Zscaler remains a high-quality zero trust security leader, but the market is punishing a temporary mix of slowing growth, sales transition risk, and AI-era infrastructure capex pressure.
Overview
Zscaler is a global leader in cloud-native zero trust security, replacing perimeter-based firewalls and VPNs with its Zero Trust Exchange, an inline cloud proxy that inspects traffic, hides applications from the internet, and prevents lateral threat movement. The company benefits from a recurring SaaS model, broad enterprise adoption across 45% of the Fortune 500, and diversified global revenue. Its platform consolidates secure web gateway, private access, digital experience, AI security, and SecOps capabilities, offering customers strong ROI through appliance displacement, lower complexity, and improved performance.