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Nutanix, Inc. (NTNX) SEC Filing 10-Q Quarterly report for the period ending Saturday, October 31, 2020

Nutanix, Inc.

CIK: 1618732 Ticker: NTNX
Exhibit 99.1

Nutanix Reports First Quarter Fiscal 2021 Financial Results

-- Delivers Strong Start to the Fiscal Year with ACV Billings up 10% YoY

-- Grows Run-rate ACV to $1.3 Billion, up 29% YoY

-- Reaches Record-High New ACV from New Products, up 87% YoY

SAN JOSE, Calif.--(BUSINESS WIRE)--November 23, 2020--Nutanix, Inc. (NASDAQ: NTNX), a leader in private cloud, hybrid, and multicloud computing, today announced financial results for its first quarter ended October 31, 2020.

“We 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,” said Dheeraj Pandey, Chairman, Co-Founder and CEO of Nutanix. “After 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.”

“Our 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,” said Duston Williams, CFO of Nutanix. “Looking ahead, we remain focused on thoughtfully managing operating expenses as we continue to execute on our business model transformation and are confident in Nutanix’s ability to drive long-term growth for the benefit of all stakeholders.”

First Quarter Fiscal 2021 Financial Summary

 


Q1 FY’21


Q1 FY’20


Y/Y Change

Annual Contract Value (ACV)1 Billings


$137.8 million

 

$125.6 million

 

10%

Run-rate Annual Contract Value (ACV)2


$1.29 billion

 

$1.00 billion

 

29%

Total Average Contract Term3


3.5 years

 

3.9 years

 

(0.4) years

Total Revenue4


$312.8 million

 

$314.8 million

 

(0.6)%

GAAP Gross Margin


78.3%

 

77.1%

 

120 bps

Non-GAAP Gross Margin


81.9%

 

80.1%

 

180 bps

GAAP Operating Expenses


$426.9 million

 

$462.9 million

 

(8)%

Non-GAAP Operating Expenses


$341.2 million

 

$386.3 million

 

(12)%

Free Cash Flow


$(16.3) million

 

$(44.4) million

 

$28 million

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


The following information was filed by Nutanix, Inc. (NTNX) on Monday, November 23, 2020 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 Statement
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Accrued Compensation Benefits (Details)
Balance Sheet Components - Accrued Liabilities (Details)
Balance Sheet Components - Future Amortization Expense (Details)
Balance Sheet Components - Intangible Assets (Details)
Balance Sheet Components - Prepaid Expenses And Other Current Assets (Details)
Balance Sheet Components - Property, Plant And Equipment (Details)
Balance Sheet Components - Short-Term Investments (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Convertible Senior Notes
Convertible Senior Notes (Tables)
Convertible Senior Notes - Additional Information (Details)
Convertible Senior Notes - Components Of Notes (Details)
Convertible Senior Notes - Interest Expense (Details)
Convertible Senior Notes - Proceeds From Notes (Details)
Equity Award Plans
Equity Award Plans (Tables)
Equity Award Plans - Additional Information (Details)
Equity Award Plans - Espp (Details)
Equity Award Plans - Rsu (Details)
Equity Award Plans - Stock Based Compensation Expense (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
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 (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 (Details)
Overview And Basis Of Presentation (Policies)
Overview And Basis Of Presentation (Tables)
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/Commissions (Details)
Revenue, Deferred Revenue And Deferred Commissions - Schedule Of Revenue (Details)
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Stockholders??? Equity
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Ticker: NTNX
CIK: 1618732
Form Type: 10-Q Quarterly Report
Accession Number: 0001618732-20-000144
Submitted to the SEC: Thu Dec 03 2020 4:51:44 PM EST
Accepted by the SEC: Thu Dec 03 2020
Period: Saturday, October 31, 2020
Industry: Prepackaged Software

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