March 2nd, 2018 by Adam Armstrong
Nutanix Reports 2Q18 Earnings
Nutanix Inc. reported its earnings for the second quarter of its fiscal year that ended January 31, 2018. The company saw a modest increase in its revenue from the previous quarter as well as a small increase in net loss. Overall the company’s stock improved slightly over the quarter.
The company reported revenue of $286.7 million up 44% from the same time last year and up from $275.6 million of last quarter. Nutanix saw net losses of $62.6 million GAAP (slightly higher than last quarter’s $61.5 million) and $23.3 million non-GAAP (an improvement over last quarter’s $24.7 million). For net loss per share this comes out to $0.39 GAAP and $0.14 non-GAAP. The company reported cash and short-term investments of $918.3 million up 159% from the same time last year. Nutanix is also reporting an operating cash flow of $46.4 million and a free cash flow of $32.4 million.
The company is reporting another good quarter. They were able to add over 1,000 new customers bringing the total to nearly 9,000. Their billings grew to $355.9 million. Revenue was up even after the elimination of $14 million in hardware revenue (as they continue their transition to software). Nutanix signed five software deal worth over $3 million. And the company was named a leader in Gartner’s Magic Quadrant for HCI.
Outlook for next quarter sees revenue between $275 and $280 million; Non-GAAP gross margin between 67% and 68%; Non-GAAP operating expenses between $218 and $220 million; and Non-GAAP net loss per share between $0.19 and $0.21, using 167 million weighted shares outstanding.