Zoom customers over $100k in TTM revenue in Q3

Zoom's >$100k customer cohort is a vital revenue segment. This cohort, comprising customers generating over $100,000 in trailing 12-month (TTM) revenue, contributes approximately 33% of the company's total revenue ^[1][5][6]. The segment has demonstrated steady, measured growth, with the most recent reported count being 4,625 customers in Q2 FY2027 ^[1][2][3][4].

The >$100k customer cohort has grown consistently over two years. In Q3 FY2025, the cohort contained just under 4,000 customers, representing a 7% year-over-year increase ^[2]. The number subsequently rose to 4,088 by Q1 FY2026, expanded to 4,468 in Q2 FY2026, and reached 4,625 by Q3 FY2026 ^[2][3][4]. After a minor reduction to 4,534 in Q1 FY2027, the cohort once again reached 4,625 in Q2 FY2027, marking an 8.2% year-over-year increase for that specific period ^{[1][2][3][4][7][8]}. Overall, the segment grew from 4,274 in Q2 FY2026 to 4,625 by Q2 FY2027, generally maintaining year-over-year growth rates between 8% and 10% ^{[1][9][7][10][11]}.

Management attributes growth to enterprise momentum and strategic expansion. This growth has been characterized by management as steady and measured, rather than a sharp reacceleration ^[2][3][4]. Key drivers for this expansion include continued enterprise momentum, an upmarket shift, large deals, channel leverage, and diversification into adjacent products such as Contact Center and Workvivo ^[2][3][4]. It was also noted that quarter-to-quarter movements in these metrics can be influenced by timing effects from coterminous contracts ^[2][3][4].

Wall Street analysts project Zoom's Q3 FY2027 revenue at $1.279 billion. This consensus, based on three analysts and updated on August 25, 2026, falls within a range of $1.277 billion to $1.298 billion ^{[1][2][3][4][5][6]}. This forecast closely aligns with Zoom's own Q3 FY2027 revenue guidance, which is set between $1.275 billion and $1.280 billion ^{[7][8][9][10][11]}. However, current analyst reports and forecasts examined do not include a separately disclosed numeric projection for the number of customers generating over $100,000 in trailing 12-month revenue ^{[1][2][3][4][5][6]}.

Zoom's >$100k customer count grew steadily in recent quarters. As of Q2 FY2027, Zoom reported 4,625 customers with over $100,000 in trailing 12-month revenue ^[10][12][13]. This customer segment exhibited an 8.2% year-over-year growth in both Q1 FY2027 and Q2 FY2027 ^[10][12][13]. While improved Enterprise revenue and total revenue in Q2 FY2027 coincided with an increase in this customer group, and management has linked its outlook to Enterprise expansion, analyst reports do not publicly provide a specific numerical forecast or an explicit derivation for the >$100k customer count based on their revenue expectations ^{[1][2][3][4][5][6]}.

The research does not quantify the anticipated incremental impact of Zoom's AI product suite on enterprise contract upselling specifically in Q3 FY2027. While there is evidence linking AI adoption to enterprise momentum, the provided research does not offer a Q3 FY2027-specific upsell uplift estimate, nor does it isolate incremental upsell rates or changes in average revenue per account directly attributable to AI for that quarter ^{[6][7][8][9][10][11]}. Although Zoom issued Q3 FY2027 revenue guidance of $1.275B–$1.280B and non-GAAP EPS guidance of $1.46–$1.48, this guidance does not delineate the specific AI-driven upsell impact for the quarter ^{[6][7][8][9][10][11]}.

Zoom's Q2 FY2027 enterprise revenue grew, significantly driven by AI. In Q2 FY2027, Zoom's Enterprise revenue increased 7.8% year-over-year, largely attributed to its 'AI-first system of action' strategy and the monetization of products such as Virtual Agent and AI Companion ^[1][2][3]. Virtual Agent adoption was a key factor in enterprise upselling, with its customer count growing by 256% year-over-year by the end of Q2 FY2027. Paid AI features were involved in nine of the top 10 Customer Experience deals during this period. Furthermore, Zoom reported 4,625 customers generating over $100,000 in trailing 12-month (TTM) revenue, indicating momentum in securing larger, multi-product platform deals. Licensed Workplace AI users also saw a 125% year-over-year increase, and paid customers for Zoom Revenue Accelerator grew by 41% year-over-year in Q2 FY2027 ^{[4][1][3][5][11]}.

Zoom reported modest growth in large enterprise customer segments. The company experienced a 9.2% year-over-year increase in customers contributing over $100,000 in trailing 12-month revenue during Q3 fiscal 2026 ^[1][2]. Furthermore, Zoom's enterprise revenue grew by 7.8% year-over-year in fiscal Q2 2027, which concluded on July 31, 2026 ^[3].

Competitors show varying performance and maintain strong market positions. Cisco's Webex collaboration business, for instance, saw its strongest quarter in seven years during fiscal Q4 2026, with growth that outpaced Zoom in that period, driven by Webex, devices, and contact center operations ^[5]. Microsoft Teams remains the dominant global UCaaS market share leader, commanding approximately 22% of seats in 2025 ^[4]. However, the specific growth rate for Microsoft Teams' large enterprise deals in 2026 is not provided for direct comparison. Zoom continues to be a leader in web conferencing but faces aggressive competition from Microsoft Teams, which benefits from deep integration into the Microsoft 365 ecosystem, and Cisco Webex, which is regaining momentum by leveraging its strengths in contact center, devices, and regulated/on-premises deployments ^[6][5][7].

Macroeconomic shifts pose risks to Zoom's traditional communications growth, particularly for customers spending over $100,000 in trailing 12-month revenue. Enterprise tech budgets are increasingly shifting from an "expansion mode" to a "proof/ROI mode," with incremental spending being reallocated towards AI, cloud, and security ^{[1][2][3][4][5][6]}. This necessitates clearer business cases for net-new growth and upsell opportunities within the over $100k cohort, often requiring consolidation paired with measurable productivity or AI outcomes, as there is less tolerance for waste or unproven return on investment ^{[1][2][3][4][5][6]}. While worldwide IT spending is forecast to grow 13.50% in 2026, communications services spending is projected to grow at a slower rate of 4.80%, in contrast to software at 15.10% and IT services at 9.00% ^{[1][2][3][4][5][6]}. This suggests Zoom's Unified Communications as a Service (UCaaS) and broader communications category may face heightened scrutiny, as Chief Information Officers recalibrate budgets for the AI era, prioritizing AI infrastructure and security if collaboration is perceived solely as a cost center ^{[1][2][3][4][5][6]}.

Zoom can capitalize by integrating AI into its enterprise offerings to address these market changes. A significant opportunity arises if Zoom frames its enterprise value proposition around AI-enabled workflows, allowing it to capture a portion of the reallocated incremental budget towards AI initiatives ^{[1][2][3][4][5][6]}. Enterprises are actively consolidating communications spending around platforms that bundle AI capabilities natively, which presents a growth pathway for Zoom ^[7][10][8]. This strategy appears to be yielding positive results, as Zoom reported its enterprise segment revenue grew 7.8% year-over-year in Q2 FY2027, marking its fastest pace in three years, partly supported by AI product adoption ^[7][8]. Furthermore, the number of customers contributing over $100,000 in trailing 12-month revenue increased by 8.2% year-over-year, reaching 4,625 as of Q2 FY2027 ^[7][8][9].

Zoom's second fiscal quarter of 2027, which ended July 31, 2026, saw 4,625 customers contributing over $100,000 in trailing 12-month revenue, an 8.2% year-over-year increase ^[1][2][3][4]. Enterprise revenue grew 7.8% year over year, with total revenue up 4.9% and remaining performance obligations increasing 14% ^{[5][6][7][8][9][10]}. The net dollar expansion rate stood at 99% ^{[5][6][7][8][9][10]}. Bullish indicators also include AI product adoption, share buybacks, and the optionality from its Anthropic stake ^{[5][6][7][8][9][10]}.

Despite strong Q2 results, market sentiment is mixed due to cautious analyst reactions to Zoom's Q3 revenue guidance ^{[1][11][12][5][6][7][8][9][10]}. For Q3 fiscal year 2027, the company forecasts revenue between $1.275 billion and $1.280 billion, with adjusted EPS projected between $1.46 and $1.48 ^[1][2][3][4]. Full fiscal year 2027 revenue is anticipated to be between $5.085 billion and $5.095 billion, with non-GAAP diluted EPS between $6.08 and $6.12 ^[1][2][4]. Bearish factors also include softness in online revenue and persistent competition ^{[5][6][7][8][9][10]}.

Zoom continues to expand its AI and customer-experience stack through product launches and integrations, such as Zoom Virtual Agent ^{[5][6][7][8][9][10]}. The acquisition of Common Room added buyer-intelligence capabilities to its AI revenue platform ^{[5][6][7][8][9][10]}. Investors await the Goldman Sachs Communacopia + Technology Conference on September 9, 2026, where Zoom is scheduled to participate ^[13].