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Oct 31, 2021
Nutanix Q1 2022 Earnings Report
Nutanix reported strong first quarter results with year-over-year top and bottom-line improvement.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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