Nutanix (NTNX) reported third-quarter fiscal 2024 non-GAAP earnings of 28 cents per share, which surpassed the Zacks Consensus Estimate by 64.71%. The company had delivered an adjusted earnings per share of 4 cents in the year-ago quarter.Nutanix’s revenues climbed 17% year over year to $524.6 million, beating the Zacks Consensus Estimate by 1.64% and the guided range of $510-$520 million.The top line was primarily driven by growth in NTNX’s core hyper-converged infrastructure software and the solid adoptio ...

Financial Data and Key Metrics Changes - Nutanix reported quarterly revenue of $525 million, exceeding the guided range of $510 million to $520 million, representing a year-over-year growth rate of 17% [18] - Annual Recurring Revenue (ARR) grew 24% year-over-year to $1.82 billion [8][18] - Non-GAAP gross margin was 86.5%, higher than the guided range of approximately 85% [19] - Non-GAAP operating margin was 14%, exceeding the guided range of 7.5% to 8.5% [19] - Free cash flow in Q3 was $78 million, representing a free cash flow margin of 15% [20] Business Line Data and Key Metrics Changes - ACV billings in Q3 were $289 million, above the guided range of $265 million to $275 million, representing year-over-year growth of 20% [18] - The company experienced modestly elongated average sales cycles compared to historical levels, with average contract duration in Q3 being three years, higher than Q2 [18] Market Data and Key Metrics Changes - The number of opportunities greater than $1 million in ACV in the pipeline has grown at higher than 30% for each of the last three quarters compared to the corresponding quarters last year [23] - The dollar amount of pipeline from opportunities greater than $1 million in ACV has grown at well over 50% for each of the last three quarters compared to the corresponding quarters last year [23] Company Strategy and Development Direction - Nutanix is focusing on enhancing the functionality of its cloud platform and broadening partnerships, particularly in support of modern applications and enterprise AI [12] - The company announced partnerships with Hugging Face and NVIDIA to enhance its enterprise AI offerings [13] - Nutanix is also expanding its partnership with Dell to deliver integrated hyper-converged solutions [15] Management's Comments on Operating Environment and Future Outlook - Management noted steady demand for solutions driven by businesses prioritizing digital transformation and infrastructure modernization [7] - The company expects continued variability in timing and outcomes for larger deals due to longer sales cycles and strategic decision-making processes [24] - Management remains committed to driving top-line growth and strong free cash flow generation [52] Other Important Information - Nutanix's annual .NEXT conference in Barcelona attracted over 4,000 attendees, showcasing the company's innovations and partnerships [12] - The company has repurchased approximately $106 million worth of shares year-to-date through Q3 '24 [20] Q&A Session Summary Question: Insights on extending AHP to support compute-only nodes - Management explained that supporting AHP with Dell PowerFlex allows faster entry into accounts without requiring hardware refresh, facilitating migration to HCI architecture [28][29] Question: Size of the eight-figure deal and its impact on free cash flow guidance - Management refrained from disclosing specific deal sizes but confirmed that the deal's total contract value was larger than expected, contributing positively to free cash flow guidance [34] Question: Updates on partnerships with Cisco - Management reported good progress with Cisco, including new wins and certification of Nutanix's hypervisor to run on Cisco UCS servers [36][38] Question: Changes in guidance philosophy due to larger deal variability - Management stated that the guidance philosophy remains unchanged, focusing on creating visibility and scrutiny around pipeline opportunities [70] Question: Trends in repatriation and hybrid cloud - Management noted that while repatriation is not a major trend, there are instances of customers moving workloads back on-prem, emphasizing the need for modern applications in a hybrid cloud model [86][87]

For the quarter ended April 2024, Nutanix (NTNX) reported revenue of $524.58 million, up 16.9% over the same period last year. EPS came in at $0.28, compared to $0.04 in the year-ago quarter.The reported revenue represents a surprise of +1.64% over the Zacks Consensus Estimate of $516.13 million. With the consensus EPS estimate being $0.17, the EPS surprise was +64.71%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expe ...

Nutanix (NTNX) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 64.71%. A quarter ago, it was expected that this enterprise cloud platform services provider would post earnings of $0.29 per share when it actually produced earnings of $0.46, delivering a surprise of 58.62%.Over the last ...

Nutanix (NTNX) on Wednesday reported fiscal third-quarter earnings and revenue that topped consensus estimates. July quarter revenue guidance for Nutanix stock came in well below expectations, sending shares tumbling.X Reported after the close, Nutanix earnings for the quarter ended April 30 were 28 cents a share on an adjusted basis vs. 4 cents a year earlier. That topped estimates for an 17-cent adjusted profit.The maker of cloud-computing network management software said revenue rose 17% to $524.6 millio ...

Exhibit 99.1 Nutanix Reports Third Quarter Fiscal 2024 Financial Results Reports 24% YoY ARR Growth and Strong Year-to-Date Free Cash Flow Delivers Outperformance Across All Third Quarter Guided Metrics SAN JOSE, Calif. – May 29, 2024 – Nutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced financial results for its third quarter ended April 30, 2024. "We delivered solid third quarter results reflecting disciplined execution and the strength of our business model," said Rajiv ...

In the latest trading session, Nutanix (NTNX) closed at $72.85, marking a +1.96% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.7%. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.1%.Heading into today, shares of the enterprise cloud platform services provider had gained 17.34% over the past month, outpacing the Computer and Technology sector's gain of 8.26% and the S&P 500's gain of 4.03% in that time.The i ...

The upcoming report from Nutanix (NTNX) is expected to reveal quarterly earnings of $0.17 per share, indicating an increase of 325% compared to the year-ago period. Analysts forecast revenues of $516.13 million, representing an increase of 15.1% year over year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's earnings release, it is ...

Nutanix (NTNX) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this enterprise cloud platform services provider have returned +13.7%, compared to the Zacks S&P 500 composite's +5% change. During this period, the Zacks Computers - IT Services industry, which Nutanix falls in, has gained 6.3%. The key question now is: What could be the stock's future direct ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Nutanix (NTNX) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Nutanix currently has an average brokerage ...