Zoom should have the “same experience” however you’re using it, Yuan said on the investor call. Though Zoom is increasingly being used by consumers, and not just the enterprise and business customers it was built for, Zoom CEO Eric Yuan suggested the company has no plans to start building out a consumer-specific product beyond the free calling experience it already offers. Zoom does, however, expect to see increased customer losses in the second half of the year simply because of how many new users it’s picked up. The company expects to make upward of $1.8 billion in revenue over the course of the year. Zoom predicts a huge next quarter, more than tripling its previous revenue. And so far, it seems like Zoom expects its success to continue. These changes are meant to ensure that, as its usage balloons, Zoom doesn’t lose users over security concerns. In May, Zoom acquired the identity service startup Keybase and directed its engineers toward working on an end-to-end encryption solution. Other features, like actual end-to-end encryption, are being worked on. Several of the most egregious issues - like the questionable installer and convenience features that enabled people to drop in on calls uninvited - have been fixed or improved. Zoom responded by instituting a 90-day feature freeze while it overhauled the app’s security practices. Features meant for convenience also enabled harassment through Zoom bombing, while the app’s Mac installer was caught using a “malware-like” approach to speed things up.

The company was heavily criticized for implying its video chats were fully encrypted when they were not. That figure has since fallen from its peak in April, Zoom CFO Kelly Steckelberg said on a call with investors, but “certainly over the long term, we expect it to grow beyond that 300 million number.”Īt the same time, Zoom has faced incredible scrutiny of its security practices. Zoom previously said that usage has grown to 300 million meeting participants each day, up from just 10 million in December. The earnings report, Zoom’s first since the pandemic was declared, offers a deeper look at how the company performed as its video chat software become the de facto tool for work meetings and staying in touch with family and friends while much of the world is stuck at home.

Zoom is rapidly making changes to keep users

Zoom video stock