Vetting the 265,400 number further from 3 additional sources…
Well, how about from the horse’s mouth (aka earnings announcement):
Approximately 265,400 customers with more than 10 employees, up 354% year-over-year
So, to be clear, Zoom exited Q1 with that many 11+ seat customers, they actually “only” grew that segment by 183,000:
We continue to see expansion in the up-market as we ended Q1 at 769 customers with greater than $100,000 in trailing 12 months revenue, up 90% year-over-year. This is an increase of 128 customers over Q4, a record number of adds in a quarter. Further demonstrating the strength in the up-market was the addition of over 500 customers with greater than $100,000 in annual recurring revenue in Q1. This is a one-time metric that we are sharing to provide more insight to our Q1 results. For customers with more than 10 employees, we added over 183,000 in Q1, exiting with a total of approximately 265,000 customers in this segment. Year-over-year, we added over 206,000 new customers, growing 354%.
Of the 265,400 customers (each with 11 or more users) they had at the end of April (Q1 end), 183,000 were new. YoY they added 206,000 customers in this 11+ segment.
End of Jan 2019: 59,400 customers with 11+ seats
End of Jan 2020: 82,400 customers with 11+ seats (added 23,000 customers during FY2020)
End of Apr 2020: 265,400 customers with 11+ seats (added 206,000 customers during Q1 FY2021!)
That’s absolutely amazing growth in customers in Q1, almost 9X the whole prior year in one quarter! Wow!
They shared a “one-time metric” (meaning we’ll not hear this number again) of adding 500 customers who each spend $100K+ annually during Q1. They exited the quarter with 769 of them (assuming the “trailing” qualifier doesn’t change things), so they only had 269 at the end of Jan 2020. So, they grew by almost 200% in the “big whale” enterprise segment during Q1. This is astounding and really great to see, as it must mean they’re taking business away from the 800-lb gorillas Cisco and Microsoft.