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December 2021
November 2021
October 2021
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Exhibit 99.1
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Delivers Record ACV Billings and Revenue
Drives Outperformance Across All Guided Metrics With Consistent Execution
SAN JOSE, Calif.--(BUSINESS WIRE)--September 1, 2021--Nutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced financial results for its fourth quarter and fiscal year ended July 31, 2021.
“Our fourth quarter was a strong end to an excellent fiscal year, which was marked by consistent execution and solid progress across both financial and strategic objectives,” said Rajiv Ramaswami, President and CEO of Nutanix. “We have entered our fiscal 2022 with good momentum and a solid plan for growth, executing on the model we laid out at Investor Day and delivering on our vision of making clouds invisible.”
“We achieved records across a number of key metrics in the fourth quarter, including ACV billings and revenue, which grew 26 and 19 percent year over year, respectively,” said Duston Williams, CFO of Nutanix. “In fiscal 2022, we expect our growing base of low-cost renewals will drive further improvements in top and bottom line performance.”
Fourth Quarter Fiscal 2021 Financial Summary
|
Q4 FY’21 |
|
Q4 FY’20 |
|
Y/Y Change |
|
Annual Contract Value (ACV)1 Billings |
$176.3 million |
|
$139.9 million |
|
26% |
|
Annual Recurring Revenue (ARR)2 |
$878.7 million |
|
$481.3 million |
|
83% |
|
Run-rate Annual Contract Value (ACV)3 |
$1.54 billion |
|
$1.22 billion |
|
26% |
|
Average Contract Term4 |
3.4 years |
|
3.8 years |
|
(0.4) year |
|
Revenue5 |
$390.7 million |
|
$327.9 million |
|
19% |
|
GAAP Gross Margin |
79.9% |
|
79.6% |
|
30 bps |
|
Non-GAAP Gross Margin |
82.9% |
|
83.0% |
|
(10) bps |
|
GAAP Operating Expenses |
$454.1 million |
|
$432.3 million |
|
5% |
|
Non-GAAP Operating Expenses |
$372.5 million |
|
$345.8 million |
|
8% |
|
Free Cash Flow |
$(42.2) million |
|
$(13.8) million |
|
$(28.4) million |
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Nutanix, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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Non-GAAP Financial Measures and Key Performance Measures We regularly monitor total billings, subscription billings, ACV billings, ARR, run-rate ACV, adjusted gross profit, adjusted gross margin, free cash flow and non-GAAP operating expenses, which are non-GAAP financial measures and key performance measures, to help us evaluate our growth and operational efficiencies, measure our performance, identify trends in our sales activity and establish our budgets.
Furthermore, our customers may, including in response to the uncertainty caused by the COVID-19 pandemic, decide to purchase our software solutions on shorter subscription terms than they have historically, and/or request to only pay for the initial year of a multi-year subscription term upfront, which could negatively impact our billings, revenue and cash flow in a given period when compared to historical life-of-device or multiple-year term-based license sales.
We continue to invest in the growth of our business over the long-run, including the development of our solutions and investing in sales and marketing to capitalize on our market opportunities, while improving our operating cash flow performance by focusing on go-to-market efficiencies.
Sales and marketing expense decreased year-over-year for fiscal 2021 due primarily to lower marketing costs, travel and entertainment expenses and personnel-related costs as a result of the COVID-19 pandemic, as discussed in the "Impact of the COVID-19 Pandemic" section above.
We plan to invest in sales and marketing so that we can capitalize on our market opportunity, including investing in our sales and marketing teams, continuing our focus on opportunities with major accounts, large deals, and commercial accounts, as well as other sales and marketing initiatives to increase our pipeline growth.
Product gross margin increased by...Read more
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Financial Statements, Disclosures and Schedules
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Nutanix, Inc. provided additional information to their SEC Filing as exhibits
Ticker: NTNX
CIK: 1618732
Form Type: 10-K Annual Report
Accession Number: 0000950170-21-001852
Submitted to the SEC: Tue Sep 21 2021 4:41:41 PM EST
Accepted by the SEC: Tue Sep 21 2021
Period: Saturday, July 31, 2021
Industry: Prepackaged Software