Nutanix Q1 2023 Earnings Report
Key Takeaways
Nutanix delivered a solid first quarter financial performance, reflecting the value customers see in the Nutanix Cloud Platform and the strength of its subscription-based business model. The company also made progress towards realizing its hybrid multicloud vision with the general availability of Nutanix Cloud Clusters (NC2) on Microsoft Azure.
Delivered solid first quarter financial performance against an uncertain macro backdrop.
Made important progress towards realizing hybrid multicloud vision with the general availability of Nutanix Cloud Clusters (NC2) on Microsoft Azure.
Continued progress on subscription-based business model with 27% year-over-year ACV billings growth.
Achieved positive quarterly non-GAAP operating income for the first time.
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Nutanix Revenue by Segment
Forward Guidance
Nutanix provided the following outlook for the second quarter of fiscal year 2023: ACV Billings of $245 to $250 million, Revenue of $460 to $470 million, Non-GAAP Gross Margin of 82% to 83%, and Non-GAAP Operating Margin of 5% to 10%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income