Thursday, August 30, 2018

Nutanix says software sales growing at 49% annual clip

Nutanix reported revenue of $303.7 million for its fourth quarter ended July 31, 2018, up from $252.5 million a year earlier, reflecting the elimination of approximately $95 million in pass-through hardware revenue in the quarter as the company continues to execute its shift toward increasing software revenue.

Software and support revenue amounted to $267.9 million in the quarter, growing 49% year-over-year from $179.6 million in the fourth quarter of fiscal 2017.

GAAP net loss was $87.4 million, compared to a GAAP net loss of $66.1 million in the fourth quarter of fiscal 2017. Non-GAAP net loss of $19.0 million, compared to a non-GAAP net loss of $26.0 million in the fourth quarter of fiscal 2017.

“We ended the year on a high note with a record quarter on many fronts, positioning us extremely well for the future. We will continue to invest in talent and hybrid cloud technology while incubating strategic multi-cloud investments such as Netsil, Beam, and now Frame,” said Dheeraj Pandey, Chairman, Founder and CEO of Nutanix. “Frame increases our addressable market, brings another service to our growing platform, and adds employees with insurgent mindsets who will help us continue to challenge the status quo.”

“The company’s strong achievement of 78 percent non-GAAP gross margin, the best in our history, is the direct result of our successful execution toward a software-defined business model,” said Duston Williams, CFO of Nutanix. “We’re also tracking above our target performance we set using the ‘Rule of 40’ framework, demonstrating our ability to balance growth and cash flow.”