Wednesday, September 14, 2016

Nutanix S1 Filing: Quarterly Revenue at $139.8 million

For its most recently fiscal quarter ended 31-July-2016, Nutanix recorded revenue of $139.8 million, according to a recently updated Form S-1 registration statement filed with the SEC ahead of a potential initial public offering (IPO).

Nutanix provides a next-generation enterprise cloud platform that "converges traditional silos of server, virtualization and storage into one integrated solution and can also connect to public cloud services."

Some additional highlights from the S1 filing:

  • The company recorded a net loss of $126,127,000 for fiscal 2015, and a net loss of $84,003,000 for fiscal 2014.    
  • Average billings growth of 20% on a quarterly basis for the last eight fiscal quarters, which grew from $60.8 million in the three months ended October 31, 2014.
  • Average revenue growth of 17% on a quarterly basis for the last eight fiscal quarters, which grew from $46.1 million in the three months ended October 31, 2014 to $139.8 million in the three months ended July 31, 2016.
  • Average total end-customer growth of approximately 22% on a quarterly basis over the last eight fiscal quarters, which grew from 782 end-customers as of July 31, 2014 to 3,768 end-customers as of July 31, 2016. 
  • 657 new end-customers acquired during the three months ended July 31, 2016.
  • Adjusted gross margin percentage of 61% in the three months ended July 31, 2016.
  • Dell has accounted for "a meaningful portion" of Nutanix total billings over the past few fiscal quarters. This OEM relationship could be at risk given the recent Dell-EMC merger.
  • Super Micro Computer and Avnet provide contract assembly and testing for Nutanix.

The full filing is here:

Nutanix Files for IPO

Nutanix has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering of its Class A common stock.

Nutanix is seeking to list its Class A common stock on The NASDAQ Global Select Market under the ticker symbol "NTNX.”

Goldman, Sachs & Co. and Morgan Stanley & Co. LLC will act as lead book-running managers, J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC will act as book-running managers for the proposed offering. Robert W. Baird & Co. Incorporated; Needham & Company LLC; Oppenheimer & Co. Inc.; Pacific Crest Securities, a division of KeyBanc Capital Markets Inc.; Piper Jaffray & Co.; Raymond James; Stifel; and William Blair & Company, L.L.C. will act as co-managers.

Nutanix Raises $140 Million for Converged Data Center Solutions

Nutanix, a start-up based in San Jose, California, announced a $140 million Series E funding round at over a $2 billion valuation.

Nutanix offers a Virtual Computing Platform, which integrates compute and storage into a single solution for the data center. Its web-scale software runs on all popular virtualization hypervisors, including VMware vSphere, Microsoft Hyper-V and open source KVM, and is uniquely able to span multiple hypervisors in the same environment.

The latest round brings Nutanix's total funding to $312 million.

  • In June 2014, Nutanix announced an OEM deal under which Dell will offer a new family of converged infrastructure appliances based on Nutanix web-scale technology under an OEM deal announced by the firms. The companies said the combination of Nutanix’s software running on Dell’s servers delivers a flexible, scale-out platform that brings IT simplicity to modern data centers.
    Specifically, the new Dell XC Series of Web-scale Converged Appliances will be built with Nutanix software running on Dell PowerEdge servers.