Nutanix Inc. has reported a significant earnings beat, with a 26% year-over-year growth in Annual Recurring Revenue (ARR) and record margins, cash flow, and customer numbers. The cloud computing company announced a $430 million Free Cash Flow (FCF) guidance and now boasts $1.7 billion in recurring revenue, with 25,300 customers, an increase of 1,750 from the previous year. Billings grew by 23%, showing sequential strength, and the company achieved GAAP profits with a 22% Operating Cash Flow (OCF) margin, and $73m net new ARR. In an interview, Nutanix CEO Rajiv Ramaswami discussed the earnings beat and the drivers for the 2024 results. Despite an uncertain macroeconomic backdrop, Nutanix comfortably exceeded Wall Street's expectations. The company's stock rose 4% after surpassing quarterly estimates, posting earnings of 46 cents per share on revenues of $565 million. Amidst competition, particularly from VMware, which is navigating its initial months under Broadcom ownership, Nutanix's second-quarter revenue surged 16% year over year, prompting the company to raise all of its guidance for the remaining two quarters of the fiscal year.
As rival VMware churns through its opening months under Broadcom ownership, @nutanix’s Q2 revenue leaped 16 percent year over year and the company raised all of its guidance for the remaining two quarters. $NTNX https://t.co/DOjU0OCRPn
$NTNX stock spiked after the computer software company raised its guidance. CEO Rajiv Ramaswami joins Yahoo Finance to discuss: https://t.co/twToGoF6jk
As rival VMware churns through its opening months under Broadcom ownership, Nutanix’s second-quarter revenue leaped 16 percent year over year and the company raised all of its guidance for the remaining two quarters. https://t.co/4UcvDg8wki
$NTNX Nutanix — The cloud computing stock rose 4% after topping Wall Street’s quarterly estimates. Nutanix posted earnings of 46 cents per share on revenues totaling $565 million. https://t.co/P5GQ4TkeUN
Nutanix comfortably beats the Street’s expectations despite uncertain macroeconomic backdrop https://t.co/ItGgR029zc
I speak with @Nutanix CEO @RajivRamaswami about $NTNX's earnings beat and what will drive 2024 results. https://t.co/wVY5sd0G0Z
Nutanix Firing on All Cylinders: $NTNX Beat and raise +26% ARR Growth Y/Y Record margins, cash flow, customers $430M FCF Guide $1.7B recurring revenue 25.3k customers, +1,750 added Y/Y Billings +23%, sequential strength $73m net new ARR GAAP Profits 22% OCF Margin SBC dollars… https://t.co/3NWSQS2Ms0