{"id":387112,"date":"2020-11-23T16:05:05","date_gmt":"2020-11-23T21:05:05","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387112"},"modified":"2020-11-23T16:05:05","modified_gmt":"2020-11-23T21:05:05","slug":"nutanix-reports-first-quarter-fiscal-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nutanix-reports-first-quarter-fiscal-2021-financial-results\/","title":{"rendered":"Nutanix Reports First Quarter Fiscal 2021 Financial Results"},"content":{"rendered":"

<\/p>\n

Nutanix Reports First Quarter Fiscal 2021 Financial Results<\/b><\/p>\n

— Delivers Strong Start to the Fiscal Year with ACV Billings up 10% YoY<\/i><\/p>\n

— Grows Run-rate ACV to $1.3 Billion, up 29% YoY<\/i><\/p>\n

— Reaches Record-High New ACV from New Products, up 87% YoY<\/i><\/p>\n

SAN JOSE, Calif.–(BUSINESS WIRE<\/a>)–Nutanix<\/a>, Inc. (NASDAQ: NTNX<\/a>), a leader in private cloud, hybrid, and multicloud computing, today announced financial results<\/a> for its first quarter ended October 31, 2020.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201123006190\/en\/<\/a><\/p>\n

\"Nutanix<\/p>\n

Nutanix Q1FY21 Earnings Infographic (Graphic: Nutanix)<\/p>\n<\/div>\n

\n\u201cWe are pleased with our financial performance in the first quarter, which marked a strong start to fiscal 2021 including increased adoption of new products as well as continued growth in our core hyperconverged infrastructure software,\u201d said Dheeraj Pandey, Chairman, Co-Founder and CEO of Nutanix. \u201cAfter launching our solutions on AWS in August, we announced a major partnership with Microsoft to develop our portfolio on Azure, placing the Nutanix HCI (Hybrid Cloud Infrastructure) at a significant competitive advantage to help our customers build out their hybrid and multicloud environments.\u201d\n<\/p>\n

\n\u201cOur ACV-first strategy and solid go-to-market execution drove outperformance across all key financial metrics including ACV billings growth of 10 percent year-over-year and run-rate ACV growth of 29 percent year-over-year,\u201d said Duston Williams, CFO of Nutanix. \u201cLooking ahead, we remain focused on thoughtfully managing operating expenses as we continue to execute on our business model transformation and are confident in Nutanix\u2019s ability to drive long-term growth for the benefit of all stakeholders.\u201d\n<\/p>\n

First Quarter Fiscal 2021 Financial Summary<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

Q1 FY\u201921<\/b><\/p>\n<\/td>\n

\n\n

Q1 FY\u201920<\/b><\/p>\n<\/td>\n

\n\n

Y\/Y Change<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nAnnual Contract Value (ACV)1<\/sup><\/i> Billings\n<\/p>\n<\/td>\n

\n\n

\n$137.8 million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$125.6 million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n10%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRun-rate Annual Contract Value (ACV)2<\/sup><\/i><\/p>\n<\/td>\n

\n\n

\n$1.29 billion\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$1.00 billion\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n29%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Average Contract Term3<\/sup><\/i><\/p>\n<\/td>\n

\n\n

\n3.5 years\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3.9 years\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(0.4) years\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Revenue4<\/sup><\/i><\/p>\n<\/td>\n

\n\n

\n$312.8 million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$314.8 million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(0.6)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP Gross Margin\n<\/p>\n<\/td>\n

\n\n

\n78.3%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n77.1%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n120 bps\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-GAAP Gross Margin\n<\/p>\n<\/td>\n

\n\n

\n81.9%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n80.1%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n180 bps\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP Operating Expenses\n<\/p>\n<\/td>\n

\n\n

\n$426.9 million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$462.9 million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(8)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-GAAP Operating Expenses\n<\/p>\n<\/td>\n

\n\n

\n$341.2 million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$386.3 million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(12)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nFree Cash Flow\n<\/p>\n<\/td>\n

\n\n

\n$(16.3) million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$(44.4) million\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$28 million\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nReconciliations between GAAP and non-GAAP financial measures and key performance measures are provided in the tables of this press release.\n<\/p>\n

\n

Recent Company Highlights<\/b><\/p>\n