The stock market hasn't had the best of years in 2022, and the Nasdaq Composite (^IXIC -1.15%) in particular has been a big disappointment to investors. Down 29% from where it opened the year, the Nasdaq remains in the grip of the longest bear market the index has suffered in years.

Many of the high-growth stocks in the Nasdaq have seen even bigger year-to-date losses, despite the fact that their fundamental business performance has remained solid. Both CrowdStrike Holdings (CRWD -1.82%) and Zscaler (ZS -0.78%) have underperformed the broader Nasdaq year to date, but many investors are hopeful that when they release their latest financial reports this week, they'll be able to mount a recovery that could help lift the entire stock market. Here's what to expect from these two cybersecurity stocks.

CrowdStrike looks to maintain its exceptional growth

CrowdStrike Holdings has seen its stock lose about 30% of its value so far in 2022. However, investors are hoping for a bounce when the cybersecurity software provider reports its fiscal third-quarter results for the quarter ending Oct. 31. That release is scheduled for Tuesday, Nov. 29, in the afternoon after the close of regular trading.

Even with the stock down sharply this year, Crowdstrike has delivered impressive growth in its business. In the fiscal second quarter that ended July 31, its sales grew 58% year over year, with a 60% rise in subscription-based revenue. Annual recurring revenue climbed  to $2.14 billion, with $218 million coming in just the most recent three-month period. Adjusted net income more than tripled from year-earlier levels, and free cash flow saw big gains as well.

At that time, CrowdStrike believed that it would bring in between $569 million and $576 million in sales in the third quarter, with adjusted earnings of between $0.30 and $0.32 per share. That would represent growth of about 51% on the top line and more than 80% gains in profits, extending what has been a strong track record of success.

CrowdStrike's cloud-based Falcon endpoint cybersecurity platform has become immensely popular among some of the largest companies in the world. Enterprises large and small have to protect their vital customer information and data now more than ever, and that gives CrowdStrike a good opportunity to keep broadening its customer base and generate a greater amount of high-margin revenue going forward.

Zscaler looks to move higher

Investors in Zscaler (ZS -0.78%) have had to deal with even more extensive losses in 2022, with the stock down by more than half year to date. Like CrowdStrike, though, Zscaler has seen ongoing strength in its cloud security business, and investors are looking forward to its latest report after the close of the market on Thursday, Dec. 1.

Zscaler's results for the fiscal fourth quarter ending July 31 showed the company's growth potential. Revenue for the quarter jumped 61% year over year, with billings showing a similar 57% rise. Adjusted net income rose 80% to $36.4 million, and free cash flow more than doubled, approaching $75 million. The quarter ended a fiscal year in which the company saw 62% sales growth and a rise of 33% in adjusted earnings per share.

Looking ahead, Zscaler anticipates that its growth will slow, and that could be a source of some of its stock price declines. In its fiscal 2023 guidance, the cloud security specialist predicted revenue of between $1.49 billion and $1.5 billion, with adjusted earnings of $1.16 to $1.18 per share. That would represent sales growth of around 37% to 38%, but again, Zscaler's high-margin business would potentially produce faster gains in profit.

The company's zero-trust platform makes use of edge computing to ensure safety no matter how authorized users want to access key data. If Zscaler can reassure investors that its customers aren't slowing down on buying cybersecurity software, it would go a long way toward restoring confidence not just for itself but for the entire software-as-a-service industry.