Added factors have no prior-year match; removed factors have no current-year match. Changed wording describes edits within matched factors. Check whether unmatched wording was reorganised elsewhere: an added factor does not establish a new risk, and a removed factor does not establish resolved exposure.

🟡 Changed wording Disclosure change7/10

Our business is subject to the risks of earthquakes, fire, floods and other natural catastrophic events, and to interruption by man-made problems such as acts of war and international conflicts.

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Sentence-level differences:

View all 12 sentence differences

Removed sentence: "Our corporate headquarters are located in the San Francisco Bay Area, a region known for seismic activity."
Removed sentence: "A significant natural disaster, such as an earthquake, fire, flood or public health emergency, occurring at our headquarters, in India, where we have significant facilities, or where a key channel partner, vendor or data center is located could adversely affect our business, results of operations and financial condition."
Removed sentence: "Further, if a natural disaster or man-made problem were to affect our component suppliers or other third-party providers, including our network bandwidth and SaaS solution providers, this could materially and adversely affect our ability to provide services in a timely or cost-effective manner."
Removed sentence: "In addition, natural disasters, acts of war, international conflicts, such as the current conflicts between Russia and Ukraine and in the Middle East, terrorism and other geopolitical unrest or health issues, such as an outbreak of a pandemic or epidemic disease, or fear of such events, could cause disruptions in our or our customers’ businesses, national economies or the world economy as a whole."
Removed sentence: "In addition, computer malware, viruses and computer hacking, fraudulent use attempts and phishing attacks have become more prevalent in our industry and may become more frequent and effective through the use of AI."
Removed sentence: "As a result, our internal systems may be victimized by such attacks."
Added sentence: "An extreme natural disaster, such as an earthquake, fire, flood or severe weather event; a man-made problem, such as an act of war or international conflict; or a public health emergency occurring where we have significant facilities, employees, customers, channel partners, component suppliers, vendors, data centers or other infrastructure could adversely affect our business, results of operations and financial condition."
Added sentence: "Our corporate headquarters are located in the San Francisco Bay Area, and we have significant facilities in India."
Added sentence: "Both regions have heightened exposure to natural disasters including earthquakes, fires and floods."
Added sentence: "In addition to the natural disasters and man-made problems described above, cyberattacks have become more prevalent and damaging and may become more frequent and effective through the use of AI."
Added sentence: "Any of these potential natural or man-made problems could adversely impact our business or cause widespread issues in national economies or the world economy, which could adversely impact our business."
Removed sentence: "Though it is difficult to determine what, if any, harm may directly result from any specific interruption or attack, any failure to maintain performance, reliability, security and availability of our platform to the satisfaction of our users may materially harm our reputation and our ability to retain existing customers and attract new customers."

Current (2026):

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An extreme natural disaster, such as an earthquake, fire, flood or severe weather event; a man-made problem, such as an act of war or international conflict; or a public health emergency occurring where we have significant facilities, employees, customers, channel partners, component suppliers, vendors, data centers or other infrastructure could adversely affect our business, results of operations and financial condition. Our corporate headquarters are located in the San Francisco Bay Area, and we have significant facilities in India. Both regions have heightened exposure to natural disasters including earthquakes, fires and floods. In addition to the natural disasters and man-made problems described above, cyberattacks have become more prevalent and damaging and may become more frequent and effective through the use of AI. Any of these potential natural or man-made problems could adversely impact our business or cause widespread issues in national economies or the world economy, which could adversely impact our business.

Although we maintain incident management and disaster response plans, in the event of a major disruption caused by a natural disaster or man-made problem, we may be unable to continue our operations and may endure system interruptions, reputational harm, delays in our development activities, lengthy interruptions in service, security breaches and incidents and loss of critical data.

View prior text (2025)

Our corporate headquarters are located in the San Francisco Bay Area, a region known for seismic activity. A significant natural disaster, such as an earthquake, fire, flood or public health emergency, occurring at our headquarters, in India, where we have significant facilities, or where a key channel partner, vendor or data center is located could adversely affect our business, results of operations and financial condition. Further, if a natural disaster or man-made problem were to affect our component suppliers or other third-party providers, including our network bandwidth and SaaS solution providers, this could materially and adversely affect our ability to provide services in a timely or cost-effective manner.

In addition, natural disasters, acts of war, international conflicts, such as the current conflicts between Russia and Ukraine and in the Middle East, terrorism and other geopolitical unrest or health issues, such as an outbreak of a pandemic or epidemic disease, or fear of such events, could cause disruptions in our or our customers’ businesses, national economies or the world economy as a whole. In addition, computer malware, viruses and computer hacking, fraudulent use attempts and phishing attacks have become more prevalent in our industry and may become more frequent and effective through the use of AI. As a result, our internal systems may be victimized by such attacks. Although we maintain incident management and disaster response plans, in the event of a major disruption caused by a natural disaster or man-made problem, we may be unable to continue our operations and may endure system interruptions, reputational harm, delays in our development activities, lengthy interruptions in service, security breaches and incidents and loss of critical data. Though it is difficult to determine what, if any, harm may directly result from any specific interruption or attack, any failure to maintain performance, reliability, security and availability of our platform to the satisfaction of our users may materially harm our reputation and our ability to retain existing customers and attract new customers.

2026: Our business is subject to the risks of earthquakes, fire, floods and other natural catastrophic events, and to interruption by man-made problems such as acts of war and international conflicts. — exact passage unavailable; open filing

2025: Our business is subject to the risks of earthquakes, fire, floods and other natural catastrophic events, and to interruption by man-made problems such as power disruptions, computer viruses, acts of war, international conflicts, terrorism and security breaches or incidents. — exact passage unavailable; open filing

Zscaler Inc.: 10-K Risk Factor Changes

Disclosure overview

Our business is subject to the risks of earthquakes, fire, floods and other natural catastrophic events, and to interruption by man-made problems such as acts of war and international conflicts.