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Nutanix, Inc. (NTNX) SEC Filing 10-Q Quarterly Report for the period ending Sunday, October 31, 2021

Nutanix, Inc.

CIK: 1618732 Ticker: NTNX
Exhibit 99.1


Nutanix Reports First Quarter Fiscal 2022 Financial Results

Delivers 33% YoY ACV Billings Growth and 21% YoY Revenue Growth

Drives Outperformance Across All Guided Metrics With Continued Execution on Hybrid Multicloud Vision

SAN JOSE, Calif.--(BUSINESS WIRE)--November 23, 2021--Nutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced financial results for its first quarter ended October 31, 2021.

“Our first quarter was a good start to our fiscal year, demonstrating strong year-over-year top and bottom-line improvement,” said Rajiv Ramaswami, President and CEO of Nutanix. “We continued to execute towards our targets of free cash flow break-even in the second half of calendar 2022 and a 25 percent-plus ACV billings CAGR through fiscal 2025.”

“In our first quarter, we achieved record ACV billings, which grew 33 percent year-over-year, and saw 21 percent year-over-year revenue growth, our highest growth in over three years,” said Duston Williams, CFO of Nutanix. “With the continued progress we’ve made on our subscription model, we believe it’s now appropriate to provide annual guidance. Additionally, having gained a better understanding of potential fluctuations in our average contract term lengths, we are guiding to revenue, on both a quarterly and annual basis.”

First Quarter Fiscal 2022 Financial Summary

 


Q1 FY’22


Q1 FY’21


Y/Y Change

Annual Contract Value (ACV)1 Billings


$183.3 million


$137.8 million


33%

Annual Recurring Revenue (ARR)2


$952.6 million


$569.5 million


67%

Run-rate Annual Contract Value (ACV)3


$1.59 billion


$1.29 billion


23%

Average Contract Term4


3.1 years


3.5 years


(0.4) year

Revenue5


$378.5 million


$312.8 million


21%

GAAP Gross Margin


78.5%


78.3%


20 bps

Non-GAAP Gross Margin


82.1%


81.9%


20 bps

GAAP Operating Expenses


$434.3 million


$426.9 million


2%

Non-GAAP Operating Expenses


$352.6 million


$341.2 million


3%

Free Cash Flow


$(1.9) million


$(16.3) million


$14.4 million

Reconciliations between GAAP and non-GAAP financial measures and key performance measures, to the extent available, are provided in the tables of this press release.


The following information was filed by Nutanix, Inc. (NTNX) on Tuesday, November 23, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Nutanix, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Loss
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Deficit
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Additional Information (Details)
Balance Sheet Components - Schedule Of Accrued Compensation Benefits (Details)
Balance Sheet Components - Schedule Of Accrued Expenses And Other Current Liabilities (Details)
Balance Sheet Components - Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense (Details)
Balance Sheet Components - Schedule Of Intangible Assets, Net (Details)
Balance Sheet Components - Schedule Of Investments In Marketable Debt Securities, By Contractual Maturity Date (Details)
Balance Sheet Components - Schedule Of Prepaid Expenses And Other Current Assets (Details)
Balance Sheet Components - Schedule Of Property And Equipment, Net (Details)
Balance Sheet Components - Schedule Of Property And Equipment, Net (Parenthetical) (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Convertible Senior Notes
Convertible Senior Notes (Tables)
Convertible Senior Notes - Additional Information (Details)
Convertible Senior Notes - Components Of Debt (Details)
Convertible Senior Notes - Components Of Notes (Parenthetical) (Details)
Convertible Senior Notes - Interest Expense Recognized (Details)
Convertible Senior Notes - Net Proceeds From Notes (Details)
Equity Incentive Plans
Equity Incentive Plans (Tables)
Equity Incentive Plans - Additional Information (Details)
Equity Incentive Plans - Espp (Details)
Equity Incentive Plans - Rsu (Details)
Equity Incentive Plans - Stock Based Compensation Expense (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Fair Value Of Financial Assets And Liabilities (Details)
Fair Value Measurements - Non-Recurring Basis (Details)
Fair Value Measurements - Schedule Of Changes In Derivative Liability (Details)
Fair Value Measurements - Schedule Of Derivative Liability Measurement Inputs And Valuation Techniques (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Remaining Maturity Under Topic 842 (Details)
Leases - Supplemental Balance Sheet (Details)
Leases - Supplemental Cash Flow And Other Information (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Additional Information (Details)
Net Loss Per Share - Antidilutive Securities (Details)
Net Loss Per Share - Computation Of Basic And Diluted Net Loss Per Share (Details)
Overview And Basis Of Presentation
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Overview And Basis Of Presentation (Tables)
Overview And Basis Of Presentation - Additional Information (Details)
Overview And Basis Of Presentation - Schedules Of Concentration Of Revenue And Accounts Receivable (Details)
Revenue, Deferred Revenue And Deferred Commissions
Revenue, Deferred Revenue And Deferred Commissions (Tables)
Revenue, Deferred Revenue And Deferred Commissions - Additional Information (Details)
Revenue, Deferred Revenue And Deferred Commissions - Deferred Revenue, By Arrangement, Disclosure (Details)
Revenue, Deferred Revenue And Deferred Commissions - Revenue By Arrangement, Disclosure (Details)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Details)
Segment Information - Schedule Of Revenue By Geographic Area (Details)
Segment Information - Schedule Of Sets Forth Long-Lived Assets Include Property And Equipment, Net (Details)
Stockholders' Equity
Stockholders' Equity - Additional Information (Details)
Ticker: NTNX
CIK: 1618732
Form Type: 10-Q Quarterly Report
Accession Number: 0000950170-21-005015
Submitted to the SEC: Thu Dec 02 2021 4:09:39 PM EST
Accepted by the SEC: Thu Dec 02 2021
Period: Sunday, October 31, 2021
Industry: Prepackaged Software

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