Zoom announced its quarterly results for Q1 of the fiscal year 2023 (FY 2023), and the results confirmed that its “land and expand strategy” is working. The company’s revenue rose 12.3% year over year (YoY) to $1.07 billion. It also reported two-quarters of sequential growth for its gross margin, which management attributed to optimizing usage across the public cloud and increasing the number of co-located data centers.
To those unversed in sales terminology, a “land-and-expand” strategy is where a sales rep lands a small deal with an organization, then continues to build the relationship and sell more services and products into the organization.
