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Zscaler reported FY2025 revenue of $2.7 billion and Q2 FY2026 revenue of $815.8 million. The thesis depends on zero-trust demand, large-customer expansion, billings quality, operating leverage, stock compensation and cash conversion.
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Acorn's OmniMetrix business is small, profitable, and increasingly recurring, but the ACFN debate turns on customer concentration, hardware volatility, controls, and whether AIO turns into real Intelligent Site revenue.
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