Nutanix Q1 2022 Earnings Report
Key Takeaways
Nutanix reported a successful first quarter, marked by a 33% year-over-year increase in ACV billings and a 21% year-over-year increase in revenue, the highest growth achieved in over three years. The company is progressing towards free cash flow break-even in the second half of calendar 2022 and a 25% plus ACV billings CAGR through fiscal 2025.
ACV billings grew 33% year-over-year.
Revenue increased 21% year-over-year, marking the highest growth in over three years.
The company formed a strategic partnership with Citrix to power the future of work.
Nutanix launched AOS 6.0 with new integrated, zero-trust security, disaster recovery and virtual networking innovations.
Nutanix
Nutanix
Nutanix Revenue by Segment
Forward Guidance
Nutanix provided financial outlook for the second quarter and full fiscal year 2022.
Positive Outlook
- Second Quarter Fiscal 2022 ACV Billings $195 - $200 million
- Second Quarter Fiscal 2022 Revenue $400 - $410 million
- Second Quarter Fiscal 2022 Non-GAAP Gross Margin Approximately 82% to 82.5%
- Second Quarter Fiscal 2022 Non-GAAP Operating Expenses $360 - $365 million
- Second Quarter Fiscal 2022 Weighted Average Shares Outstanding Approximately 218 million
Challenges Ahead
- Fiscal Year 2022 ACV Billings $740 - $750 million
- Fiscal Year 2022 Revenue $1.615 - $1.630 billion
- Fiscal Year 2022 Non-GAAP Gross Margin Approximately 82%
- Fiscal Year 2022 Non-GAAP Operating Expenses $1.48 - $1.49 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income