom is consistently profitable by both generally accepted accounting principles ( GAAP) and non-GAAP metrics. What about Zoom's profitability and valuations? Those ads might enable Zoom to monetize the tens of millions of free, loss-leading users that it gained throughout the pandemic and stabilize its revenue growth, even as it gains fewer new users. Zoom also recently started testing out post-video ads for its free users. ![]() The deal was called off in September, but Zoom is still working closely with Five9 to expand its cloud-communications capabilities. That's why it tried to buy the cloud-communications provider Five9 ( NASDAQ:FIVN) for $14.7 billion earlier this year. However, Zoom is still aware that it needs to expand its ecosystem beyond video calls to stay competitive. Zoom ended its third quarter with 2,507 larger customers that generated over $100,000 in revenues over the past 12 months - up 94% from a year ago. Last quarter, Microsoft said 138 organizations had more than 100,000 Teams users, and more than 3,000 organizations had over 10,000 Teams users.īut Microsoft isn't killing Zoom yet. Microsoft's Teams, which has largely replaced Skype, is becoming a growing threat to both Zoom and Salesforce's ( NYSE:CRM) Slack in the enterprise-communications space. Zoom also faces tougher competition in that slowing market. Those estimates will likely be raised after its latest report, but they still imply the company will face increasingly difficult year-over-year comparisons as the pandemic ends. Zoom didn't provide a forecast for fiscal 2023, but analysts had expected its revenue to rise 52% this year and grow 18% next year. Both of those forecasts surpassed analysts' expectations and indicated the company could still generate impressive double-digit growth on top of its triple-digit growth last year. Hopefully they’ll be of use to someone! Let me know if you can’t access the links for whatever reason.Zoom expects its revenue to rise 19% year over year in the fourth quarter and grow 54% for the full year. ![]() Come on, tell me that doesn’t sound fun!Īnyway, here they are. Also I take all my notes in different colored pens so when I cross off a video I do it with a pen of the same color. Now I have them taped up on the wall in my study room, and it’s honestly kind of fun crossing the videos off the list after watching them (your idea of fun changes in dedicated). I found some other lists like these online but many were Excel docs and I really wanted them in word doc form so that I could print them out neatly on 8.5 by 11 paper because I like physical copies of things. Didn't do one for sketchy micro because I had already finished watching it beforehand. Realized the other day that I might as well post them here in case anyone else was interested. Which of course is very efficient in the long run (trying to convince myself that this wasn’t a waste of time lol). Hey guys, I started dedicated a few weeks ago and of course organizing your studying is way more fun than actually studying so I spent some time the first day making lists (with run-times) of all the videos in pathoma, B&B, Sketchy Pharm and physeo.
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