December 23rd, 2015 by Adam Armstrong
Nutanix Files Paperwork For Purposed IPO
Yesterday Nutanix announced that it has filed its S-1 form with the U.S. Securities and Exchange Commission (SEC) in the first step of going public. Nutanix will be traded on the NASDAQ Global Select Market under the ticker symbol “NTNX.” A specific time frame isn’t available yet but it seems that the IPO will be in the next few weeks.
We have covered Nutanix quite a few times in the past including a review that didn’t quite happen. Nutanix was founded in 2009 by Dheeraj Pandey, who is their current CEO. Nutanix makes hyperconverged solutions where the storage, compute, and virtualization is converged onto a commodity x86 server, what Nutanix calls invisible infrastructure. There are 1,368 employees and over 2,100 customers. Nutanix has had several successful funding rounds including their Series E funding round that raised $140 million and pushed the company to over a $2 billion valuation.
Nutanix has not named the amount of stock to be issued or a price. The number at the moment is $200 million for the capital Nutanix is looking to raise. This seems a bit low considering their trajectory, Pure Storage for example was aiming to raise around $400 million with its IPO. Then again, Violin Memory only raised $162 million when it went public a few years back and Nimble took in about $168 million. Looking at other numbers for Nutanix, it had a net loss of $126 million (up 50% from the prior year) on $241 million in revenue for its fiscal year (up 90% over the prior year), which ended on July 31. Public markets have not been entirely kind to storage of late, Nimble is down 2/3 from its highs and Violin is struggling to stay viable at all. The jury will be out for another year or so for Pure before a more conclusive story can be told there.