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

Nutanix, Inc.

CIK: 1618732 Ticker: NTNX
 
 Exhibit 99.1

Nutanix Reports Second Quarter Fiscal 2021 Financial Results

Delivers Record ACV Billings, Exceeds Guidance Across all Metrics

Continues Momentum with Run-rate ACV up 28% YoY, Bolstered by Over 100% YoY Growth in Emerging Product New ACV 5

SAN JOSE, Calif.--(BUSINESS WIRE)--February 24, 2021--Nutanix, Inc. (NASDAQ: NTNX), a leader in private cloud, hybrid and multicloud computing, today announced financial results for its second quarter ended January 31, 2021.

“We delivered a strong quarter across the board, exceeding guidance on all metrics and continuing our momentum with key customer wins and solid execution,” said Rajiv Ramaswami, President and CEO of Nutanix. “In my first two months as CEO of Nutanix, my conviction that we have a talented employee base, loyal customers who love the simplicity of our software, and a strong market opportunity ahead of us has only been reinforced.”

“We delivered record ACV billings with growth of 14 percent year-over-year, bolstered by the strength of our emerging products,” said Duston Williams, CFO of Nutanix. “We continued to make progress on our transition to subscription and maintained our disciplined approach to managing operating expenses, which were lower than expected this quarter. We look forward to continuing to execute on our transformation and are confident Nutanix is well positioned for long-term value creation.”

Second Quarter Fiscal 2021 Financial Summary

 

 

Q2 FY’21

 

Q2 FY’20

 

Y/Y Change

Annual Contract Value (ACV)1 Billings

 

$159.2 million

 

$139.5 million

 

14%

Run-rate Annual Contract Value (ACV)2

 

$1.38 billion

 

$1.08 billion

 

28%

Total Average Contract Term3

 

3.4 years

 

3.9 years

 

(0.5) years

Total Revenue4

 

$346.4 million

 

$346.8 million

 

Flat

GAAP Gross Margin

 

79.5%

 

78.3%

 

120 bps

Non-GAAP Gross Margin

 

82.7%

 

81.4%

 

130 bps

GAAP Operating Expenses

 

$431.7 million

 

$478.6 million

 

(10)%

Non-GAAP Operating Expenses

 

$353.5 million

 

$396.3 million

 

(11)%

Free Cash Flow

 

$(28.5) million

 

$(73.7) million

 

$45.2 million


The following information was filed by Nutanix, Inc. (NTNX) on Wednesday, February 24, 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' Equity (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 Notes (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 - Antidilutive Securities (Details)
Net Loss Per Share - Computation Of Basic And Diluted Net Loss Per Share (Details)
Overview And Basis Of Presentation
Overview And Basis Of Presentation (Policies)
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)
Stockholders' Equity
Stockholders' Equity - Additional Information (Details)
Ticker: NTNX
CIK: 1618732
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-21-010978
Submitted to the SEC: Thu Mar 04 2021 4:33:15 PM EST
Accepted by the SEC: Thu Mar 04 2021
Period: Sunday, January 31, 2021
Industry: Prepackaged Software

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